Article: Avoid Day Trading Your Dollars Down The Drain
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Avoid Day Trading Your Dollars Down The Drain
Day traders quickly buy and sell stocks during the day, hoping their stocks will continue climbing or falling in value for the seconds to minutes they own the stock. This allows them to lock in quick profits. Day traders usually buy on borrowed money, hoping that they will reap higher profits through leverage.
Day trading, however, can be highly risky. Most individual investors don't have the wealth, time, or temperament to make money and sustain the devastating losses that day trading can bring.
Here are some of the facts that every investor should know:
- Be Prepared For Severe Financial Losses
Day traders typically suffer severe financial losses in their first months of trading. Many never graduate to profit-making status.
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