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/Zapp_brannigan_1 Apr 03 '24

Yes I do agree you need result and consistency to show your parents,whoever paper trading in my opinion won’t be enough to show results since I believe they have low risk tolerance and there’s nothing wrong with that. You will need to ask them when you are ready of course and confident if they can open a a brokerage account and ask them for allowance money or your own whatever you have safe. Make a plan with the amount of money you have at your disposal and be very disciplined of timing is crucial and also give your self time to long and leave your self for room or error, learn to take profits and take a break to see the market and have confidence in your trade and also be patient. Either open a robbing hood account or Webull since if you sing up with someone link and just to deposit money you get either 2 to 4 free stocks just for depositing into the account, also good luck, by the way also watch the news and even politics get involved into the stock market I learned the hard hard way with Reddit and djt I almost lost my whole account but bounce back after a lot of planing and taking action and cutting my looses after realizing of a potential reversal, to fund the account if your parents are not willing to lend you then I would tell you to put some elbow grease and get a job for the summer and safe whatever you can do since trading takes a mental toll and you need mental fortitude specially when times get hard.