Bah, day trading is just gambling. People get lucky and problem it as skill, but it rarely is.
Studies show that only about 13% of day traders maintain consistent profitability over six months, and a mere 1% achieve long-term success over five years. More than 99% of professional day traders are not profitable and certainly not consistently so. There are a lot of good reasons for this. But there are other investment strategies with way higher and more effective success rates.
By contrast, Iâm a huge proponent of some variation of consistent DCA with long term performance strategies⌠Possibly with modifications where your increase the buying rates when prices are low and decreasing when prices are high, similar to recommended strategies for retirement withdrawal amounts as the market fluctuates.
Though in the end, almost any strategy is better than doing nothing. Hereâs a really cool analysis on some different investing strategies over the market history to make that point pretty solidly:
So, no, I donât think day trading is wonderful. I think itâs nearly impossible to be long term consistently successful that way. DCA is wonderful though.
Yeah I remember you saying that, still good to have a refresher and for others.
IIRC, it was 20 percent and 1M (to apply, not guarantee acceptance.). Iâm sure about the first number, not as much on the second, but it gives a rough idea.
You should play View Stocks for the âWYZE app 3.0 Releasedâ post, now up to 6,000 views or better yet the PepĂŠ Le Pew & Friends Post at 24.6K. Just think of all the pennies you would have. That is a lot of flies you could be snacking on.
I know, huh, except after you have so many pennies and flies you canât spend or eat them all, it becomes a game of comparing Richards and how much fun is that?
Better to sit here so contentedly and watch the river flowâŚ
Seems to me thereâs a purposeful vagueness being dropped over the facts here like youâd do with white dust covers over furniture off-season at your country estate.
People who are usually on-it on-it on-it on-it are like, wull, i donno, itâs not really clear, durrrrâŚ