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Misconception of Day Trading #2 – Math Wiz Need Not Apply

Day Trading Misconception #2 – Math Wiz Need Not Apply

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!

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