there is one little old lady who stands out in a corner in a very busy intersection down here... she is anywhere from 75-85 yrs old .i shit you not...i have personally given that woman over $100 - $300 and thats on ony a few occassions.. I have witnessed people going the oppossite direction stoping traffic just to hand her money...she is raking in the mula....poor lady...peace
It all depends if you like to watch the market all day and have natural intution for market movements. Some people have it and some people don't. I don't recommend daytrading for most people. Longer term trading is less stressful and have the potential for much bigger profits with less headaches. But it also requires more discipline than daytrading because of the potential for big losses.
Like any other venture, be that starting a small business or changing your job from one field to a completely new one, there is always risk. The risk/reward in daytrading is different from a job like dentist, and is more closer to, say, a deal maker. That means, your special skill set developed for the "trade" will be scalable and accumulative. The amount of money to be made is not directly proportional to the time you spent. Comparing that to a dentist, whose skill is not scalable, his risk/reward is directly proportional to the amount of time he spent working on clients. Thus, is daytrading worth a try for everyone? I would say yes. That is the same as telling people to start their own business. As long as the bottomline is watched, then the experience gained from learning to daytrade (or running a business of your own) is always well worth the time you spent.
Hold up a second. Let's get back off topic. If all day traders realized how easy it is to make money as a bum on a street corner, would most give up and get out on a corner? And if that happened, wouldn't that make being a bum a much riskier prospect? (More competition.....profits divided.) As it stands now, looks like dressing like a little ol' lady takes about 15 minutes. Learning to trade takes at least 3 to 5 years screen time for most. Next time I pull up to a traffic light and a bum approaches me, I'm gonna say: Hey, did you used to be a trader?
thats the thing...this shouldnt be stressful, at least thats how it should be..i know its easier said than done; but it should be like most exprienced traders on this board have mentioned; just another day at work....why is losing money stressful? ( i know the answer, so u need not reply ). I see it all the time when i play poker...people pissed that some idiot called a raise or all in with 52 offsuit and then cracks pocket rockets...shit id love for them to always call me with 52 offsuit..i dont care how many times they get cracked...the only thing we can do is place a bet when odds are in our favor ( obviously with your stops in place wether mental or actual stops )....what happens afterwords should not in anyway shape or form stress you out.... the reason people stress is becuase this is a tough gig if not properly funded..and i mean funded to pay ur bills...but the actual trading should not stress someone...unless he is leveraged to the gills...i am only going by what ive read on these boards over the years from the more exprienced traders...
a surgeon or lawyer can put in the time to complete the coursework and requirements and graduate. Then they can expect to attract a good salaray and job. In fact, over 90% of medical students at many universities complete the curriculum ONCE THEY HAVE GOTTEN THROUGH THE ONEROUS ENTRY REQUIREMENTS. Those who undertake day traders can go through all the screen time, and still are not that likely to succeed. They are apples and oranges.
that is a crock. Little money at charities "goes to owners." Legitimate charities have no "owners." Some $$$ is used to raise funds (like for Salv Army, they pay the bellringers about 20% or so). Most of the money at decent charities goes to the cause. There are easily available statistics about how much is used. It is more likely that you are a cheap bastard, hiding behind your own delusional fabrication of charities.
Your clarity needs a lot of work. I demand evidence of people who throw a lot of bullshit and garbage out there, in SPITE of the evidence. Most people trade, using fabrications like dimestore TA and EW, Fib, Gann, etc. They believe in it, in spite of many studies that show it has little value. And when presented with studies, they act like "alternative medicine" gurus, who tell the naive that the medical profession is unreliable and their potions will do them much better. It is called belief and opinion, in spite of the overwhelming evidence. Yesterday, I got an email broadcast a vendor laying out this astrology garbage, that since Uranus and Jupiter are doing certain things, that therefore it is obvious tech stocks will do A and financial stocks might do B. This person should be committed or horsewhipped.
My clarity needs no help, your posts give you away everytime. You are drawn to the mkts, like most everyone else is, by the potential for lots of $$$$$. However, its not something you really want to pursue, because you know (or can visualize) just how much work will go into it. So your approach is to stay involved but not really work towards what is necessary to achieve consistency and good profits. By remaining negative and skeptical, you allow yourself to rationalize not attempting to seriously trade. Which is fine. People who strive to achieve anything in life they find all consuming are not as negative as you, so this tells me you arent aligning yourself with what you truly want to do. Passionate and hungry people who make something their "lifes work" focus on developing competency then developing expertise and, all the while, are happy to do whatever it takes to succeed. You do not strike me as someone who has what it takes to make it in this business but thats not to say there isnt another pursuit out there that you could really excel at.