Is Day Trading Profitable for Beginners?
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Is Day Trading Profitable for Beginners?
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Here’s a reality check. 90% of beginner traders fail. And why is that? It’s not because the market is "too hard" or "rigged." They jump in without a strategy, guidelines, or plan. They trade based on emotions, chase trends and hope for the best. And as we know, hope is not a strategy.
Today, we’re diving into one of the most fundamental elements of a trader's success—one that separates the amateurs from the pros, the dreamers from the doers. I’m talking about the trading plan—your personal roadmap to the financial markets. This isn't just a suggestion or a “nice to have”... it’s a necessity.
If you're just getting started, maybe you've heard the term thrown around, but trust me, a trading plan is your compass in the chaotic world of markets. So buckle up because by the end of this episode, you'll understand why it’s so critical and, more importantly, how to start crafting one for yourself. Ready? Let's get into it.