- Feb 14, 2002
By all means try. I would not be financially independent without the help of the market. I opened my account the day I turned 18 and been trading ever since.I guess 2 things - I hardly know people that invest regularly in real life (I can think of 3), and of those 3 - one retired years ago from day trading and he's only my age (mid 30's). He now only does a handful of trades per year to balance risk, fit his current plan and lives off the income his current sizes provide. The other 2 guys also day trade, but primarily swing trade overall.
Second thing would be is that I'm doing it for the learning, not for the money. I'll see whether I like it or not, but I know I want to do more investing so trying day trading has already taught me way more than I knew before. I also know there is way more that I don't know and I am prepared to give it years (at least right now I am ).
I'm not using any money I cannot lose 100% and view it as paying for an education. I'm fine with discovering my limits, my ultimate goal is to learn something I can make money from, even if it's an alternate form of investing. If I end up good at it, then great - if not, I'm still certain I will learn things that I'll benefit from for the rest of my life.
You know 3 people, none of them day trade. Day trading means opening positions and closing and going to all cash before the end of the day. It's really hard to constantly win doing this. Like literally impossible.
Yes.You really think day trading success rate is less than 1%?