Stock day trading

[nydtch]

Is day trading stock considered entrepreneurship? Does it provide value for other people?

 

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[Subsonic]

Is day trading stock considered entrepreneurship? Does it provide value for other people?

It is called donating your money to the richest companies in the world.

Who is going to think "oh my, I am so grateful nydtch day traded today"?
I'd say Goldman Sachs is a top candidate.
Maybe blackrock as well.

 

[Shono]

It is called donating your money to the richest companies in the world.

Who is going to think "oh my, I am so grateful nydtch day traded today"?
I'd say Goldman Sachs is a top candidate.
Maybe blackrock as well.

Yup, and speaking from experience when you're so deeply invested in it, you have almost no mental bandwidth for anything else in your life, I am currently holding stocks but am looking to get out ASAP so I can move on to things that are fully in my control.

 

[Spenny]

Is day trading stock considered entrepreneurship? Does it provide value for other people?

Does it make people's lives better?
No. It's a game of who takes all.
Maybe the leverage fees you get are the value you provide, but a product or service is far more beneficial.

 

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[BizBrain]

Is day trading stock considered entrepreneurship? Does it provide value for other people?

It’s called working for yourself, aka self employment. Usually incurring a consistent net loss for majority who choose this route.

Does it provide value for other people? Yes. It provides value for those who are smart and disciplined enough to consistently extract money from the market on a daily/weekly/monthly basis.

Most people will never achieve this. Most people think of day trading as a slot machine or lottery ticket. They don’t know that the people who are successful, spend years devoting their time and money to constantly developing and refining their “edge”. Those that portray the “anyone can do it” and laptop lifestyle, are promoting a false lifestyle and have something to sell you.

Most who do it for a living (and do well) know that it’s more like a job than anything. It requires your time (to what lengths can vary greatly), and is normally not passive.

The biggest thing in this space is actually not the trading itself, but the people who sell courses, or subscription services to “teach” you how to trade. Extremely lucrative business model, but also very “snake oil salesman”-like. They hang their hat by their disclaimer that they are “not a financial advisor” and “any thoughts or materials shared should not be considered investment or financial advice”, due to legal reasons. It’s also safe to assume that all of them do not trade real money, and use “paper trading” accounts (aka fake money) to show off their flashy profits and to attract gullible followers who are convinced they managed to turn “$100 into $100,000 in just one month”.

That being said, I know (personally) two people who built a substantial following on social media with their day trading, and then funneled those audiences into paid private discord rooms for the tune of around $30,000 in MRR through either a monthly subscription model or a one time fee.

Most people who follow this route will have a very large payday for 1-3 months, before they stop posting publicly, lose relevancy, close their discord and slip away into the shadows only to be forgotten about. Most operate under aliases and never disclose their true name or identity, which leads me to believe there is a possibility of them creating multiple accounts and running this model over and over every quarter or every year.

I know another two people who have been “day trading” for 10 years, and of those 10 years they have only been consistently profitable YoY for the last 6. They sunk so much time and effort into what they did for the first 4 years with no guarantee of success, but they managed to pull it off and now can make anywhere between $20,000-$50,000 a month only dedicating 1-4 hours per day to actively trading. The catch here is, it’s normally not a linear revenue for them. Big swings in P&L can happen at any given time, but they follow a statistical approach in which they consistently track their metrics and know the probability and normal outcome of their inputs, just so they can properly manage risk and continue trading to effectively “outlast” the bad days/weeks/months. This is what separates them from most people who enter this endeavor. They are very smart, and very well planned out, just like a successful business owner.

All in all, the day trading/crypto/financial space is filled with smoke and mirror tactics that lead many to believe there is a low hanging fruit opportunity to be had- which is never the case.

I would never call myself an entrepreneur if I day traded for a living, and I wouldn’t say I provide any value to anyone other than the financial institution that collects the fees every time a trade is placed.

 

[heavy_industry]

lol

Do you want to be an actual entrepreneur or a money chaser?

If you want the former, stop gambling and start PRODUCTION.

Do or make something useful and then sell it.

 

[Ing]

I know some day traiders and actually one, who is making money with it. When he tells me, how he does it, its super easy.
So yes, I lost a bit, lime others, too.

So what to do with your knowledge?

You can make a YouTube chanel, where you make actual TA every day for daytraders.
You set an affiliate link to an exchange, where you get a percentage of the fees.

That’s how earning money with trading works and it even works better with Cryptos.

In a goldrush sell shovels! But that has not to do with trading, but working hard and making a good job for your customers.

 

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[loop101]

Is day trading stock considered entrepreneurship? Does it provide value for other people?

Innocuous questions make be suspicious.