Stocks & Commodities V. 24:13 (22): Working Money: Tradersí Notebook: Is Daytrading For You? by Alex Buzby
Is Daytrading For You? Hereís some practical commentary on those ďglamorousĒ daytrading myths.
Are you happy with your day job? Are you in a rut? Letís 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 ó and trading as a whole ó that itís 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 & Poorís 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. Letís look at the practicalities of daytrading (in any market) for the individual investor.