10 Reasons why you should AVOID intraday/day trading (2024)

If you’re someone who is just getting into the journey of stock market especially trading in the stock market, then guys this is my experience in the market.

1. Emotional Roller Coaster:Trading can be an emotional roller coaster ride. The constant ups and downs of the market can take a toll on your mental well-being. I've experienced the stress, anxiety, and frustration that comes with trading, especially during volatile market conditions.
2. Financial Risk:Trading involves a significant amount of financial risk. You can lose money just as quickly as you can make it. I've had my fair share of losses and learned the hard way that trading is not a guaranteed path to riches. Of course people do make money, I myself have made money from day trading but it takes lot of patience, knowledge & control of your emotions.
3. Time-Consuming:Successful trading requires a considerable amount of time and effort. It's not a passive income stream where you can sit back and watch your money grow. I've spent countless hours researching, analyzing charts, and monitoring the market, which took away from other important aspects of my life.
4. Lack of Control:Despite all your research and analysis, you ultimately have no control over market movements. External factors such as economic news, geopolitical events, or even social media trends can significantly impact the market. It's frustrating when your well-thought-out trades go away due to unforeseen circ*mstances.
5. Market Volatility:Markets can be extremely volatile, especially in times of crisis or uncertainty like COVID - 19. I've witnessed sharp price fluctuations that can wipe out gains or escalate losses within minutes. It's difficult to predict or manage such volatility effectively.
6. High Competition:The trading world is highly competitive, with professional traders, institutions, and algorithms constantly competing for an edge. As an individual trader, it can be challenging to compete with these well-funded and experienced players.
7. Overtrading and Impulsive Decisions:When you're actively trading, it's easy to fall into the trap of overtrading and making impulsive decisions based on emotions rather than sound analysis. I've made impulsive trades driven by fear or greed, which only led to more losses.
8. Lack of Consistency:Consistency is key in trading, but it can be challenging to maintain. Even if you have a profitable strategy, it may not work consistently in all market conditions. I've experienced periods of success followed by prolonged losing streaks, making it difficult to stay motivated.
9. Hidden Costs:Trading involves various hidden costs, such as psychological costs and opportunity costs. The constant monitoring of charts, news, and market trends can take a toll on your mental, physical & emotional well-being. It can be exhausting to be constantly engaged in the market and trying to make profitable decisions. Additionally, the time and energy you devote to trading could be spent on other productive activities or personal pursuits that bring you more satisfaction and fulfillment.
10. Psychological Pressure:Trading puts significant psychological pressure on individuals. The fear of missing out (FOMO), fear of losing, and fear of making the wrong decision can all cloud your judgment. I've felt the psychological toll of trading, which can impact your overall well-being.

I’m not saying quit day trading, or you should not get into trading. While trading can be tempting and offer the potential for financial gains, it's very important to be aware of the risks and challenges involved. Based on my personal experience, I would caution against diving into trading without thorough knowledge, a well-tested trading plan and strategy, and a strong emotional resilience.