Your brother is probably meant to be an employee. That's fine. The world needs satisfied employees. However, there is no getting around the old adage that "if you are not the lead sled dog, the view never changes." For some that is a reality that they must deal with. Not a problem for those with the employee mentality.
I used to be addicted, you won't become profitable until you lose this trait, well for me. I find guesstrading to be very stressful, I think if it isn't then your doing it wrong, out trumps my adduction, 1 hour, 2 tops and I'm fried start taking stupid counter trend trades. This out does my adduction these days.
Most people are not WELL CAPITALIZED enough to trade and more importantly they don't have their psychology in place - this alone will take years to master - and if you don't have the discipline to follow the rules you have setup for yourself, you'll never make it. So go ahead and gather up $100,000K at least and start trading 2 ES contracts at a time. Or better yet, find something else to do - there are way more easier ways to make money.
You seem to be operating off the premise that day trading is difficult and that it is an addiction. Apparently you must have tried it and was unsuccessful at it?? However, the facts are it is generally much easier to anticipate the market 10 minutes out than 6 months out. A body just has to have the right tools to do so. Furthermore, making 40 trades per day doesn’t make it an addiction but an ATM machine that spits out the $$ providing a trader has a high win rate and the psychological skills developed to trade with detachment. In addition, money is only at risk when “in” the market. In daytrading risk is reduced because money is “in” the market for very short periods of time hence it’s exposure to risks decreases as opposed to investing.
Not sure about that but everything is generally a risk. Getting in your car and driving to the local DQ for an ice cream cone is in itself assuming a risk and eating the cone is too! P.S. uncontrolled trips to DQ can become an addiction..LOL
If I remember correctly in the first Market Wizards book, multiple traders expressed having to put together a new "bank roll" to continue trading.
In daytrading risk is reduced because money is “in” the market for very short periods of time hence it’s exposure to risks decreases as opposed to investing.[/QUOTE] Your exposure to profit also decreases trading if you do not hold overnight.
There seems to be some negative stigma to the words 'gambling' as well as 'addiction' when it comes to trading. I think I am guilty of both, but by traderGod, it pays the bills plus some. I'm also addicted to a coffee shop routine at 8am, 7 days a week along with the morning newspaper & business news.