How Much Money can a Day Trader make?
You as the individual will control how much money you make while Trading Stocks, Trading Futures or Trading Forex however; do not for one minute, think that Day Trading is a ‘get rich quick scheme’ because it is far from it. You as the individual must realize that immediately or you will lose your money, real fast. While the possibility is real to make money Day Trading, don’t set your sites too high at first. All good things take time and that includes increasing your potential profit goal, over time.
Day Trading can be a successful livelihood for many individuals but, it takes a great deal of time, dedication and training to be successful. A majority of failed Day Traders are a result of jumping in the market, with no training. Actually, it’s almost a ‘given’ that, individuals who fund an online trading account and start to trade without developing a trading strategy and fail to participate in any Day Trader Training will lose their trading capital within 2 weeks to a month. Of course this depends on the size of their trading capital account but, it will not take long to be out of the Day Trading game, fast.
Determining the realistic amount of money you need to make to survive is job #1. Remember that, once you decide to Day Trade, the work has just begun on your new career and the success with it. We cannot emphasize enough the importance of training.
Day Traders determine their projected profits in various ways. Some Day Traders calculate the percentage of money they invest per trade for their projected return on their investment per trade. You will have Day Traders who project the number of points or portion of points needed to gain per trade, based on number of shares traded. Because there is no way to determine what any stock will do, some Day Traders do not project profits on a per trade basis but, on an undetermined number of trades’ basis. Basically, beginning during their personal training period, in demo mode, a trader will place trades (demo or real) and after learning to read charts etc., they take the profits realized and tally up profitable trades, subtract losses and fees for a grand total of realized profits (both in demo then during live trading).
There is no individual that can tell you specifically, how much money you can make by day trading, it is not an hourly wage job. The amount you make is up to you, your experience and your trading success experienced while you practice day trading in demo mode, without risking your trading capital. Furthermore, your success while trading live will take time, profitable trading is not going to happen, every trading day. While practicing trading in demo mode, you should keep track of your demo profits/losses in an effort to determine your profit potential while live trading. Remember, demo trading is extremely valuable to assist you as the trader in developing a successful trading strategy however; live trading is very different than demo trading. You will not obtain the same success while live trading, that you did while demo trading.
As there is no limit to the amount of money you can make while day trading, you can lose all your trading capital if you do not take the necessary steps to insure you have received the appropriate training by utilizing a professional Training Program.