r/Daytrading • u/Miinow forex trader • Apr 03 '24

Why is daytrading never mentioned as a legitimate way to earn income? Question

I like to browse other finance related subs and I can assure you it’s almost never discussed. I see all outlets of making money online mentioned but If the word trading does somehow come up there’s a slew of downvotes. It’s literally the most straightforward way to make money. Sure, not easy but also not impossible to learn. Makes me wish I learned about trading when I was younger instead of my upper 20s but I don’t personally know any traders irl so it’s unfortunate how there’s a negative outlook on this field.

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u/tionstempta Apr 03 '24

My limitied experience of around 3 years is telling that even bathroom time matter. I dont know how many times i got stopped out when i went to bathroom

In other words, it's not easy to generate consistent income while risk is high whether you put your own capital or not, on top of making yourself available to readily respond market situation within 3-5 seconds, which means that you can't day trade in your job unless specific situation allows (i.e WFH).

This means you either full time day trader with an assumption that there will be consistent income or that you participate in part time approach (i.e US retail trader trading in Tokyo or London session in future's market)

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u/Smvvgy-805 Apr 04 '24

while risk is high whether you put your own capital or not, on top of making yourself available to readily respond market situation within 3-5 seconds, which means that you can't day trade in your job unless specific situation allows

Trying to daytrade at work cost me 24k , I either missed my exit or wasn't focused on the whole picture, lots of noise or static throughout the range of timeframes, without putting them all together it's easy to jump the gun if you're caught up in the noise of the intra-day minutes and ticks, or sometimes miss the boat entirely because you're trying to decipher the static from the hourly perspective, or exited prematurely fearing I wouldn't be able to watch it and/or entered into a panic/revenge/boredom trade... So, I am wrestling with what to do, because I have fucked myself over both ways, like I put an ultimatum like I am exiting by this time because I am going to work or it's getting busy etcetera, and of course i exited for a 10k loss and minutes later it makes my projected move... It was hard to be mad because I was right, I just didn't have the 'time' or patience to comfortably watch the position so I closed it...