considering how the "market" is nowadays, isn't it better to do "day trading" and how does day trading work? is there a recommended site where you can start day trading yourself?
"Day trading" actually DOESN'T work if you look at the data, except for a tiny minority of speculators.
Over the long-term, the total value of the market grows, so it actually creates value and it is possible for all (or most) participants to gain; in day-trading, the ONLY way to make money is for someone else to lose money, since it is essentially a "zero-sum" game.
Day trading is buying and selling the same security within the same day or selling short then buying to cover the same security with the same day. Day trading results in double commissions and high turnover of your account, so your total net profits have to exceed the draw down from the double commissions for the strategy to be profitable.
what do u mean by how the market is nowadays? u meant it is going up? u meant it is volatile?
the fact is one can make money in any market, whether going up, or going down (thru short).
to be successful, u need to buy low and sell high, and the ability to know the low and high points during the day.
to start, you must have money and borrow some on margin to trade, and u open an account in a broker which charges low commission to trade, and have real time stock quotes.
I am a full time day trader and day trading is not necessarily "better" but you are less prone to huge market crashes. I would suggest looking into the course at TradingApples.com and possibly being a "swing trader"
To day trade more than 3 times in any 5 business day period in USA, you need at least $25,000 assets in a margin account. Other than that, you can use any broker.
One place that has all sorts of tools on their platform for real time techical analysis is thinkorswim.com. you can try their platform free for 30 days (or longer if you ask) with PaperMoney, but quotes and charts are delayed like public data until you fund an account. once an account is funded everything is real time.
They even have what they call "cash margin" which allows you to do things in IRA accounts that you cannot do elsewhere (just about anything except shorting stocks or selling naked calls).
