LOL.... and the smart investment is???? I'm sorry but this is the dumbest advice I've ever heard. Its like saying invest in things that will make you money, but don't invest in things that will cause you to lose money (ie. this advice is obvious and useless at the same time). Once you figure out what a smart investment is and how to identify it, you might as well have learned how to day trade and not have to worry about what is smart and dumb. In this environment, day traders are cleaning up nicely. The investing public is more than likely sitting on losses for the year.
Sorry, I think that you didn't understand me. I meant that day traiding is a little bit hard way of making money. The are millions of better jobs out there - that's all that I meant.
I do agree that its not easy, and this is backed up by the high failure rate, but I would almost argue that all those jobs out there aren't exactly all that safe going forward. You can choose to be miserable your whole life by taking what you think is the safer route, or take a chance on something that might pay handsomely. I do believe that going forward, the next 20 years will be vastly different than the last 20, and having a job is simply not going to be enough to enjoy life. The previous generation could raise a family on one income and live a "good" life, but these days, I think the American Dream is dead and if your'e gonna make it, working at a job for some company just isn't gonna cut it.
Ridiculous answer. Having a small account turn big via investments is extremely hard and the drawdowns will kill the account. Of course one can get lucky but do you really want to rely on luck? Day trading is harder with higher rewards.
Day trading is Definitely not for everybody -- it takes a certain cut of breed...to make it work out, which is relatively rare. To make a living from day trading...you can't trade plain simple boring stocks; you have to trade the riskier leveraged instruments that carry greater rewards/gains. "investments" can make you rich too eventually, if you have multiple lifetimes to wait for. I kind of equate successful day trading...as being a Formula One race car driver. the car performs extremely well around a track, but also wears out quickly.
Its really not that hard, i open up my ipad or phone look at charts, spot direction, tap the screen a few times, wait 5mins tap it some more, ohhh just made $200, if its hard then your doing it wrong. Then i switch off and dont have a care in the world. Day trading, can get you rich or poor quickly, but its the only option for most that arent already rich. Investing, can get you rich or poor slowly, put you at risk of black swan events, years of good trading wiped out in seconds. Same end result, investing just takes longer, time is more important to me than money so I quit investing and vowed never to go back to it. Just made $80 on my phone, while taping this in lol
Sounds good, but how do you get alerted to enter an order without having to monitor the chart constantly for a few hours for a good opportunity?
I just check when i get time, if i see something i try it, if not, check again later. Likely had 30 setups today so there is always another. Sadly very changeable, was down badly back to BE well close enough on the day