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Can someone explain why so many people lose their money day tradin if SEC requires 25k account min. Do they turn to swing trading after they can't meet minimum?
Thanks
Can you help answer these questions from other members on NexusFi?
kinda like survival of the fittest
less than 25k and you are almost forced into futures because of day trade rules and overnite marjin
with less than 25k most of the time you need to hold trades over nite , the 3 trade rules can cause you to take on more risk
the day trade rules , causes you to get smart or get eatin
1. Many are called, few are chosen. A few can ... many can't.
2. Once they lose most of their account, they switch to Futures with a $5k minimum to open an account.
3. When they lose most of that account, they open an account with a Forex dealer and trade micro lots.
4. When they lose that account, they switch to trading SIM, start a Trading Journal, expound upon the genius of their trading philosophy into perpetuity , post all their "Wins" and generate smirks,snickers,derision and raised eyebrows from experienced traders.
5. Once they get banned from their trading board, they open a Trading room, sell a training course and offer their "proprietary indicators" that they copied from the Elite Section of futures.io (formerly BMT).
And there you have it....
I'm just a simple man trading a simple plan.
My daddy always said, "Every day above ground is a good day!"
I think most 'day traders' fail because they don't cut their losses early enough or they take positions overnight (hoping that the situation will improve and it the loss gets bigger and bigger).
If you trade 500 or 1000 shares, losses can add up quick.
