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Strategies & Market Trends : DAYTRADING Fundamentals

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To: bobevans who wrote (18132)	5/21/2016 3:32:48 PM
From: Dave O.	Read Replies (1) of 18137

< Most day traders lose all of their money eventually. It's gambling. Long term investing is a smart way to become wealthy. Dollar cost averaging into well diversified , low cost etfs, mutual funds, is a no brainer.> Sure plenty of day traders do blow up. But 80-90% of startup businesses fail. Is that gambling? Not necessarily. Nor can one say trading is gambling. If someone works in the restaurant business for years, saves money and opens their own restaurant it may succeed or fail. And someone who studies the markets, develops multiple ways to trade them is not gambling. I left my corporate job 20 years ago to trade. And I still am. People who dollar cost averaged in the late 90's were in for a shock after the bubble burst in early 2000. And it took many years to get back to 'even' and some may still be under water. NASDAQ peaked at 5100 in March 2000. Today it's at 4770. Traders who went home flat or nearly flat day in and day out didn't suffer the drastic meltdown of the early 2000's or the rough ride in 2008-09.

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