Day trading is a very specific line of work and everyone I come across on my travels is usually very curious about it. Similar to many finance, stock, or trading jobs, this career path in particular holds a certain allure for many.
When you think of a day trader, the important thing to remember is how different they are to investors and swing traders. As the name suggests, day traders begin and close all of their business in one day. To put it simply, it involves buying and selling stocks in one day. For more information see this blog post that explains it fully.
Starting off in this profession is always tricky and requires research and a lot of courage. There are a great deal more resources available now than there were 10 or 20 years ago. Not only are there blogs similar to Wandering Trader, but it is also easier to seek advice from fellow traders online.
Creating a blog
For me, it was a no-brainer to merge my passion for both day trading and traveling together in the form of a blog. The first thing to do was to think of a catchy name and find a cheap domain with a company like this one. Choosing a webhost comes down to your personal preference – how much web design experience you have, what aesthetics you enjoy, and how much money you want to spend. The next step was creating content, and this came to me very naturally. Writing your blog posts and taking pictures can be thoroughly enjoyable and an amazing way to take time off work and relax. It can also be a very enjoyable method of sharing some of your experience with others in the industry. Although a popular industry, those who succeed can in fact form quite a close-knit community.
Create a comfortable work space
Whether basing yourself at home or at a co-working space, or perhaps you may have no one specific base but rather many, there are a few important things to remember in order to ensure a comfortable work space. The first and most important thing is a fast internet connection – this may be obvious but it is a key element in this line of work. The next is of course the right tools: a good computer is paramount to your success and so too is the correct software. Overall, you need to feel secure and relaxed in your work space in order to allow for a possibly stressful day at work.
Relax, unwind and de-stress
As day trading can be a high stress job, it is always important to allow yourself time to relax and unwind. With such a great risk and potential loss attached to trading, this may of course cause a lot of stress. Whether you’re sitting at your computer for one hour or eighteen, just how stressful your session is going to be is always very hard to predict. Activities like yoga, meditation or cooking may help you to reduce the stress a bit.
Even if you are based at home or in an office space, getting away for a break is always a good idea. If you are afraid of missing out on particularly good trading days, then take your work with you, just in case!