Quote:
Originally Posted by RandomHero
Sure, it's gambling. However, there is a big difference between a slot machine and poker. You can have a hot streak at the slots and win some big money, but ultimately, the odds are heavily against you. You can lose with the best hand at poker, but over time, you will come out ahead.
And I'm not talking about any minute or even day change. I'm talking about general market cycles and fluctuations over several months,.
Again, if you can do it, then you're a better man than me, but only 1 in 10 people makes money day trading. Right now, it's extremely easy with the market doing so well and with as much short term volatility as we've realized.
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The odds are always against you in any trades or else there wouldn't be NYSE. Just like how the odds will always be against you in the casino or else they wouldn't be a multi-billion dollar industry. With that said, day trading, just like any other type of trading requires a strategy and a system. I don't just enter any trade without any technical analysis beforehand.
I started out as a longer term investor then slowly moved onto swing trading. Then I used my technical analysis skills to day trade.