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originally posted in:TFS The Floods Sanctuary
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4/19/2013 3:54:21 PM
7
7/10 day traders lose money
Multiple sources on these statistics, but I was wondering why is there such a big failure rate in day trading. I been doing a lot of research on it, but I don't see why it can be as risky as investing, because you can keep your positions even if they go down and wait it out, except for futures and such.
I still want to day trade, but I know going to a training program is just a scam so I figure I will learn by myself and from my work experience.
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Simply put, daytrading is hard to do. It sounds like a great theory in your head ""Ill just buy a bunch of this and it will go up a few cents and I will make 80$"" It rarely works like that. Most new day traders buy stock in a company for no reason other than that they know the company and/or use its products. "Waiting it out" isn't as easy as it seems like either. "Waiting it out" on a bad position means tying up money for potentially months or years. And whatever you do. DO NOT. touch penny stocks. Never. Ever. Never Ever. Don't even think about it. It will be a really short term investment. why? Because you will lose 100% of your money quickly. Penny stocks attract a lot of people. Simply because they enjoy buying large numbers of shares. Buying large numbers of shares doesn't add value to a shitty investment. also As a new daytrader do not even think about margin trading. Don't put any ammount of money into your brokerage account that you are not ok with losing. Because chances are you will lose all of it.
