But they may also enter a trade one day and exit the next day. Or they may hold something for several days. Active traders will however keep a reasonably close eye on the market. This is largely because if they re looking for gains over a short period of time, the chances are they re trading in volatile stocks. First of all there s the mindset.
Trading takes organisation and discipline .
The shorter the time frame you re looking at trading, the more organised and disciplined you need to be. As you can well appreciate, if you re going to day trade, you also need to be able to make decisions very quickly . Of course, if you have a written trading strategy with rules you stick to, you won t be unduly swayed by emotion when the market starts to run. Lifestyle is also something to consider. Many people start trading as a means to supplement their income .