So you want to be a day trader? Want to travel the world and spend money like no other? The truth is that most day traders do not live life like that. Day trading is a career it takes time and skill for one to understand the game to its full. If you have dreams of putting $25,000 in an account and hoping to turn that into $1.1 million, message me I will be glad to take the money from you now. The fact is that 90% of day traders lose their money and walk away from the dream. So what is the true life of a day trader? Day trading is a lonely, stressful, and mind game.
Day Trading is lonely.
When you are a success full day trader that means you are able to make an income from trading the markets. That does not mean you make $1.1 million a year. This just means you are able to read the markets take a few plays and make money to cover your living expenses. I am a full-time day trader for the past 3 years now and I am grateful enough to make be able to take 3 or more vacations a year. Do I make 1.1 million a year? No. But I make more than any 9 -5 job. Some weeks are great with a big juicy check and some are "ok". For someone starting off in the day trading career be happy if you breakeven your first year. Therefore going out with friends and traveling the world is not something you should be looking at. Look at how to live for the least amount of money possible. You will find out how much the value of money really means.
Day Trading is Stressful.
There is no easy way to put this. You will learn to love losing money. No will have a 100% winning streak. You will lose money and learning from your mistakes will make you a better trader. Understanding what you did that caused you to lose money. If even you have a good week trading you will be are putting more money on the line to win more. This is not a job where you punch in and punch out and get paid for the work you have done. This is putting your hard-worked money on the line. The stress level is always high.
Day trading will test you every day.
While you may see traders on Instagram with fancy cars enjoying life. The truth behind that is a long struggle of mind messing. Every day you will be tested by charts. You may think that your trade is working out in your favor and then all of sudden you are worried and looking to exit the trade for a loss. The news affects the markets so much that if you don't see it coming it can take out your position for a bigger loss.
Trading is fun when you make a lot of money but most times you won't. You will love to lose money and take the small gains. You will watch your spending every close and you will get challenged every day by the markets.
Check out the free discord chat room: https://www.stockbuddies.net/2019/10/07/free-discord-for-trading-community-educational/
Read more about how to start Day Trading: https://www.stockbuddies.net/2019/08/17/how-to-start-investing/