Day trading is making short-term trades, lasting less than one day, in an attempt to extract a profit from the financial markets. Some day traders are very active, making many trades each day, while other traders may only make one or two trades per day. The most common day trading markets are stocks, forex and futures. Day trading can be a part-time or full-time career, depending on the trader’s style.
It can be lucrative for some, but the long-term success rate is low.
There is a lot of hype around day trading. Some websites promote it as a way to get rich quick (it isn’t), and others say it is impossible (also not true). There are lots of day traders around the world who find success and make a living off the markets, so the truth lies somewhere in between those two extremes. If you’ve thought about day trading, it’s worth your time to read through and understand the concepts discussed below, so you’ll be better prepared for what to expect if you decide to proceed.
Read Entire Article: https://www.thebalance.com/before-day-trading-1031231
What Is Forex?
The foreign exchange market is the “place” where currencies are traded. Currencies are important to most people around the world, whether they realize it or not, because currencies need to be exchanged in order to conduct foreign trade and business. If you are living in the U.S. and want to buy cheese from France, either you or the company that you buy the cheese from has to pay the French for the cheese in euros (EUR). This means that the U.S. importer would have to exchange the equivalent value of U.S. dollars (USD) into euros. The same goes for traveling. A French tourist in Egypt can’t pay in euros to see the pyramids because it’s not the locally accepted currency. As such, the tourist has to exchange the euros for the local currency, in this case the Egyptian pound, at the current exchange rate.
Read more: Forex Tutorial: What is Forex Trading? http://www.investopedia.com/university/forexmarket/forex1.asp#ixzz4jOCVnp74
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In this Entrepreneur Network video, Akil Stokes, chief currency analyst and head trading coach of Trade Empowered, admits that even he has bad days in the markets. However, a bad trading day does not mean that the trades themselves were bad.
Stokes defines a good trade as one in which you follow your own rules and don’t make mistakes. A good trade is not defined by its outcome — an outcome it is just an effect of the market.
So on losing days, he says, the most important thing to do is to get away from the markets. The worst thing you can do is make trades based on revenge or in an attempt to make money back, because you will not be following your personal rules step by step.
Watch Video: https://www.entrepreneur.com/video/278981
Day trading for beginners is like taming a lion, except more expensive. It’s a risky and challenging pursuit: buying stocks and selling them again in the same day, making money off tiny fluctuations in the price of a stock over a six-hour period. For many years the tools of day trading were not available to the average investor. Today with high-speed Internet connections and a lot of nerve, anybody can day trade. If you have a stout heart, here’s what you can do to avoid common and costly mistakes.
With an increasingly complex universe of financial products and services, how are America’s high-school students prepared to manage their money as they enter adulthood?
Not all that well, according to a new assessment of financial literacy from the Organisation for Economic Co-Operation and Development (OECD). The Programme for International Student Assessment (PISA) test measures the financial knowledge and skills needed to make the jump from high school to college and on into the workforce.
The results raise several red flags given that one in five American teens fail to meet the level to be considered financially literate. By comparison, only about one in 10 Chinese and Russian students fail to meet that benchmark. American teens haven’t improved their scores since 2012. On top of that, teens who continue on to college often must make complex decisions about student loans that can impact their lives for decades.
Read Entire Article: http://www.cbsnews.com/news/financial-literacy-us-teens-compare/
Face-to-face, a human and a chimpanzee are easy to tell apart. The two species share a common primate ancestor, but over millions of years, their characteristics have morphed into easily distinguishable features. Chimps developed prominent brow ridges, flat noses, low-crowned heads and protruding muzzles. Human noses jut from relatively flat faces under high-domed crowns.
Those facial features diverged with the help of genetic parasites, mobile bits of genetic material that insert themselves into their hosts’ DNA. These parasites go by many names, including “jumping genes,” “transposable elements” and “transposons.” Some are relics of former viruses assimilated into a host’s genome, or genetic instruction book. Others are self-perpetuating pieces of genetic material whose origins are shrouded in the mists of time.
Read Entire Article: https://www.sciencenews.org/article/jumping-genes-play-big-role-what-makes-us-human
One reason that the stock and securities markets are so volatile is that they respond to news events. Prices reflect information, changing when any little bit of information comes into the market — even if the info is just that someone wants to buy and someone wants to sell right now.
The problem is that sometimes the market participants don’t react in proportion to the news they receive. Good traders have an almost innate ability to discern news that creates a buy from news that creates a sell. Sometimes traders want to go with the market, and sometimes they want to go against it.
If you are a long term investor (versus a day trader), your investments are also affected by news announcements. When this happens, you need to consider how your position — and you — will react.
After all, no matter how long your time horizon and how careful your research, things happen to companies: CEOs have heart attacks, major products are found to be defective, financial statements turn out to be fraudulent, and so on. How are you going to respond?
Read Article: http://www.dummies.com/personal-finance/investing/day-trading/good-day-traders-react-to-breaking-news/
There are thousands of stocks to choose from, some which move very little, some which move a lot. Day traders can choose any sort of stock they want to day trade, but many choose to trade high volume stocks that are seeing significant price movement. This approach typically requires some research because which stocks are seeing lots of movement may change from day to day or week to week. If you want to day trade stocks that see the biggest price moves, here are a few ways to find them.
Narrowing down the universe of potential day trading stocks requires a stock screener, also called a stock screener or stock filter.
Constantly Volatile Stocks
If you want to trade volatile stocks, with minimal research, run the following criteria on a stock screener each week. Pick two or three stocks from the list (if there are more than two results) and trade them for the week. On the weekend, run the screen again, and repeat.
Using the screener on StockFetcher.com works best for this one:
show stocks where the average day range(100) is above 5%
and price is between $10 and $100
and average volume(30) is greater than 4000000
and exchange is not amex
add column average volume(30)
add column average day range (30)
Create a new filter on StockFetcher.com (it’s free) and copy and paste the above into the Customize field. Click “Fetch Stocks!” to see your list. The free version of the software only produces five results, but you only want to pick two or three from the list anyway, so the free version of the software should suffice for most day traders.
Read Entire Article: https://www.thebalance.com/find-day-trading-stocks-1031458
Like starting any career, there is a lot to learn when you’re a day trading beginner. Here are some tips to steer you in the right direction as you start your journey. These tips will get you setup with the proper equipment and software, help you decide what to trade and when to trade, show you how much capital you need, how to manage risk, and how to practice a trading strategy effectively.
Read Article: https://www.thebalance.com/day-trading-tips-for-beginners-on-getting-started-4047240