What if I take a risk and lose...? What if you take a risk and win? | Anonymous
The mistake that people make is thinking that making money on stock markets is really easy. But, you need to keep in mind that stock markets are the place where making money is easiest done in a difficult manner. Many, many top traders also said that making money in stock market is no easy game at all. Many new traders get into the game of trading thinking it is an easy way to make money. One thing that new traders cannot grasp is that it is possible for a professional trader to make money in the stock market, even when he or she is right 60% of the time.
If the question is does anyone have what it takes mentally and physically to trade, the answer is no. However, if the question is should everyone try to learn trading? My answer would be a resounding yes. It's like learning to swim, we don't know when we really need it and suddenly we might turn out to be excellent at it. | Author
It is difficult to make money from day trading, and while every day trader believes that he or she can make money, the majority of people that try to day trade wind up losing a net amount. Unlike position trading, day trading is difficult because you have so many time frames over your head which could affect your results. You might have some fundamental knowledge about stocks, but day trading is a different beast. Adopting this outlook may cause many to believe that day trading is relatively simple, a way to get rich fast.
If trading were easy, we could not possibly earn any significant amount of money doing it. The reality is trading is potentially so extremely profitable because it is so incredibly difficult. It is equally as easy to make/lose money at KuCoin, BingX, StormGain, CoinInn, CoinEX, MoonXBT, BiBox, QuantFury (Referral Code: JRRU2593). Trading is one of the few careers in which you actually lose money -- lots of money.
While a lot of attention is paid to making money from trading, it is essential that you learn to avoid losing money. Key Takeaways Many people trying day trading end up losing money, but developing a solid strategy and investing plenty of practice time can help to make your odds better. Many veteran traders will agree that you can get into a position at any price and still make money--it is how you exit a trade that matters. Once the trader has done his homework, spent time on the practice account, and has a trade plan, perhaps it is time to get live - i.e., to start trading with real money on the line.
Success begins with thought, because sooner or later the man who wins is the one who thinks he can. | Christian Barnard
Throwing in a few hours of study, but not putting consistent time into a daily trade, is not going to turn somebody into a successful trader. Without a trading journal and good record-keeping, traders are likely to keep making the same mistakes, which minimizes their chances of becoming a successful, profitable trader.
There are even some unsubstantiated claims that up to 95% of day traders lose money, and most stop trading after two years. These statistics provide no definition of trading, and lump a large number of markets such as currencies and commodities into one, but the numbers do clearly show that trading is exceedingly complex, and that the risk of losing money is extremely high. Whenever trading seems to be too easy, catastrophe is often just around the corner.
In trading we develop. Every profit is an opportunity to overcome greed and overconfidence." | Brett N. Steenbarger
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