How to Start Day Trading Successfully With Zack Morris, Co-Founder of Atlas Trading

Zack Morris

While day trading is becoming increasingly popular, the majority of newcomers quickly learn the unfavorable statistic that approximately 95% of day traders lose money. While the majority of day traders in the game dispute this statistical claim, a recently published study by the Getulio Vargas Foundation and the University of São Paulo found that of all individuals who began day trading in the Brazilian equity futures market between 2013 and 2015, 97% of those who persisted for more than 300 days lost money.

Zack Morris, Co-Founder of Atlas Trading and a highly successful day trader, points out that it's a well-known fact that novice day traders are frequently unsuccessful; however, with experience, they can improve their odds.

"When trading stocks, all successful or experienced day traders employ certain strategies. They are not purchasing random stocks in arbitrarily large quantities. When I first began trading, I spent my nights conducting extensive research on the stock market and my mornings discussing current events with other traders."

Zack Morris further shared that while every beginning is tough, those who want to earn their financial freedom through trading need to set their minds straight and remember that failure is just another step toward success. With that in mind, he shared a few tips for getting started in the day trading world.

Staying Informed

"My journey into the stock market began with oil, and as expected, my first trade resulted in massive losses," Zack Morris explains. "However, I wasn't about to give up, so I began researching how and why certain stocks move and what causes them to break out or move up or down in such a manner."

He goes on to explain that a thorough understanding of the market is insufficient, as he quickly discovered that other global events could influence how the market moves. "Global news, market news, natural disasters, and changes in economic policy — all of these factors can have an effect on the market," Zack Morris explains. "In order to be successful in the day trading world, you must always be informed of major world events."

Proper Time Management

As Zack Morris points out, day trading becomes a full-time job for those seeking financial independence, not a part-time job or a side hustle. "If you trade for an hour or two a day, you should not expect to earn a lot of money. You must constantly monitor the markets and look for new trading opportunities," he says.

Trade With Brain, Not Heart

Humans are emotional beings, and as Zack Morris explains, more often than not, beginner traders make their trading decisions based on emotions, fueled by the hope to make a million dollars or the need for entertainment.

"Successful traders make their trading decisions based on sound research or tested trading methods that they developed through years of experience," he says. "So, if you are mindful about your trading decisions, the dream of making a million dollars in your underwear will come true."