Someone recently asked me: “Do you need to be a good day trader to be successful at investing?”Simon Letch
The skills you need to drive your car to work, the kind of vehicle you need, the training needed, the risk involved – everything is different. They’re completely separate activities that happen to both involve driving a car. Since their objectives and reasons for buying an asset are different, the kinds of assets a day trader will buy will be totally different to the kinds of assets an investor will buy.
Day trading is not a set-and-forget endeavour. You have to keep an eye on the ball. There is a lot more ongoing work involved. It’s a constant process of buying and selling.On the other hand, when you invest a lot of the work is done upfront when selecting your investments and designing your portfolio.
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