Day trading sounds like a fun job, doesn't it? You get to stay home and make money simply by sitting in front of a computer in your pajamas. All you have to do is log onto the Internet and buy, check up on, and sell stocks for a couple of hours a day. You can even automate your buys and sells and have a daily report of your stock activity e-mailed to you. If you know what you're doing you can make tons of easy money.
Or is that wishful thinking? Can it really be that easy?
The truth is that it is not as easy as it sounds. You still have to invest your time researching stocks. You still have a degree of risk. You still have to account for trading fees in your profitability calculations. You still have to have money to make money.
Computers and the Internet make day trading a lot more automated and a lot more efficient. And that includes the research aspect of day trading. Gone are the days when you would have to spend countless hours researching among hundreds of stocks to identify the best ones worth investing in.
Now, with the tools and technology that are available to us at our disposal, we can cut our research time hundredfold, and we can make much more sound investment decisions, because our research will be based on mathematical number crunching, data analysis, and precision-based statistical probability.
Computers can extrapolate the future behavior of stock trends based on past performance with a surprising degree of precision and accuracy.
formulating trading plan
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