Day trading has been called many things, but above it has been called a gamble. However, are there really any valid reasons for such a negative impression? Is it truly justified to consider day trading to be no more than just another form of gambling?
Yes, there is no denying that both day trading and gambling revolve around great fortunes. Both are big business. Great sums of money change hands every day through casino gambling and day trading speculative markets.
Casino games based on pure gambling have always had their success based on pure luck because they are solely a games of chance. Day trading, on the contrary, involves a certain amount of skill and knowing what you are doing, along with a measure of luck along the way. Day trading can be learned and the skill perfected if the right tools are available to teach it to a willing student. Is that the reason day trading tutorials have become more and more popular lately?
Day traders know all too well that luck alone will not produce a profit or winnings. A much better comparison to day trading would be a game of cards as opposed to a game of roulette, slots, or any other game of pure chance. Good fortune plays a decided role in bridge and poker, but still the winning hand is just about always decided by how well the player plays his hand, not by the cards he initially receives on the opening deal.
My next blog will cover two of thirteen important points about day trading. Until the next blog, you can click here to find out more about this subject right now.
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