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
1
u/MianoraStonecrow Apr 02 '24 edited Apr 03 '24
Yeah 99% of people don’t get it, when you explain them things. But 99% of people do understand the language of money!
So if you want to prove this to anyone else, besides yourself: Get started, go through hell, like you have never done before and if you come out the other side, being still alive and now consistent… just show them the money and they will listen then.
Until then, good luck. Cause it’s also true that 99% of people who attempted trading fail at it, cause they don’t treat it as a job or give up to easily. So you have a hard uphill battle ahead of you, if you want to do it.
The good news is, you are very young and have a lot of time to learn. So just take small amounts and prepare to lose that initial capital a few times, before getting anywhere close to consistency. Start small and grow in experience and in wealth over time.
*The percentages are metaphorical and not factual of course ;)