Life of a Day Trader
Let me explain you the life of a day trader. The Life of a Day Trader is a hactic life. He swings between his job and his routine day trading activity. Let me give you one such example of my friend. My this friend works as a software engineer in some multinational company. He earns lots of money from his company but still he can't focus on his company work because of his day trading activity. I would say it a day trading addiction.
Literally millions of people are addicted with this syndrome. The desire to make instant money is very much high in the day traders and that's why they can't concentrate on their daily work during the trading hours.
My this friend has lost lots of money in the day trading activity. He doesn't believe in long term investing and appreciation of stocks on the fundamental basis. He believes in short term gains.He loves to speculate and not only this but he has spent lots of money behind his broker also for hot tips and advise. But none of such advises have made him rich yet.
When he reaches to the office, he starts his Laptop and open his online trading account. While doing the trading, he starts his routine office work. And because of his trading activity, he can't concentrate much on his job work.
I really can't understand that why people waste both of their time and money behind day trading. It is much more easy to build the wealth by doing a long term investment rather than doing the speculation in the day trading.
Well, I am not saying that trading is not a profitable business. Many Hedge funds have made billions of dollars for their investors by doing trading and taking short positions in the stocks. But well, they are the Hedge funds and they have a team of traders and research analysts and the advanced softwares and the most recent and accurate information about the market.
They can do it with the precise accuracy because they have all the infrromation and they have to do it by a team where the jobs are distributed. Now, you are alone. You have to earn money from your job as well as do the trading and market watch at the same time and you can not do all of these things at one time.
Believe me, in my opinion you should focus on your business or a job and invest your job or investment income in Equity, Bonds, Gold or Real Estate for the long term wealth building rather than speculating in the market daily. Believe me, your life will be much more smooth one you are on the path of long term investing...!!!