Why is day trading a bad idea? If one is constantly managing their own portfolio based on wins and losses, isn't it a good thing to be constantly on the ball?

That’s because majority of people don’t understand how the market works and what drives the market. If you do of course it’s great, I know many that consistently make big profits year over year, some for several decades.

Yet some will still say it’s market timing and the luck won’t last. Well I guess in everything not everyone will understand and those that don’t will find a way to affirm themselves

Hi anon,

If you are day trading, you need a trade plan and strictly defined exit and entry points.

The problem comes with emotion. You may have all your guidelines and such in place, but when you are staring at a trade gone wrong, it may be very difficult to press the sell button, especially when your conviction is still strong about your move.

In the end we are still humans and emotions will tend to affect our decision making.