You're on your lunch break mindlessly scrolling, and you see a finance guru showing off his brand new neon yellow Lamborghini on Instagram. He claims he got it through day trading, but the best part? He’ll teach you exactly how he did it!

Spoiler: he’s not a profitable day trader, and the car is rented. His real income derives from $500 courses on YouTube. 80% of day traders give up in the first 2 years. But the reality isn't all that grim, it’s just different than what you’ve been told.

Day trading is a real profession, and by keeping markets liquid and reactive to key events, day traders serve a vital part of the economy. A day trader is someone who buys and sells multiple stocks within the same day. There are many different types of roles a day trader can play. They can choose to work at a large financial institution to manage larger amounts of capital, or work on their own and manage their own money. The latter allows them to enjoy more freedom but keeps them locked out of the powerful insights (like advanced algorithmic data and direct market access) that day traders at larger institutions can get in on.

Both of these positions are serious roles and require a strong financial acumen. Day traders must spend a lot of time researching and staying up to date with changing markets. The role is not easy, and is by no means a get-rich-quick scheme. This is why actual day trading is not a scam. Less than 10% of people who begin day trading actually succeed in becoming consistently profitable, and the people who do often find themselves completely transitioned into someone with more financial intelligence, strict discipline, and a deep understanding of the seriousness of financial markets.

So if you still find day trading intriguing, then by all means go ahead and try starting with a risk-free paper trading account. The college degree you're pursuing right now may also make you a great fit for the position in the future! Most day traders who are employed in competitive financial institutions hold some type of quantitative or business administration degree, giving them the foundation needed for complex valuation and risk management.

So next time you see some finance guru promising you a free ticket out of your day job, just know that if he had the secret to beating the market, he wouldn't be selling it to you for $500 on the internet.