Is being a day trader a life purpose?

[RyanP]

Hey anyone who chooses to read this. 

I recently purchased the Life purpose course and haven't finished it yet but right now I'm half stuck in a wage slave job and see day trading as a way to get out. I'm wondering if you guys think it's an egoic choice and not worthy of a life purpose or should I just do it in the meantime to escape wage slavery?

While I'm doing the course the only thing that comes to my mind is something stock-related so I'm having an issue of if I should let go of it or not. thank you for your opinions  

[Guest SirVladimir]

This is definitely not your life purpose. It's merely your survival need craving to be satisfied.

Look, you'll be stressed as fuck as a day trader, and charts and screens will become your new slave masters unless you conflate marksman-level expertise with relentless mindfulness. You'll wake up in sweats in the middle of the night, you'll constantly be on the lookout, neurotic thoughts will haunt you like a face tic. It will cost you friends, hair, and the best years of your life. It'll fuck up your brain chemistry. Unless you conflate expertise and mindfulness. I heard stories of people making 50-60 trades per day, as well as 2-3. Do you really want to undergo that? What's your strategy?

It took me 3 years of research until I became a consistent swing trader, yet I still don't have enough capital to do it full-time. Maybe in the following years. I even programmed my own indicators for god's sake. If you are eager for trading to solve your need, please, think carefully, and please, don't sell your soul short. Swing trading is a lot more chilled with a trade's lifespan ranging from several days to weeks instead of hours. Still, it's a deadly water unless you know how to tread it.

 

 

[Michal__]

5 hours ago, RyanP said:

Hey anyone who chooses to read this. 

I recently purchased the Life purpose course and haven't finished it yet but right now I'm half stuck in a wage slave job and see day trading as a way to get out. I'm wondering if you guys think it's an egoic choice and not worthy of a life purpose or should I just do it in the meantime to escape wage slavery?

While I'm doing the course the only thing that comes to my mind is something stock-related so I'm having an issue of if I should let go of it or not. thank you for your opinions  

Why not experiment with trading while contemplating your true life purpose? 

It's normal to not have a life purpose right away, it can easily take you a few years to find it.

[Lews Therin]

6 hours ago, RyanP said:

While I'm doing the course the only thing that comes to my mind is something stock-related so I'm having an issue of if I should let go of it or not. thank you for your opinions  

One thing i actually thought about, but didn't ring that much to me, was to be a independet stock analyst that focus on environment friendly companies.

You could sell a recommend portfolio (in wich people pay monthly to have acces) were you analyse both the results and numbers of each of your selected, and their impacts on the environment, that way people who want to invest in stocks for themselves without damaging the world can just read you content.

[Leo Gura]

No, it is a get rich quick scheme. And you will end up losing all your money.

Day trading is for fools. You are just gambling while calling it something more.

[JosephKnecht]

They call it day trader because you will be trading your days for useless pieces of paper aka money. 

[Hello from Russia]

Why don't you just learn some actually valuable skills and create a service/consulting business instead of this bs? Will be much more reliable and you'll get way more long term benefits out of it (not to say you will actually be doing something good and constructive to society and feel good yourself as a result)

Edited November 21, 2020 by Hello from Russia

[Forestluv]

@RyanP Good luck trying to beat highly sophisticated algorithms that prey off of day traders. I met a British guy in Peru who spent years designing his own algorithm and was successful. He made a few million dollars and now works about an hour a day to maintain his savings and live a modest life. Yet he was a brilliant quant and lucky. For every one of him, there are likely 1,000 that lost. 

I tried it for a couple years and it didn't go so well.  

[Preety_India]

I did day trading for a long time since the age of 21. 

Quit it. The stress was horrible and many many losses and fake dreams of getting gains 

I remember sitting on my bed one day and logging into my account to see my trades and then my eyes rolled back and I lost consciousness and collapsed. 

I lost a lot that day. Then for the next 15 days I never ate, never drank, never slept, I became a zombie not wanting to live.. 

The financial stress was unbearable. 

After that I quit the whole trading business forever 

I might as well drink poison than do trading again. Not worth my life. 

Plus it is so bad spiritually it makes you a very strange kind of Stage Orange beast almost like some evil money hungry incarnate. No don't want. It's too unhealthy for the soul. 

 

[Leo Gura]

Just realize this: when you are day trading your job is essentially to steal money from others. Only you don't call it "stealing".

And then you wonder why it doesn't work and why your money gets stolen instead.

When you enter a den of thieves, expect to get robbed. That's called being a fool.

[Preety_India]

Yea I was a fool to do it. But once bitten twice shy. 

No longer a fool.... 

 

 

[JohnD]

I have a little experience here. Day trading is very orange. Luck plays a large role in individual and organizational success. There's a great depth of understanding that goes along with day trading and many variations of day trading (Stocks, Options, Equities, Futures, Securities, ETFs, etc). I highly recommend studying this if you're new to stage orange and it interests you, as there's enough content and progression to consume your attention for a good few years. On the other hand, you won't find fulfillment, and you probably won't get out what you put in.  It's fundamentally chaotic, and if you're introspective you might get the sense you're wasting your potential.

TLDR: It's a good option if you're new to stage orange