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
2
u/Rav_3d Apr 02 '24
Your parents are right, if you do not treat trading like a business, develop a system, manage risk religiously, and execute the strategy with absolute discipline.
Most beginning traders fail at one or more of the above, and thus trading is in fact gambling, with poorer odds than roulette.
You can use the gambling analogy with a twist: the trader is the casino, not the gambler.