It seems that women often tend to be better at stock market investing than men, so combine that natural inclination towards better stock picking and the fact that you can play the markets right from your own home, and you can see why some moms are rocking the stocks.
You can easily check how your picks are doing when you visit Money Morning, and if you want to try and generate an income while juggling running the home, day trading might just be the way to do it.
Regular and consistent income
If you are looking for a way to generate a regular and consistent income from home, day trading stocks offer you the opportunity to achieve that aim.
You have to learn the ropes of course and work out how to develop a successful strategy in order to be able to spot the stocks that can turn you a quick profit, and just as importantly, find a way of identifying the stocks that you should avoid.
The other major point to consider is that you now have the chance to make full use of technology, which means that you could use a stock trading robot to carry out your instructions based on the criteria you provide.
This means that you could even be dealing and closing out profitable trades while you are picking the kids up from school or taking them to soccer practice. As a busy mom, I like a website that makes it as easy as possible to invest. That’s why I really like https://www.sofi.com/invest/fractional-shares/ which is user friendly and also lets me invest as little as $1!
It is perfectly understandable that you might simply dismiss the idea of day trading stocks as just another get-rich-quick scheme that probably arrives in your email inbox on a regular basis, but there are moms who are managing to earn somewhere in the region of $500 a day from day trading, and consider this to be a realistic target.
Developing a strategy
Understanding what day trading is might be simple enough, but beyond buying and selling a stock on the same day and profiting from the difference, when it is in your favor, there are some key strategies that you need to put into action.
In general terms, many day traders are seeking to make a profit by leveraging reasonable amounts of capital in order to gain from small price movements. To be able to fulfill that aim, you have to find highly liquid stocks where you won’t have any problems buying and selling.
You can also develop a strategy where you are trading penny stocks as well, which involves anticipating and buying into a price surge, so that you can sell your stock for a profit, as a short-term play.
It is fair to say that day trading in general is not for the faint-hearted and you have to be prepared for the highs and lows associated with this way of investing in stocks. What it takes to succeed on a basic level, is the discipline to use a well-thought out methodology and then stick to it, rather than let your emotions rule your trading.
Charts and patterns
If you are looking for some proven entry strategies, you need to concentrate on certain types of securities which are often ripe for day trading methods, mainly stocks that promise and offer liquidity and volatility.
You need the liquidity to be able to trade the stock freely when you want, within reason, and you also want the volatility to a certain extent, because this means that you might be able to profit from price movements as they happen.
In simple terms, if you find a stock that offers a high level of volatility, this should allow you greater profits though of course could incur losses, if the price moves against you.
One way of predicting these things is to use charts and patterns that show you the historical performance of the stock and shows you the movements.
Intraday candlestick charts are useful for providing basic analysis of price movements, and can help to highlight possible entry points for your trade.
There are also candlestick patterns that you can use to identify scenarios that tend to get repeated to help pinpoint a potential entry point, where you can trade in the hope of anticipating a predicted price movement.
If you are going to make profits as a stay-at-home day trading mom, you need to identify your risk tolerance levels and incorporate a stop-loss system that reflects that, and develop a strategy that works for you.
It might sound daunting, but you can soon get to grips with day trading and you could soon be enjoying a regular income.
Alisha Duncan has always had a head for numbers and entered the stocks and shares market several years back when she was home with her young son. She writes about day trading and penny stocks, her articles aimed at women.