Last Updated on September 9, 2020 by Jason Wilson
UK is considered to be one of the world’s strongest economies but the 2008 recession proved that its not immune from the economic ups and downs. No matter what the condition of economy is, people are ready to take risk and one of them is day trading online.
Daytrading is just like stock and share trading but here the trade is done within a short period of time and it is considered to be one of the fastest way to make money in the share market. But remember, with lots of money comes lots of risk. Its been also reported that many traders have lost money is quick succession, so it is advisable to know all the risk and process of trading before even thinking about investing in daytrading.
But thats not where the story ends. If you have a good trading strategy and a strong guidance, making money in stock market is not a big deal at all. Follow the steps to have a better experience in daytrading.
1. Choose a few stocks in any industry or combined. (For eg. Oil and gas, Mining, Bank etc.)
2. Now, please be patient and analyze the stocks you have chosen
3. Analysis includes having a look at the RNS (Regulatory news service), company’s management, and share holders.
4. The next step would be getting inside the chat room, where you can talk to other buyers and sellers.
5. This is a good way to find out what the next big time company might be, but you have to know if the people with whom you are chatting are “share ramping,” which is the process of taking up the shares artificially.
6. These people who are called as “rampers” get inside the chat room, and convince all the other members to invest in a particular stock in which they might have invested already.
7. So you have to take the risk of guessing if this person is correct or not and if the information he provides is authorized or not. With the latest techologies and innovations, daytrading can also be a big trouble because of the nature of trading and could be potentially dangerous. But with your trading knowledge and professionalism in selling and buying shares, making profit from daytrading will be easy in no time.
8. The day trading should not be used by beginners, as the risk of losing money is too high. So start with normal trading stocks where you wait and see the results and get used to profits and losses.