Start day trading and incorporate your interest in the financial markets (stocks, bonds, options, futures) with your new business. This is a great business for “geeks” who love to work independently, like to study analytical charts/graphs about various markets, and the ability to interpret the types of financial trends or forecasts which are occurring in the marketplace.
To become a day trader, you’ll be investing money in the morning and (theoretically) selling everything purchased by the end of the trading day (limiting the market risk associated with having money in the markets overnight). Your work hours will coincide with the stock market trading hours with market research being done outside of the market hours.
Being a market trader is best for individuals who prefer to work independently without much social interaction, are very focused, and have the ability to be laser focused on the very small details associated with a few different trades.
When you start day trading, it's very important to invest in continuous learning for yourself in order to develop your technical expertise, learn to recognize market patterns, and to research and understand sound financial strategies for your business.
Also assess how much capital you have to invest, what your risk tolerance levels are, and which system you will use (you'll want to master your system and be very comfortable with it prior to doing any actual day trading). If you plan to handle the financial portfolios of others, make sure to check on licensing requirements.
Resources: Computer, high-speed internet, day trading software
Time Required: 20-40+ hrs/week
Training: Advanced computer, financial markets, day trading software, and internet skills
Market: Personal investments, Individuals Who Wish To Invest In the Stock Market
Home Based: Yes
Location: Geographic Flexibility (Local, Regional, National, Global)
Start-Up Costs: $5,000 - $50,000+
Minimizing Start-Up Costs: Start day trading with a good quality software program that’s up to the challenge of this type of investing – many quality companies will also provide some market training along with the software. Educate yourself using “play” money while learning how your software works and to understand the markets you are specializing in. Identify good quality online tutorials to help minimize initial losses which may put an end to your investment career.
As you become a day trader, start by practicing and comparing your overall performance with the key market indexes (just as you would if you were hiring a financial analyst), then move to very small trades to build your market knowledge, and finally study the trades intensely to determine the best course of action throughout the day.