Many places i have read that day traders cannot make consistently. why so?

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many places i have read that day traders cannot make consistently. why so?

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Because they are pure gambler in a sophisticated way. They think that stock market is a Big Casino. They don’t have goals in their life they income money for fun. This Market also not foolish it punishes them time to time.

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so what’s the correct method to make money?

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How Warren Buffet, Charlie Munger, Peter Lynch, Mohnish Pabrai, Aswath Damodaran, Joel Greenblatt, Rakesh Jhunjhunwala, Ramdeo Aggarwal, Porinju Veliath, Dolly Khanna, Vijay Kedia became billionaire?? Answer just resides inside that question. Anyway I have not written that comment to insult any trader, it is just an illusion that traders think that’s the only way to make money in the market. Sorry if I have hurt anybody unintentionally.

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Day traders generally do not make money consistently because generally the losses are bigger than the profits. Traders generally lose because they do not keep risk reward more than 1:2 that means for every trade max profit is 2 times the max loss. Brokerage and tax eat into our profits and adds up into our losses. Having no discipline is also the reason for higher losses. Over trading is also responsible for inconsistency in generating the profits.

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