What Do I Need to Become a Day Trader?

In this article I will tell you the necessary prerequisites so that you can develop as a professional day trader on the stock exchange.

There are many who seek the freedom and money that this day trader profession provides, but few are the ones who have what it takes to be a really profitable day trader.

I like to divide these prerequisites into 3 Essential Factors,they are:

  • Time
  • Money
  • Mentality

I’m going to go through each one of them for you.

#1 – The TIME Factor

Make no mistake, day trading is an elite sport and any way to turn this activity into something “easy, simple and cheap” is merely associated with the commercial interests of brokers, platforms or fake educators.

The way to become a day trader and have this activity as a real source of income in your life, takes time.

I say both from the point of view of learning time and the question of time available during the day!

Available Time

The stock exchange (B3) operates between 9:00 and 18:00, and, the “prime time,” when the best opportunities arise due to the higher volume and volatility, is in the morning.

We know the vast majority of people are working in some job right now, don’t we?

So how do you track the market, train or do your operations in this way?

This time availability is one of the essential factors for you to be a day trader, know that.

So if you want to be a stock exchange day trader, you should have a period of at least 2hours a day in the morning to track the market and train.

Learning Time

In addition to the time available in the morning, you should understand that becoming good at the day trader is not something that happens in the short term.

Many are the ones who fall into this “siren song” that it is possible to learn day trade in a few months and get rich quickly…

Unfortunately, day trading is not a short-term solution to acquire financial income, you must prepare for a journey of a few years.

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#2 – The MONEY Factor

You will need money to learn, train and evolve as a day trader.

Understand from the beginning that the tool of this activity is money itself.

The Day Trader risks money to try to make more money. The day trader needs money to cover the initial learning losses, costs and the “ups and downs” of his performance.

Let’s look at a basic list of costs involved in the day trader profession:

  • Monthly cost of a professional platform for market reading and order execution.

  • Cost of learning (courses, training, books, hours of experience and acquisition of the necessary skills).
  • Operating cost (financial losses arising from “bad days”, indiscipline or operational errors).
  • Infrastructure cost (equipment, internet, office).

There is no escaping, you will need an initial capital to start and develop as a day trader, as in any venture.

Such costs can vary greatly, but at the end of a first year of learning can easily reach a cumulative of R$ 15,000.00.

So don’t kid yourself.

If you do not yet have a stable financial condition, if you are unemployed, if you do not have a capital reserve or some way to keep well, without relying on the day trade until you manage to be profitable, you are not prepared to develop healthily in this activity.

Think about it!

(You can delve deeper into this issue by knowing the Alerts | DTP)

#3 – The MENTALITY Factor

In all these years knowing thousands of students, I have realized that there are some psychological aspects that are fundamental for a day trader.

I can name a few:

A great ability to adapt and creativity to create new solutions and strategies, mental appetite for the study and deepening of knowledge, mental agility, absence of addictions or anxiety disorders, discipline, capacity for self-correction and independence to make your own decisions.

Day trading is an activity in which we are daily being proven in our self mental control and ability to deal with financial risks.

Everything that messes with money, it really messes with the psychological factor, too.

So it is important that you understand that people with some anxiety disorder or propensity to addiction may have in day trading a potentiating factor.

The lesson to be learned here is simply that to be a day trader you must have a healthy mindset and always seek habits and routines to keep it that way.

We’re dealing here with a high-performance activity, you know?


Maybe these answers aren’t quite what you’d like to hear…

Most of the material available on day trade on the internet tries to make you believe that it takes “a little study and discipline” that you will be able to, in a few months, learn how to make money in the market and quit your job.

However, what you need to be a day trader goes far beyond that!

Inevitably, you will need to have good self-knowledge and self-control, understand very well how the market really works, gain experience (which only comes with time) and have enough money to prove itself in the market.

Moreover, without a true “passion” for the day trade you will not have the willpower necessary to learn without succumbing to adversity.

We call this resilience and this is also a key feature for you to win as a day trader.

I hope you helped,

Good Studies and Good Trades!