Anything is dangerous until u know how to perform it.
And day trading one of the HARDEST job in the world which makes it the Dangerous Business.
As a professional day trader, I can assure you, that it is not like any other business.
People think this is just like another business. No man, this is a sport, a trader is a player. U r constantly competing with best performers in the same field. Either u r a winner or a loser there is no place for an average performer like any other profession.
There is no level playing field like senior/junior like other games also, so trading is the hardest. U directly compete with pro, so in the long run either u become a pro trader or u are bound to lose.
It is the hardest part to maintain risk here mostly bcoz, 1.margin of error is too less. 2. The high leverage in day trading assures that we can lose everything very quickly.
Do you have 6-9 years to learn to swim and still lose(can't swim lonely) in the long run? Not possible, if u r just swimming for yourself.
- But 6-10-20 years of practice can't guarantee that u are ready to compete with best swimmers.
- Simple, in trading, you are competing with best traders.
- Trading is not for everyone, but I can definitely say,
- But it is not impossible to make money in day trading in the long run.
- For the survival in the long run, you need to develop the trading skills and the trader's psychology both. Then comes the risk management, money management using position sizing technique.
- Pro traders never trade with fixed position sizes like robots. Position size depends on risk attach to that particular trade. Right position sizing is the survival key in the market in the long run.
- Another most important thing is few jackpots make the difference in the ledger in the long run. If u can't ride on your profit in trending market, then u r bound to lose.
- Finally..
- Yes, Day Trading is dangerous, Isme Kick Hai!