And what are the ways that you can minimize your profits?
Let’s start small. What does a day trader make?
My average day-trader makes between $15k and $25k. With average stock returns of 5% and average commissions of $25, my daily profit is around $7k. I’ve also had occasional opportunities to lose around $15k in one trading session.
This number doesn’t include the fees you’ll pay to banks or other financial institutions, and some may not account for commissions or other fees. Still, my best estimates are that my return is around $1.5k – $1.8k per day. That’s a pretty sizable chunk of change, especially considering I do so little trading on a daily basis.
Why would I want to trade?
The vast majority of people do not want to trade for the money. In real life trades, I can make money, but I always feel like I’m wasting the time and my client won’t. However, if I was willing to trade for a little while, I could generate a few bucks here and there for a trading desk.
Another common misconception is that you can trade day-to-day. The reality is a good, educated trader does not want to trade forever, and should do so only up to the point where the risk is too high, and they cannot handle the risk. That said, I would like to make some money in some trading strategies – but only if I feel there is a chance of success.
What are some of my stock trading strategies?
I use the following approaches to trading stocks:
A stock market chart. I’m constantly looking for interesting patterns that will help me understand my investments.
Purchasing long-holdable stocks, often when they are near their top or bottom pricing points.
Purchasing in larger quantity – as in, buying 10 stocks of one company will give me the best possible odds of profit in the entire market, versus buying 100 smaller stocks to profit from the smallest possible range of prices.
Selling short – buy 10 stocks on another exchange and hold them for a few days to see if the prices can change.
What happened on the day of my trading
I was getting my stock tips from MarketWatch, so I was thinking “If only I could get some exposure to the entire financial markets!”. So, off the bat, I had two trades.
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