Random human asking me – “You’re a day trader?”
Me responding – “Yes, I am.”
Random human nodding head – “I can’t do that. I don’t know math.”
Me – “What does math have anything to do with it?”
RH – “I’m not good with numbers.”
Me – “Me neither, I can barely add 5 + 8.”
RH – “Huh?”
Me – “The only numbers I need is to figure out how much money I won or lost and I can use a calculator for that. Otherwise, I don’t think I see any numbers while trading other than what the price is, and that’s truly irrelevant.”
RH – “I don’t understand, I thought you need to be good at math to be a good trader.”
Me – “You thought wrong!”
Recommended Read: Useful Degrees For Trading Stocks
There is a weird idea floating around that one needs to be good with numbers and up on their maths to become a strong day trader. I’m completely unsure where and how this urban legend began, but I’d like to put an end to it right now.
No matter how many hours a week I spend in front of my charts, and sometimes we are talking more than 50 hours, I have yet to use a single math concept other than counting up how many points I have won or lost.
To sum up this misconception once and for all:
No math skills are required!