Let’s say you are stuck in a gray cubicle, whiling away your days on a boring spreadsheets about editorial calendars and digital ad trafficking. The boredom is endless and pervasive. So you need to make a change. You need to escape the unfriendliness and downright oppressiveness of the modern workplace.
Day trading comes to mind. There is a thought rolling around in your head about being your own boss, working your way towards financial freedom without the encumbrance of a boss or meetings or an HR department. Especially the thought of leaving the HR department behind. Forced fun, benefits enrollment and 401K seminars are the bane of your existence.
But first, you need to find something out. You need to know this: how much do day traders make? Well, this post will help you understand that, but you also need to understand that day traders that make real money are not just get-rich-quick guys. They have put in the work.
Here is a news flash: Less than 10% of day traders are profitable. That is correct. More than 90% of day traders lose money. It is possible to make $50,000 as a day trader, in your first year, but you need to take into account overhead on room, board and the tools to be a successful day trader. Which is why it takes smarts and strategy to be able to leverage free stock scanning tools in order to make real money as a day trader.
Warrior Trading is a great example of one of those interactive brokers that can teach you how to make real money as a day trader. They can help you be i the 10% of profitable day traders and not the 90% of money losers. But it takes lots of time and effort to become a real trader. You need to learn the best techniques and strategies that Warrior can teach and you need to learn how to trade in real time. And you need to learn risk management tenets that allow you to keep your operation profitable.
That means that you spend some time in a virtual trading simulator that allows you to trade stocks at the speed of the real market, with virtual currency. It allows you to make mistakes and learn from them without losing any of your hard-earned savings. That is where you really learn how to be a risk manager.
Search out Warrior Trading on StockTwits to see what other traders have to say about the day trading education site.