Day trading most commonly refers to the practice of buying and selling stocks during the day so that at the end of the day you don’t hold any shares overnight; you sell as many shares as you buy. You make money on the difference between the purchase and sales prices.
The main motivation for this style of trading is to make money every day so you don’t sit on the shares , plus of course you eliminate the risk that the shares go down in value overnight. the motivation of this style of trading is to reduce the risk of holding a position overnight where the open price may have significantly changed from the previous day’s closing price.
NASDAQ defined day trading by saying somebody is a Daytrader if he makes more than four buy and sell orders over a five-day period.
Prior to the year 2000 it was not uncommon for some of the most successful Daytraders to make more than a million dollars in a single day.
There were dozens of Daytrading Chatrooms where people were “told” what to buy and when to buy it.
Some Chatrooms had more than 500 members.
And most Daytraders, it is estimated as high as 99%, lost their...
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