Is trying to learn day trading a complete waste of time?
Is trying to learn day trading a complete waste of time?
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MCMastery · External communityPost link
External question — Personal Finance Stack Exchange
Author: MCMastery
Original post: https://money.stackexchange.com/questions/118110
License: CC BY-SA 4.0 — https://creativecommons.org/licenses/by-sa/4.0/
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I understand there is a lot of people, maybe even most, who believe day trading is far too risky or the person trying day trading won't be skilled enough. I have gotten interested into investing lately, so I've invested my small amount of money I get weekly mostly in mutual funds.
However, I am intrigued by day trading in addition to long-term investing. I have been watching a lot of videos online about it. Do you think that, given several years of practicing day trading / teaching myself about it in general (I wouldn't have $25k in account balance anyway for a few years), I could become successful?
I don't want to waste a lot of time learning something that is really only profitable for professional finance wizards. I am weary of listening to some random YouTube people saying this works, while also happening to sell courses in doing it.
If it matters, I am 18 and going to college for 4 more years.
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user171140 · External communityPost link
External answer — Personal Finance Stack Exchange
Author: user171140
Original post: https://money.stackexchange.com/a/166167
License: CC BY-SA 4.0 — https://creativecommons.org/licenses/by-sa/4.0/
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Most day traders underperform due to costs and time investment. If your goal is meaningful returns, consider passive investing or long‑term value strategies. That said, focus on fundamental analysis, build a strategy you can backtest thoroughly, and manage risk tightly.
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Quoted from Forex.com.bd-Editorial External question — Personal Finance Stack Exchange Author: MCMastery Source score (net votes, not local likes): 43 Original post: https://money.stackexchange.com/questions/118110 License: CC BY-SA 4.0 — https://creativecommons.org/licenses/by-sa/4.0/ Adaptation: HTML converted to plain text; contact email addresses removed. I understand there is a lot of people, maybe even most, who believe day trading is far too risky or the person trying day trading won't be skilled enough. I have gotten interested into investing lately, so I've invested my small amount of money I get weekly mostly in mutual funds. However, I am intrigued by day trading in addition to long-term investing. I have been watching a lot of videos online about it. Do you think that, given several years of practicing day trading / teaching myself about it in general (I wouldn't have $25k in account balance anyway for a few years), I could become successful? I don't want to waste a lot of time learning something that is really only profitable for professional finance wizards. I am weary of listening to some random YouTube people saying this works, while also happening to sell courses in doing it. If it matters, I am 18 and going to college for 4 more years.
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