In my opinion it isn’t.
I really don’t believe that day trading is gambling.
But I’ve been trading for 20 years and for the better part of my trading career I did day trade and it’s a lot of hard work,
long hours and study to learn the nuances of the market and classical technical analysis.
In fact it’s so much hard work in my opinion that I would estimate most traders will not put in the time and effort to learn
how to day trade with nothing more than simple basic strategies that are typically hit or miss meaning that
you will sometimes win and sometimes lose.
I worked on my day-trading strategies for years and I was able to learn the strategies that I used so well that I know when to use them
in the ideal conditions so that I could avoid most of the risky trades that created most of my losses.
But most traders with limited experience won’t follow these principles and they ultimately trade as if they are gambling.
So it does become true that day trading can be considered gambling but it’s a case by case and you need to look
at the trader and their experience and their behavior.
What can you do if you want to day trade and not gamble your money away?
I would say that you need to start with the basics.
Learn classical technical analysis.
Day trading isn’t new. There are many traders who have successfully earned millions of dollars by day trading but again, it’s not easy.
I would recommend starting with learning how to read a chart with no indicators other than volume.
Learn how to see the battle between supply and demand.
Learn how to analyze and structure the phases of consolidation so you can best determine when the breakout is about to happen and
you can trade along side with the “smart money”.
The unfortunate problem is that there are so many people getting into day-trading (especially since the pandemic) so naturally there are going to be a lot
of people pushing and promoting their trading courses but many of these “gurus” don’t have much experience themselves and they usually “repackage”
other peoples’ information by watching videos on YouTube.
Since many gurus can’t successfully trade themselves, they find it easier to make a trading course, convince new traders that they can teach them
simple trading strategies that will make them lots of money and they sell the course.
(we’ve all been a victim of worthless trading courses that consist of nothing more than the same free material you can gather on the internet)
WHat happens next is that the new trader realizes the expensive trading course isn’t working (and they don’t know why) and they either quit
or they chase down the next shinny object promising lots of profits. And it repeats over and over again.
It doesn’t have to be that way!
Learn the basics… the way of the best traders in the world. There are noticeable differences in the way the greatest traders in history trade…
they didn’t take short cuts, (they didn’t even have computers, they made their charts by hand) and they dedicated their lives to learning how the markets work.
You have to realize that you are trading against the best traders in the world. You’re not going to beat them by using some simple trend line break strategy that you
learned on YouTube!
If it was that easy everyone would be doing it.
If you are determined to be a successful trader, take advice from more experienced traders, see and learn what it was that they did to succeed.
Study hard and master your emotions and control your environment.
Learn classical technical analysis.
And if you’ve tried your hand at day trading and you think it isn’t for you but you still see the money making opportunities in the markets,
you might consider letting someone else with experience trade for you.
That’s why I created my MT4 trade copier service.
It’s for traders who aren’t yet experienced enough to day trade for themselves or they simply don’t have the time to day trade and that’s where I can help you.
Using my MT4 Trade Copier service, I will execute all trades for you and I manage each trade.
You could earn profits in your MT4 trading account without ever executing a trade yourself!