By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData CollectiveSmartData CollectiveSmartData Collective
  • Analytics
    AnalyticsShow More
    data-driven white label SEO
    Does Data Mining Really Help with White Label SEO?
    7 Min Read
    marketing analytics for hardware vendors
    IT Hardware Startups Turn to Data Analytics for Market Research
    9 Min Read
    big data and digital signage
    The Power of Big Data and Analytics in Digital Signage
    5 Min Read
    data analytics investing
    Data Analytics Boosts ROI of Investment Trusts
    9 Min Read
    football data collection and analytics
    Unleashing Victory: How Data Collection Is Revolutionizing Football Performance Analysis!
    4 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-23 SmartData Collective. All Rights Reserved.
Reading: Advances In Big Data Are Fueling Day Trading Momentum
Share
Notification Show More
Aa
SmartData CollectiveSmartData Collective
Aa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Big Data > Advances In Big Data Are Fueling Day Trading Momentum
Big DataExclusive

Advances In Big Data Are Fueling Day Trading Momentum

Annie Qureshi
Last updated: 2020/04/13 at 5:49 PM
Annie Qureshi
7 Min Read
advances in big data
SHARE

Big data is becoming an integral part of the financial sector. A recent report shows that financial companies will spend $11.4 billion on analytics by 2023.

Contents
Understand the Nature of Big Data in Day TradingLearn about the market with data analyticsFind setups that suits your trading styleChoose the right brokerMake Data Analytics a Core Part of your Trading Strategy

Large financial brands are seemingly the biggest investors in big data. However, smaller investors and solopreneurs are likely to make big data a focus in the coming years as well.

Day traders, in particular, are placing more emphasis on big data technology. Kayla Matthews of Towards Data Science has talked about some of the ways that big data is changing financial trading. She points out that investors are using big data to identify correlations between financial assets and identify the direction of valuations.

Understand the Nature of Big Data in Day Trading

Before beginning any career, you must know the fundamentals and learn the details properly before you can become successful. Likewise, to develop a profitable career strategy as an investor, you must learn and understand the market in as much detail as possible. You should follow basic tips and take the right steps to start trading profitably in the market. Day trading is not an easy task you need to follow some important tips to make profits in the trade.

More Read

big data and IP laws

Big Data & AI In Collision Course With IP Laws – A Complete Guide

Data Security Unveiled: Protecting Your Information in a Connected World
Empowering Parents With Big Data: Ensuring Child Safety And Development
Security In Automated Document Processing: Ensuring Data Integrity And Confidentiality
Unleashing Victory: How Data Collection Is Revolutionizing Football Performance Analysis!

Unfortunately, merely understanding the fundamentals isn’t enough. You also need to utilize the latest technology, which includes big data. In this article, you will find some important points which will help you to start day trading profitably. You will also understand the importance of big data.

Learn about the market with data analytics

Many traders start day trading without learning and understanding the nuances of the financial markets and thus end up losing a lot of money. There is no excuse for this in 2020, because data analytics have made it much easier to learn the basics easily.

You should make it a priority to learn the basics and understand the process or you won’t be able to survive in the market. Naïve traders assume it’s quite easy to make money and thus don’t pay attention to the learning process and this leads them to failure. There is no quick way to make profit in this market so you must learn and understand the market precisely if you want to become a successful day trader.  Fortunately, using the right machine learning tools can make things easier.

You might be wondering why you are reading this article. This is because you are a professional. The professionals in Hong Kong always have the urge to learn new things about this market. They know it is the only factor that keeps them motivated to trade real market dynamics.

KPMG reports that big data is crucial to the success of modern Hong Kong financial companies. Nina Mehra, the author of the post, says that 46% of Hong Kong finance companies are going to invest more heavily in big data in the future. Day traders have found it to be especially useful, since it helps level the playing field.

Find setups that suits your trading style

Many traders place their trades without even outlining their trading style. Unfortunately, that is one of the common reasons that they report such steep losses. To make matters worse, they don’t use data analytics to guide their trading strategies.

You must define your strategy carefully and observe the market before placing a trade, so that you can identify whether it matches your trading style or not. You also can’t use the same trading style all the time, as the market keeps changing. This is another reason big data is so important. Machine learning technology enables traders to identify changing trends and adapt their strategy accordingly.

So, according to the market’s condition, you must change your trading style to make profits. At the beginning of day trading, you may find it difficult to change your trading style, but if you can understand the market properly then it will be easy for you.

If you day trading the stocks, you have to be very careful about the trading method. Day traders are very sensitive to their trading approach. They never take any position without thinking of the worst outcome. So, they create a trading strategy like the top traders at Saxo so that they won’t have to lose most of the time. Even if they lose, they have confidence in their trading method.

Choose the right broker

Choosing the right broker is the biggest trade the traders’ place for, without a broker, you can’t stay in the long run. Day traders should always focus on the low-fee brokers as high commission costs will be tough for them. The best way you can find the right broker is in a demo account, you can even take tests of the brokers in a demo account. By taking tests you will be able to find the real broker and also ask for assistance from your broker to find a good one. You must choose a broker according to your trading styles and also pay attention to the available offers.

Being a day trader, you should not compromise your trading environment. It can cost you a big loss. If you wish to pursue a career in day trading, find a fantastic broker like Saxo.

Make Data Analytics a Core Part of your Trading Strategy

To become successful as a day trader you must be consistent in the market and never stop learning and practicing. This isn’t possible without modern data analytics. Try to use big data tools to observe the time frame so that you can trade in a profitable hour. At the beginning of your day trading journey, never jump for the higher trades as that will lead you to lose. Try to trade for small trades in the market so that you can increase your chances of winning.

TAGGED: big data, big data advances, data anlaytics, day trading
Annie Qureshi April 13, 2020
Share This Article
Facebook Twitter Pinterest LinkedIn
Share
By Annie Qureshi
Follow:
Annie is a passionate writer and serial entrepreneur. She embraces ecommerce opportunities that go beyond profit, giving back to non-profits with a portion of the revenue she generates. She is significantly more productive when she has a cause that reaches beyond her pocketbook.

Follow us on Facebook

Latest News

big data and IP laws
Big Data & AI In Collision Course With IP Laws – A Complete Guide
Big Data
ai in marketing
4 Ways AI Can Enhance Your Marketing Strategies
Marketing
sobm for ai-driven cybersecurity
Software Bill of Materials is Crucial for AI-Driven Cybersecurity
Security
IT budgeting for data-driven companies
IT Budgeting Practices for Data-Driven Companies
IT

Stay Connected

1.2k Followers Like
33.7k Followers Follow
222 Followers Pin

You Might also Like

big data and IP laws
Big Data

Big Data & AI In Collision Course With IP Laws – A Complete Guide

5 Min Read
data security unveiled
Security

Data Security Unveiled: Protecting Your Information in a Connected World

8 Min Read
child online safety data
Big Data

Empowering Parents With Big Data: Ensuring Child Safety And Development

13 Min Read
data integrity
Data Management

Security In Automated Document Processing: Ensuring Data Integrity And Confidentiality

7 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

AI chatbots
AI Chatbots Can Help Retailers Convert Live Broadcast Viewers into Sales!
Chatbots
ai in ecommerce
Artificial Intelligence for eCommerce: A Closer Look
Artificial Intelligence

Quick Link

  • About
  • Contact
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
Go to mobile version
Welcome Back!

Sign in to your account

Lost your password?