Learning day trading for beginners: position size, fees and a practice plan with play money

What is day trading? Day trading, also called intraday trading, is short-term trading in which all positions are closed before the end of the trading day. The day trader aims to earn on price moves within the day, not on the long-term development of a company or a cryptocurrency. They trade equities, indices, currencies on the forex market, commodities or cryptocurrencies, often through leveraged products such as CFDs or futures. Trading runs in both directions: a long position bets on rising prices, a short position on falling ones. The advantage: nothing happens to your money overnight. Opening gaps, news out of Asia and weekend crashes only hit those holding positions. The price for that is many trades, tight stops and therefore high costs relative to the gain per trade. For learning, the distinction from the other trading styles helps: Trading styletypical holding timetrades per weekcosts relative to the targetScalpingseconds to minutesvery many, often over 50very highDay tradingminutes to hours5 to 30highSwing tradingdays to weeks1 to 5mediumPosition tradingweeks to monthsunder 1low In crypto there is no close, the market runs around the clock. Day trading cryptocurrencies the...