So many people love to day trade either stocks, commodity or cryptocurrency, making money over buy and sells depending on short differences and changes in prices. There are a lot of trading platforms where people trade and a lot of people are planning to start trading but before doing doing this, you really need to get somethings straight.
Trading is not investing and it should not be considered as one. Investing is a long term decision to purchase a commodity, stocks, cryptocurrency and so on with the believe and intention that the value of the invested asset would increase over time but trading is a different ball game entirely. Day trading is a swing type of trading betting on the ups and the downs of the market and making accumulating profit and loss immediately the trading is over. I can say day trading could look like gambling.
Unlike investing, it has a high risk. Both investing and trading comes with risk, but for trading, you can lose all funds over a perpetual trade with high leverage. Its' risk is high as you have to bet on how high or low the market will go.
Trading requires a lot of tools like trading desk, market data, analytical tools and so on and the people who enjoy this money are people who are experienced, making it out of the inexperienced traders. Day trading should not be taking as a hobby, it should be taken as a full time job. You should not just start trading because you want to make money, it is advisable to start with a demo account and become an expert in it for at least 6 months before giving it a shot in the real market. Make sure you understand technical analysis at minimum, be able to read candle sticks.
One final note for anyone who is going into day trading and that is you need to be disciplined, never be greedy and look out for FOMO, do not let your trading be affected by emotions, let it be a matter of strategy. Also, over 70% of day traders lose their money but when you are trading with a strategy, you should make more wins than loss.
Greetings my friend @frederickbangs, in everything you say you are very right, day trading should not be considered as an investment, in the last few days I have read many articles in which they say that one of the biggest investments is in the coins this makes many people who do not understand the technology believe that the value of BTC is due to its scarcity invest everything they have and then when there is a market correction they lose all the money.