Day trading is where a person buys and sells stocks, options, or other financial instruments within the same day. The goal is to make a profit by taking advantage of small price movements in the market.
In day trading, a person will buy a financial instrument at one price and then sell it at a higher price, hopefully making a profit. They may do this multiple times throughout the day, buying and selling different financial instruments as the market changes.
Day trading can be extremely risky, as it requires a lot of skill and knowledge to make good trades consistently. It also requires a lot of time and attention, as you need to be constantly monitoring the market to make sure they are making the right trades at the right time.
Overall, day trading can be extremely risky and is not generally recommended. It’s important to do your research and understand the risks before getting involved.
If you’re looking to get some practice, consider checking out Webull. It’s a trading simulator where you can test your strategies risk-free and commission-free.
Check out this post for recommended books on general investing.