Day Trading Is A Dead End Job

Discussion in 'Chit Chat' started by NY_HOOD, May 16, 2011.

  1. daytrading is GAMBLING and it is an addiction but it does'nt appear that way. it fools you into thinking: "this is wall street", i'm a trader who is disciplined and takes calculated risks in the market"..its gambling pure and simple.
    are you telling yourself:
    1) if i only stuck to my discipline,i would not have taken the loss.
    2) i am actually glad i lost alot of money,thats exactly the shot in the arm i needed in order to learn a lesson. how many shots in the arm and how many lessons do you need !!!
    3)every business owner loses money at the start,thats normal..really!!! business owners don't invest on margin.
    4) i need to just focus more,i am so close to perfecting my edge..pretty soon everything is going to click..it NEVER DOES !
    5) it takes years of experience to be a good trader, just like anything else..REALLY ! tell me an engineer,a a hair stylist, a salesman,a librarian, a doctor,or a teacher that loses money the first few years of their careers.
    6) this is the worst:: i am going to get a home equity and start from scratch with enough money in my account that i will have more of a cushion.
    GET A REGULAR JOB, START A BUSINESS. anything but day trading and please do not tweek your style and start claiming to be a long term trader. the road ends the same way.
     
  2. Crispy

    Crispy

    Good engineers and doctors spends a few hundred K in schools...thats a loss until recovered.

    Salesmen - really? In any field 1% of them make the bulk and 99% fight for the scraps.

    Teachers are backstopped by productive citizens who actually work - govt workers dont count. Librarians same way.

    I will give you hair stylist - People always need a haircut, however, how many times have you tried one and got a shitty haircut and never went back? Ive been using my gal for 10 years cause she actually uses scissors and not the insipid buzzer. She is a true artist. Im a white man with a black mans hair..I dont know how she does it.

    And 90% of all small business`still fail...due to lack of capital cushion(sounds familiar to me).

    And wtf are you doing here if you are anti trading? :D
     
  3. i'm not anti trading. i am anti gambling. if i can help just one guy out, i made a difference. perhaps i can help you out. pm me if you need advice.
     
  4. You are right to a point. Lots of delusion in this business, but a few will make it.

    Trading is best as a hobby, while you have a real job. If you prove that you have a gift for it, then go for it--- if not, keep your job. Very very very very few have the gift.

    It can be a very destructive addiction-- care to share your personal story?
     
  5. There are no real gifts in trading, other than the gift of humility, persistence and passion. If you have these for any endeavor, your chances of success go up greatly.

     
  6. Impossible, no. However, friend, its more like 1 out of 1000 who really try hard , smart and aren't super lazy. 1 out of 100 is FAR to generous.
     

  7. This post is the epitome of delusional thinking. Gamblers have passion and persistance and humility--- these things have nothng to do with success but every single person who ruined their life trading has those atributes. Trading is nothing like another business--- those with passion are most apt to fail cause they keep coming back for more despite the continued failure.

    Succesful trading is possible, it just has nothing to do with the traditional attributes of success in anything else. When I see these attributes listed as those needed for tradign success I cringe and know I am dealing with a vendor or a succesful lucky person in trading who has completely misunderfstood the reasons for their success, or someone who remains deluded.
     
  8. As someone who is a full time trader and knows what it took ME find consistent profitability, I think I understand what is needed for success in this business more so than someone who hasn't.
    I can't speak for everyone, but I do truly know that a person who is driven and focused has a much better chance to find a working method than someone who is lazy and looking for a quick buck or an easy score.

     
  9. jo0477

    jo0477

    I'm just curious, what attributes would you consider to be beneficial? It seems to me that it would be hard to succeed in any challenging endeavor without a passion for it.
     
  10. Crispy

    Crispy

    I agree. Gambling is destructive. You appear to be projecting your own faults. Tell us your story.

    The only advice I need is where to find yield for my excess funds. But thanks for the good will anyhow.
     
    #10     May 16, 2011