Ask yourself a few questions Being a day trader is not as easy as what we imagine. Before you switch professions to make this job your permanent job, there are a number of things you should ask yourself, namely:
- Are you ready to sit all day to stare at your monitor screen?
- Are you ready to learn self-taught?
- Are you able to take risks?
- Are you ready to remain committed despite loss?
If you can answer these questions with confidence, then you are one step ahead to become a professional day trader.
Those are not even the bare minimum requisites to become a day trader if you ask me, especially the third question seems pointless since all of us take risks all the time since even getting out of bed can be considered to be a risk, what really distinguishes traders is the ability to take a calculated risk and if the trade goes against them they immediately get out of it regardless of the losses which they incurred, and the fourth question is misleading, after all many people think they will be able to handle their losses only to discover too late they cannot and then they take bad decisions because of it.