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The average person is more likely to lose money day trading than gain (especially considering the time sink). It's basically boring slow gambling wrapped in the
by stupidbird 8y ago
The average person is more likely to lose money day trading than gain (especially considering the time sink). It's basically boring slow gambling wrapped in the guise of The American Dream.
- fermienrico 8y agoStocks are traded everywhere in the world. What’s this have to do with The American Dream!?
- stupidbird 8y agoThe American Dream is to accumulate wealth, and often involves looking for a way to get rich quick, some people think they can do it by day trading. There's a certain American stereotype of playing stocks to become wealthy.
- guelo 8y agoThere are cultures where they don't dream about accumulating wealth?
- stupidbird 8y agoLess than the extent that Americans do? absolutely. In many ways they're obsessed with it. Look how much the gambling industry makes there.
- guelo 8y agoMacau's gambling revenue dwarfs Las Vegas's. None of the top 10 biggest money making casinos are in the United States.
- X-Istence 8y agoThe average person shouldn't day trade. I buy stocks and basically hold them for years. I've picked some losers and I've picked some winners... but overall my return over the last ~5 years is 19%. Buying stock with dividends helps even more, now you get money back to invest into more stock :-D
- shrimpx 8y agoAnd by not day trading you're not gambling? Let's just call it betting. What stance are you promoting that is "not betting"?