The 5 Advantages of Being a Day Trader

So You Want to Be a Day Trader?

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As I discussed in my last article, stock trading use to be only for professional stock traders. I think that new traders today realize how lucky we are to be able to day trade without restrictions. Day trading has changed the stock trading landscape forever.

 

Come and check out our awesome Facebook group full of people discussing stock alerts services, so that you can hear from REAL members of services and not get SCAMMED!

 

All of us now enjoy the tools and educational resources required to compete with other professional traders. I am not a day trader, for me the relatively small gain that I have made day trading have not been worth the stress.

However, I have observed many traders in the communities that I am part of making a lot of fast money day trading stocks. Here are some of the advantages that I have observed that you can gain by day trading stocks.

 

The Advantage of Speed that a Day Trader Enjoys

High internet speed is required to obtain the biggest advantages of day trading. Speed of execution.  Real-time price quotes and electronic order execution to the NASDAQ market makers are key to making money day trading.

Split seconds can mean the difference between making $10,000 or losing $1000 in day trading. Getting in and out of the market place so rapidly is a truly amazing feat.

It is important to make sure you have at least 2Mb internet speed or you will experience ‘slippage’ with orders executing at slightly different prices than you requested.

 

A Day Trader has an Advantage by Being in Control

By day trading you maintain full control of your own trading decisions. Essentially you are your own stock broker. You do all your own financial data analysis, check out and analyze the market trends, and decide if you are going to buy or sell particular market instruments.

By always knowing a stock’s BID or ASK price the day trader is positioned to make the best possible purchasing or selling decisions. Assuming that you place limit orders (not market orders) and that you have reliable internet connection, you will have exceptional control over the market.

 

Day Traders have No Overnight Stress

This is probably the only part of day trading that is less stressful than for other other trading strategies (e.g. swing trading strategies).

Nothing is worse than waking up to find that your portfolio has ‘tanked’ over night. Day traders get to avoid this horrible over night uncertainty.

 

Flexible Working Hours

Day traders can be glued to the computer all day, but if you play it correctly it is possible to just trade the first couple of hours at the stock market open.

This is the time when most volatility occurs, thus the highest chance of a quick scalp or intra-day trade.

Many top day traders just play this first couple of hours then take their profits and enjoy the rest of the day stress free. Pretty nice if you ask me!

Check out my review of one of the best intra-day traders I have ever see if you would like mentorship or to join his online community of professional, profitable day traders.

Wesley.

 

 

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