How can Day Traders make consistent profits?

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Day Trading can be a great way to make extra money. In fact it’s the perfect side hustle, you can work a couple of hours per day from anywhere you want to. But 90% of DayTraders lose money. Why is that and how do you make profits consistently?

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Can you make money?

Trillions of dollars change hands every day in the Financial Markets.  So whether you trade commodities, cryptocurrency, forex, futures, stocks or options there is a great opportunity to make money.

 

What’s the catch

Trading is a zero sum game, which means for every winning trade there is a losing trade on the other side.  As soon as your losses exceed your wins you become a losing Trader and one of the 90%.  Once you start losing your trading capital decreases and it’s then very hard to get back to where you started.

 

Why do so many people lose?

Trading is a skill that you have to learn.  If you want to become a Plumber or a Pilot or a Paramedic you’d expect to do a substantial amount of training and then continue to learn on the job.  You’d want to make sure you were fully skilled up so that you minimise the risk of any mistakes.

Yet many people don’t take the same approach when trading, somehow they view it differently.  Instead of finding and sticking to a clear training plan with checkpoints to assess progress they let emotion get in the way and want to jump right in.  Unfortunately it’s the lure of making quick money that skews the thinking.  They think that if the markets can only go up or down then there is a 50:50 chance of making money so why not dive in and give it a go.  That is not Trading, that is gambling.  Go ahead and gamble if it makes you happy, but you will eventually lose all of your money.

 

How do you learn?

You can and should learn the basic principles of trading.  But in today’s high volume, volatile, interconnected markets you need much more than that.  You need an edge to be a successful Trader.  You just can’t rely on old school techniques of Moving Averages and Technical Analysis anymore.   Hedge Funds and Big Banks spend hundreds of millions of dollars on analysis tools and teams of Analysts to help improve their trading.  You need something that can give you a similar edge in your trading.

Historically this wasn’t possible, the cost of computing power required was just too expensive to make it available to Retail Traders.  But with the advances in cloud computing making Artificial Intelligence (AI) and Machine Learning more accessible it’s now become a reality.

 

What to look for?

First beware.  There are a lot of companies out there offering ‘get rich quick’ schemes, these do not exist!  You need to find a company who has proven technology to identify and run trades and one who will be a trusted mentor to guide you through the learning process.

 

  • Does the company have a track record of trades that you can see?
  • Do they trade live and can you watch?
  • Do their indicators stay on the screen forever? (many companies seem to mysteriously remove indicators for trades that weren’t successful)
  • Are they realistic about potential earnings and how long it will take to learn?

 

 

How to become a winning Trader?

The proven, award winning Inteligex software uses AI and Machine to generate Trade Signals and Trade Indicators to help you identify and run High Probability Trades.

We’re passionate about education and we will make sure you improve.  In addition to our courses, video tutorials and manuals you join our live Trading Community and get access to one to one personal tuition.  Come in and join us as we teach you the core skills needed to make money trading commodities, crypto, forex, futures, stocks and options.

 

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

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