The secret to becoming a successful day trader
Day trading is considered one of the most stressful and riskiest professions in finance—in one day you could lose everything. Some surveys estimate the failure rate for day traders is above 90%. But while intraday trading is difficult, it’s not impossible.
So what are the secrets to becoming a successful trader? In the video above, Alpha 7 Trading Academy partner Doron Yoets shared with Yahoo Finance’s Seana Smith the characteristics that separate those who succeed from those who fail.
“You need to have drive and passion.” said Yoets, but also a deep knowledge of the markets. “The first thing they really need to understand before anything is gauging the difference between a good market and a bad market.”
“Something you have to feel”