How I Made $12,000 from Day Trading the Stock Market

How I Made $12000 from Day Trading the Stock Market learn more at www.carterfarr.com In addition to knowledge of basic trading procedures, day traders need to keep up on the latest stock market news and events that affect stocks — the Fed's interest rate plans, the economic outlook, etc. So do your homework. Make a wish list of stocks you'd like to trade and keep yourself informed about the selected companies and general markets. Scan business news and visit reliable financial websites.     Set an Amount Aside  Assess how much capital you're willing to risk on each trade. Many successful day traders risk less than 1% to 2% of their account per trade. If you have a $40,000 trading account and are willing to risk 0.5% of your capital on each trade, your maximum loss per trade is $200 (0.005 x $40,000). Set aside a surplus amount of funds you can trade with and are prepared to lose. Remember, it may or may not happen.  Set Aside Time, Too Day trading requires your time. That's why it's called day trading. You'll need to give up most of your day, in fact. Don’t consider it if you have limited time to spare. The process requires a trader to track the markets and spot opportunities, which can arise any time during trading hours. Moving quickly is key.