Practice Day Trading
It takes both knowledge and skill to trade the financial markets profitably on a daily basis. With learning you gain knowledge, and you get to understand the key concepts in the markets. But knowledge alone is not enough. Traders must practice day trading to develop the needed skills.
Certain traits of successful traders, such as their ability to manage their emotions effectively and the ability to recognize market patterns, can only be developed through a continuous and relentless practice process. This is because success as a trader is a matter of having good habits rather than mere knowledge.
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But the challenging part is that most traders have little capital to begin with, and it may not be enough to generate rewarding profits. With little capital, traders may be motivated to practice day trading by buying and selling small penny stocks. Those stocks are prone to value miscalculations, behave differently from regular stocks, and the vast majority of them do not pay dividends. Thus, they offer little insight into what it is like to trade the regular markets.
To acquire the needed skills, traders need to practice day trading by buying and selling regular well-known stocks, such as the famous technology stocks in the FAANG index (Facebook, Apple, Amazon, Netflix, and Google). The companies behind those stocks have large market capitalization’s and display the regular patterns usually seen in the markets. But given their market value, a relatively large capital is needed to trade those stocks.
Intro Day Reading Program
Tradenet intro program can give you the chance to have access to this capital if you have the needed skills. It offers you an education program that is tailored to help you learn the important concepts quickly, and gives you access to our live trading room where you can learn from seasoned traders. Together, the intro education and the access to our live trading room can significantly shorten the time needed for you to sharpen your trading skills. Additionally, when you join the program you become eligible to apply for a funded account. Successful traders receive $14,000 in capital to trade with.
Join our intro program and apply for a funded account*
*Disclaimer: Tradenet does not provide funded accounts or day trading services. Tradenet provides its students the ability to get in contact and apply for a funded account with third-party investment firms who provide funded day trading accounts. Tradenet is not responsible for any dealings between its students and the aforementioned third party investment firms. Tradenet urgest its students to perform an in-depth market research before deciding to start any day trading account, funded or otherwise.
Practice day trading without money
Another option for you is to practice day trading without money, which is a safer option for new traders. A large percentage of newcomers fail in the market. They blow their accounts many times before they can become successful. Every trader must go through a learning curve before they can be consistently profitable. To gain experience without the risk of losing their capital, traders need to practice day trading free online with a demo account. This can help prepare them for trading in real market conditions.
If you are an experienced trader who lacks the capital, we can help you. Our five-day demo trading challenge rewards successful traders with funded accounts* that provide access to capital starting from $14,000. You get to keep 70% of any profit you make on your funded account.
How it works
The first step is to apply to the five-day demo trading challenge. Then, you will be given access to a demo account with $10,000 in capital to trade. To be eligible to receive a funded account you must make a net profit of $500 by the end of the week. If you are successful, you get access to the education package, the live trading room, and $14,000 of a funded account* with which to trade. The purpose of this challenge is to identify skilled traders and provide them with a fair chance to trade the markets. Thus, it is limited to traders who have experience trading. You must read the full terms and conditions before applying. Read all about it on our day trading challenge page.
If you are not ready for the challenge and feel that you need to practice day trading more, then access to our live trading room can give you a huge boost. We offer you free access to our live trading room for 14 days. In the room you will see professional traders making trades live, and get a chance to copy their trades, share and discuss trading ideas, and get instant feedback on your performance. This can increase your chances of passing the day trading challenge. After the 14 days, you can keep your access by buying into the intro program.