Member-only story
Should You Be Day Trading?
In this article, I’ll show you the pros and cons of day trading so that you know exactly whether or not you should consider it.
Because these days, day trading is super popular. And there are several advantages to day trading, but there are also some challenges.
The 4 Pros of Day Trading
So let’s first go through the pros of being a day trader, then we’ll dive into the potential cons.
Well, first of all, what does it mean to day trade?
Day trading means that you are opening and closing a position within the same day. In many cases, traders will hold positions for just a couple of minutes.
That’s what most day traders do. When I’m day trading I’m typically holding a position anywhere between 3 and 20 minutes. So that is very typical for day traders.
So what are the pros of day trading?
One: You will see instant results
First of all, it’s fast and you will see instant results. And what do I mean by instant results?
Well, within a few minutes you already know whether you’re right or wrong, because either the trade moves in your direction and you’ll be able to make a profit, or it moves against you.
