why do people laugh when I mention day trading?
- Thread starter chipmunk
- Start date
If he doesn't make capital presevation a top priority, it will be very difficult.
very well said
there are so many software firms happy to sell you the next latest and greatest Emini trading platform, telling you that stock trading just doesn't return the same as futures, and charge over $16,000 just to be a member of their over crowded chat rooms, just to have someone tell you whether or not its safe to short, long, cover or add to a position or not....
imagine that, in addition to all the machine, computer, network, office and transpo costs incurred just to support a trading desk of one...
and then be expected to day in and day out snatch over $1,000 weekly in profits,
it is being done, and can be done, just not by everyone, and certainly not by the sheer numbers of those rushing into the over crowded field.
oh, auto traders, well, autos crash too....
That's not why they laugh.
It would be a legitimate reason to laugh at someone who was planning to start TRYING to daytrade for a living, but not someone who is actually doing it successfully. Besides, the general public is too stupid to know anything about the odds or even what daytrading really is. They just laugh because the man tells them to laugh at anything that isn't a regular day-job. Kind of like Pavlov's dog when you ring the bell.
Daytraders were disliked a lot more in the 90's when they were making lots of money... the furor died down when so many stories came out about how they lost it all back in the early 2000's. Then, due to some funny advertisements maybe, they became sort of a joke to a lot of people... I'd say if you are making a lot of money keeping a low profile is in order really... I tell people I'm managing my retirement accounts....
One funny thing, buy and holders are the prime targets for ponzi schemes.. so if one tells you that daytrading is not good you can get a laugh... about 20 Billion a year goes up in smoke in ponzis...
One funny thing, buy and holders are the prime targets for ponzi schemes.. so if one tells you that daytrading is not good you can get a laugh... about 20 Billion a year goes up in smoke in ponzis...
Because people are (choose as many as apply) too stupid, impatient, don't have the balls or money to do this day in and day out.
They are like sheep losing 40% in their mutual funds last year.
They are like sheep losing 40% in their mutual funds last year.
who cares..
seeking approval from people you don't know is gonna make you happy in life?
the only people you should even seek approval of, are family first, then friends.
seeking approval from people you don't know is gonna make you happy in life?
the only people you should even seek approval of, are family first, then friends.