Bob,
While I'm not an expert, I would suggest the key to understanding daytrading is to forget everything you currently understand about investing.
Your understanding and experiences related to risk, leverage, etc., etc., are completely different for daytrading. For example, risk in daytrading is holding a stock overnight, while long-term investing would suggest the opposite.
As far as everybody wanting to get into daytrading because it's an addiction to money? Couldn't disagree more. I don't need the money. What I like about daytrading is the freedom it brings to my life. I'm tired of managing people, dealing with personnel issue after personnel issue. Daytrading allows one to work as hard as one wants, depending on the level of money one needs. Me, I have no debt, live in a cabin on Puget Sound and life is good. I can enter the world of daytrading at a slow pace and learn as I go.
Oh, also if daytrading p*sses off a few fat guys in three-piece suits in some brokerage firm (who have been hogging all of the investment profits), then I'm really happy. The fact is, the world is changing big time. The information age is just beginning. More and more people will be working as independent contractors out of their homes, middle-men will disappear.
Better get on board!
Brent
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