There are people who just love numbers, and the thought of learning a whole new language of technical words makes them happy. They think with the analytical side of their brain most of the time, and are able to see the big picture, no matter what else is going on around them. These people have the super speedy brains of a numbers-based genius, nerves than can be slightly shaken, but never stirred, and a little risk taker in them; they are just the right person to take on day trading for a living.
1.) You should not get the idea that these are just some kind of young, cowboy types that roam in making trades at random, raking in the big rewards. They must truly know their stuff and they have to have an innate sixth sense ability before heading out into the day trading game. The day trading activity takes place every day, online with the more short-term trades that move quickly. They are just traders, rather than investors, but can get huge rewards in a short period of time. But of course, day trading for a living does carry some large risks, so you must know a little about the market, your limits and what your loss limit is before you even start.
2.) Some day traders do not always buy and sell their stocks in the same day, some may be held onto for a few days or even a week or more, in an activity commonly known as "swing trading". To day trade for a living you will probably take on both types of trading, especially on days when certain stocks are not moving. Knowing the trends of stocks is always a good idea, and while the day trader moves quickly, without the wait and see approach of a more traditional trader, they do know and understand these trends.
3.) Before thinking about day trading for a living you must know more than just the stock market and your own skills. A day trader must function under certain regulations which include minimum equity requirements for a day trader account, as the day trade buying power of that account and what defines a trader as a day trader. You do not want to begin your new career with SEC trouble over your head. Check out the regulations and the requirements. Do your homework and possibly buy and download a good software program to your home or office computer. There are many good ones, you need to find one that is a good fit for you. Not everybody is the same, so you need to do your homework and find one that is right for you. Day trading for a living can be lucrative, or it can be the financial death of you, know what you are getting into before you get into it.
4.) Knowledge is the key, invest in yourself and you will become a successful trader. So I could say good luck, but luck only plays a small part in your success.
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