Day trading sounds pretty glamorous. Wake up, place a few trades, earn some money and go about the rest of your day doing what you want to be doing. However, have you ever wondered if that was too good to be true?
This infographic sheds light on the truth about day trading. As in, what is truly like to be a day trader. The most compelling point for me was that 25% of traders that started out losing money began to be profitable after a 3-5 month learning curve with training.
This makes so much sense to me. I find it completely baffling that first-time traders think they can figure it out buy themselves. The school of hard-knocks is always more expensive then real education.
What do you think about these statistics? Where do you fall?
And if you look at the fact that 70% of traders lose money, do be scared. It’s natural for that to happen. The important thing is that you understand losing is part of the game and learn to manage it like a pro. If you want ideas on how to do that, you’re definitely in the right place, because at Investing Shortcuts we believe in giving you all the tools and mindset necessary in order to succeed as a trader.
We don’t want to you to be the 88% that don’t make it in the world of trading. So check out all the posts and free training we have on offer at the site that teach you about the truth about day trading, and make sure you read, absorb and implement all you can. That includes understanding mistakes you’ve made and how you can turn those around into profitable trades. After that, it’s just refining your process and tracking your numbers. Of course, this can take months or years, so know that trading is a long term game. Those who think it’s a get rich scheme are sorely mistaken.
