90% of traders fail. http://www.davemanuel.com/2008/03/12/the-top-seven-reasons-why-90-of-daytraders-fail/ 90% of small businesses fail. http://www.whizbangtraining.com/why-90-of-small-businesses-fail Seems like the odds are about the same. If you fail to plan, you plan to fail. I've seen plenty of people lose $200k in a failed business. You need a good education to succeed in either (whether formal or self educated). Some traders get lucky as do some business owners and make money right away though. But you are no more likely to succeed in business than in trading.
Au contraire. Trading is only useful in the sense that it makes for a great source of backup income. Or, you do it to keep a highscore of how much money you can make over, say, a 20-30 yr time span. No more. You didn't do anything to deserve it or earn it, so you will have to give it all back though. Money is made in Wall Street and remains in Wall Street. But, just you try to enjoy the fruit of your trading success for once in your life and see what havoc the universe will bring to your droostep!
If you already know how to trade, then adapting to something that presents a lot of opportunities each day is a matter of studying and sim trading it until you've defined your prime setups and trade management rules. There aren't that many trend-following setups to master regardless of what you trade or what time frame you trade it in.
Actually, I tried day trading with some success a few months ago (always non-sim). If I spent something like 1,000 Cal/day looking for swing trading setups. I'm burning away 10,000 Cal/hr trading intraday setups. Not sure I can physically last a month at that rate. Day trading is so that much more stressful!
If this is your attitude, money will always be fleeting in your life. I wish you the best, but you have to know that you deserve money. If you don't magnetize your mind to attract it, how do you expect to bring it into your life? If you condemn money, you are surely to set your subconscious mind and other events into plan that will guarantee you will not keep the money. EDIT: 69 posts!!!! Maybe I stop here hahahaha
Dude, you have to looka t the big picture. Someone takes a gun and ends his life b/c he lost a bunch of money in stocks. YOU could have been one of the many the trader lost his money to. Don't you think that whatever goes around eventually comes around? To my knowledge, participatig in an action which leads another human being to commite suicide is far worse than Bill Gates accumulating his ill-gotten gains with Microsoft. At least the person on the other end got the buggy Windows 98 software to play around with.
After 17 pages..some of it worthwhile information directed to the OP...I have come to the conclusion that the OP's last response indicates we have been 'played'.... Time to take the jollies away from the Op and shut down the thread... NiN
Coulda woulda shoulda. I am not sure if you are serious or not, but for your own sake, I send you good thoughts so that you might get your mind right. All the best.