Question to every day trader

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Old Jul 19, 2017, 1:11am   #1
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Question to every day trader

I have a question to every day trader out there especially successful ones. Is this a passion of yours? And do you feel like that you should not do day trading if its not a passion of yours? I feel you can become successful doing things you hate but makes it way harder and alot more discipline is required.
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Old Jul 20, 2017, 8:42pm   #2
 
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It depends on who you are and how you approach things.
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Old Jul 21, 2017, 12:39pm   #3
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It was someday, I am comfortable with trading, but I can't say that it's something "Oh wow it's so thrilling"
Like every work, someday it becomes smth ordinary for you
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Old Jul 21, 2017, 2:32pm   #4
 
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yes, I never want to do anything else. Very much a passion.
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Old Jul 28, 2017, 8:24pm   #5
 
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Yes, absolutely, as with anything in live you have to have a passion for it to succeed...
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Count de Money number 1 trading rule: EDUCATE YOURSELF!

Before you trade even single penny on the stock market, please spend the time and educate yourself by back testing different trading strategies and ideas - go to eBay and search for "historical stock market data", you can buy 20 years of data for less than $100 - that's all you need to start.
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Old Jul 30, 2017, 5:35am   #6
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Sub-Zero started this thread Interesting thanks guys.
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Old Jul 30, 2017, 2:45pm   #7
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Not passion for me. I was p*ssed off they were taking my money. So I just wanted revenge.

But I am in the wrong thread. I am not a day trader. I trade minutes, hours, days, weeks, months, years, whatever it takes until they hand over their money.
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Old Jul 30, 2017, 7:02pm   #8
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With me, it is an interesting pastime for a retiree. I use low stakes, because I've lived too long to want to risk more, so am unlikely to make a fortune out of it.

I know how to do it, though. I think.
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Old Jul 30, 2017, 7:18pm   #9
 
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Quote:
Originally Posted by Sub-Zero View Post
I have a question to every day trader out there especially successful ones. Is this a passion of yours? And do you feel like that you should not do day trading if its not a passion of yours? I feel you can become successful doing things you hate but makes it way harder and alot more discipline is required.
Yes, passion isn't too strong a word for it. Nothing else will motivate you to put in the time and effort, not even money (if you ever make any). The reason I don't trade longer time frames is simply because I don't have the drive to do so. I think this is the point many longer term traders don't understand when they give (well meaning) advice to newbies. I don't understand why you would day trade if you hate it. It's the recipe failure and ruin. If trading isn't a passion, why put yourself through it. Find a normal job that's bearable or, dare I say it, you enjoy. Good Luck
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Old Jul 30, 2017, 7:24pm   #10
 
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It's said that the happiest people around are those who do as a job what they would otherwise do as a hobby.
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Thanks! The following members like this post: Lee Shepherd
Old Jul 30, 2017, 7:37pm   #11
 
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There's a wide expanse between passion and hatred. I find daytrading intriguing and even fascinating, but that is due largely to my background. But passion? No. I reserve that for more important things.

What novice daytraders lack is not passion but self-discipline and patience, not to mention a trading plan. If one doesn't want to "put himself through" the process of developing such a plan, then he has no business trading, day or otherwise, anymore than someone who wants to open a store or whatever has any business doing so without first developing a business plan.
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Old Aug 10, 2017, 12:05am   #12
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It's said that the happiest people around are those who do as a job what they would otherwise do as a hobby.
I do not know any fools who would pay me for what I like to do.
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Old Aug 10, 2017, 9:19am   #13
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I do not know any fools who would pay me for what I like to do.
Why? I know many people who do what they like, I'm among them as well. In fact, it's not so difficult
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Old Aug 10, 2017, 6:45pm   #14
 
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Originally Posted by alextrader79 View Post
Why? I know many people who do what they like, I'm among them as well. In fact, it's not so difficult
Same here, I love my full time job, that's why I am still working few hours a day...
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"If you don't find a way to make money while you sleep, you will work until you die." Warren Buffett, CEO of Berkshire Hathaway.

Count de Money number 1 trading rule: EDUCATE YOURSELF!

Before you trade even single penny on the stock market, please spend the time and educate yourself by back testing different trading strategies and ideas - go to eBay and search for "historical stock market data", you can buy 20 years of data for less than $100 - that's all you need to start.
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