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Is day trading gambling, you want to know? Well, I’m here to give you the goods on this.
Hey, traders, it’s Marina, the trader chick with another cool video of Confessions of a Trader Chick. OK, so here’s the deal, gambling. This is something we hear all the time about day trading. And you know what? Yeah, it kind of sounds like it should be a gambling type of a thing, just like poker, just like going to the casino, blackjack, the roulette table.
But if you think about it, anything we do in life can be a gamble. All right. So let’s take somebody that says, hey, I want to be a doctor. Cool. What do you think that means? Right. What are the next steps for being a doctor? They probably go to med school. They definitely go and do their residency. Then they go and work in a specialty unless they want to be like a general position.
But at this point or a general surgeon, whatever. But at that point, even when they decide on the general one, they’ve already put in 10 to 12 years of learning, studying and doing right. So this is what happens now. If they go into an operation room, into a surgery, chances are it’s not going to be a gamble. Right? We’re not going to be like, oh, are they going to be weird or not?
Pretty much. They already know they’re going in, and they have the skill set. They know what they need to do after that. Well, you know, that depends on the patient. That depends on so many other things. But the doctor going in has the idea they know what needs to be done. They also have charts. They also have preparation. They know what they’re going in. So they’re also not just going into any random surgery. They are prepped before they go into the surgery and understand what’s going on.
Right. So it’s not really a gamble. Now, imagine this. Imagine all of a sudden somebody is saying, hey, I want to be a doctor. And next thing you know, they’re in the operation room with a scalpel in hand. By the way, they might have not even had the right scalpel. They just might have a knife for all they know. What do you think the chances of a patient dying is? Pretty, pretty significant, right.
So that’s a gamble. He’s just gambling, entering that room, thinking they might end up doing the surgery with zero preparation. Now, here’s the other reality. Day traders, people that put money into the market. I don’t know about you, but being in this industry, I cannot even tell you the amount of people I get contacting me saying, hey, I want to trade. I just put in five thousand bucks into the market. I’m like, oh, which market?
I’m not sure. I think it was stocks because, you know, somebody said that the stocks I mean, this alert room where, you know, they kind of mentioned some good stocks. I’m like, OK, where did you enter? Oh, I just followed. I just put in and, you know, of course, they end up losing 99.99% At times, they lose, and then what do they say after that?
Oh, this is gambling, it sucks. There’s no reality. There’s so much risk. I lost all my money. I blew an account. Yeah. What’s your strategy? They don’t even know what a trend looks like. I’ve asked so many people who have lost a ton of money and are at their wit’s end. I’m saying it’s gambling. This is too risky. I’m like, OK, cool. Tell me what your strategy is. Where do you enter?
What indicators do you use? What charting platform do you use? And you know what they tell me? Charting platform. What do you mean or indicators? Well, I have the moving average. I use a candlestick. I’m like cool. So where do you enter from? They don’t know. What’s your risk management? Oh, I don’t have risk management. I know when to get out. No, you don’t. Emotions, when your stakes are high, will get you every time.
So, no, you won’t know when you’re getting out. You are gambling the farm. You are gambling everything you’ve got on your trade. And it’s not even a real trade because you don’t even know what you’re doing. So tell me, how is that? Is that gambling when you’re just entering the market blindly? Hell, yeah, it’s gambling. But what if you sat down? What if you actually learned a strategy? What if you actually knew what indicators you’re using and the charting platform?
By the way, if you guys don’t know this, that’s cool. Nobody knows this information to start. We are not born with this. Just don’t go live. I have a free mini-course to help you take your first steps to understand what is necessary to be a day trader. When you go to med school, they give you the idea. They tell you what needs to be done. Go for my mini-course, simplifyingdaytrading.com sign up.
At least you will have the beginning artillery. You will understand what is necessary. You will understand that you need indicators. You need a trading platform. You need to know what risk management is and have that in place. There is no “oh, I’ll get out when you know, when I feel like it” by then your money is gone. There is no feeling like it. There is no random going in. If you have a very solid strategy, there is no gamble.
You are not just lying. You know, you’re not just lying basically blindly, which is what the majority of traders do. That’s why they say 95% of traders fail, not because they’re actually traders. They’re just people putting their money into the market. The 5% that make it. They’re the ones that have the strategy. They understand what needs to be done. Don’t be one of that 95%. You can be the 5%.
You just have to apply. You have to develop a strategy. You need to be educated. Remember, I have a free mini-course simplifyingdaytrading.com And if you want to go in deeper, if you want a mentor, someone that will help you, I’m here. I’m here to help you take those steps. Do not do it alone. Do not donate more money to the market. All right. Remember simplifyingdaytrading.com free mini-course.
Or you can contact me at thetraderchick.com. Subscribe to get more videos just like this. Remember, you don’t have to do this alone and you do not need to be one of the 95% of the traders that lose. Go below. Subscribe, write me at thetraderchick.com and let’s do this together. You can become a real successful trader. And it’s not gambling.