Day Trading and Predicting Market Direction
By Dale Gillham and Janine Cox
General Advice Disclaimer
You acknowledge that the information provided by Wealth Within is intended for general use only and does not take into account your investment objectives, financial situation or advisory needs, nor does the information provided constitute investment advice. For this reason, any individual should consider the appropriateness of the information, having regards to the individual's objectives, financial or taxation situation and needs before acting on this information, and, if necessary, seek appropriate professional advice. In addition, it is important to understand that the risk of investing in the stock market is that you could lose some or all of your money. For more information please refer to our Terms and Conditions.
According to a recent report released by ASIC, there has been a spike in the number of people attempting to day trade with little to no knowledge or experience. Day trading short term for cashflow is something most traders dream of, but it is inherently risky for those who lack the proper education, which is why individuals who are new to trading unfortunately fail very quickly.
In fact, according to ASIC’s report a significant number of retail investors were getting it wrong during the recent stock market crash in March 2020, with net losses in one week amounting to $234 million. When trading the stock market for profit, you want to ensure you are trading with the odds in your favour. So in tonight’s show, Dale and Janine will highlight what you need to know to ensure you are doing just that.
They will also look at the challenges of predicting short-term market direction without the right education and why day trading is profitable for some, while for others it potentially costs them their life savings.
