Day Trading is it worth ?

Day Trading is what every one wants to do is it actually worth to the Labour we have to put.My input regarding Day-Trading ( absolutely subjective):=

As one gets older (not by age only) the Perspective changes.After the initial
exposure the excitement calms down & the Hard facts ( diminishing bank a/c )
hits like a Mail train.In most cases the bank a/c increases in AP & diminishes
in GP ( atleast in my case),the AP part will keep our hopes swelling & the Gp
part will always seem that this is the LAST one.
We start searching / reading / looking for mentors & after few months we become
relatively knowledgable.
The 2nd plunge with reasonable knowledge base (r/r ratio / mm blah blah ) will
also give the same result like the 1st one but here we will atleast vaguely
fathom the reasons for failure.

Most will become surrogate traders than a real trader in the 2nd back breaking
outcome,but dumbs who was even taught in the Arithmetic classes at their school
days ;about the 'Slippery Bamboo & the Monkey' will still pursue relentlessly &
this time he will devote all his time & effort single focussedly as Prisnors
are banished in the Condemed Cell,(his crime was he lost money like water & is
now almost on borrowed money & time),the only Driving force which will keep him
alive is his stubborn foolish ego to prove to Self that he is yet not FINISHED.
As he is chained with his computer in his recluse for 20 hrs his only teacher
then will be the blinking Red/Blue Price of 5 & 1/2 hrs. & tremendously fearfull
of loosing money,his 1st & foremost objective is not to loose a single furthing,
maybe his earning is nill or few bucks everyday but no loss in any circumstance.
After few months his trade size will start increasing & he will stash away in 5
or 6 places the minimum start up capital & for that he may cut all his expense
drastically.

Slowly he will unlearn all those knowledge which he acquired before his 2nd
serious attempt now all those knowledge will fall in perspective.

After few Lacks the quantum of money will loose significance but 1 single loosing
trade even of few k will keep him worrying & keep him working day in day out ,even
a highly sharp knife will acquire rust if not used ,it is a monk type life ;only
devotion ,a well known proffessional always devote more No of Hrs & hard work.
So this is not so rosy ,hence it is better to try other type of trading than DAY TRADING.

Good Post Ashish

Jesse,

Did'nt expect to catch your comment instantly ,thanks.

Asish

Good one Ashish. I know a friend who has lost on daytrading, but still doesn't give hope. Everytime he transfers money from bank and its gone. Then he says, that a particular trade will be his last trade and that one never happens.
Well, people become stubborn and do not want to accept that it is not their cup of tea at all.
Well, I know a elder person, who has taken retirement early and used to come to karvy. He buys few stocks and never bothers about it for 3 months. At the end of three months, he sells them and buys others. He told me that he hasn't money by doing this. Anyway, he is operating on noise data (day trading)
Anjan

Ur this post has come in d right time as we r seeing more and more people opening new threads and asking members about daytrading-tricks type of things.Now in an inauguration of a thread on daytrading by newbies,we should give them the link of this post of urs.The bold lettered line resembles this writer's journey somewhere.
Regards
Hariom

Great Wisdom in this post,my friend......

Saint

hi friends,
day trading does'nt necessarily mean intraday trading. mostly operators doesnt allow u to get benifit out of intraday trading.better try intra-week or intra-month trading. but for that
u need to have least brokerage(delivery) charges. It is possible only through rmoney who r charging onlt stt n other govt charges , very slow not suitable for F&O trading

Another point to note in day trading. We should not be carried away by advertisements trumpeting that "MAKE MILLIONS IN A DAY". Actually there is every possibility of losing money in Day Trading.

To become a successful day trader, one's mindset is very important. I f u could set ur mind, surely day trading is success. But not easy to frame one's mindset.May take years. In fact our market moves or have momentum becuase of day traders. without day traders market would be very dull. I hope seniors will agree.

Hi
Day trading is not worth as u cannot predict market movements from day to
day.
I usually pick blue chip stocks during market fall & keep them for more than twelve months.