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Job Opportunity

This job requires 25K minimum and ideally a lot of experience to have a chance to succeed.

Poor

Demand

  • Average Demand

Experience & Degree

  • No Experience Required
  • No Degree Required

Citizenship

  • No Restrictions
Job Compensation

This job is risky but has a chance to pay well.

Okay

Pay Range

  • Hourly: $30-$120/hr.

Reliability

  • Risky

Housing

  • Room and Board Not Provided
Job Flexibility

This job has a flexible schedule and you can work almost anywhere in the world.

Great

Location

  • Very Flexible

Schedule

  • Very Flexible

Language

  • Can get by with English only

Job Opportunity Breakdown for Stock Day Trading

Who can be a stock day trader?

Day trading is not for the faint of heart! Because of the nature to trading, losses are to be expected, but with a solid plan, day traders can reap great rewards.

A sum of investment capital may be required to start trading, however there are options available to trade in smaller amounts.

There are no educational requirements.

What are the responsibilities of a stock day trader?

Day traders will execute trades using their assets to make same-day profits. Some responsibilities that day-traders will need to execute daily are:

  • Making purchases and sales efficiently and productively throughout the day, using assets available. 
  • Look into any issues, and work on resolving them promptly. 
  • Document all trading activity and maintain fully up to date records. 
  • Look into innovative strategies for trading digitally.
  • Build up strong relationships within the industry.
What’s the typical schedule for an stock day trader?

Day trading is very flexible in that you don’t need to stick to a strict schedule and you can trade at your own pace whenever you have free time.

However, most traders are successful when trading at specific times of day, such as market open and close, in specific timezones. Those looking to find opportunities in day trading should be aware that most profit will be made during these times.

Job Compensation – How much can you make as a stock day trader?

Income Reliability
In general, day trading can provide a steady stream of income, depending on the amount of capital you’ve invested. Though, income may not be consistent.

Typical Job Duration
Day Trading can be short-term or long-term.

Estimated Hours Per Week
You can do day trading part-time or full-time.

Room & Board
Day Trading doesn’t typically provide room & board.

Job Flexibility – Where can you travel and work while day trading?

Stock Day Trader – Country Map
Stock Day Trading - Best Places Job Map

The Best Places To Be A Stock Day Trader

Most major countries throughout the world have opportunities for those looking to be a stock day trader. Here are some of the best places for stock day trader jobs.

  • US
  • UK
  • Europe
  • Ecuador
  • Brazil
  • Thailand
  • South Korea
  • Philippines

How To Start Stock Day Trading & Succeed: Step-by-Step From First-Hand Experts

Step 01
Start With the Basics

Start learning the trading basics. These items will be essential to a day trader’s success. Get a feel for what you would like to trade, and learn about the most popular strategies. Some strategies to become familiar with include:

  • Fading
  • Spread Trading
  • Range/Swing Trading
  • Trend following and momentum trading
Step 02
Stay With the Trands

Once you know a little about the basics, you’ll need to keep up with any stock news and articles.

Events that affect stocks are also something you will need to pay particular attention to. Take a look at the Fed’s economic outlook, interest rate plans, etc.

Get all your ducks in a row and make your own list of stocks that you might want to trade and gain information on the relevant companies, as well as the general market. Popular financial websites are a good source to keep up-to-date with your favorite companies and markets.

Step 03
Keep Separate Funds for Day Trades

Always place a limit on how much money you want to risk on a trade.

The most successful day traders will only risk up to 1-2% of their account on each trade. Ensure you have a surplus of funds that you use to make these risky trades and don’t dip into the other funds.

Be prepared to lose, because sometimes there just isn’t any way to predict what will happen!

Step 04
Start With Smaller Trades

Don’t go too big and risk too much when you’re a beginner. One or two stocks per session might be a good way to start out.

One thing that has become even more popular lately is trading in fractional shares. This allows you to place a dollar amount on a trade, and not necessarily a per-stock method. For example, if you want to purchase, but you only want to invest $100, you can get one-fifth of a $500 share. This allows you to invest in companies that have higher value stocks.

Step 05
Choose Your Market

Every market has the potential for profit. Because of this, it pretty much comes down to how much you are willing to invest, and how much capital you need to begin.

Don’t split your focus between multiple markets when you’re just starting out. Try to focus on one market while you’re learning. This will turn into faster, better profits in the long run because the knowledge from one market can usually be applied to others.

If you already have something in mind, then great! But if you need to know more before committing to a particular market, here are a few of the markets and their details:

  • The foreign exchange market: In this market, you can trade using the Euro and the USD. This market is great for investors with little capital, and you can get going with just $50. However, it is certainly recommended to start with more if you can. 
  • Futures Market: Futures also don’t require as much capital to get started, however you should expect to have around $1000 to start. Futures are usually based on prices of certain indexes or commodities such as gold, S&P 500, and oil. Be sure to research different futures to get a good idea if this kind of trading looks right for you.
  • Stocks Day-Trading: This option will require at least a $25,000 investment. This option is only useful for those who have the capital. 
Step 06
Pick The Right Time of Day to Trade

Both seasoned and new day traders need to learn to be consistent. A consistent trading schedule (such as trading during only certain hours of the day) is key for most day traders’ success, though some do trade during the full day’s session. 

Here are some tips for each market:

  • Stocks: Trading stocks is best at the beginning of the day, and just before closing. There is a 1-2 hour window during these times, where trading is optimal. 9:30 am-11:30 am is a great time to trade as this is when the market is most volatile, creating opportunities for the largest profits. Other big moves and shifts happen around 3-4 pm. If you’ve only got time to trade during one time of day, morning is your best bet.
  • Futures: For futures, session open is also an optimal time to day trade. Though, the prime opportunities occur a bit earlier in the day than with stocks. Primetime for futures is around 8:30-11 am EST. Closing time for futures is a bit different than sticks, but similarly, the last hour of the day can provide opportunities for a significant profit. 
  • Forex: This market is a 24-hour market. USD and Euros are the most popular trading currencies in this market, and they will often have greater volumes of trades from the wee hours of the morning (1 a.m.) to around noon EST, with the most traffic and biggest trades happening between 7-10 a.m. EST. This is primarily due to the fact that both the NY and London markets are open during these hours. 
Step 07
Practice Trading Strategies with Demo Accounts

There are some websites out there that offer risk-free demo trading. This kind of simulator allows you to practice your trading skills and hone in on a strategy. You can’t try and learn everything all at once.

Try to pick a strategy, see if it works for you, and keep using it. 

Step 08
Transition From Demo to Live

Despite the appeal of demo trading, most traders notice a decline in their success in the real market versus the demo market. The main difference is that demo trading allows you to see if a strategy will work in theory, but it cannot recreate the real market exactly.

Another factor is the emotional decision making that happens when real money is at risk and not just virtual coin. 

Be aware that when you transition from demo trading to live trading, there will be some failures. This is only natural, and if you have a sound strategy, you should have success. 

As your comfort level rises dealing with real trading, you can work towards increasing your trade limit up to the 1% that was discussed earlier. Be consistent in focusing on your strategy. Precise implementation can help steer you away from making any emotional decisions.

 

Step 09
Have Patience

Keep your eye out for opportunities that fit your strategy. If it doesn’t fit, don’t make the trade.

If nothing is looking good, remember that something will come along and you can simply wait for those golden opportunities.

Frequently Asked Questions – Stock Day Trading

Can you day trade one stock?

It is pretty rare nowadays to be able to day trade a single stock. Those who seek this type of trading out are making every effort to make the most out of their money, quickly, or just don’t have enough to trade in larger amounts.

Do day traders make money?

Day trading can be very lucrative, but it is also a very risky approach! Most folks who are day trading are trying to make a profit off of small changes throughout the day, and not necessarily holding onto their shares overnight.

How do I get into day trading?

Here are some tips and tricks for starting out:

  1. Plan your strategy ahead! A lot of people are so afraid of money that they will never take the risk and jump into things, but that doesn’t mean you should do so without a plan, otherwise you risk some serious losses. Be aware that you may have to lose some money to make gains.
Can I buy stock today and sell tomorrow?

If you are investing in retail you cannot purchase a stock and sell it same-day more than 4 times in a 5-day business-day span. This is called the pattern day trader rule. To work around this rule, you can buy at the end of a business day, and sell on the next business day.

Can you start day trading with $1000?

It is possible to start day trading with $1000 or less! However, this will not work in the United States market where $25,000 per day is the minimum. You can try trading in the forex market, where trading with amounts under $1000 is more doable.

Why do day traders fail?

Most day traders fail to make money in this market due to a simple lack of knowledge. Knowledgeable day traders will implement tools that allow them to strongly and easily manage their trading, such as position sizing and stop-loss. This allows the in-the-know trader to decrease risks while maximizing their profits! Do research on these money-management options before you start any kind of day trading.

Why do you need 25k to day trade?

Because day traders ultimately hold no leverage at the end of the day, they don’t have the collateral in their account to cover the associated risks. A minimum of $25,000 has to be firmly in your account before you can start day-trading, and you will need to keep this amount in your account at all times while making day trades. 

How do I become a day trader with $100?

How to begin a day-trading side-gig with only $100:

  1. Choose a brokerage. Having a brokerage will allow you to trade in any manner you wish, and help with the organization of your trades. 
  2. Pick which securities you wish to trade in. 
  3. Develop your own strategy. Research different strategies ahead of time, and make sure you keep a close eye on changes throughout the day. 
  4. Start trading!

 

Who is the richest day trader?

One of the most profitable day traders on the forex market is Paul Tudor Jones. His net worth has topped $4.5 billion. Paul holds a degree from University of Virginia in economics.

 

What is the day trading rule?

In the United States, there is a rule called the “pattern day trader” rule, established by FINRA. This rule stipulates that one cannot make more than 4 day trades within a single business day, for a 5 day period. Additionally, these trades must not account for greater than 6% of your overall trades.

 

Can you day trade from home?

Day trading from home is a viable option to earn some extra cash. Suggestions for trading stocks are to trade close to the market open and close (for US Markets) and to trade close to the US open or throughout the European session (in the forex market) for the best results.