Is day trading worth it?
- Thread starter Laissez Faire
- Start date
Whatever doesn't kill you . . .
Yep. Martial arts (let alone military) training also results in many scratches and bruises, but that's what makes a professional.
While I am very thankful to a couple ET members who helped me so much, I must say they are not among the top posters here, quite the opposite. Most of our trading communication happened in private circumstances.
I see.
Speaking of failure in trading and any other business, there's mostly same reason: lack of skill. But how to gain skill in trading? Either learn from someone who's "for real" and (most importantly) is truly motivated to teach you or start from the scratch by watching various market data until you see recurring patterns yourself. Can probably take years and possibly never happens at all for some people.
Exactly. And gaining skill in trading is much tougher than other fields since it's so nebulous to begin with.
And how many who are new to the world of trading actually gtts a mentor who's walked the way successfully and can show him the way?
That's very few.
But everyone who enters the world of trading will be approached by vendors or self-proclaimed gurus who wants to 'teach for free' in order to fulfill some kind of psyhological need or desire for validation and recognition.
Yeah. That's interesting.
I don't think very successful traders would spend all their free time posting on ET and selling ebooks for 30$. It doesn't compute.
As a psychologist, I suppose you could give us a psychological profile of these type of people.
IMO problem with trading/investing is it attracts many gambler/get rich quick mentality people. And the prey attracts the predator. Hence so many scammers, false gurus etc.
Nobody somehow advertises on the web how cool it is to become a neurosurgeon. Despite it's probably much more sure way to make good money. That's because nobody ever thinks it can be quick and easy. Not so with trading.
If everyone knew it takes as much and likely more work, probably combined with unique personality traits as every other complex scalable profession, there would be no such a wide playing field for scammers.
Nobody somehow advertises on the web how cool it is to become a neurosurgeon. Despite it's probably much more sure way to make good money. That's because nobody ever thinks it can be quick and easy. Not so with trading.
If everyone knew it takes as much and likely more work, probably combined with unique personality traits as every other complex scalable profession, there would be no such a wide playing field for scammers.
Nice touch there, using a sad story to gain sympathy to continue derailing the fact, that no one is killing it based on your teachings.
Since most wannabees are recreational, they are also low-hanging fruit. But it's up to them to take it seriously. If they want what looks like the easy way, they also have to accept the consequences.
Daring, how much do you earn per year from trading?
If it's mid five figures or more, why are you so angry at forum members who are giving away an education in technical analysis of price action?
If it's less than that, why not take advantage of the free education?