Day Trading Rookie? These 33 Day Trading Tips Come as a Gift

Day trading can be very lucrative, but it is also very risky. If you are a beginner in the market and want to try your hand at day trading, then the following are 33 tips that you should consider using.

Stock Market Trader

  1. Start small

Beginner Trader

This is one of the most valuable day trading tips for beginners: to start small. It is always best to learn and start with the basics before you can invest a large amount of money. This way, you will be able to get a feel of the market and learn how to manage your trades without losing much.

  1. Use stop-loss orders

Stop-Loss Setup

Another day trading tip for beginners that you should learn is to use stop-loss orders. A stop-loss order is a type of order that is used to close a trade at a certain price. The use of stop-loss orders helps you to avoid the unlimited losses and to preserve your funds.

  1. Keep a trading journal

Trading Journal

The third day trading tip for beginners is to keep a trading journal. A trading journal is the record of your trading activities including the details of the trade and your thoughts and feelings at the time of trading. This is because by keeping a trading journal, you are able to record your trades, look for the mistakes you are likely to have made and look for ways to improve on your trading.

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