Day Trading is Gambling! or is it

Making of a Day Trader Podcast

Is day trading gambling, you want to know? Well, I'm here to give you the goods on this.
This is something we hear all the time about day trading. And you know what? Yeah, it kind of sounds like it should be a gambling type of a thing, just like poker, just like going to the casino, blackjack, the roulette table.
Day traders, people that put money into the market. I don't know about you, but being in this industry, I cannot even tell you the amount of people I get contacting me saying, hey, I want to trade. I just put in five thousand bucks into the market. I'm like, oh, which market?
I'm not sure. I think it was stocks because, you know, somebody said that the stocks I mean, this alert room where, you know, they kind of mentioned some good stocks. I'm like, OK, where did you enter? Oh, I just followed. I just put in and, you know, of course, they end up losing 99.99% At times, they lose and then what do they say after that?
Oh, this is gambling, it sucks. There's so much risk. I lost all my money. I blew an account. Yeah. What's your strategy? They don't even know what a trend looks like. I've asked so many people who have lost a ton of money and are at their wits end. I'm saying it's a gambling. This is too risky. I'm like, OK, cool. Tell me what your strategy is. Where do you enter?
What indicators do you use? What charting platform do you use? And you know what they tell me? Charting platform. What do you mean or indicators? Well, I have the moving average. I use a candlestick. I'm like cool. So where do you enter from? They don't know. What's your risk management? Oh, I don't have a risk management. I know when to get out. No, you don't. Emotions when your stakes are high will get you every time.
So, no, you won't know when you're getting out. You are gambling everything you've got on your trade. And it's not even a real trade because you don't even know what you're doing. So tell me, how is that? Is that gambling when you're just entering the market blindly? Hell, yeah, it's gambling.