Why I personally think day trading as a full-time job isn't that great
It is the same in any field, though the top 1% are an exception.
I started my journey in stocks through day trading, did it for 10 years, and then switched to long-term investing.
Day trading alone just ended with mediocre profits. Honestly, the time wasted was more precious than the money.
Since then, even when I see a good entry point, I don't take it. I'm afraid of falling back into old habits.
Over those 10 years, I took several paid courses, read books, and did plenty of trade reviews.
To get to the point:
1. Just like any other style, your understanding of the stock market is the most important factor.
Whether you have a job or how many monitors you have—none of that matters.
2. This becomes especially apparent during a bull market.
I am working my tail off constantly buying and selling... but then I see people who look like beginners
just buying and holding, making much more money than me, and it gives me a reality check.
Day trading doesn't guarantee profits just because it's a bull market.
3. Also, your greed tends to run wild.
Long-term investing is a system where you earn through compounding and dividends,
but day trading is a system where you only earn by actively trading.
So, without even realizing it, you keep wanting to trade more and more.
Eventually, you take excessive positions, incur losses, and your mental state collapses.
4. There are too many people in this industry who only post "proof of profit" when things are going well,
but then they go completely silent once they start losing money.
In day trading, you are only considered to have reached a professional level once you have consistently achieved "meaningful profits" for at least 5 years.
I've seen people brag about winning 1st or 2nd place in day trading competitions,
only to end up wanting to die later, and I've seen many news reports about people scamming others while selling lectures.
5. The conclusion is: just stay unemployed and don't do it.
Going back to the first point, since understanding the market is absolute... whether you have a job or not isn't the key issue.
If your understanding is solid, you can make money even while working a regular job using limit orders.
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