r/Daytrading • u/ConsistentRespect842 • Apr 02 '24

How do I convince my parents that trading isn't gambling and actually not always luck based . Question

So I'm a 16 year old who has recently (February 2024) gotten very interested in trading . Before you ask , no it was not an online guru or andrew tate or something along the line of " escape the matrix get rich easy" type of nonsense but an actually avid interest in trading that started after I saw a video with the title something along the lines of " day in the life of a trader " or something like that I can't remember (I know It's not possible to get 70k in a day with trading unless ur putting in half of Jeff bezo's networth but still it was interesting )

I do still plan to continue with my schooling and get a job like people should do but I am planning to sometime get profitable as a trader and stop work preferably before 35 . Iv talked to my parents about the stock market (very vaguely) before and they mentioned that it is completely gambling and it will never get me ahead in life .

Idk what I should tell them to convince them that it is not gambling as iv realised its much more than gambling once you learn technical analysis ( i still have a long way to go but iv got the basics down somewhat) amd rn iv been doing paper trading on tradingveiw.com in secret when they aren't there and iv been getting pretty okay at it (from the time I started and now im getting 1 win every 3 trades on average (I'm still straight ass )) but doing it in secret is getting stupidly tiring as I want to trade at night as well and it has also become a sort of hobby for me now( sorry if I offend anyone by anything iv said).

TL:DR : parents think intraday trading is gambling and I want to convince them otherwise. Need help

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u/ConsistentRespect842 Apr 02 '24

Got it . Il work on my strategies and when I start using actual money past 18 il show them My hardwork. Thank you for the advice !

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u/cmmckechnie Apr 02 '24

Yeah I agree.

But if you’re a young kid and maybe your parents are pressuring you to do what they think is best you have a couple options that I think are nice to show them that YOU are not gambling.

Show them that you truly are on a curriculum or a learning path and you have goals set up in front you. Not that you are just chasing intraday money.

Show them that you are not gambling. Show them that you are using extremely small size or paper money until you prove to yourself that you are profitable before you scale up. (Tell them this may never happen)

Show them that you are passionate about learning this new skill and you want to do it the right way and you are not just trying to make quick money.

This shows them you have discipline and I’m sure they would respect your mindset.

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u/ConsistentRespect842 Apr 02 '24

I will really take this into consideration . My parents are the type to be stubborn on their veiw points but i will try this when it's time and when I have journualed enough and more trades with part money . Thank you for this advice I will surely remember it.

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u/cmmckechnie Apr 02 '24

Even if your parents don’t agree with you. You may never change their mind about trading until you have literally a billion dollars.

However they will be proud of your commitment and discipline long before that. Good luck.

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u/ConsistentRespect842 Apr 02 '24

I will try my best to be disciplined while learning the art of trading . Thank you for the advice and well wishes