Day traders rarely hold positions overnight and attempt to profit from intraday price moves and trends. Day trading is risky but potentially lucrative for those that achieve success.
Can you get rich from day trading?
- Thread starter Obaterof
- Start date
kayode10
Guest
it is possible to get rich from midday trading provided we have been huge amount of cash to invest. Even when you have huge amount of money you want to invest, it is very important to do due diligence and research before you commit your cash into the investment. With proper planning you can become rich by engaging in day trading.
One of the best reminders I have ever read. Its true that before you commit to anything especially with money or investment involved, you first need to investigate carefully, study every aspect on how the platform works, and you are ready for any risk, trader's capital burned several times before they became millionaires (the others were already multi-millionaires). So anticipate what will happen so that you are always mentally and psychologically prepared.
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I doubt it possible that a person can make such a large amount of money in a day that would make him or her rich in just a day but if in any way that's possible, then the same person should have it at the back of his mind that he or she can also get broke the same way he he became rich in just a day so let's be guided please.
I would say an above average trader for a prop firm can make about 150k to 250k a year. The average trader will do between 60k and 100k, and underperformers will have so many position limits placed on their account, they are basically practicing and not making any money.
It would be said that an average trader for a prop firm can make about 150 to 250 kg in a year. The average trader will work between 60K and 100K, and underperformers will be placed on account of such position limits, they are basically practicing and not making money.
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The answer to your question is yes and no at the same time, because the profit you will make as a daily trader is determined by the amount you use in trading, if you are using a huge amount of capital in trading, in just one trade you can close the trading gaining $500.
Yes you can get rich from day trading buy I bet it would take long because there will be scam there it and in just a day it would be scam but before you do anything you have to investigate about it and know it with sense then that same person would be very regretful because the person would be scam of everything and it would be bad like that.
Of course you can make substantial daily returns just by trading coins. I know someone that sets a daily target of about $500 just buy trading lesser known altcoins. He employs a strategy that he calls "buying the dip" and then leaves the market after getting the required profits. It all boils down to your ability to analyze altcoins and then make investments decisions.
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Yes, trader can rich by daily trading, if you have knowledge about it and you experts on it, if you have good capital to invest on it and have a time for it, you can definitely get rich within a year. But you have to be dedicate your time for it.
Yes you can get rich from day trading, when you are been paid daily, it helps you to safe and to survive,it will even help you to study your income rate, at least for each day you should have a particular target for your income,which will help you know if you are progressing or not. Its also risky because the customers level will be floating. So times you trade high while some days you have to low and make some lost.
Yes it is possible to be rich from trading. I know of many traders who just go to their shops daily waiting for customers to patronize them and their business is worth more than #5million. You can hardly know that these people are actually rich into when you move closer to them.
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Most of them make a whole lot of money from intraday trading. The best way of going intraday is to study your technical analysis. You can trade Your swings and make huge profits from intraday, but it requires a lot of time to understand all the technicalities that is involve.
Yeah you can as long as you have the enough money to invest and also have a good knowledge of how day trading is run but this can only be possible if you are under a good mentorship
Allow Me say this if you take the get rich in a day into forex market I can bet it with you instead of getting rich you're going to get poor that day don't ever rush into the market with the aim of making quick money it doesn't work that way it requires study observation and intelligence
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Yes you can get rich from day trading subject to the amount of capital you invested to trade with. You must understand that different people have their trading styles that suits them on trading. So,. Find yours that works for you
Day trading alone can make you to have money or become very successful. We can become rich by trading with huge investment in day time. Well i will be glad to do a day business to have enough time for myself to do other things.
Daily trade can be possible and it profitable as well. But learning the knowledge and strategy to make huge income is what needs to be put into place in other to be making daily Income.
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It is possible to be a millionaire with crypto trading, it is just like any other business, all you need to do is to buy low and sell high, that's it. You can make millions in crypto trading if you are serious and also trading very well
If you take the get rich in a day into forex market I can bet it with you instead of getting rich you're going to get poor that day don't ever rush into the market with the aim of making quick money it doesn't work that way it requires more information.
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