How is retail day trading anything but a gamble?

Discussion in 'Trading' started by kmiklas, Jun 4, 2020.

  1. Roddog101

    Roddog101

    Great post and so true...
     
    #201     Jun 29, 2020
  2. Roddog101

    Roddog101

    See a lot of sour grapes in this thread. IMHO it takes a lot of time, time most are not willing to invest. I think it takes more than 10000 hours of doing something to become good at it. But w trading you get taught tough lessons along the way & most likely will blow up a few times. I know I did. But somewhere along the way it just starts to click & you decide to treat it like a business instead of a hobby full of hopium & dreams. But even then you have to be constantly looking for edges & opportunities.. It the hardest job but the best job imho.
     
    #202     Jun 29, 2020
    goslow and Thor like this.
  3. Snuskpelle

    Snuskpelle

    Hilarious thread
     
    #203     Jun 29, 2020
  4. ironchef

    ironchef

    Yes, it is a great profession for us anti-socials.
     
    #204     Jun 30, 2020
  5. ironchef

    ironchef

    No offense sir, your 10000 hours quote reminded me of the quote on how many steps it takes to stay healthy?

    Answer: 10,000 steps.

    It turned out that number was plugged out of thin air with no scientific basis:

    https://www.health.harvard.edu/stay...d-to-take-10000-steps-a-day-for-better-health

    Do you have any scientific basis? I am eager to know. o_O
     
    #205     Jun 30, 2020
  6. Roddog101

    Roddog101

    None at all, just years of trial and error and watching many come and go...
     
    #206     Jun 30, 2020
    ironchef likes this.
  7. ironchef

    ironchef

    Appreciate an honest answer. Good luck to you.
     
    #207     Jun 30, 2020
  8. padutrader

    padutrader

    then find something else to do.

    if you think you can make money out of it do it.

    there are pro gamblers who think they can do it ..so they do it.
     
    #208     Jul 1, 2020
  9. birdman

    birdman

    I agree, I like trading my SEP IRA account. Of course when we turn 72 we have that annual "Required Minimum Distribution" to where IRS will then start getting their cut (70½ if you turned 70½ before Jan 1, 2020).
     
    #209     May 29, 2021
  10. How is day trading scalable? You need a 8 figure account to make 6 figures easy a day.

    Swing trading and investing is scalable day trading not so.
     
    #210     May 31, 2021
    trader99 likes this.