Day Traders Are Insanely Confident When It Comes To Money

Source: myjar.app

If you decide to embark on the path of a day trader, you will notice something happen to you over time. You becoe more and more confident when it comes to money. One reason is because you are not afraid to lose money the way a person is who has to work an hourly wage.

I’ve had conversations in my person life with friends and co-workers about day trading. I’ve told them that I would be willing to lose $10,000 if it means I could make $100,000 over time. A person working a day job may not be able to wrap their minds around that because $10,000 is still a lot of money, but what if you had $1 million? Losing $10,000 is the equivalent to losing $1.00 if you have $100.

Day traders make their money daily, not weekly or bi-weekly like a wage earner does (As I write this post, I still have my day job). If your account is at a certain level, you could make more money in a day than a neurosurgeon makes in a year… and that’s the equivalent to making $1 if you have $100.

A neurosurgeon makes about $267,000 a year. If you had a brokerage account size of $30 million, if you were to make a 2% daily profit, that would be $600,000. If you were to take out taxes, that would be $300,000 in a single day. If you had an account size of $600,000, you could make $300,000 in 20 days (one trading month).

“What about if you don’t have that kind of money?”

A highly skilled day trader can take out a loan of $10,000 and pay that loan off in less than a year and be able to day trade without having to worry about the debt. A highly skilled day trader can take $200 and slowly grow it into millions. By the power of compound interest, they’ll keep re-trading the profits until the account size is so large that they can make what a neurosurgeon makes in a year on one trade… on a bad day.

I’ve had losing streaks that were very demoralizing but I still recommend people day trade. There is something very satisfying about the idea of making money without having to punch into a clock or work long hours. At work, I’ve taken day trades on the job. I remember I made a little over $100 while using the bathroom.

Those of you reading this, who have never day traded, will think that I’m lying. Those of you who are day traders may be saying “is that it? I’ve made over $1,000”.

Day traders are unbreakable once they’ve achieved a high skill level. They could lose their house, their car, and their job, but if they have an account size of around $250,000, they could get all of that back in a less than the time it took them to achieve all that.\

Whenever you have the power to make money almost out of thin air from your smartphone or laptop, on a daily basis, you feel unstoppable.