How to make money day trading the right way

[ElecEquity]

It's a hard way to make an easy living.

 

[Zr1Trader]

Cut losses short, let winners run. Have excellent money/risk management. Cliche but thats what I find works.

 

[BwPirt]

I'm learning it's all about money management. When I started looking into trading, that would have been the last thing to cross my mind when I thought about being a "successful trader". Now I'm just trying not to be "self destructive".

 

[schizo]

Here's another regurgitation on the theme of money management. Don't be afraid to take losses. Just keep them on a tight leash.

 

[jeffgold]

If you want love, buy a puppy, not a stock!!!!

When in doubt, soes it out. (a saying from the 90's, but still works today)

 

[dwpeters]

Quote from stock777:

better yet, wizdom shared is rarely understood , appreciated, or used properly.

So true.

Re. "How to make money day trading the right way."

Why does everyone think that to be a trader they have to day trade? I work a 9 to 5 job and make good money on the side swing trading. I have nothing against day trading, it's just not my strength and there are alternatives.

As far as strategy, here's a good answer:

The market is very basic – you buy pullbacks in a trending issue, you buy divergences, or you buy breakouts from congestion areas. Likewise on the sell side. These things don’t change over time. Linda Bradford Raschke.