Can Day Trading Be A Viable Career?


I'm in my early 20s and in a situation where my parents are willing and able to support me for many years into the future, and I'm wondering if becoming a day trader is a viable career to pursue, or if I should go back to school instead. I would be willing and able to dedicate six to eight hours per day studying and practicing day trading, in hopes of eventually becoming profitable. The goal would be to make enough year after year to live comfortably on my own and afford any expenses.

I know the odds of being profitable long term from day trading are low, but I'm pretty sure the odds are a lot better then a purely creative pursuit like being an author, which would be my dream occupation. Same when you compare it to something like being an actor or singer. The chances of those are likely less then one percent whereas it seems the chances of being a successful day trader are more like five to ten percent if you're willing to fully dedicate yourself to it. If I can prove that I'm profitable long term I have access to at least $100,000 to trade with and as far as I'm aware there aren't any account minimums in Canada.

Writing is something I could do for a few hours every evening and probably still make a go at it, but from the research I've done day trading works a lot better if you're fully committed. If I don't go the trading route then my plan is to go back to school for something IT related as I enjoy tech and problem solving. I would still much rather be a day trader though as I can set my own hours, not have a boss, and learn at my own pace. With everything said how viable is a career as a day trader and is it something I should try and pursue?

 

TL;DR – I have the ability to dedicate myself fulltime to learning day trading I'm wondering if it's a viable career. The goal would be to become profitable long term, and consistently make enough to live comfortably on my own. If I can prove that I'm profitable I can access at least $100,000 to trade with. Even though the odds are low they seem a lot better then a purely creative pursuit like writing, acting, or singing. Day trading is something that works a lot better to focus on completely if you want any chance of making it work. I don't think I would be able to go to school fulltime for a challenging degree and try to succeed at day trading as well.


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