What is day trading exactly and how to use a day trading software?
In brief, day trading refers to trading transactions performed on financial markets such as commodities/share/currecny markets within a time-restricted period of one trading day on the market. Put most plainly, it is the buying and selling of Stocks/Commodities/Currency Markets like MCX (India), NSE (India), NCDEX (India), MCX SX (India), FOREX, COMEX (USA),
How much can earn from Intra-Day Trading in MCX / NSE/ FOREX?
What is the bottom line, then? How much can you really earn? The simple answer is that day trading can yield unlimited earning potential in context of the opportunities presented in the market during that day. That is, you can you can make as much as you can imagine, but only within the limits of what is available in terms of market opportunities. The stories of individuals making thousands of dollars, tens of thousands on the strength of a single transaction on a given day are probabilistic-ally, and in actuality, true. The first and foremost thing you need for intra-day trading success is to get a best and accurate Intra-day trading software for your trading in MCX, NSE, FOREX markets. A best intra- day trading software will give highly accurate buy sell signals with most precise exits will help each trader to make profit from day trading.
But these outcomes are dependent on not only the quality of stocks up and their availability for trading during that specific day, but also to the amount of money in your account that you may leverage to move on those transactions. You can make only what the market allows. That being said, you can make a nice living. Think of it in a similar manner to professional gambling. These earners are NOT the fly-to-Vegas-for-a-wedding-and-and-hope-to-score-big types.
These are practiced, skilled, and knowledgeable practitioners who pay taxes on their earnings. The solid performing ones make over six figures a year, but can just as likely make just enough to pay their bills. This is not unlike other occupations that require skilled professionals leveraging experience against risk—professional gambler is pretty close to day trading in the professional profile, but by this definition, farmers and fishermen are similar. Think about it, if you planted crops or raised cattle or fished for tuna, are you EVER guaranteed a good season no matter how experienced, talented, or resourceful you are? Of course not, but do you stand a BETTER chance of making a living if you have good skills? Yes. This brings us full circle to the beginning of the book when you asked yourself the tough questions of whether you were a risk taker. Obviously, you are. But, do you have the temperament? You will need your steadfast self-discipline and your sense of fierce independence because it is possible and likely probable that you will lose. And perhaps even lose big. You will make many, many, cringe-inducing, stomach-churning mistakes. But if you follow the best Intra-day trading software which guide you for perfect buy sell signal entries and exits will ease your trading and guide you to make a professional Intra-day trader.
Seasoned traders do this all the time, you will be no different. Your goal should be to break even at the beginning (even if your OVERALL goal is to make money every day. What’s the good news? Well, people make money. They make a living; they may even make more than that. But overall, market access has transformed in the age of the internet and individuals talented and willing to ride the frenetic waves of the day to day trading will find that over time, the waves do even out and the market gains in value. And those are two key words—over time. So, be patient, be brave, and rest easy in the knowledge that you have embarked on this venture not solely to make money. You have chosen to make money in a very specific manner that speaks to you, that rings true with your risk-taking, self-disciplined, fiercely independent nature. And that is an experience that cannot be given a price.
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So, good luck, play hard, and make it a good day!