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2021-09-10

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Day Trading: Rules, Risks, & Strategies<blockquote>日内交易：规则、风险和策略</blockquote>

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Before the Internet, only people working for large financial institutions, brokerages, or physical trading houses, could take part in the stock market in such an active fashion. Today, markets and transactions are accessible to almost anyone.<blockquote>由于在线交易公司的出现，现在进入日内交易游戏要容易得多。在互联网出现之前，只有在大型金融机构、经纪公司或实体交易公司工作的人才能以如此活跃的方式参与股票市场。今天，几乎任何人都可以进入市场和交易。</blockquote> <img src=\"https://static.tigerbbs.com/648c1300983659c803b16b3d0a0f74ec\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\">MoMo Productions/DigitalVision via Getty Images<blockquote>MoMo Productions/DigitalVision来自Getty Images</blockquote> What Day Trading Is<blockquote>什么达和Tr阿丁是</blockquote> At base, day trading consists of frequently buying, selling and short-selling equities in a short period of time, usually reversing out of several positions within the same trading session. The aim is to earn a profit on each trade, sometimes even small profits, and watch those gains compound. The practice can be risky, but also highly lucrative.<blockquote>基本上，日内交易包括在短时间内频繁买入、卖出和卖空股票，通常在同一交易时段内反转出多个头寸。目标是从每笔交易中赚取利润，有时甚至是小额利润，并观察这些收益的复合。这种做法可能有风险，但也非常有利可图。</blockquote> Day trading may sound enticing for those looking to make a swift profit, but it can be extremely challenging to make a formidable career out of the practice. In fact, a study published by the University of California, Davis, in 2010 revealed that only 1% of day traders consistently make a living from that practice.<blockquote>对于那些希望快速获利的人来说，日内交易听起来可能很诱人，但要从这种做法中获得令人敬畏的职业生涯可能极具挑战性。事实上，加州大学戴维斯分校2010年发表的一项研究显示，只有1%的日内交易者持续以此为生。</blockquote> But for the few who can succeed in the high-stakes world of day trading, it likely will consume most to all of their time. It is very much a full-time job.<blockquote>但对于少数能够在高风险的日内交易世界中取得成功的人来说，这可能会消耗他们所有人的大部分时间。这在很大程度上是一份全职工作。</blockquote> How Day Trading Works<blockquote>日内交易如何运作</blockquote> At its core, day trading is all about stock market volatility; day traders look for stocks that are on the move. Whether it’s positive or negative news which alters a stock’s trajectory, economic reports, corporate earnings, or simply a change in market mood, day traders cash in on rapid change. They enter and exit positions very quickly. Day traders must monitor positions closely, and often make quick, high-stakes decisions. There's no going to the pub for an afternoon drink hoping the positions they've taken will turn out.<blockquote>日内交易的核心是股市波动；日内交易者寻找正在波动的股票。无论是改变股票轨迹的正面或负面消息、经济报告、公司收益，还是仅仅是市场情绪的变化，日内交易者都可以从快速变化中获利。他们进入和退出头寸非常快。日内交易者必须密切监控头寸，并经常做出快速、高风险的决策。没有人会去酒吧喝一杯，希望他们所采取的立场会被证明是正确的。</blockquote> Something to note, opportunities are not limited to betting that an investment security will rise in price; traders can also profit by betting on downward price movements. Liquidity is also very important to day traders, even more so than other investors. Since day traders need to be able to move in and out of positions with ease, they need to look out for equities which are highly liquid.<blockquote>需要注意的是，机会不仅限于押注投资证券价格会上涨；交易者也可以通过押注价格下跌来获利。流动性对日内交易者也非常重要，甚至比其他投资者更重要。由于日内交易者需要能够轻松地进出头寸，他们需要寻找流动性高的股票。</blockquote> Key Takeaway: Day trading is very much about stock market volatility; day traders look for stocks making moves over short time spans. Most day trading strategies offer a lot of flexibility, allowing day traders to keep their positions open from a few minutes to a few hours. The amount of time that the position is open depends on how the trade is doing and whether the day trader can seize a profit at that time.<blockquote>要点：日内交易在很大程度上与股市波动有关；日内交易者寻找在短时间内波动的股票。大多数日内交易策略都提供了很大的灵活性，允许日内交易者在几分钟到几个小时内保持头寸开放。头寸开仓的时间长短取决于交易的进行情况以及日内交易者当时是否能获利。</blockquote> Day traders can consider a variety of markets such as futures, equities, currencies, and options. And they can have access to all the exchanges via a direct access broker. It’s one of the fastest and most affordable ways to engage in day trading.<blockquote>日内交易者可以考虑各种市场，例如期货、股票、货币和期权。他们可以通过直接访问代理访问所有交易所。这是从事日内交易最快、最实惠的方式之一。</blockquote> Methods of the Day Trader<blockquote>日内交易者的方法</blockquote> There are various types of day trading, each suited for different styles. They can range from short-term trading, where stocks are held for a few seconds or minutes, to more long-term positions where stocks are held throughout the trading day.<blockquote>日内交易有多种类型，每种都适合不同的风格。它们的范围可以从短期交易（股票持有几秒钟或几分钟）到更长期的头寸（股票在整个交易日持有）。</blockquote> Day trader strategies include:<blockquote>日内交易者策略包括：</blockquote> <ul> <li>Scalping:This method seeks to make many small profits on small price changes throughout the day.<blockquote><ul><li>倒票：这种方法试图在一天中的小价格变化中赚取许多小利润。</li></ul></blockquote></li> <li>Range trading:This method mostly relies on support and resistance levels to make decisions. (Support and resistance levels are concepts which assist traders to fully comprehend and act in the markets. Support refers to a price level where a downtrend is interrupted due to rising demand for an asset. Resistance refers to a level where an uptrend reverses a sell-off.)<blockquote><li>区间交易：这种方法大多依靠支撑位和阻力位来做出决策。（支撑位和阻力位是帮助交易者充分理解市场并在市场中采取行动的概念。支撑是指由于对资产的需求上升而导致下降趋势中断的价格水平。阻力是指上升趋势逆转抛售的水平.)</li></blockquote></li> <li>News-based trading:Here, day traders take advantage of volatility surrounding news events.<blockquote><li>基于新闻的交易：在这里，日内交易者利用围绕新闻事件的波动性。</li></blockquote></li> <li>High-frequency trading ((HFT)):This method utilizes algorithms to exploit small or short-term market inefficiencies.<blockquote><li>高频交易((HFT))：这种方法利用算法来利用小的或短期的市场低效率。</li></blockquote></li> </ul> Swing Trading vs. Trend Trading vs. Buy and Hold<blockquote>波段交易与趋势交易。买入并持有</blockquote> While a day trader closes out his positions at the end of each trading day, a swing trader can hold her positions for days to even weeks before selling. In&nbsp;swing trading, since there is more time for an equity’s price to increase, there is also more opportunity to profit. With the right selling strategy, swing trading can be much less risky than day trading.<blockquote>日内交易者在每个交易日结束时平仓，而波段交易者可以在卖出前持有头寸几天甚至几周。在波段交易中，由于股票价格有更多时间上涨，因此也有更多获利机会。有了正确的卖出策略，波段交易的风险比日内交易小得多。</blockquote> By contrast, trend trading involves using a stock’s past price movements to make predictions on its future trajectory. Since trend traders operate on a longer timeline, they can also gauge broader economic trends and business cycles to determine when to buy and sell a stock. This strategy isn’t usually applied by day traders or swing traders.<blockquote>相比之下，趋势交易涉及利用股票过去的价格变动来预测其未来轨迹。由于趋势交易者的操作时间更长，他们还可以衡量更广泛的经济趋势和商业周期，以确定何时买卖股票。日内交易者或波段交易者通常不采用这种策略。</blockquote> Meanwhile, buy-and-hold is often hailed as one of the best strategies available to investors. Under this approach, investors buy an asset and hold it for a few years or even decades, if they wish to, no matter what bumps occur along the way. The aim of this highly passive investing style is to ride out short-term market instability and losses in order to maximize returns over the long term. This is the basis for most long-term investing programs like 401(k)s and IRAs.<blockquote>与此同时，买入并持有通常被誉为投资者可用的最佳策略之一。在这种方法下，投资者购买一项资产并持有几年甚至几十年，如果他们愿意的话，无论一路上会发生什么坎坷。这种高度被动的投资风格的目的是度过短期市场不稳定和损失，以实现长期回报最大化。这是401(k)和IRA等大多数长期投资计划的基础。</blockquote> Buying on Margin<blockquote>保证金买入</blockquote> Day traders often use borrowed money to make trades, a method called “buying on margin.” With a margin account, a trader can use the securities they already own as leverage to borrow up to 50% of the value of the security they’re going to buy. Buying on margin can help day traders increase their profits substantially — far more than what they could have made using their own money. But the practice doesn’t come without risks. Leverage magnifies one's losses when trades don't work out, resulting in costly&nbsp;margin calls.<blockquote>日内交易者经常使用借来的钱进行交易，这种方法称为“保证金买入”。通过保证金账户，交易者可以使用他们已经拥有的证券作为杠杆，借入他们将要购买的证券价值的最多50%。保证金买入可以帮助日内交易者大幅增加利润——远远超过他们用自己的钱赚的利润。但这种做法并非没有风险。当交易失败时，杠杆会放大一个人的损失，导致代价高昂的保证金评级。</blockquote> Day Trading Rules and Risks<blockquote>日内交易规则及风险</blockquote> While day trading is neither illegal nor unethical, it can be extremely risky. In fact, the Securities and Exchange Commission&nbsp;warns on its website&nbsp;that the practice can result in substantial financial losses in a very short time.<blockquote>虽然日内交易既不违法也不不道德，但风险极大。事实上，美国证券交易委员会在其网站上警告说，这种做法可能会在很短的时间内导致巨大的经济损失。</blockquote> While conventional investing involves the careful analysis of stocks to determine whether an investment is wise, day traders use state-of-the-art technology and technical analysis to spot intraday trends. The risks to investors can be so grave that the Financial Industry Regulatory Authority has rules in place to monitor this fast-moving practice.<blockquote>虽然传统投资涉及仔细分析股票以确定投资是否明智，但日内交易者使用最先进的技术和技术分析来发现日内趋势。投资者面临的风险可能非常严重，以至于金融业监管局制定了规则来监控这种快速发展的做法。</blockquote> Key Takeaway: Day trading is neither illegal nor unethical, but it can be extraordinarily risky. The SEC warns that it can result in substantial financial losses in a very short time. In addition to the SEC, FINRA also provides oversight of day traders and enforces certain rules and limitations. For instance, it specifies that a \"pattern day trader\" must maintain at minimum $25,000 in equity on any day that they day trade. (A non-pattern day trader is only required to maintain $2,000). Furthermore, the required minimum equity must be in the account before any day-trading begins. And if the account slips below $25,000, day trading is not permitted until it is restored.<blockquote>要点：日内交易既不违法也不不道德，但风险极大。美国证券交易委员会警告说，这可能会在很短的时间内导致巨大的财务损失。除了SEC之外，FINRA还对日内交易者进行监督并执行某些规则和限制。例如，它规定“模式日内交易者”必须在日内交易的任何一天保持至少25,000美元的股本。（非模式日内交易者只需维持2000美元）。此外，在任何日间交易开始之前，账户中必须有所需的最低股本。如果账户跌破25,000美元，则在恢复之前不允许日内交易。</blockquote> A day trader may trade up to four times the account's maintenance margin excess as of end of business of the previous day. If a day trader exceeds that limit, however, the brokerage firm will issue a day-trading margin call. The day trader will then have, at most, five business days to deposit funds to meet that call. The brokerage firm can also charge a commission for these transactions.<blockquote>截至前一天营业结束，日内交易者最多可以进行四倍于账户维持保证金超额的交易。然而，如果日内交易者超过该限额，经纪公司将发行日内交易保证金看涨期权。日内交易者最多有五个工作日的时间存入资金以满足看涨期权。经纪公司也可以对这些交易收取佣金。</blockquote> Does Cryptocurrency Trading Count as Day Trading?<blockquote>加密货币交易算日内交易吗？</blockquote> Another way to get involved in day trading is via cryptocurrencies. But since they aren’t regulated by the SEC or FINRA, at least at this point, investors won’t have to worry about day trading limits.<blockquote>参与日内交易的另一种方式是通过加密货币。但由于它们不受SEC或FINRA的监管，至少在这一点上，投资者不必担心日内交易限制。</blockquote> Day Trading Taxes<blockquote>日间交易税</blockquote> Day trading doesn’t qualify for favorable tax treatment. Successful day traders are expected to pay income taxes just like traditional investors in the stock market. In very rare cases, day traders can apply for special day trader tax treatment with the IRS. To qualify for that status, the IRS looks for the following criteria: 1) Profit seeking must derive from daily market movements in securities' prices, not from dividends or longer-term capital appreciation. 2) Market activity must be high. 3) The investor must be trading with both continuity and regularity.<blockquote>日内交易没有资格享受优惠税收待遇。成功的日内交易者应该像股票市场的传统投资者一样缴纳所得税。在极少数情况下，日内交易者可以向国税局申请特殊的日内交易者税收待遇。为了获得该地位，美国国税局寻求以下标准：1)利润追求必须来自证券价格的每日市场变动，而不是来自股息或长期资本增值。2）市场活跃度要高。3)投资者的交易必须具有连续性和规律性。</blockquote> But for those who aren’t eligible, the following rules apply:<blockquote>但对于那些不符合资格的人，适用以下规则：</blockquote> <ul> <li>Day traders are required to pay taxes on investment gains in the year they sell.<blockquote><ul><li>日内交易者需要在出售当年为投资收益纳税。</li></ul></blockquote></li> <li>Day traders may offset gains against losses, but the gains they offset cannot total more than their losses.<blockquote><li>日内交易者可以用收益抵消损失，但他们抵消的收益总额不能超过他们的损失。</li></blockquote></li> <li>If positions are held for a year or less, ordinary income taxes apply to any gains.<blockquote><li>如果头寸持有一年或更短时间，普通所得税适用于任何收益。</li></blockquote></li> </ul> Is Day Trading for Everyone?<blockquote>日内交易适合所有人吗？</blockquote> For a new investor just starting to get into the markets, day trading likely isn’t suitable. Most day traders bring with them substantial training and knowledge about the markets. And with just one bad trade, large amounts of money can be lost very quickly.<blockquote>对于刚开始进入市场的新投资者来说，日内交易可能不合适。大多数日内交易者都带来了大量的市场培训和知识。只要一次糟糕的交易，大量的钱就会很快损失。</blockquote> Tip: Day trading isn't usually advised for newer investors. Most day traders possess substantial training and knowledge about the markets. Unlike brokers who trade other people’s money, day traders are putting their own assets on the line. That’s precisely why regulatory bodies warn investors of the pitfalls associated with this type of trading.<blockquote>提示：通常不建议新投资者进行日内交易。大多数日内交易者都接受过大量的市场培训和知识。与交易他人资金的经纪人不同，日内交易者将自己的资产置于危险之中。这正是监管机构警告投资者此类交易存在陷阱的原因。</blockquote> Many professional money managers even shy away from the practice of day trading. They argue that the benefits don’t warrant the risks. But for all the perils, there seem to be some people who can make a great deal of money.<blockquote>许多专业基金经理甚至回避日内交易的做法。他们认为好处不值得冒险。但是尽管有这些危险，似乎还是有一些人能赚很多钱。</blockquote>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Day Trading: Rules, Risks, & Strategies<blockquote>日内交易：规则、风险和策略</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDay Trading: Rules, Risks, & Strategies<blockquote>日内交易：规则、风险和策略</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nSeeking Alpha2021-09-09 13:51\n\n</h4>\n</header>\n<article>\nThanks to the advent of online trading houses, it's far easier now to get in the game of day trading. Before the Internet, only people working for large financial institutions, brokerages, or physical trading houses, could take part in the stock market in such an active fashion. Today, markets and transactions are accessible to almost anyone.<blockquote>由于在线交易公司的出现，现在进入日内交易游戏要容易得多。在互联网出现之前，只有在大型金融机构、经纪公司或实体交易公司工作的人才能以如此活跃的方式参与股票市场。今天，几乎任何人都可以进入市场和交易。</blockquote> <img src=\"https://static.tigerbbs.com/648c1300983659c803b16b3d0a0f74ec\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\">MoMo Productions/DigitalVision via Getty Images<blockquote>MoMo Productions/DigitalVision来自Getty Images</blockquote> What Day Trading Is<blockquote>什么达和Tr阿丁是</blockquote> At base, day trading consists of frequently buying, selling and short-selling equities in a short period of time, usually reversing out of several positions within the same trading session. The aim is to earn a profit on each trade, sometimes even small profits, and watch those gains compound. The practice can be risky, but also highly lucrative.<blockquote>基本上，日内交易包括在短时间内频繁买入、卖出和卖空股票，通常在同一交易时段内反转出多个头寸。目标是从每笔交易中赚取利润，有时甚至是小额利润，并观察这些收益的复合。这种做法可能有风险，但也非常有利可图。</blockquote> Day trading may sound enticing for those looking to make a swift profit, but it can be extremely challenging to make a formidable career out of the practice. In fact, a study published by the University of California, Davis, in 2010 revealed that only 1% of day traders consistently make a living from that practice.<blockquote>对于那些希望快速获利的人来说，日内交易听起来可能很诱人，但要从这种做法中获得令人敬畏的职业生涯可能极具挑战性。事实上，加州大学戴维斯分校2010年发表的一项研究显示，只有1%的日内交易者持续以此为生。</blockquote> But for the few who can succeed in the high-stakes world of day trading, it likely will consume most to all of their time. It is very much a full-time job.<blockquote>但对于少数能够在高风险的日内交易世界中取得成功的人来说，这可能会消耗他们所有人的大部分时间。这在很大程度上是一份全职工作。</blockquote> How Day Trading Works<blockquote>日内交易如何运作</blockquote> At its core, day trading is all about stock market volatility; day traders look for stocks that are on the move. Whether it’s positive or negative news which alters a stock’s trajectory, economic reports, corporate earnings, or simply a change in market mood, day traders cash in on rapid change. They enter and exit positions very quickly. Day traders must monitor positions closely, and often make quick, high-stakes decisions. There's no going to the pub for an afternoon drink hoping the positions they've taken will turn out.<blockquote>日内交易的核心是股市波动；日内交易者寻找正在波动的股票。无论是改变股票轨迹的正面或负面消息、经济报告、公司收益，还是仅仅是市场情绪的变化，日内交易者都可以从快速变化中获利。他们进入和退出头寸非常快。日内交易者必须密切监控头寸，并经常做出快速、高风险的决策。没有人会去酒吧喝一杯，希望他们所采取的立场会被证明是正确的。</blockquote> Something to note, opportunities are not limited to betting that an investment security will rise in price; traders can also profit by betting on downward price movements. Liquidity is also very important to day traders, even more so than other investors. Since day traders need to be able to move in and out of positions with ease, they need to look out for equities which are highly liquid.<blockquote>需要注意的是，机会不仅限于押注投资证券价格会上涨；交易者也可以通过押注价格下跌来获利。流动性对日内交易者也非常重要，甚至比其他投资者更重要。由于日内交易者需要能够轻松地进出头寸，他们需要寻找流动性高的股票。</blockquote> Key Takeaway: Day trading is very much about stock market volatility; day traders look for stocks making moves over short time spans. Most day trading strategies offer a lot of flexibility, allowing day traders to keep their positions open from a few minutes to a few hours. The amount of time that the position is open depends on how the trade is doing and whether the day trader can seize a profit at that time.<blockquote>要点：日内交易在很大程度上与股市波动有关；日内交易者寻找在短时间内波动的股票。大多数日内交易策略都提供了很大的灵活性，允许日内交易者在几分钟到几个小时内保持头寸开放。头寸开仓的时间长短取决于交易的进行情况以及日内交易者当时是否能获利。</blockquote> Day traders can consider a variety of markets such as futures, equities, currencies, and options. And they can have access to all the exchanges via a direct access broker. It’s one of the fastest and most affordable ways to engage in day trading.<blockquote>日内交易者可以考虑各种市场，例如期货、股票、货币和期权。他们可以通过直接访问代理访问所有交易所。这是从事日内交易最快、最实惠的方式之一。</blockquote> Methods of the Day Trader<blockquote>日内交易者的方法</blockquote> There are various types of day trading, each suited for different styles. They can range from short-term trading, where stocks are held for a few seconds or minutes, to more long-term positions where stocks are held throughout the trading day.<blockquote>日内交易有多种类型，每种都适合不同的风格。它们的范围可以从短期交易（股票持有几秒钟或几分钟）到更长期的头寸（股票在整个交易日持有）。</blockquote> Day trader strategies include:<blockquote>日内交易者策略包括：</blockquote> <ul> <li>Scalping:This method seeks to make many small profits on small price changes throughout the day.<blockquote><ul><li>倒票：这种方法试图在一天中的小价格变化中赚取许多小利润。</li></ul></blockquote></li> <li>Range trading:This method mostly relies on support and resistance levels to make decisions. (Support and resistance levels are concepts which assist traders to fully comprehend and act in the markets. Support refers to a price level where a downtrend is interrupted due to rising demand for an asset. Resistance refers to a level where an uptrend reverses a sell-off.)<blockquote><li>区间交易：这种方法大多依靠支撑位和阻力位来做出决策。（支撑位和阻力位是帮助交易者充分理解市场并在市场中采取行动的概念。支撑是指由于对资产的需求上升而导致下降趋势中断的价格水平。阻力是指上升趋势逆转抛售的水平.)</li></blockquote></li> <li>News-based trading:Here, day traders take advantage of volatility surrounding news events.<blockquote><li>基于新闻的交易：在这里，日内交易者利用围绕新闻事件的波动性。</li></blockquote></li> <li>High-frequency trading ((HFT)):This method utilizes algorithms to exploit small or short-term market inefficiencies.<blockquote><li>高频交易((HFT))：这种方法利用算法来利用小的或短期的市场低效率。</li></blockquote></li> </ul> Swing Trading vs. Trend Trading vs. Buy and Hold<blockquote>波段交易与趋势交易。买入并持有</blockquote> While a day trader closes out his positions at the end of each trading day, a swing trader can hold her positions for days to even weeks before selling. In&nbsp;swing trading, since there is more time for an equity’s price to increase, there is also more opportunity to profit. With the right selling strategy, swing trading can be much less risky than day trading.<blockquote>日内交易者在每个交易日结束时平仓，而波段交易者可以在卖出前持有头寸几天甚至几周。在波段交易中，由于股票价格有更多时间上涨，因此也有更多获利机会。有了正确的卖出策略，波段交易的风险比日内交易小得多。</blockquote> By contrast, trend trading involves using a stock’s past price movements to make predictions on its future trajectory. Since trend traders operate on a longer timeline, they can also gauge broader economic trends and business cycles to determine when to buy and sell a stock. This strategy isn’t usually applied by day traders or swing traders.<blockquote>相比之下，趋势交易涉及利用股票过去的价格变动来预测其未来轨迹。由于趋势交易者的操作时间更长，他们还可以衡量更广泛的经济趋势和商业周期，以确定何时买卖股票。日内交易者或波段交易者通常不采用这种策略。</blockquote> Meanwhile, buy-and-hold is often hailed as one of the best strategies available to investors. Under this approach, investors buy an asset and hold it for a few years or even decades, if they wish to, no matter what bumps occur along the way. The aim of this highly passive investing style is to ride out short-term market instability and losses in order to maximize returns over the long term. This is the basis for most long-term investing programs like 401(k)s and IRAs.<blockquote>与此同时，买入并持有通常被誉为投资者可用的最佳策略之一。在这种方法下，投资者购买一项资产并持有几年甚至几十年，如果他们愿意的话，无论一路上会发生什么坎坷。这种高度被动的投资风格的目的是度过短期市场不稳定和损失，以实现长期回报最大化。这是401(k)和IRA等大多数长期投资计划的基础。</blockquote> Buying on Margin<blockquote>保证金买入</blockquote> Day traders often use borrowed money to make trades, a method called “buying on margin.” With a margin account, a trader can use the securities they already own as leverage to borrow up to 50% of the value of the security they’re going to buy. Buying on margin can help day traders increase their profits substantially — far more than what they could have made using their own money. But the practice doesn’t come without risks. Leverage magnifies one's losses when trades don't work out, resulting in costly&nbsp;margin calls.<blockquote>日内交易者经常使用借来的钱进行交易，这种方法称为“保证金买入”。通过保证金账户，交易者可以使用他们已经拥有的证券作为杠杆，借入他们将要购买的证券价值的最多50%。保证金买入可以帮助日内交易者大幅增加利润——远远超过他们用自己的钱赚的利润。但这种做法并非没有风险。当交易失败时，杠杆会放大一个人的损失，导致代价高昂的保证金评级。</blockquote> Day Trading Rules and Risks<blockquote>日内交易规则及风险</blockquote> While day trading is neither illegal nor unethical, it can be extremely risky. In fact, the Securities and Exchange Commission&nbsp;warns on its website&nbsp;that the practice can result in substantial financial losses in a very short time.<blockquote>虽然日内交易既不违法也不不道德，但风险极大。事实上，美国证券交易委员会在其网站上警告说，这种做法可能会在很短的时间内导致巨大的经济损失。</blockquote> While conventional investing involves the careful analysis of stocks to determine whether an investment is wise, day traders use state-of-the-art technology and technical analysis to spot intraday trends. The risks to investors can be so grave that the Financial Industry Regulatory Authority has rules in place to monitor this fast-moving practice.<blockquote>虽然传统投资涉及仔细分析股票以确定投资是否明智，但日内交易者使用最先进的技术和技术分析来发现日内趋势。投资者面临的风险可能非常严重，以至于金融业监管局制定了规则来监控这种快速发展的做法。</blockquote> Key Takeaway: Day trading is neither illegal nor unethical, but it can be extraordinarily risky. The SEC warns that it can result in substantial financial losses in a very short time. In addition to the SEC, FINRA also provides oversight of day traders and enforces certain rules and limitations. For instance, it specifies that a \"pattern day trader\" must maintain at minimum $25,000 in equity on any day that they day trade. (A non-pattern day trader is only required to maintain $2,000). Furthermore, the required minimum equity must be in the account before any day-trading begins. And if the account slips below $25,000, day trading is not permitted until it is restored.<blockquote>要点：日内交易既不违法也不不道德，但风险极大。美国证券交易委员会警告说，这可能会在很短的时间内导致巨大的财务损失。除了SEC之外，FINRA还对日内交易者进行监督并执行某些规则和限制。例如，它规定“模式日内交易者”必须在日内交易的任何一天保持至少25,000美元的股本。（非模式日内交易者只需维持2000美元）。此外，在任何日间交易开始之前，账户中必须有所需的最低股本。如果账户跌破25,000美元，则在恢复之前不允许日内交易。</blockquote> A day trader may trade up to four times the account's maintenance margin excess as of end of business of the previous day. If a day trader exceeds that limit, however, the brokerage firm will issue a day-trading margin call. The day trader will then have, at most, five business days to deposit funds to meet that call. The brokerage firm can also charge a commission for these transactions.<blockquote>截至前一天营业结束，日内交易者最多可以进行四倍于账户维持保证金超额的交易。然而，如果日内交易者超过该限额，经纪公司将发行日内交易保证金看涨期权。日内交易者最多有五个工作日的时间存入资金以满足看涨期权。经纪公司也可以对这些交易收取佣金。</blockquote> Does Cryptocurrency Trading Count as Day Trading?<blockquote>加密货币交易算日内交易吗？</blockquote> Another way to get involved in day trading is via cryptocurrencies. But since they aren’t regulated by the SEC or FINRA, at least at this point, investors won’t have to worry about day trading limits.<blockquote>参与日内交易的另一种方式是通过加密货币。但由于它们不受SEC或FINRA的监管，至少在这一点上，投资者不必担心日内交易限制。</blockquote> Day Trading Taxes<blockquote>日间交易税</blockquote> Day trading doesn’t qualify for favorable tax treatment. Successful day traders are expected to pay income taxes just like traditional investors in the stock market. In very rare cases, day traders can apply for special day trader tax treatment with the IRS. To qualify for that status, the IRS looks for the following criteria: 1) Profit seeking must derive from daily market movements in securities' prices, not from dividends or longer-term capital appreciation. 2) Market activity must be high. 3) The investor must be trading with both continuity and regularity.<blockquote>日内交易没有资格享受优惠税收待遇。成功的日内交易者应该像股票市场的传统投资者一样缴纳所得税。在极少数情况下，日内交易者可以向国税局申请特殊的日内交易者税收待遇。为了获得该地位，美国国税局寻求以下标准：1)利润追求必须来自证券价格的每日市场变动，而不是来自股息或长期资本增值。2）市场活跃度要高。3)投资者的交易必须具有连续性和规律性。</blockquote> But for those who aren’t eligible, the following rules apply:<blockquote>但对于那些不符合资格的人，适用以下规则：</blockquote> <ul> <li>Day traders are required to pay taxes on investment gains in the year they sell.<blockquote><ul><li>日内交易者需要在出售当年为投资收益纳税。</li></ul></blockquote></li> <li>Day traders may offset gains against losses, but the gains they offset cannot total more than their losses.<blockquote><li>日内交易者可以用收益抵消损失，但他们抵消的收益总额不能超过他们的损失。</li></blockquote></li> <li>If positions are held for a year or less, ordinary income taxes apply to any gains.<blockquote><li>如果头寸持有一年或更短时间，普通所得税适用于任何收益。</li></blockquote></li> </ul> Is Day Trading for Everyone?<blockquote>日内交易适合所有人吗？</blockquote> For a new investor just starting to get into the markets, day trading likely isn’t suitable. Most day traders bring with them substantial training and knowledge about the markets. And with just one bad trade, large amounts of money can be lost very quickly.<blockquote>对于刚开始进入市场的新投资者来说，日内交易可能不合适。大多数日内交易者都带来了大量的市场培训和知识。只要一次糟糕的交易，大量的钱就会很快损失。</blockquote> Tip: Day trading isn't usually advised for newer investors. Most day traders possess substantial training and knowledge about the markets. Unlike brokers who trade other people’s money, day traders are putting their own assets on the line. That’s precisely why regulatory bodies warn investors of the pitfalls associated with this type of trading.<blockquote>提示：通常不建议新投资者进行日内交易。大多数日内交易者都接受过大量的市场培训和知识。与交易他人资金的经纪人不同，日内交易者将自己的资产置于危险之中。这正是监管机构警告投资者此类交易存在陷阱的原因。</blockquote> Many professional money managers even shy away from the practice of day trading. They argue that the benefits don’t warrant the risks. But for all the perils, there seem to be some people who can make a great deal of money.<blockquote>许多专业基金经理甚至回避日内交易的做法。他们认为好处不值得冒险。但是尽管有这些危险，似乎还是有一些人能赚很多钱。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://seekingalpha.com/article/4453955-what-is-day-trading\">Seeking Alpha</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://seekingalpha.com/article/4453955-what-is-day-trading","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1150166367","content_text":"Thanks to the advent of online trading houses, it's far easier now to get in the game of day trading. Before the Internet, only people working for large financial institutions, brokerages, or physical trading houses, could take part in the stock market in such an active fashion. Today, markets and transactions are accessible to almost anyone.\nMoMo Productions/DigitalVision via Getty Images\nWhat Day Trading Is\nAt base, day trading consists of frequently buying, selling and short-selling equities in a short period of time, usually reversing out of several positions within the same trading session. The aim is to earn a profit on each trade, sometimes even small profits, and watch those gains compound. The practice can be risky, but also highly lucrative.\nDay trading may sound enticing for those looking to make a swift profit, but it can be extremely challenging to make a formidable career out of the practice. In fact, a study published by the University of California, Davis, in 2010 revealed that only 1% of day traders consistently make a living from that practice.\nBut for the few who can succeed in the high-stakes world of day trading, it likely will consume most to all of their time. It is very much a full-time job.\nHow Day Trading Works\nAt its core, day trading is all about stock market volatility; day traders look for stocks that are on the move. Whether it’s positive or negative news which alters a stock’s trajectory, economic reports, corporate earnings, or simply a change in market mood, day traders cash in on rapid change. They enter and exit positions very quickly. Day traders must monitor positions closely, and often make quick, high-stakes decisions. There's no going to the pub for an afternoon drink hoping the positions they've taken will turn out.\nSomething to note, opportunities are not limited to betting that an investment security will rise in price; traders can also profit by betting on downward price movements. Liquidity is also very important to day traders, even more so than other investors. Since day traders need to be able to move in and out of positions with ease, they need to look out for equities which are highly liquid.\n\nKey Takeaway: Day trading is very much about stock market volatility; day traders look for stocks making moves over short time spans.\n\nMost day trading strategies offer a lot of flexibility, allowing day traders to keep their positions open from a few minutes to a few hours. The amount of time that the position is open depends on how the trade is doing and whether the day trader can seize a profit at that time.\nDay traders can consider a variety of markets such as futures, equities, currencies, and options. And they can have access to all the exchanges via a direct access broker. It’s one of the fastest and most affordable ways to engage in day trading.\nMethods of the Day Trader\nThere are various types of day trading, each suited for different styles. They can range from short-term trading, where stocks are held for a few seconds or minutes, to more long-term positions where stocks are held throughout the trading day.\nDay trader strategies include:\n\nScalping:This method seeks to make many small profits on small price changes throughout the day.\nRange trading:This method mostly relies on support and resistance levels to make decisions. (Support and resistance levels are concepts which assist traders to fully comprehend and act in the markets. Support refers to a price level where a downtrend is interrupted due to rising demand for an asset. Resistance refers to a level where an uptrend reverses a sell-off.)\nNews-based trading:Here, day traders take advantage of volatility surrounding news events.\nHigh-frequency trading ((HFT)):This method utilizes algorithms to exploit small or short-term market inefficiencies.\n\nSwing Trading vs. Trend Trading vs. Buy and Hold\nWhile a day trader closes out his positions at the end of each trading day, a swing trader can hold her positions for days to even weeks before selling. In swing trading, since there is more time for an equity’s price to increase, there is also more opportunity to profit. With the right selling strategy, swing trading can be much less risky than day trading.\nBy contrast, trend trading involves using a stock’s past price movements to make predictions on its future trajectory. Since trend traders operate on a longer timeline, they can also gauge broader economic trends and business cycles to determine when to buy and sell a stock. This strategy isn’t usually applied by day traders or swing traders.\nMeanwhile, buy-and-hold is often hailed as one of the best strategies available to investors. Under this approach, investors buy an asset and hold it for a few years or even decades, if they wish to, no matter what bumps occur along the way. The aim of this highly passive investing style is to ride out short-term market instability and losses in order to maximize returns over the long term. This is the basis for most long-term investing programs like 401(k)s and IRAs.\nBuying on Margin\nDay traders often use borrowed money to make trades, a method called “buying on margin.” With a margin account, a trader can use the securities they already own as leverage to borrow up to 50% of the value of the security they’re going to buy. Buying on margin can help day traders increase their profits substantially — far more than what they could have made using their own money. But the practice doesn’t come without risks. Leverage magnifies one's losses when trades don't work out, resulting in costly margin calls.\nDay Trading Rules and Risks\nWhile day trading is neither illegal nor unethical, it can be extremely risky. In fact, the Securities and Exchange Commission warns on its website that the practice can result in substantial financial losses in a very short time.\nWhile conventional investing involves the careful analysis of stocks to determine whether an investment is wise, day traders use state-of-the-art technology and technical analysis to spot intraday trends. The risks to investors can be so grave that the Financial Industry Regulatory Authority has rules in place to monitor this fast-moving practice.\n\nKey Takeaway: Day trading is neither illegal nor unethical, but it can be extraordinarily risky. The SEC warns that it can result in substantial financial losses in a very short time.\n\nIn addition to the SEC, FINRA also provides oversight of day traders and enforces certain rules and limitations. For instance, it specifies that a \"pattern day trader\" must maintain at minimum $25,000 in equity on any day that they day trade. (A non-pattern day trader is only required to maintain $2,000). Furthermore, the required minimum equity must be in the account before any day-trading begins. And if the account slips below $25,000, day trading is not permitted until it is restored.\nA day trader may trade up to four times the account's maintenance margin excess as of end of business of the previous day. If a day trader exceeds that limit, however, the brokerage firm will issue a day-trading margin call. The day trader will then have, at most, five business days to deposit funds to meet that call. The brokerage firm can also charge a commission for these transactions.\nDoes Cryptocurrency Trading Count as Day Trading?\nAnother way to get involved in day trading is via cryptocurrencies. But since they aren’t regulated by the SEC or FINRA, at least at this point, investors won’t have to worry about day trading limits.\nDay Trading Taxes\nDay trading doesn’t qualify for favorable tax treatment. Successful day traders are expected to pay income taxes just like traditional investors in the stock market. In very rare cases, day traders can apply for special day trader tax treatment with the IRS. To qualify for that status, the IRS looks for the following criteria: 1) Profit seeking must derive from daily market movements in securities' prices, not from dividends or longer-term capital appreciation. 2) Market activity must be high. 3) The investor must be trading with both continuity and regularity.\nBut for those who aren’t eligible, the following rules apply:\n\nDay traders are required to pay taxes on investment gains in the year they sell.\nDay traders may offset gains against losses, but the gains they offset cannot total more than their losses.\nIf positions are held for a year or less, ordinary income taxes apply to any gains.\n\nIs Day Trading for Everyone?\nFor a new investor just starting to get into the markets, day trading likely isn’t suitable. Most day traders bring with them substantial training and knowledge about the markets. And with just one bad trade, large amounts of money can be lost very quickly.\n\nTip: Day trading isn't usually advised for newer investors. Most day traders possess substantial training and knowledge about the markets.\n\nUnlike brokers who trade other people’s money, day traders are putting their own assets on the line. That’s precisely why regulatory bodies warn investors of the pitfalls associated with this type of trading.\nMany professional money managers even shy away from the practice of day trading. They argue that the benefits don’t warrant the risks. But for all the perils, there seem to be some people who can make a great deal of money.","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":775,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":14,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/883374182"}