Day trading can be an excellent way to make very good money. But, it is not an easy job, as some may imply. You’ll need to put in a lot of work to be successful.

Trading commodities and stocks is a day job, and a challenging one at that. Though it can be lucrative, certain habits must be learned for success, and the trader with particular traits is more likely to be successful.

The first habit that must be cultivated a good sense of time. Day trading is not the sort of job for someone who is always late, or can’t get out of bed before 11 AM. The best time for determining how you’ll strategize to play the market on a given day is right before the opening bell. The opening bell rings at 5 AM in Hawaii and Alaska, at 6 AM in California, and at 9 AM in New York. Getting up early isn’t the only requirement; you’ll need to be alert and ready with a good internal clock.

A second necessary habit is the ability to make good decisions with quick quantitative analysis skills. While hunches can make and lose money in day trading, you’ll need to read, synthesize, and understand numbers without having to ponder them at length. You’ll need to be able to determine financial trends at a glance, and act quickly with that information.

If you’re thinking that you’ll need to be a mathematician to get in the game, don’t worry. Even if you weren’t ever that great at math, you can learn certain quantitative skills that will quickly become second nature with just a little practice.

A third important habit for day traders is observational skills combined with good short-term memory. You’ll also need patience. Keep your cool even when you miss catching a stock at its highest point, or when you lose money because an anticipated low never arrived. Likewise, you must stay calm when you make a big winning trade as well.

The fourth habit you’ll need to cultivate is research skills. Day trading, thankfully, does not require the same kind of in-depth numerical analysis as long-term investments, but you’ll need a handle on the flow of information so that you can use this knowledge base when making quick judgments. Doing your research ahead of time is the only way to make good judgments quickly. But, don’t get bogged down so much by research that you lose the ability to think and act fast.

Remember that you don’t have to do all of this research and analysis alone. High level traders have many research tools and tricks, and various data analysis tools close by.

If you decide to pursue a career change in the field of day trading, you’ll need to start by building a support team, including a broker, and some investors who can help you apply leverage to the market. Recognize that you will need to work, and it’s a kind of work that requires focus, drive, and dedication.

If, after reading the skills listed above, you think you have what it takes to be a successful day trader, day trading may offer you a challenging and fun way to make a great living. It’s a job that can be a ton of fun, and can provide tremendous riches ? in more ways than one.