It is my belief that day trading requires a huge change in mindset. A major shift of perspective.
When I first started dabbling in the market, my sole aim was “not to lose”.
I suspect this is the same for the majority of retail investors/traders out there.
It’s hard to wrap your head around the idea that it is perfectly OK to lose.
In fact, not only is it perfectly OK to lose, you have to be prepared to lose often.
For serious day traders, I believe that the correct mindset should be “aim to make more in all your wins than what you lose in all your losses”.
Mindset of most people in the market: “I aim to not lose.”
Mindset of a day trader: “Over a large number of trades, my overall profits have to be greater than my overall losses, thus netting a nett profit.”
I’ll leave you with this tweet which sums it up really well:
I Don't Have A Course To Sell 