What You Need to Know Before Day Trading?
What you need to know before day trading?
Finding a platform that offers low commission fees is important, as this can take from your profits. Some platforms allow premarket trading before normal day trading hours, which vary, the Nasdaq opens Monday to Friday from 9:30 a.m. to 4:00 p.m. local time. It's very important to learn how to use the platform on a demo account first, their fees and policies
When it comes to stock trading you need to choose which direction you go, either swing trading or day trading. What’s the difference? Swing trading suits someone who wants to trade part-time and have a full-time day job and would like to earn a side income (make a lump sum every 1-5 weeks). Day trading suits someone who wants to make a career out of trading, you will buy and sell stocks every day.
The next step is to open a brokerage account with low fees, it’s important that we have a low commission on trades. Learn everything about your brokerage account, learn the platform, and study stocks.
As a beginner, start with swing trading. Everyone can make money if they follow my swing trading strategy correctly, be patient, and don’t be too eager to buy stocks, when you are a beginner you will be excited and want to buy everything, so take a step back.
We need to understand that stocks are volatile and trading may really not be for you, never invest with money that you need for daily living. Be smart, only invest with money that will not change your life if you have it or not.
A negative catalyst moves the stock price lower and could be a poor earnings report that missed analysts' expeditions, a lawsuit against a company, war, or a pandemic, large investors selling stocks, a CEO stepping down, a bad earnings report missed analysts expectations, analysts downgrade the price expectation or stock rating to a sell.