If you mention day trading for a living to someone who has never traded before, you can be rest assured that they’ll immediately ask you why there aren’t more people doing it if there’s really so much money to be made.
For the most part, this question is asked simply because it’s a convenient and easy way out of having to make a decision as to whether or not you should start day trading for a living. If on the other hand you do indeed want to find a proper answer, then you need to know that there is a massive flaw present when it comes to day trading for a living. Believe it or not, but that huge flaw is none other than the misuse of the word “invest”.
Before you even begin thinking about trading you need to get something straight, and that is that trading is definitely not the same as investing. In fact, it’s not even a form of investing, in that trading and investing are worlds apart.
Yes there are high risk investment opportunities out there, but you need to bear in mind that whether it’s a high risk investment or whether it’s a conservative investment, the basic principle still involves holding onto your investment for a certain period of time.
Unlike investing, day trading for a living doesn’t involve trying to hold onto your cash. In fact, if you’re day trading for a living you need to be buying and selling on the same day, and no matter what anyone has told you, it’s not an easy process. Of course there is plenty of money to be made with day trading, but there’s also a chance that you could end up losing a great deal of money.
Okay, so why don’t more people become involved with day trading for a living? The simple answer is that not everyone is cut out for it. Remember, everyone is different, and while some people may be highly successful when it comes to day trading for a living, others simply fail to grasp the concept altogether.
You need to take into consideration just how much effort is required in order to be successful with day trading for a living. Also, you need to bear in mind that day trading can in some cases involve large amounts of money, and for this reason, some people are better off not getting involved.
If you feel you have a knack for the markets and you’re confident enough to begin trading, then of course it is possible for you to make a huge amount of money. You can be rest assured that there are some people who have begun day trading with virtually no money at all, only to end up making millions of dollars. Admittedly, this is certain not the case for everybody, but at least you can look to these people for inspiration if you’re currently sitting on the fence with regards to becoming involved with day trading.
The great thing about day trading for a living is that you don’t require much money to start. In fact, if you’ve never traded before then you should definitely start out with a minimal amount of money so that you can first gain some experience, without having to risk too much.
No, day trading for a living is certainly not a good choice for everyone. If you feel that you’re simply not cut out for it then you’d be better off avoiding it altogether. If on the other hand you find the idea of day trading appealing, then of course you should at least give it a try, because after all, the truth is that you could very well end up making a huge amount of money.
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