You've got the conclusions right... but for the wrong reason. People forget that trading is a zero sum gamee, meaning the only way to build up your account is to destroy someone else's dreams. In short, coveting your neighbor's cash/margin account. Remembering that this is sinful behavior ("Thou shall not covet thy neighbor's property), it's never too late or too early to quit and save your soul! The faster you run away from trading, the sooner something better comes along and replaces it!
Day traders pls quit while you can
- Thread starter Bear Trader
- Start date
You've got the conclusions right... but for the wrong reason. People forget that trading is a zero sum gamee, meaning the only way to build up your account is to destroy someone else's dreams. In short, coveting your neighbor's cash/margin account. Remembering that this is sinful behavior ("Thou shall not covet thy neighbor's property), it's never too late or too early to quit and save your soul! The faster you run away from trading, the sooner something better comes along and replaces it!
First, trading is NOT a zero sum game, there is equipment to purchase, Internet, software and commissions. It is actually expensive in terms of just starting up. Second, as you say "destroy someone else's dreams", they certainly have the same desires toward me, day trading is no different than trading stocks long term-if you were to buy IBM and I sold short and the Price rises-guess what, I am losing my money to you.
Whether it is trading or you working for hourly/salary is truly no different. If the company paid you less, would my widgets cost less for me to buy? And if you get a raise, the widgets cost more and taking more out of my accounts.
Just existing in this life costs money, and whether you agree or not, just going to a store is a form of trading money for goods.
As long as there is 2% price volitilty in any given stock there will always be day traders. After a person gets their letter from the SEC stating that they have been identified as a P.D.T. and a couple of sucessful trades. They will always return. The house might raise the capital requirements and change the rules on a whim but that is part of humanity. People of wealth don't like competition they are a the top and will do anything to prevent an open market. With out day traders and HFT the market would be dead and too predictable. The gains made by day traders pale in comparison to the money made by brokerage houses who are doing the exact same thing. The market likes to use fear and greed as its tools logic and reason are there to keep it going.
Welcome to Planet Misery,
Akuma
BUY GOLD!!!
99% of new traders blow their 1st 3 yrs of accts,simply because they don't know what they are doing,swing trading,day trading are both rigged with plenty of traps to catch any trader,experience helps you avoid those..if you know how to trade ,it can be profitable,but it will never be like finding money on the sidewalk,no different than any other job,the proof is in the daily volume ,year in,year out,lot's of folks are making it,if you are not, then you're just not their yet,someone posted this on another thread here on et,if you had to work at a job for 4 yrs making nothing ,but the pay off was you would be making 1 million a year down the road, would you do it..along with learning how to trade ,you need to learn how to push negative thoughts out of your head,because the training fo this job is a big shit sandwich for the 1st few years,if you let that get to you,you lose,you just lose