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Sunday, April 28, 2019

Asked and Answered: Questions to Ask If You’re Considering Day Trading

By: Wes Messamore
Hacked


Day traders buy and sell financial instruments frequently to take very short term, speculative positions for a quick profit, hoping to have more profitable trades than losing ones, and striving to keep their day trading winners bigger than their losses.

In the United States anyone who makes more than four day trades in five business days using a margin account is designated a “pattern day trader” by the Financial Industry Regulatory Authority, and is required to report to FINRA for financial oversight as well as meet certain regulatory requirements.

Day traders trade a number of assets. They operate in equities markets such as U.S. stocks, state currencies such as the Euro and the Yen, cryptocurrencies like Bitcoin, commodities like cotton or oil, and derivatives like short contracts. Their participation in the market helps it along by adding liquidity and velocity to the market’s movements.

If you’re considering going into business day trading, you might want to know the answers to some of the following questions:

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