Day Trading a Good Idea?
In the investing world, day traders tend to project confidence in their ability to obtain profits fast. However, is this image they put up a farce or truly a method of getting rich quick? In my personal opinion, when investing a portion of your profit or loss is attributed to a factor of luck and day trading exemplifies this further as it becomes difficult to notice trends over the course of a day. Day trades will benefit, however, in the case of a turn of events in which a company is sure to gain or lose.
Whether it is day trading or some other type trading, to consistently make profit you need to be extremely proficient in what you are doing.
However good you are you have to accept the fact that you will make losses along the way.
A good trader makes provisions for the losses and learns to cut losses fast. Besides, a good trader is interested in making sure that over a certain period of time he makes a profit and puts in place strategies for it.
For every trader who makes profit and talks about it, there are probably a hundred others who have been losing but don't talk about it. There is no simple formula. You have to do your research and then dive in and be prepared for losses in the beginning.