Why Day Trading is Not For You

[selena1]

So why punish your-self with the day to day stress of day trading?

Some reason why end of day trading is better than day trading:

1) If you day trade that's all you can do. So you will have to give up your day job, your regular income, and then try to make money every week/month from all those tiny intra day swings. When you start day trading to pay the bills the stress goes from a 6/10 to 9/10. Do not do it.

2) Day trading means you are limited by the clock. You might be in a great trade but have to exit simply because it's the end of the day. Talk about leaving profits on the table.

3) You have to be there every minute of every day to make money. With position trading I can take time away from the screen. I can even take days away when I know a set up will not occur for a few days minimum. And when I am in a trade I simply trail my stops automatically and let that exit me from the trade. Very passive. Day traders have to "clock in every day for 5 to 8 hours screen time. Is that the life you want?

4) The biggest money is made from moves that last a few weeks. Granted they do not happen often but you only need one such move every year to make big gains. Day traders are nibbling in and out with tiny profits they can never take advantage of such moves.

5) Day trading is not scalable. All the big funds are end of day trading because they know they can as high as they want in dollar value. Most day traders I know are trading less than $30,000 and are doing it simply to make a living. They do not and cannot sue compounding in their favour.

6) In order to try and make a decent profit from such small moves day traders use too high leverage and when you do this you are simply gambling. Most day trader I know are simply gambling. They can get lucky and go on winning streaks but they always seem to give it back.

7) The big money is made by working ON your business not "in it." You are much better off making 30% per annum with a hands free, passive method than 50% per annum but you have to "day trade" all day long. It leaves you free to build your business as opposed to working in it.

 

[HOLA]

It is important to note that both day trading and end of day trading have their own advantages and disadvantages, and it ultimately depends on an individual's trading style, preferences, and goals. However, it is true that day trading can be very stressful and requires a significant amount of screen time and focus, which may not be suitable for everyone.
End of day trading, on the other hand, allows traders to make trading decisions based on the closing price of a stock or other financial instrument. This approach can be more relaxed and less time-consuming, and it allows traders to focus on longer-term market trends rather than intraday fluctuations.
It is also true that some of the biggest moves in the market can take weeks or even months to play out, and end of day traders may be better positioned to take advantage of these trends. In addition, end of day trading can be more scalable and allows for greater diversification and risk management.

 

[marym]

Day trading can be very stressful and time-consuming as traders need to monitor the markets constantly throughout the day to identify trading opportunities. This can lead to burnout, fatigue, and even health problems in the long run. Additionally, day trading requires a significant amount of capital to make a living, and even then, there is no guarantee of success.
On the other hand, end of day trading can be less stressful as traders do not need to monitor the markets constantly. This allows traders to maintain their day jobs and still participate in the markets. End of day trading also allows traders to take advantage of larger trends that can last for several days or weeks, which can result in bigger profits.

 

[moonchild]

Well, let's be real day trading is not for everyone. It takes a certain type of person with a specific set of skills and temperament to succeed in this high-pressure, fast-paced world of forex trading, day trading requires a lot of time and attention from you. you need to be constantly monitoring the market and making split-second decisions. If you have a busy schedule or other commitments, it can be tough to give day trading the focus it requires so it is not for you if you fall to this category.

day trading requires a high amount of knowledge and expertise. you need to have a deep understanding of financial markets and how they work, technical analysis and candlestick pattern, and different trading strategies to be successful. If you're just starting out or don't have the background in these areas, it can be a steep learning curve, but it is doable because I'm doing it.