Would You Consider a Career in Day Trading as a Stay-At-Home Parent?

Day traders buy stocks on the market and sell them the same day for a profit. A professional day trader takes advantage of the minor price changes on the market within the same day.

Image credit: Stuart Miles | FreeDigitalPhotos.net

If you are a stay -at-home parent and you have a computer, high-speed Internet and some money to invest, maybe you should consider day trading.

This way, you will have something else to do, besides laundry and dishes, and there is always a chance to make some good profits. You can be in your pajamas, playing with your kids.

All you need is to check the market opportunities on your computer from time to time during the day, and you can earn some serious money.

But even though this sounds like a lot of fun, you need to be prepared if you want to succeed in the world of day traders.

Strategies

First and the most important thing is to develop a trading strategy. You don’t want to “wander around” the market and lose all your assets. That is why you need a good plan.

Learning and understanding how the market works is the first thing you have to do to define your strategy and develop your personal trading style. There is a lot of literature on this subject, so explore and learn.

You can also take one of many “day trading” courses online when your kids are sleeping. Once you know how the market works, implement your strategy and stick to it at all times.

Choose the right platform

A day trading platform is automated software that helps you follow indicators on the market online. This is what enables you to work and make money, even though you are a stay-at-home parent.

Another good thing about day trading software is that it can help you decide whether you are going to be a day trader or not. If you are not sure about your decision, you can always try “free trial” options, like the Equity Feed free trial platform.

This way, you have the chance to use a professional day trading workstation platform for enough time to realize whether you can manage to be a stay-at-home parent and a day trader at the same time.

There are a variety of day trading platforms to be found. Most of them are very similar but with subtle differences in options and features. Depending on the developer of the platform, prices vary.

Discipline

Once you put real money on the market, you have to realize that if you lose, it is really lost. You don’t have to trade every day. It is called day trading, but any good day trader will tell you that it is better to be disciplined and patient than trade at any cost against your interests.

Wait for a good opportunity. Don’t be greedy and stick to your original strategy.

Some studies show that nine out of 10 day traders are losing money. What are they doing wrong?

They don’t research. They’re not disciplined and they’re not patient. Bearing in mind that you are stay-at-home parent and your kids are not going anywhere soon, don’t rush, learn the ropes, set realistic goals, and try to have fun while making some money.