day trading is an enigma.
investing calls every new trader but none goes there first.
many never go there.
all come pulled towards day trading like hypnotised souls.
this write-up is for those souls
who want to live and die with their obsession
the day trading.
if day trading is a vault of money.
here are the 6 passwords to open that vault.
--------------------------
password 3 = "run"
day trading is not for wealth creation
it is for cash flow generation.
it is an atm.
you never retire from day-trading.
if u want to accumulate wealth
go to swing trading and then to investing.
day trading is self-employment at its best.
i have seen many day-traders bleeding to financial death
by not getting this basic password right.
they expect to become rich by trading trading
and all their trading decisions go wrong because of this.
greed of "all the money" immobilizes them.
fear of "recovering that gone wealth" freezes them.
day trading is a guerilla war.
you don't go there with tents and bonfire!
you go there on a mission
do it
and get lost!
what a paradox
that amateur day-traders
fear losing money
and hence don't buy multiple lots
but still expect big money.
this leaves them with only one way
stay in the position for long....and this traps them.
day trading doesn't mean you have to be there all day!
it is not a 9 to 3 job dammit!
as i said earlier
it is like a visit to an atm
put in the debit card of indicator
key in the amount
wait for the machine to count
take the money before it re-enters the machine
hold it tight
and go!
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