Topic 5450467
Re: Trading not a get rich quick
by on 11/06/2023, 08:36:49 UTC

There's no need to even tell them to go ahead with it; it's just good to give them some guidance by telling them the simple truth about trading. It is good to let them know that if they don't learn and familiarize themselves with the trading tools, strategies, and rules, they may not even make any profit, even before considering it a get-rich-quick scheme. There is a guy I am aware of who makes about $100 on a daily basis from his trading; at times, he even makes more profit than $100. So I can say that trading can really give someone a more frequent income, but that doesn't mean they don't sometimes lose money. learning how to become a successful trader doesn't just happen so suddenly.

I tend to think that it is better to make fewer transactions, and not focus on daily earnings, but wait for a favorable moment for a transaction. Waiting for market drawdowns like the one that happened yesterday is more like medium-term trading, but it's the way it works for me. I do not try to calculate how much I managed to earn on average per day, because for me only the final result is important, the amount that I managed to earn.