Advantages and Disadvantages of Being a Day Trader

Discussion in 'Trading' started by Lloyd W. Coutee, Nov 5, 2015.

  1. Piptaker

    Piptaker

    forex day trading ( after 10 years of learning and still learning) is currently my only income, with a mortgage and young kids but I could easily go back to engineering project work if things turned to shit.. did Take a lot more than I thought and I can see why now many struggle , my particular style of trading relies heavily on understanding the order flow and I often take day trades based off the daily or longer term time frames..
    Gain the knowledge and test your setups or what you've learned through historical and live charts , implement by opening lives trade and the quality of your decisions or what you've learned and tested will reflect in your results.
     
    Last edited: Nov 6, 2015
    #21     Nov 6, 2015
  2. Piptaker

    Piptaker

    yes you are a trader Handle, great stuff .. I agree stay away from chat rooms and other influences and master your process
     
    #22     Nov 6, 2015
  3. Piptaker

    Piptaker

    I know a couple of pro traders as well as trade myself, they trade for their income and have helped me at no cost
     
    #23     Nov 6, 2015
  4. You listed "more excitement and emotional rush" as an advantage?

    You're not a day trader, are you?
     
    #24     Nov 7, 2015
    Dinosaur_Supervisor likes this.
  5. Advantage: leverage.
    Disadvantage: leverage.
     
    #25     Nov 7, 2015
    Barnacle Bill likes this.
  6. Victory5

    Victory5

    Trading can be extremely rewarding and beneficial to the trader

    Day Trading is primarily for the lazy, uneducated, and impatient. Sure there are some that are good, but the vast majority that try their hand at it will fail entirely.
     
    #26     Nov 8, 2015
  7. Advantage over my old J.O.B. - Being finished before lunch time
    Disadvantage over my old J.O.B. - Being able to dig myself into a financial hole.
     
    #27     Nov 8, 2015