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Sorry, please correct me if I'm wrong, but isn't this supposed to be elite-trader.com? I think I've signed up to poisonous little losers, whingers and no hopers dot com by mistake
Some may survive and even thrive by daytrading and good for them. But it's not actually socially useful and therfore bs.
Hmm, well you could say the same about being a corporate slave, working in an office with a bunch of bods you actually hate.
It's a rare to encounter someone that is successful that spends a lot of time telling other people why they will not be successful. Usually motivation-killing advice comes from people that have failed --- except for the honest people that realize that because they failed to succeed in an endeavor doesn't mean that everyone else is doomed to repeat their fate. On that note, in my experience with large traders their big money is usually quiet money. So STFU.
Hmmmm, wish I'd known it was stupidity 14+ years when I started. And I didn't start with 'wealth', a rich spouse or any other income stream. I started with a $90K account that at its worst shrunk to $60K. I did not have debt of any kind - mortgage paid off, no car payments, no credit card balances. And for the past 9 years I've made time to go tutor kids after school since I make enough from my 'hobby'. Trading isn't rocket science. There are many ways to make a decent living. One I'll toss out is 'learning' certain stocks, their trading range(s), etc. Once you learn that you can either scalp (assuming enough volume/liquidity) or play within the typical daily trading range taking profits throughout the day. And you need to play both ways - long and short.
It is the WILL, the strength of discipline and character in a man or woman which makes them mediocre or successful, "a loser" or "a winner." -- R.D. Wyckoff, The Day Traders' Bible Look, no one is denying that trading is a tough business that requires a lot of work & effort, anyone who sees it as easy money is destined for a let down. But you tell me a business, a way to make a substantial living that doesn't require work, pain, risk and effort. If you can mate, then sign me up.