Summary
The allure of day-trading is undeniable: Be your own boss, create your own schedule, work from home and make a fortune. So, before quitting the day job, a potential day-trader should seriously evaluate whether he is suitable for the task at hand. Day traders need a product that has liquidity and volatility. Liquidity is essential because it is necessary to enter and exit the market quickly with minimal slippage. Volatility is the source of all profits. Of course, stocks are not the only vehicle available for day-trading. They may not even be the best choice. Options also offer day-trading potential. Both cash accounts and margin accounts are available for options. A benefit of futures that really helps the bottom line is that through the last few years, the cost of trading futures has fallen dramatically. Futures also represent markets that transcend the familiar financials that most potential day-traders know.
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Extract
Getting Started in Day-Trading
The allure of day-trading is undeniable: Be your own boss, create your own schedule, work from home and make a fortune. That is the dream of thousands of day-traders. A few will experience much of the success they seek while most will lose money and ultimately surrender to defeat. Day-trading is a high-stakes game and those who are unprepared for the challenge either financially, mentally or educationally will likely suffer.
So, before quitting the day job, a potential day-trader...See the full content of this document
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