Misconception and assumption plague every industry and job title. Until you do the work yourself or hear from someone who does, you might not even realize that what you think you know about a profession is misguided. No exception to the rule, there are plenty of unfounded beliefs about day trading perpetuated by those who don’t really understand it.
The potential for a large amount of profits in a short time period makes day trading an appealing profession (and sometimes even hobby) for many individuals. While the concept may sound simple, in reality it takes careful research, thoughtful strategy, and often a few months of experience to truly succeed as a day trader.
It’s easy to get caught up in the excitement of making quick moves on the market, which means it’s also easy to make mistakes that cost you big—literally.