Average Joe Investing

[SolidusXParticipant 854]

Ho Lee Fuk, MGTOW! wrote:

Beer,

I think most people just don’t understand the effects of compounding. How it can work to really enrich ones life (Reinvesting earnings) or how it can be an anchor that drags you down (Debt). Too bad most people are stuck in the latter because of their inability to control their compulsive behaviors.

I have to disagree about Daytrading being “rigged” though, being a trader (Intermediate term position trading) myself i see that term thrown around too much. It is considerably harder to make money trading short term than it is long term though. One of the biggest difficulties around Daytrading is the fact it requires alot of screen time & you basically have to do it full time, which creates an opportunity cost in not being able to work a fulltime job. Longer term trading allows you to work that job but also trade on the side (End of day/week analysis) so you have that stable income & open yourself up to the possibility of capital appreciation aswell. I do know a couple successful full time daytraders, but they basically traded a 40 hour 9-5 job to work 80 hours a week. I do believe there is a trading style for everyone out there which fits their beliefs and psychological profile, it’s whether you work hard enough at finding it and executing you’re system to the greatest ability.

It is soo true, sometimes I have to work 10 hours in a day to make a buck sometimes I work an hour to make a lot of money… It really depends on the market and how well you do your technical analysis.

Knowledge is power..... Don't waste your brain on bullshit

[Ho Lee Fuk, MGTOW!Participant 100]

SolidusX wrote:

Ho Lee Fuk, MGTOW! wrote:

Beer,

I think most people just don’t understand the effects of compounding. How it can work to really enrich ones life (Reinvesting earnings) or how it can be an anchor that drags you down (Debt). Too bad most people are stuck in the latter because of their inability to control their compulsive behaviors.

I have to disagree about Daytrading being “rigged” though, being a trader (Intermediate term position trading) myself i see that term thrown around too much. It is considerably harder to make money trading short term than it is long term though. One of the biggest difficulties around Daytrading is the fact it requires alot of screen time & you basically have to do it full time, which creates an opportunity cost in not being able to work a fulltime job. Longer term trading allows you to work that job but also trade on the side (End of day/week analysis) so you have that stable income & open yourself up to the possibility of capital appreciation aswell. I do know a couple successful full time daytraders, but they basically traded a 40 hour 9-5 job to work 80 hours a week. I do believe there is a trading style for everyone out there which fits their beliefs and psychological profile, it’s whether you work hard enough at finding it and executing you’re system to the greatest ability.

It is soo true, sometimes I have to work 10 hours in a day to make a buck sometimes I work an hour to make a lot of money… It really depends on the market and how well you do your technical analysis.

Such is life of a Trader. Unlike working a job, there’s a very real downside that’s wiped out many who practice due diligence. Nice to talk to another Trader on these boards though. As a MGHOW, i feel it’s the ultimate location independent business, with minimal overhead compared & Insane upside potential.

[SolidusXParticipant 854]

Ho Lee Fuk, MGTOW! wrote:

SolidusX wrote:

Ho Lee Fuk, MGTOW! wrote:

Beer,

I think most people just don’t understand the effects of compounding. How it can work to really enrich ones life (Reinvesting earnings) or how it can be an anchor that drags you down (Debt). Too bad most people are stuck in the latter because of their inability to control their compulsive behaviors.

I have to disagree about Daytrading being “rigged” though, being a trader (Intermediate term position trading) myself i see that term thrown around too much. It is considerably harder to make money trading short term than it is long term though. One of the biggest difficulties around Daytrading is the fact it requires alot of screen time & you basically have to do it full time, which creates an opportunity cost in not being able to work a fulltime job. Longer term trading allows you to work that job but also trade on the side (End of day/week analysis) so you have that stable income & open yourself up to the possibility of capital appreciation aswell. I do know a couple successful full time daytraders, but they basically traded a 40 hour 9-5 job to work 80 hours a week. I do believe there is a trading style for everyone out there which fits their beliefs and psychological profile, it’s whether you work hard enough at finding it and executing you’re system to the greatest ability.

It is soo true, sometimes I have to work 10 hours in a day to make a buck sometimes I work an hour to make a lot of money… It really depends on the market and how well you do your technical analysis.

Such is life of a Trader. Unlike working a job, there’s a very real downside that’s wiped out many who practice due diligence. Nice to talk to another Trader on these boards though. As a MGHOW, i feel it’s the ultimate location independent business, with minimal overhead compared & Insane upside potential.

Yeah it is nice indeed to talk to someone that also trades :), any time I talk about day trading to my friends or other people I get a deer in the headlights look lol. Day trading changed my life, if you are comfortable living on the edge of your seat and for me anyway sometimes surviving off 500 bucks in a month and sometimes 10,000 in a month day trading is for you lol.

Knowledge is power..... Don't waste your brain on bullshit

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