In the most, day traders don't have the capital, techniques...

In the most, day traders don't have the capital, techniques strategies, knowledge, practices and procedures necessary to make money, as all are competing against professional, highly experienced, licensed traders employed by Brokers & Security Firms.

IMO, it is very rare for any day trader to continue to derive ongoing profits (perhaps 15% do). Eg. Assuming a trade costs $20 a pop and you trade 30 times a day, a day trader would have to earn approx. $150,000 p/a to cover brokerage alone.

It really does worry me when so many are dealing in CFDs - it is a sure way for the inexperienced & unsophisticated to lose your house as it can lead to extra-ordinary losses. IMO, CFDs are only a vehicle for the bank to take your money off you at a faster rate. If you can't afford to lose the investment, don't invest.

My advice would be to, for those with high cash flow/assets, ($2.5m assets or $250K gross income for 2 years), is to seek certification as a soph. investor.

For those well off, you can also become a Professional Investor ($10m p/f). Both certifications will increase your chances of profiting as Brokers will offer placements to you at substantial discounts to the vast majority of day traders.

Otherwise, be very careful when anyone suggests to you it is easy and all that needs done is to follow a 5 step method as day traders, in the main, come a very long last in the food chain, hence the daily scramble for cash flow due to adrenalin based decision making. Everyday, Hot Copper symbolises this.

I'd be very very careful, but, in the main, I welcome day traders as they create liquidity in the markets. However, again I underline that IMO, most day traders are riding the next lottery ticket penny stock that is either moving due to news, or nowadays on basic T/A, with little idea what they are trading and why.

My suggestion is clear.

Why risk so much whilst the odds are clearly stacked against you? IMO, day trading as a business, for people who clearly have very little idea about the truisms in the market place, is fraught with danger.