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1) Don’t let your ego get in the way of a trade. 2) YOU are always responsible for the outcome. First, although a trader needs confidence and trust in his abilities and his method, he has to understand that he cannot control the outcome. The market dictates what is going to happen and a trader’s job is to react accordingly.
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Canadian day trading regulations are less strict than in other countries like the United States. For example, in America, there is the Pattern Day Trading rule which flags you as a day trader if you make more than four trades in a week. This affects your taxes and requires you to have at least a $25,000 margin account.
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Some of the key steps to becoming a day trader include: conducting a self-assessment, understanding securities and the market, arranging sufficient capital, setting up and integrating a trading ...
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