Quote:
Originally Posted by RandomHero
Day trading is gambling to me.
I find significant value in using research and analysis in order to make educated guesses on what the market will do over the long term. To me that is investing.
If you can do it, then more power to you, but the majority of day traders (somewhere in the 90% range) fail. About 80% of them fail in the first year so if you've made in longer than that, you're certainly the minority.
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Trading in general is gambling in some ways. You can lose just as much money swing trading or long term investing.
If you are able to use technical analysis on the daily chart, there is no difference with technical analysis on the 15 minute, 5 minute, 2 minute chart.
Full time trading in general has a low success rate. Whether it is swing trading or day trading. Most successful traders are the traders that buy and hold long term and don't rely on trading as a income. With that said, most full time traders know that day trading is where all the money is at.