Stocks & Commodities V. 24:13 (22): Working Money: Traders’ Notebook: Is Daytrading For You? by Alex Buzby
Is Daytrading For You? Here’s some practical commentary on those “glamorous” daytrading myths.
Are you happy with your day job? Are you in a rut? Let’s face it: Most of us are looking to get out of the rat race, and the stories we hear from traders sound good. There seems to be a lot of glamour attached to daytrading — and trading as a whole — that it’s easy to get drawn in.
So you decide to learn about trading. Up to now, you probably have been investing (usually in stocks), but now you want to trade. Until a few years ago, indexes like Standard & Poor’s 500 and the Dow Jones average futures were the main markets for daytrading, but the
foreign exchange market has recently become fashionable too.
Suppose you decide to take it one step further and trade what you have learned. Let’s look at the practicalities of daytrading (in any market) for the individual investor.