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The NASDAQ officially defines "pattern day trading" as placing four or more round-trip orders over a five-day period. Day traders serve two critical functions in the marketplace - they keep the markets running efficiently via arbitrage and they provide much of the markets' liquidity. Day traders will set limits of when to sell a falling or rising stock.
The market that has the largest price range should be the best candidate for day-trading. Day trading is a high risk game as it is very speculative in nature. In order to successfully day trade you must have access to real-time market data.
Access to timely information and fast execution of trades is essential to day trade successfully. Many day traders make dozens of trades every market day hoping to capture profits that arise from small intraday price fluctuations. Some websites have sought to profit from day traders by offering them hot tips and stock picks for a fee.
In day trading, every day starts with a clean slate. Day traders go bankrupt because they lose money, not because they don't make enough money. When day trading, set yourself a limit on how much you are prepared to lose on any particular trade.
It is vital that day traders have access to real time market quotes and activity because fluctuations in price can make or break a day trader if an order is delayed only seconds. A study in 1999 found that 70% of day traders lost money. Daytrading can be fun, but also stressful. Does day-trading offer advantages above and beyond position trading?
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