Is Day Trading Profitable?

To answer this question, is day trading profitable ? I will first establish a few points as the foundation. Whether day trading is profitable depends on 4 areas. Only when we are have mastered these 4 areas, then day trading can be very profitable.

These 4 areas are

1 Start up capital

You need a certain level of start up capital to make money from day trading. Depending on the instrument that you are trading, the margin required may be from 2% for forex, to 20% for commodities. Due to the leverage nature of trading, you do not need to put up the full value of the contract.

For starters, even for a small trading account, you would still need to fund about $10,000.

2. Technique and skill

Another important factor that will determine whether you are profitable with day trading is your level of skills in the techniques being applied. There are many techniques that day traders use to determine entry points, take profit and stop loss levels.

This ranges from reversion to the mean strategy to moving averages spring strategy and many others more. Moreover, different strategies makes use of a range of technical indicators which you would have to master.

We make money from day trading primarily by exploiting 2 concepts. One is the idea of trading in the trend whilst the other is trend reversals. All of the strategies and technical indicators is to help to decide on playing on either one or the other.

You can find out more about the different strategies Here

3. Experience

Another crucial factor that determines how profitable day trading can be is the experience of the trader. A day trader has to be nimble to be profitable. The mantra is to get in fast, get out faster. This takes experience to exploit trend and short term trend reversals within the longer term trend. This is especially true during times of great volatility surrounding major events and announcements.

Day traders can trade anywhere from 1-2 minutes charts, up to 30 minutes chart. As the time duration is short, the price movement tends to be smaller in magnitude and therefore the size of your position relative to your account capital is crucial in determining your profitability and risk management. All these take experience

4. Control of emotions and mental strength

One of the most important factors to determine whether you can make good profits from day trading has more to do with your emotions and mental strength rather than anything else.

Day traders cannot let their emotions get the better of them or they will lose a lot of money. To profit from day trading, traders have to keep their emotions in check. When we got it wrong and our position is taken out by the stop loss, we have to continue and set up new trades.

When we have mastered the techniques and strategies and based on our experience, we must be confident that our winning calls to outnumber our losing calls. Another way to ensure that our wins will be bigger than our losses is risk reward ratio that we set for each trade which is usually 1:2. This means that when we win, we win double our losing trades.

Mental strength is very important in that we must have the mental strength to stick to set up trades based on what is identified. Many times, we tend to end up having more losing trades when we lose this discipline, get overcome by emotions and set up trades that should never have been set up.

Is Day Trading Profitable ?

Once you have control of the 4 factors, day trading can be extremely profitable. For the same amount of startup capital, there can be many trading opportunities over the day. With such velocity, as long as we have a risk reward ratio of 1:2 and executes a higher number of winning trades over losing trades, the profit potential is huge

Preparing to Buy a Car in the Times of Covid-19

Coronavirus is spreading throughout the world. Its effects were first witnessed in China, whereas now Europe is the epicenter of the maximum cases. Cases in America are also rising every day.

The effects of the pandemic have caused a disruption in our economy, steep stock market losses and a standstill in most business sectors. In these tough times, would it be safe to purchase a car? Let’s take a look.

How to Prepare to Buy a Car during Lockdown?

1. Are Auto Dealerships Functioning?

The situation varies from state to state. Auto dealers are still open in these tough times of fighting against Coronavirus. For instance, someone may require a car to reach the hospital or healthcare workers may need a car to commute to and from their workplace. However, strict guidelines outlined by the World Health Organization are being followed at auto dealerships. Auto dealers are practicing social distancing, offering to deliver the purchased cars to your homes, maintaining hygiene and eliminating all in-showroom activities. Additionally, online auto dealers can help you with your car purchase.

It is best to avoid going to the dealership. Instead, call the dealership lot and ask them to mail you the prices online.

2. Can I Research the Cars Available?

Buying a car may not be the primary need for you right now but you can use the free time to research the best available options. You may not be able to visit a dealership to research the different cars. However, you can use auto portals to make the most of the digital tools. Research the type of car that you wish to purchase. Try to narrow down your needs and understand whether you wish to purchase an SUV, sedan, hatchback, luxury car, etc. On the basis of the make, model and type of car, you can select the car that you wish to purchase.

3. How will Auto Financing Work in these Times?

Once you have selected the car that you want to buy, the next step is auto financing. The best-case scenario for buying a car as soon as you are out of home is to get a pre-approved auto loan. Auto dealer websites will help you figure out the monthly payments you can comfortably make, your current debt-to-income ratio as well as the approximate interest rate to be charged on your auto loan. Therefore, make the most of your time and get pre-approved for your auto loan.

Prepare for buying a Car: Make the Most of Staying Home

In the current scenario of the Coronavirus outbreak, it is imperative that you stay home. However, it does not mean that you cannot work during this time. Research and find out how to purchase a car. Set your financial budget, use auto dealer websites to your advantage and get a pre-approval on your auto loan.

How to verify the FSSAI License Number Online?

Food business operators in India should follow the FSSAI instruction such as the food safety audit conducted in food serving, importing, manufacturing and storing across India. Regular inspection of FSSAI registration and FSSAI license among the food business operations in India.

Every food business operator in India must obtain an FSSAI food license online before starting their business. It is mandatory to mention the FSSAI license number on the product and within the premises.

However, if you want to check and verify the FSSAI license number and do a validity check. In order to check the validity of the FSSAI license number, we must first know the structure of the FSSAI license number.

How Does FSSAI License Number Look Like?
The 14 digits FSSAI license number is issued to all types of food business operators in India. Basically, there are three different types of FSSAI registration are done depending upon the scale of the business. These FSSAI license 14-digits numbers are divided into 5 groups. Each group represents and shares information regarding the type of food business, that differentiates a business from each other and thus FSSAI authority recognizes the category of food business operator.

How To Check FSSAI License Number Online?
Steps to check FSSAI license number online:-

Step 1: Visit the FSSAI government portal

Step 2: Search and Click to FBO search option

Step 3: Enter your FSSAI License Number & click on the “Submit” button,

Step 4: A new webpage will appear, showing complete details of food business operators with validity.

If you are a food business operator & your FSSAI License number validity is over then you can apply for FSSAI License renewal or you are starting a new food business then you can obtain new FSSAI Registration.