​Trading Strategies > Intraday Trading​ > Day Trading for Dummies

​Day Trading ​for Dummies

​The ​Beginner's Guide To Day Trading
(20​20 edition)​

​Day trading - ​also called ​intraday trading - ​refers to the opening and closing of trades within the same ​day.

​This ​style of ​trading ​is very ​popular among ​beginners, as it ​is often ​portrayed ​as a quick, easy, and exciting way ​to ​make money.

​​Practically however, ​day ​trading is ​the most ​​challenging form of trading​, and ​those who try it ​typically ​fail.

It also doesn't help that the vast majority of trading "educators" out there are not profitable traders, but ​​savvy​ ​marketers ​pretending​​​ to be​ one.​

day trading for dummies

So before you do ​anything else​...​

​​Check ​Your Learning Sources

​Before ​taking any trading advice, first ​ensure that it's ​coming from someone who ​can demonstrate some level of ​trading competency​ on a ​3rd-party performance tracking platform.

This ​applies to the ​book ​authors you ​follow, ​trading experts you listen to, and online forums​ you visit​.​

In the spirit of transparency, therefore, here's my verified ​track record ​on Myfxbook:

Now with that out of the way, let's get down to business with ​this dummies guide ​to day trading.

Here are the topics we'll cover:

​How Do Day Traders Make Money?

Day traders ​identify ​short-term profit opportunities ​within the small price fluctuations of each day.

​They typically do this ​​with:

  1. ​News ​services,
  2. Technical indicators, and
  3. ​An understanding of ​order flow ​mechanics

1. ​News Services for Dummies

Short-term prices can be heavily​ influenced by political ​or economic news​.​

​Here​ ​are some example​s:

how do day traders make money