26: Why Day Trading Is Like Gambling and Long Term Investing Is Queen

<p>🎙 Day trading is often seen as a way to get rich quick. But it’s almost impossible to day trade your way to a million-dollar retirement, especially with the effects of emotional investing and stock market sentiment. So, why does it seem like it’s the winning lottery ticket you’ve been waiting for? Why does it go wrong? And why is long term investing the better strategy? 🤔</p> <p><strong>This episode discusses topics like:</strong></p> <p>🌟 What day trading is and why most people who try day trading end up losing a lot of money;</p> <p>🌟 How emotional investing impacts the stock market as a whole and your personal wealth; and</p> <p>🌟 Why long term investing is the better way to get rich.</p> <p><strong>Links from this episode:</strong></p> <p>Episode transcript and show notes: <a href= "https://www.papermoneyco.com/26-emotional-investing-stock-market-sentiment"> https://www.papermoneyco.com/26-emotional-investing-stock-market-sentiment</a></p> <p>Sign up for my free Masterclass: <a href= "https://www.papermoneyco.com/masterclass">https://www.papermoneyco.com/masterclass</a></p> <p>Day Trader definition: <a href= "https://www.investopedia.com/terms/d/daytrader.asp">https://www.investopedia.com/terms/d/daytrader.asp</a></p> <p><strong>Time codes:</strong></p> <p>00:00 Hello and Welcome!</p> <p>02:52 What Is Day Trading?</p> <p>04:03 Supply and Demand Inefficiencies in Day Trading</p> <p>08:21 Sponsor - FIRE and Investment Calculator Spreadsheet</p> <p>10:16 Day Trading vs Long Term Investing</p> <p>13:13 Why Do People Day Trade?</p> <p>14:21 Next Weeks’ Episode</p> <p><strong>Remember to:</strong></p> <p>Join our exclusive community by becoming a Patron: <a href= "https://www.patreon.com/girlonfirepodcast">https://www.patreon.com/girlonfirepodcast</a></p> <p>🤩 Subscribe so you don’t miss any future episodes.</p> <p>🏆 Rate and review the show on Apple Podcasts: <a href= "https://www.papermoneyco.com/podcastreview">https://www.papermoneyco.com/podcastreview</a></p> <p>Podcast reviews are crazy important to the iTu