How Successful Is Day Trading-Binoption
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How Successful Is Day Trading? A Brief Overview Of The Success Rate

According to an article in Forbes

Day trading is the new sexy that gets an inordinate amount of hype.

It’s true so far.

By any chance, are you thinking about start day trading to meet your living expenses?

If yes, then you are worrying about something, I guess!

The success rate of day trading! Isn’t it?

Don’t worry! A web search for the term ‘day trading for a living’ displays encouraging results. The overall message is that day trading for a living is hard but, with sufficient training, reasonably possible. 

So, we have studied thousands of traders to give you a brilliant answer to your worries. And today, our goal is to inform the result to individuals who are considering day trading as a viable career.

Let’s get started! Time to reveal how successful is day trading.

How Successful Is Day Trading?

The ultimate success rate depends on the skills, behaviors, strategies, and overall trading plan of a day trader. Thus it is not entirely possible to answer the question of how successful day trading is.

However, in a recent study on 19,646-day traders, we have got a shocking result.

Guess what!

Less than 10% of traders have got success in day trading. The number is pessimistic. Yet it has an understandable reason behind it.

From the total number of traders, only.

1,111 (5.7%) day traded only one day, 9,978 (50.8%) between 2 to 50 days, 3,100 (15.8%) between 51 to 100 days, 2,738 (13.9%) between 101 to 200 days, 1,168 (5.9%) between 201 to 300 days, and 1,551 (7.9%) for over 300 days.

So, based on the persistent traders’ number, the success rate is not that bad.

However, we have seen many traders who have reached their goals and become inspirations for the newbies

For example, Ross Cameron is a successful day trader who made $222,244.91 repeatedly in 2016. His primary strategy focuses on trading momentum on stocks priced under $20. He looks for stocks that can move 20 to 30% in a day. Identifying these stocks takes up most of his strategy.

He said, 

Day trading is an exercise in repetition. Keep your trading strategy simple.

Day trading is tricky. But it is not impossible. You can improve your chances of success by taking the time to prepare. 

During the first year, you’ll want to handle trading losses and still be able to pay your rent and buy your groceries. Knowing that you can cover your necessary expenses will give you more confidence, and that can help your performance.

You never know what kind of setup the market will present to you. So, your aim should be to find an opportunity where the risk-reward ratio is best. 

Sometimes, day trading enhances yours over trading mentality. Know how to control improper trading psychology before its too late. 

Present Situation Of Day Trading In The Market:

Governments worldwide have introduced Quantitative Easing, which is a massive injection of capital into the financial markets. It causes a blistering increase in money being invested in the stock market. 

The result is new market volatility and volume that has been a blessing for day traders. The recent financial crises have also caused the markets to become erratic. The problem causes the need to move much faster, and day traders are still capitalizing on the uncertainty.

Think a recession can stop you from making money? 

For the typical employee, earning a living in a recession is no simple task. Jobs are scarce and being laid-off or losing your business can be detrimental to anyone. It is a truly liberating experience to no relies on anyone else for an income. 

However, it is excellent that day traders make more money when the economy is worse. As a day trader, there is only one thing we need to make money. That is the market movement. 

As long as the market is moving up or down, we can fill our wallet.

Isn’t it a blessing in disguise?

Why You Should Start Day Trading Right Now

When you trade daily, you don’t rely on anyone except yourself. For some people, it’s the freedom to spend time with their family.

And for others, there is no need to report to a boss or work 12 hours a day doing something they don’t enjoy.

So, trading offers not only a flexible job but also a relaxed lifestyle.

How Flexible Day Trading Is?

When we say flexible, we not only refer to travelling and the ability to take time off work. And we can also stay flexible with the fast-changing global world.

Remember, you only need an internet connection to make a living day trading. It is one reason we say day trading is a lifestyle, not a profession.

Many people trade a couple of hours a day, earn a high income. They have ample time to enjoy life and pursue their dreams. 

Can Anyone Do It?

If there’s one thing that we have learned about day trading, it’s that this is something that anyone can do. There is no need for college education or professional training. 

But you need to gather information and need to learn how to trade the financial market in an unfamiliar situation. 

We will provide you with all the information and support required to succeed.  

Final Words

So, day trading is risky but potentially lucrative for those that achieve success. The return of investments offered by it can be helpful. 

However, if you are interested, we recommend our trading guides and financial strategies to get enough knowledge on day trading.

Through our free proven educational guides, we have helped hundreds of learners in their learning, with many of them transitioning into full-time professional traders. 

We continue to refine the education process and shorten the learning curve by working with new and experienced traders alike. 

So, stay connected with us by sharing this with your connection. 

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