How to Day Trade for a Living (Beginner’s Guide)
Now that you’ve planned to become a day trader, you must be having a market in mind where you wish to start trading.
The job of a day trader is to watch out for a repeating pattern and then target exploiting it.
Consistency is the key for a day trader, whether a beginner or a seasoned trader, and the best way of increasing consistency is to trade at the same hours every day. While there are traders who trade through a long duration, there are others who trade just during a portion of the day.
If you’re interested in day trading in the stock market, the most appropriate time would be the first 1-2 hours after the open and the one last hour before it closes.
To adopt a good strategy at day trading, 9.30 a.m to 11.30 a.m is considered as the most volatile period of the day when you have the highest potential of making returns from the most significant moves in prices.
At the same time, the last hour, 3 p.m to 4 p.m, is also a favorable time for trading as sizable moves usually take place at this time of the day as well.
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