Should I Quit My Job For Day Trading?

Although, the stock market offers many opportunities to make extra money, we highly recommend that you keep your day job and trade on part-time. Don’t forget that you still have to pay your bills. It’s important to keep your day job and dedicate one or two hours in a day to your trading business. Therefore, you will need three simple steps before beginning your trading journey: education and paper trading, personal development and real-world application with a small account.

First, you will need to start your trading education in order to master the basics of technical analysis, risk management, money management, and psychology of trading. Without the appropriate training, it will be almost impossible for you to be consistently profitable in the stock market. After your trading education, you will need to practice in a simulated trading environment to familiarize yourself with your trading platform and evaluate your trading strategies. Because, without training you won’t be able to survive in the stock market.

Second, you will have to work on your personal development to improve your discipline. Because if you’re not disciplined enough, the market will teach you discipline. When you start losing money you will learn better from your mistakes.

Third, most day traders start with an average trading capital ranging from $30,000 to $60,000. We understand most of our students do not have such amount in their bank account. That’s why our academy is focusing on small accounts between $300 and $6,000. The main reason we start with a small account is to give you the opportunity to learn the basics and reduce your risks. For example, it will be better that you start learning how to drive a car with a Toyota corolla than a Ferrari. Because if you can acquire the basic driving skills, you will be able to drive any car. The same principle applies with the stock markets. It’s better to lose $300 than losing $30,000.

In conclusion, day trading gives you the opportunity to make extra money on the side. It’s important to acquire the right education and practice safely in a simulated environment before entering the market.