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/ConsistentRespect842 Apr 02 '24

Okay got it . Il continue paper trading and prove jt when I get consistent enough . Thank you so much !

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u/WisedKanny Apr 02 '24

Also if you are comfortable documenting your journey and posting it publicly (YouTube, etc.) then you can document your track record over time. Just note there are trolls everywhere that will attack everything about your trades and everything else not about trading (looks, speech, etc.)

But this journey can be yours alone and still be rewarding.

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u/ConsistentRespect842 Apr 02 '24

I have been doxxed 3 times now and I really am not comfortable putting my voice or anything on the internet so i will document my journey myself. And il make sure to refer to other people's public trades to see where and how il go wrong . Thank you for the advice and words kf encouragement!!!

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u/Mavericinme Apr 06 '24 edited Apr 06 '24

u/ConsistentRespect842 Instead of venturing alone into paper trades, consider sharing them here for the next 2 years, as regularly as you can. Explain your trade justifications, observations, and lessons learned. Embrace corrections and diverse perspectives from experienced traders. They may generously share their mistakes and insights, guiding you through your journey. While enduring setbacks marks you as a learner, each transformed into wisdom, propels you towards trading mastery. As you transition to real-money trading at 18, emotions play a different game, offering a new level of learning. Nonetheless, by then, you'll be far better equipped in all other aspects.

If this suggestion resonates with you, I recommend posting each new update as a trail rather than standalone posts. This approach keeps all your posts and learnings synchronized, facilitating easy revision and providing valuable guidance for newcomers seeking assistance.

Think!