Average Return of Investment That You Can Make By Being an Intraday Trader
Trying to become a millionaire through independent day trading is something like trying to become a successful actor or a professional athlete.
The study proves that a very few people will accomplish success and high-level of earnings while others will not be able to sustain a long-term career in it. To be a successful day trader, you need to have accurate intraday trading tips.
Getting started in day trading is not like experimenting in investing. Every would-be investor with a few hundred dollars can buy some stock in a company. Investors believe in keeping it for years.
However, you must know that the pattern day traders in the equities market must maintain a minimum of $25,000 balance in their accounts and will be denied access to the markets if the balance drops below that level. You can say that day traders must have enough capital on top of that to realistically make a profit.
And because day trading is more than a full-time job, it is not compatible with keeping a day job. It would be not wrong to imply that the day trader must live off his profits from trading as well as risk his own capital everyday to make those profits.
In addition to the minimum balance required, prospective day traders must consider the cost of equipment such as computer hardware and fast internet access. You can also get big dent in profits through brokerage commissions and taxes.