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How do you become a successful day trader?

PurpleTrades > Blog > Stock market > How do you become a successful day trader?

In the fast moving world, every one aspires to make money quickly and want to be a pro day trader.

With the technology upgrading every day, day trading is possible on your fingertips.

And the good news is, it is pretty much possible to be a disciplined and profitable day trader.

Firstly, For a day trader, fundamentals of a company are of no use, so never focus on them, they will only distract you.

Learn technical analysis and options in depth. Draw on charts and read them to forecast the trend and then trade accordingly.

As a beginner try trading in options only, as it has low risk but amazing returns.

improve your accuracy and trade after proper analysis only.

If you dont find any trade on a certain day, remain quite instead if entering into a halfhearted trade. some times sitting idle is also a good trade.

Experiment with few indicators and you will realize only few suits you and gives you accurate results, stick to those indicators only and trade using them.

Start with very small targets each day, it will improve your confidence, one you are capable of beating those small targets, slowly increase your targets and within few months you can be a successful day trader.

Remember, you will loose only if you enter a trade when you are not prepared and have not done your home work.

Happy trading ahead, hope this will help you.

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