What are the best ways to learn about day trading?
- December 7, 2017
- Posted by: PurpleTrades
- Category: Stock Market
Learning Day trading is an art which needs to be practiced and tested in various conditions.
It basically is understanding about yourself and taking control of Greed and Fear in you.
You have to establish a technical system which gives you an accuracy of more than 60%.
Once you do that, back test it with different stocks and different time frame, by doing so you will finally filter out a specific set of stocks and specific time frame charts that work the best for you.
Just stick to it, and also back test new learnings until you make desired gains monthly.
For a day trader, it is important to stay realistic, never expect more than 30–40% returns monthly.
Catching 1% everyday should be your strategy in the beginning days, slowly shift gears to make 2% a day. thats it.
If you have 2lac in your demat, try making only 2k per day in beginning, after getting set, aim for 4k a day.
And you will end up making 70k-80k per month on investment of just 2lac.
I hope this helps you.
To learn more about technical analysis and to develop your system to trade
comment for details.