What Is Day Trading?
Day trading is one of the most common trading styles that is used by traders around the world.
This speculative trading style involves opening single or multiple trades during a day and exiting them by the end of the current trading day.Simply put, day trading is the act of buying and selling currency/stocks on the same day, based on price fluctuations.
What Is Swing Trading?
Swing Trading is a strategy that focuses on taking smaller gains in short term trends and cutting losses quicker. The gains might be smaller, but done consistently over time they can compound into excellent annual returns. Swing Trading positions are usually held a few days to a couple of weeks, but can be held longer.
Pros:
To begin with, most day traders work from home and don’t have hard-nosed bosses telling them what to do at all times. Successful traders may earn enough money to live life comfortably.They simply stay on task during trading sessions and commit to intensive preparation and before sessions. After settling upon a profitable strategy, they stick with it until it no longer works.
Cons:
Day trading can be rewarding, but it also carries a high risk. There is never a guarantee that you will earn money. A lot of people blow their account do to their mindset and they let their emotions get in the way. Another reason is F.O.M.O. The Fear of missing out causes a lot of trader to chase a trade and there for unable to make money in the markets
