Different Types of Day Traders

Day traders have different schedules and portfolios and may make their trades in various markets throughout the world. The only common trait among the profession is profit-seeking, and managing some form of risk. New technology and computers have given day traders the ability to schedule their activities using automated systems that can run 24 hours of the day.

The nine to five workday is only discretionary for day traders, and many of them are undoubtedly attracted to the idea of working from home and working only half the day or even less. It is possible for experienced day traders to work just a few hours a day. The restriction of hours is due to automated systems which can schedule possible trades. Market movement is predominant in the morning hours, and automatic trading factors this into trade recommendations. Many day traders simply work in the morning, execute their strategy and then review their work. This leaves them with time for other vital areas of their life.

Profit and lowering risk are the primary goals for day traders. This can be achieved as long as a good setup for automated systems is in place, or manual traders have perfected their execution of a trade using computerised systems.

The job of a day trader is merely to identify and execute a trade, analyse the market while trade is happening and research if that is required. Focus, and knowing the correct sources for their job, takes practice. It is recommended that day traders spend some months training before even entering the markets.

Day trading is a real 24 hour profession, offering vastly different schedules to people all throughout the world. Manual trading and automated trading is discretionary, and can often be interchangeable. This allows flexibility, and lowers the risk for many day traders, making the profession accessible and attractive to many.