A View On Day Trading
Hi. Thanks for reading Buy When Red.
I got wrapped up in day trading this past week. Not really participating mind you (well, I made a couple of low-key attempts that didn’t work out), but watching people participate.
Kinda, you know, how you or your kid will watch YouTubers play video games? Yeah, I was watching TraderTV Live.
It’s entertaining, even if I only kinda know what the hell is even going on.
I like having something live happening in the background, makes the day a little more interesting.
I found myself looking up a lot of day trader jargon all week so to help me know what is happening.
They make it super tempting to start day trading as it seems hella fun. BUT the number one stat I have always heard about day traders is only ONE PERCENT are actually successful in the long run.
One. One percent.
That seems like a bullshit stat to me. How could there (seemingly) be SO MANY day traders and 99% of them don’t make money doing it?
Not that I am saying to try it, what the hell do I know. It just seems like the most ridiculous stat out there.
Speaking Of Day Trading
I learned a tiny bit about Price Action and waiting for a chart to be validated before buying and other things this week:
I dunno if I will try it in a serious way. I did download TradingView just get a step closer to it (day trading).
Still, I cannot get past that 99% of day traders don’t make money, stat though.
There is no way I could ever think I could be the top 1% of anything, let alone day trading. So I don’t know what I am even doing thinking about it then.
Hey, now. Good luck to you on your trades (or wise decisions NOT to trade) this week. Thank you for the read and I’ll see ya later.
-Mikey