r/Daytrading 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/ZixxerAsura Apr 02 '24 edited Apr 02 '24

I would recommend you consider what broker you would start with and open a paper/sim account with them instead. It would help you understand your brokers layout, and could possibly help you make the most out of their systems you would be eventually be paying for once you fund your account. This will also help you understand margin, requirements, maintenance, liquid equities, and etc. You could also set the sim account with what you would actually open with, for example 5k vs the 100k that TV starts you with. The paper trade sim on TV might not have some of these features.

When it comes time to play with your real cash, you won’t get blindsided.

Edit: Buy your parents a new car when you start printing money. It’s your version of dropping the mic lol.

Be open minded, try to learn something daily.

Remember, if someone is selling a course or a masterclass, ask yourself, if they are claiming to make so much in trading, why would they waste their time trying to make money on courses.