carey
High Supremacy Member
- Joined
- Sep 10, 2002
- Messages
- 38,387
- Reaction score
- 3,783
Yup, many of the "day traders" are what we call "jobbers"It is good to note that day trading essentially means that you need to make more correct decisions than wrong ones.
The more decisions you make, chances are that you will make many wrong ones too.
To make money, you will need at least 60% hit rate to factor in transaction and misc costs.
Without a regular income, or some savings set aside for living expenses, life can be stressful. Especially if you get emo, whack a big sum, and lost.
They just scalp for a few ticks and call it a day once they make like 1k a day
Quite profitable if you are a good momentum trader