I Discovered the Reason I Lose Money Trading.
- Thread starter GotherL
- Start date
This is true! Day trading is risky and diversifying your money is the best option because risk also gets diversified with it. In day trading, we end up paying more commissions. Whereas, in swing trading we have to pay less commission as compared to day trading and it’s sometimes difficult to make a decision in a short span of time. I think day trading is suitable only for those who are ready to bear losses and have good experience with it.
Daytrade = Get Rich Quick and POOR people ie ME!!!
Swing = Moderately Well off, has enough $$$'s to make it pay, but doesn't need it.
Investing = Rich already no hurry if it takes 10years to come back and make 50% it takes 10years, really doesn't need more money, but nice to have I guess.
Doubled my account last 6weeks area despite stupid trades and trading like a muppet at times, striving for less muppet and more Pro and getting there, so big money soon all being well.
Then I'll fade out to Swing then Investor, nah just bigger size and less time spent.
It's HARD, it plays with your mind, makes you make stupid decisions and you need to be able to think clearly and quickly with no indecision.
I think you and most of us got it backward:
Investing = Get rich slowly. Poor people do it while starting out, while young, have years to compound their returns. Investing doesn't work if you don't have time, like those at or near retirement.
Swing = same as you said.
Day trade = Rich already, don't need the money and can afford to play the long odds. Also those don't have time on their side to invest can only hope to get rich quick by day trading.
Unfortunately youth is wasted on the young, most don't have the patience to get rich slowly, to have the magic of compounding working for them. Been there done that myself.
I think you and most of us got it backward:
Investing = Get rich slowly. Poor people do it while starting out, while young, have years to compound their returns. Investing doesn't work if you don't have time, like those at or near retirement.
Swing = same as you said.
Day trade = Rich already, don't need the money and can afford to play the long odds. Also those don't have time on their side to invest can only hope to get rich quick by day trading.
Unfortunately youth is wasted on the young, most don't have the patience to get rich slowly, to have the magic of compounding working for them. Been there done that myself.
Well it's the aim, I guess most of the time it ends up being.
Day Trade, give your wages away monthly for ever ever.
Swing only give some of your wages away monthly.
Invest, watch your money come and go many times.
I still don't believe in saving, I'm a spend it incase I die the next day kinda guy, 12 forever!!
I also think that in trading you need to wash your hair in order to make a profit. I myself work with the brand head and shoulders, and this option suits me perfectly.