| Tick-by-tick
day trading Simulation Software for currencies, futures and stocks Download the RapidSP daytrading simulator and explore your chances of succeeding at the super-career as a daytrader. Learn to day trade currencies, futures, and stocks at a speed of your choice. Download years of tick data for many instruments for free, 100+ technical studies, oscillators, line studies & price styles. |
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| Daytrading
FAQ How much profit can I make day trading? How long will it take me to learn how to day trade? Is my day trading capital guaranteed from loss? Do you recommend stocks, futures, or currencies? Should I quit my day job or business to day trade? Can I day trade if I live outside of the United States? Do I have to pay taxes in day trading? I heard that day trading currencies has more tax benefits than day trading stocks. Is this true? Can I open a trading account from any country? How long should I do paper trading before day trading with real money? What is the minimum account you recommend to start day trading? Should I day trade with all my money? Can I day trade using an Apple Macintosh? How much will it cost for me to learn day trading? Should I trade from home or from a trading room? What type of computer do I need for day trading? Is day trading with a laptop better than with a desktop? Do I need more than one monitor? Do I need DSL or Cable Modem service? What is the best day trading strategy? Where can I open a day trading account? Can day trading be treated as a career? Is there a "best time of the day to day trade?" How much capital do I need to day trade? Should I paper trade on paper? What can a day trading software cost me? Is it a good idea use trading systems or daytrading entry/exit point generated by trading systems/ websites? I am ready to start day trading. What is the first step I should take? I have invested in stocks in the past. Will day trading be easier for me to learn? Should I pay thousands of dollars for a day trading course? How can I predict what prices are going to do while day trading? Can I day trade only a few hours a day? Why all the fuss about having a day trading strategy? What is the best day trading software? Is day trading online safe? Any good day trading books out there? Do you have any good day trading tips? What is the best way to learn day trading? Where can I find any day trading secrets? Are there day trading techniques that are easy to use and effective? Is day trading for beginners? Where can I find a good day trading company? Should I use news to day trade? |
Before I even answer this question, please note that day trading should not be carried out with scared money. Scared money is money that a trader cannot lose because it is needed for something else; for example, money needed to pay the rent, money needed to feed the family, money needed to pay the bills, cash advances from credit cards, money obtained from loans, etc. Day trading should be done with risk capital; money that can be lost without permanently altering the financial condition of an individual and/or his loved ones. There are two types of people that ask the "minimum account" question. The first type does so because they have very little capital at their disposal; the second type because they don't understand the business of day trading well and want to start with the smallest possible amount for fear of losing it all. Both of these types of people are mislead. The first type should not be trading in the first place. As we mentioned before: trading is for money that you can AFFORD to risk. If you have very little money to your name, you should not be risking the little you have in day trading. Despite the fact that currencies can be traded using a mini account with only a few hundred dollars, I don't recommend for anyone to do this if they can't afford to lose the money. Understand the reason why I say this; it is not because day trading is a guaranteed way to lose, but because a person cannot perform at an optimum level with the dreadful thought of losing in the back of their minds. The second type of person might actually be taking more risk by day trading with the minimum amount required by the broker rather than the proper amount he NEEDS to trade with. "Wait a minute", you might say; "Did I hear you correctly? If you day trade with less, you are taking more risk?" Listen to me for a minute. When day trading, you cannot risk too much on any single trade. In order to do this you need to be able to use only a portion of the trading capital in your account. If you hardly have any money in your account, how can you divide the money properly to properly size your positions? You can't!!! It is better to deposit $15,000 in an account and risk $300 than risking the same amount using a $2,000 account. If you learn good trading strategies and become disciplined in applying them, it shouldn't matter how much money you open an account with |
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