the more I think about it Day Trading is a losing game

C

chipmunk

OK maybe the top 1% make some money but it's HARD and the main point here is...Why would anyone want to day trade? Seriously....does anyone want to look back on their death bed and say great I wasted 17 years of my life staring at prices all day long. What a great life it was!

Most people need to seriously consider what they are actualy getting into before day trading. It's not a good way to make money I.M.H.O.

(hit me) :cool: :eek:
 
Quote from chipmunk:

OK maybe the top 1% make some money but it's HARD and the main point here is...Why would anyone want to day trade? Seriously....does anyone want to look back on their death bed and say great I wasted 17 years of my life staring at prices all day long. What a great life it was!

Most people need to seriously consider what they are actualy getting into before day trading. It's not a good way to make money I.M.H.O.

(hit me) :cool: :eek:
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You can say the same thing to most jobs.

day trading is just a job, u put up several hours and make some money. that is it
 
That's the same with basically all jobs though! lol.
Everyone wastes their lives spending a huge portion of their life (9-5, 5 days a week) going to a stupid job they hate.

The trick is to become a professional footballer or a famous actor or something. They're the only people who die happy!

At least if you ARE a super hot trader, you only need to work minimal hours and just trade huge size, and you can lead a happy life doing things you enjoy in your spare time.
 
OK I agree it is like most jobs...so you admit day trading is just a J.O.B.? What about building a business? Taking time ioff etc.? Maybe it's not the step you should take for peace of mind 10 years down the road?

No offence.
 
LOL how true. Life is so cruel if you think about it., Better to be lucky than good!
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The trick is to become a professional footballer or a famous actor or something. They're the only people who die happy!
 
Quote from chipmunk:



The trick is to become a professional footballer or a famous actor or something. They're the only people who die happy! [/B]
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Speak for yourself.
 
Quote from chipmunk:

OK maybe the top 1% make some money but it's HARD and the main point here is...Why would anyone want to day trade? Seriously....does anyone want to look back on their death bed and say great I wasted 17 years of my life staring at prices all day long. What a great life it was!

Most people need to seriously consider what they are actualy getting into before day trading. It's not a good way to make money I.M.H.O.

(hit me) :cool: :eek:
More...

There was a study a few years back that basically said most folks (regardless to job type) regret the career path they've choosen when they reach 40 years of age. Therefore, I can't imagine why traders would be any different.

Yeah...there are many jobs out there more secure than day trading just like day trading is more secure or less harmful than other jobs out there (e.g. use google to fine the top dangerous jobs in the world). Remember now, when talking about day trading I'm not only talking about most of us retail folks...I'm also talking about professionals that day trade. Thus, it seems like your commentary is more about retail day traders instead of professional day traders (those with licenses). Simply, if you're looking for more security, office environment, medical/dental benefits, paid vacation, bonuses (getting rewarded for good trading)...

Go get a salary professional trading job at some firm. However, that'll require you to be educated along with the proper licenses.

In contrast, retail day trading is for those that enjoy working alone or working alone is not a problem regardless if educated or not. However, if you're one of those that needs to feel like you're not staring at the charts all day as if you want more office like environment...you should strongly consider prop firm (avoid the bucket shops), arcade office or teaming up with some trading pals to get a small office space together. I myself did the arcade and then a few of us that became good friends at the arcade office got our own small place of business...did that for many years prior to going alone and setting up shop in my own home as a retail day trader.

Mark
 
Quote from Airwaves:



At least if you ARE a super hot trader, you only need to work minimal hours and just trade huge size, and you can lead a happy life doing things you enjoy in your spare time.
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Stop bragging about Lescor! :p

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I'd like to add that Trading ISN'T just some J.O.B . Even if you grind out just enough to pay your bills and be happy, with your life and occupation, then whats the issue? Unfortunatly many dont see it the way I do, and are only in this for the dollar.

If you trade for a living, take some pride in knowing that your a part of the small 1 to 5% club. (I'm not a part of that club, but I hope one day I can join the ranks) .

If you trade for a living, you're an entrepreneur, and NOT someone thats stuck in a job they hate.

kon

EDIT: Trading to MOST people is a losing game. Is it higher among day traders? Yes, i think so, but like any other business venture, it needs to be carefully thought out. A trading plan (business plan) is very important, and I admit I didnt have one when I first started. I lost 25 to 30% my first year!. Looking back I was lucky I didn't blow up my account. I didn't have a plan at first because honestly, I thought trading was going to be easy, and funny enough it kinda was, but things changed. I guess thats when I polluted my charts with 100 indicators, when at first I had nothing, and I was trading mostly off gut feeling.
 
Quote from konviction:

...If you trade for a living, you're an entrepreneur, and NOT someone thats stuck in a job they hate.

kon
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Kon,

That's the key, if most retail day traders viewed trading as a business as any other serious entrepreneur...I strongly believe more would succeed.

Mark
 
Quote from chipmunk:

OK maybe the top 1% make some money but it's HARD and the main point here is...Why would anyone want to day trade? Seriously....does anyone want to look back on their death bed and say great I wasted 17 years of my life staring at prices all day long. What a great life it was!
More...

Well, I have the perspective of someone who worked in the corporate world and also as a trader -- roughly 15 years in each profession. How many people say "I'm glad I spent 40 years at company XYZ"? For those who choose to pursue a totally different career you don't have all your time and energy invested in a single profession. Next, working for a company means certain rules, more rigidity in the hours you work, less control in how you spend each and every day. With trading you can set a profit target by the day (week) and if (when) you hit that target you can quit for the day (week) and go spend your time as you wish. It's a CHOICE -- not something many employed people have on a day to day basis.

Next, with the free time trading allows you can use it in many ways. One way which is very rewarding is to give back somehow in your community. I spend up to 3 afternoons per week tutoring poor kids in an after school setting at their school. The pay is $0 -- but the feeling of satisfaction is beyond what any dollar amount.

Do I have regrets leaving a secure corporate job with a paycheck deposited every 2 weeks to pursue trading? Absolutely not. Why would I? My time is my time -- every day.
 
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