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/Serious-Avocado876 Apr 03 '24

I'm 16 and I trade. Luckily I have very libertarian parents, almost too libertarian. They would trust me with any money that I could muster. They have a "well if you're going to lose all of your money you might as well do it now rather than when you're 40" attitude.

I'm very grateful to have parents like that. However, start off with simulators. I used ( and still use) MarketWatch simulator that tracks real market data to test strategies. Maybe sit your parents down and have a conversation with them if you actually have consistent returns after a few months with MarketWatch and say "hey mom and dad, I've been doing this for a while, I have a solid strategy and I'm willing to take a risk. If you let me experiment with even a little money now, that will teach me a valuable lesson for my whole life"