There is no such thing as a get rich quick strategy.   Most people get rich over time by hard work and effort.     So why do people think Day Trading is a get rich fix?  Is it really a way to turn a little money into loads of dollars?

You need to look past the hype to gain an objective picture of how day trading works, who's doing it and what motivates them. Most successful day traders are not greedy robbers and that day trading itself, although much maligned, is neither illegal nor unethical.

It is a risky business and should only be undertaken by people who fully understand the process.

Day trading involves buying and selling securities within the same day. Day traders often use borrowed money to take advantage of small price movements in highly liquid stocks or indexes. In general, they try to buy low and sell high in a very compressed window of time.

Day traders are some of the quickest-thinking and fastest-acting traders on the floor of the Stock Exchanges.

Note that Day Trading is not investing which is a long term process. Investment is buying a stoke in asset that will hopefully build a profit over the long term. How long is an unknown quantity but investors generally hold assets for years, even decades. They are often involved with the business they invest in and look for solid profits.

Day trading is a much quicker activity. These traders do not make one or two trades per day they expect to make twenty five to thirty. Therefore their profits multiply as they increase the volume of trades in which they deal. In order to limit risk, day traders generally won't own stock overnight because prices can change radically from one day to the next.

News events and corporate announcements often drive this market volatility, so traders must be available and ready to respond at a moment's notice. Unlike investors, who may wait until logic prevails or for additional information becomes available, day traders move quickly, making decisions in minutes, even seconds.
In between these two extremes, investing for years and trading in seconds, exist other investments and types of trading. Swing trading refers to holding a stake in a stock or commodity for several days. Position trading refers to holding a stake in a stock or commodity for several weeks or months.  All carry a certain amount of risk but day trading is probably the riskiest and the most controversial.

Here are some of the terms used in Day Trading.

Securities: Financial assets that can be assigned value and traded. Typical securities include stocks and bonds.

Derivative: A dependent security whose price is derived from one or more underlying assets and whose value is determined by fluctuations in the underlying asset. Futures contracts are a common type of derivative.

Stock: A type of security that gives the holder ownership rights in a corporation. If you own a company's stock (or own shares), then you are a shareholder.

Index: An imaginary portfolio of securities representing a particular market or a portion of it. The Standard & Poor's 500 is a well-known index.

Trade: To buy or sell financial assets in any of the financial markets.

Trader: A person who buys or sells financial assets for himself or for others.

Traders generally hold assets for a much shorter time than investors.

Broker: A middleman who facilitates trades between buyers and sellers.

Leverage: The use of borrowed money to increase potential returns.

Initial Public Offering (IPO): The first sale of a corporation's stock. Such a company is said to be "going public."

Liquidity: The ability to buy and sell an asset without affecting price levels.

Volatility: A measure of how much the price of a security will vary over time.

Closing Out: The process of completing all transactions at the end of a day. To reduce exposure to risk, day traders typically won't hold a position overnight

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