What are the reasons you should start day trading?

[Sub-Zero]

So I am curious if you want to start day trading you should have very valid reasons I assume? Are these reasons good enough?

To generate a daily income.
To help pay off bills.
To quit your day job.

 

[Don't Follow Me....]

Perhaps Ego, the thrill and enjoyment play a part. These sound like terrible reasons but why do artists or sport people do what they do? Surely they must love what they do first and if they make money and can quit their jobs, great, but doing something just for the money maybe isn't the best motivation. Especially as most day-traders lose money.

 

[Sub-Zero]

Perhaps Ego, the thrill and enjoyment play a part. These sound like terrible reasons but why do artists or sport people do what they do? Surely they must love what they do first and if they make money and can quit their jobs, great, but doing something just for the money maybe isn't the best motivation. Especially as most day-traders lose money.

I see but isn't the whole point of day trading to make so it is the motivation? Sure you might enjoy it and that will make things a whole lot easier but isn't making money the primary concern?

 

[Don't Follow Me....]

I see but isn't the whole point of day trading to make so it is the motivation? Sure you might enjoy it and that will make things a whole lot easier but isn't making money the primary concern?

Making money is just a way of keeping score. If you have a plan and concentrate on following it, manage your bankroll well, you can make money. But you can also do everything right and still lose. In one sense you can't be concerned about the money, sometimes that concern prevents you making the right decisions. Be concerned about making the right decisions would be my advice. (Not that I was asked for advice and I don't pretend to be successful).

 

[Quantt]

So I am curious if you want to start day trading you should have very valid reasons I assume? Are these reasons good enough?

To generate a daily income.
To help pay off bills.
To quit your day job.

I would say freedom, coming from the financial independence, unless you give all the the profits to charity (I personally don't day trade - just can't spend my freedom starring at screens all day long)

 

[EnlightenedJoe]

To play casinos. It beats going to physical casinos. Some of them insist you dress up, which is a pain.

 

[piphoe]

big fat stacks

 

[Sub-Zero]

Making money is just a way of keeping score. If you have a plan and concentrate on following it, manage your bankroll well, you can make money. But you can also do everything right and still lose. In one sense you can't be concerned about the money, sometimes that concern prevents you making the right decisions. Be concerned about making the right decisions would be my advice. (Not that I was asked for advice and I don't pretend to be successful).

I see that makes sense.

 

[volante5767]

Stuck in a tough hard manual/dirty job...nearly 50...and want an easier income.