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Day Trading as a Career – Is it Possible?

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Is Day Trading as a Career Possible?

Hey, traders, it’s Marina the trader chick to simplify your day trading for you. So you want to know, can day trading be an actual career? Well, stick around because I’m going to give you the facts. But first, make sure that you subscribe because every week I’ve got some simplifying day trading hacks for you. All right, let’s find out if it’s a viable career.

So the real question really is, and everyone really wants to know the truth to this one. Can you make day trading a career? This is the real question that I get asked all the time. So here we are. Yes, it can be.

But I have to say that in order to make day trading as a career you must have a firm grounding in the fundamentals of day trading and market movements. And this will be a solid foundation from which to build a career as a day trader.

Related Read: How to Succeed in Day Trading

But here’s the reality, though. Imagine this. Okay, just imagine this. You decide that you want to be a pilot. Okay, now imagine yourself.

You want to become a pilot, then what you do is the next step, the very next step you do when you decide you want to become a pilot is you call up your whole family, you get them onboard the airplane. Just come on, guys. I want to be a pilot. Let’s go. You got yourself a plane, you got your entire family on there.

And somehow, miraculously, without really knowing how, you managed to take off. Now, do you think this is a suicide mission? I mean, just yesterday you decided or this morning you decided you wanted to be a pilot. You have no clue how to do it. Miraculously, your family said, okay, let’s jump in and check this out, and you took off.

And honestly, do you really think that this is not a suicide mission? Yes, it is. It is a total suicide mission. Do you think a pilot could have a sustainable career after that kind of move? Definitely not.

So here’s the real question about you wanted to have day trading as a career. Why is it okay and totally understandable that you need to go through pilot school? You understand that you have to go through pilot school. You have to put in a ton of hours to simulation practice to really understand what’s going on. However, when somebody decides that they want to be a day trader all of a sudden, just because they have a little bit of money, they think, well, I’m going to be a day trader.

day trading as a career
You wouldn’t dream of piloting a plane without countless hours of training and practice. And the same should go for day trading – hours of training and practice are needed before you find success.

This is going to be my career that without any training and money, they can be chameleons overnight. Not only do they think that they can do a career just like that because they have a little bit of money, but they actually lie to themselves and believe that they’re going to become millionaires overnight. I mean, it sounds ludicrous, right?

It’s so crazy, Ludicrous. And how do you think that this will lead you to a day trading career to actually have a career in day trading just because you did what the initial want to be pilot did, call up their whole friends or their family and friends, pile them into the air and airplanes and take-off and crash and die?

That is literally what happens every single day. The same, the second somebody is like, I want to be a day trader. They take their money, which is like your family members. If you think of it because it pays for your food, pays for your rent, pays for your activities, pays for your life. I look at it as family, right?

So they just throw it and donate it to the financial market, and they think that they can have a career just like that with no training, no, nothing. This is the reality. Guys, if you want to be a pilot, you have to put in the time to train. You want to be a day trader. Put in that time to train.

And once you put in that time to train having a strategy, guess what. You will have a career in day trading. I’m Marina the trader chip telling you how it is and simplifying your day trading. Remember? Comment below.

Recommended Read: Useful Degrees For Trading Stocks

day trading as a career
The real question many beginners want to is, “Can I make day trading as a career?”. That’s what I will address in this post.

Related Read: Can You Buy And Sell a Stock In The Same Day?

Tell me what you guys think about day trading. How is your day trading career going and what did you have to learn and train for getting there? And I wanted I hear your comments below and make sure you subscribe because every week I have new simplifying day trading hacks for you.

Bonus Section I: What Skills Do You Need to Develop?

After listening to my podcast episode or watching my video (and reading the transcript above) I hope you understand my viewpoint on the issue of whether or not you can become a day trader.

And my answer is a definite yes! But! Only if you put in the necessary time and commitment in order to train, practice and learn the art of day trading. And only then can you make day trading a career for you – and one that can be very profitable also!

But you may also be asking, okay, then what do I train! What should I put time into learning in order to make day trading a real career?

That’s what is discussed in the bonus section I have put together for those who understand that it is possible to have a career as a day trader and are wanting to know what they should put time in training and learning to make the fastest progress.

But before we get into that, understand that technical skills are a major part of making it with day trading as a career and day trading success. But some of the other components you need to train really have nothing to do with actual day trading technical knowledge and more to do with your mindset and discipline. 

So let’s get into it. But just before we do, It’s important to remember that out of all the skills you develop in day trading often the best approach is to simplify your trading technical analysis and indicators in order to become a consistent and profitable trader.

How to SIMPLIFY DAY TRADING

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i) Analytical skills

Day trading requires a keen ability to interpret charts, patterns, and indicators. Successful traders must be adept at analyzing market data to identify potential opportunities and make informed decisions. Whether it’s recognizing support and resistance levels or understanding complex technical indicators, strong analytical skills are essential for navigating the fast-paced world of day trading effectively.

ii) Discipline

One of the most critical qualities for a day trader is discipline. This entails following a trading plan meticulously and sticking to predetermined strategies, even in the face of market volatility or emotional impulses. Discipline helps traders avoid chasing losses, overtrading, or deviating from their established rules, ultimately contributing to consistent and profitable trading over the long term.

iii) Emotional resilience

Day trading can be emotionally taxing, as it involves high-pressure decision-making and the potential for significant financial gains or losses. Emotional resilience is vital for managing the stress, anxiety, and fear that can arise during trading sessions. Successful traders learn to control their emotions, stay calm under pressure, and avoid impulsive decisions that may undermine their trading strategy.

Bonus Section II: Tips for Success Day Trading as a Career

i) Start small 

For beginners entering the world of day trading, it’s crucial to start with a small trading account. Starting small allows traders to gain valuable experience with minimal risk and helps them become familiar with the intricacies of trading without risking substantial capital. As traders gain confidence and experience positive results, they can gradually increase their position sizes and allocate more capital to their trades.

ii) Stick to a routine 

Consistency is key in day trading, and establishing a daily routine and trading schedule can help traders maintain discipline and focus. A structured routine sets specific times for market analysis, trade execution, and review of trading performance. By adhering to a routine, traders can avoid distractions, minimize emotional decision-making, and create a conducive environment for success in the fast-paced world of day trading.

iii) Learn from mistakes 

Mistakes are inevitable in day trading, but what sets successful traders apart is their ability to learn from them. Encourage traders to regularly analyze their past trades, identify areas where mistakes were made, and understand the underlying reasons behind those mistakes.

By reflecting on past performance, traders can gain valuable insights, refine their trading strategies, and improve their decision-making processes. Emphasize the importance of embracing failure as a learning opportunity and continuously evolving and adapting to become more effective traders.

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