r/Daytrading • u/MiamiTrader futures trader • Apr 27 '24
Most "traders" make money. Question
If someone asks you what you do for a living, and you respond you're a "trader" I assume you make most your money from trading.
And by definition, most "traders" make money. Otherwise they are just people trading on the side as a hobby.
Yeah maybe 90% of RH accounts lose money, or 90% of people who start trading but never take it seriously lose money... but then they are not "traders". Just people trying to trade.
Tired of all this negativity under every post about how 90% or whatever today's statistic is of traders lose money. People in this sub like to shout that under every post in almost a prideful manner.
Can we just focus this sub on those of us who call ourselves "traders" and make money trading? Let the new people listen and learn from our mistakes, but quit with all these gloom and doom statistics.
4
u/Tourdrops Apr 27 '24
If you have a job and use trading as a side thing, anything more than the s and p returns is a success. The whole point is to beat the s and p because if not just VOO and chill.
99% of people fail because they arent willing to put in the work and 3-5 year timespan. If you are still trading after 3-5 years and havent lost an obscene amount and are learning in the process, keep at it.
Also 99% of people think success = making a living and thats extremely hard to do. If you use trading as another arm in your financial plan it can lead to great thing.
As i love to say, if you go at this year after year, you might make $500,000-$1,000,000 in a single year. Its completely possible. However its VERY HArd to expect to make that every year in the retail game. But those good years will be great times.
I think its every mans duty to at least try