The following is adapted from "Beginners' Guide to Day Trading Online" by Toni Turner: The good news: Trading is a business with a lot of freedom. You can work when, and where you like. You can structure your days as you chose, working from home or on the beach. It requires little capital to start this business. You can move anywhere, without the hassle of rebuilding the "customer base". You are independent, and answer to no one but yourself. No nasty bosses, office politics or traffic jams. You can stay in bed for weeks, when you have a flu. You don't need to wear a tie that choke you or high heels that dislocate your back. You can trade in a worn T-shirt, wearing your duck slippers. You can choose your trading style, fast-paced or easygoing. Of course, there is the flip side too: This business crushed most, who enters its doors. Nearly 80% of those who try, blow their accounts in six months. While paper trading is a good practice, it does not accurately portray how real trades play out. There is no emotion in the former. Comparing trading and investing is like comparing apples with kangaroos. Traders concern themselves with income generation, while investors can afford to wait for years or even decades before cashing in. Many times, you'll have one second to make a decision that may affect your accounts by thousands of dollars. Fear, greed, ego, and hindsight are traders' worst enemies. Discipline, persistence, and detachment are important characters of successful traders.