On $30,000, no more than $300 should be risked on any single trade. In addition to knowledge of day trading procedures, day traders need to keep up with the latest stock market news and events that affect stocks. This can include the Federal Reserve System’s interest rate plans, leading indicator announcements, and other economic, business, and financial news. It takes discipline, capital, patience, training, and risk management to be a successful day trader. Our partner, XM, lets you access a free demo account to apply your knowledge. However, it would be a good idea to maintain at least $30,000 to be able to tolerate some losses, without facing any restrictions before you can trade again. The money you save today by making a timely exit is equivalent to money earned. If you feel the terrain getting too uneven, there is no shame in exiting. Analysts often fail to anticipate changes in earnings and the factors that drive them, like evolving consumer habits, new-product cycles, or the rise or fall of a competitor. Trading is never easy, but it does not require exceptional intelligence either. Trading is often viewed as a high barrier-to-entry profession, but as long as you have both […]