Of course, there is a danger that other sellers will undercut your order. In an odd sort of way, day trading requires patience and you can not be greedy. On one hand, you are looking to sell your stock as quickly as possible. On the other hand, you must be patient enough to take a very small profit when you can get it. A true day trader is always satisfied with a profitable trade, even when the profit is very small.
Day trading requires a keen eye and a thorough understanding of stock trading principles.
For the right type of player it can be exciting and profitable, but even the best day traders in the best markets have bad days. When you buy a stock and the price tanks you are forced to make a difficult decision. Or do you hold your stock hoping that it will rebound. In other words, once you buy a stock and the price goes down you may want to hold onto it for the long haul like a typical investor. This is NOT investing - Please read our disclaimer.