Day trading stocks is no substitute for a real job

— -- Q: I can't find a job, so I'm thinking about being a full-time day trader. Good idea?

A: Absolutely not.

I'm guessing since you're looking for a job, you're not related to the Hilton family and don't have a couple of extra million dollars sitting in a Swiss bank account. In other words, you probably need cash to buy things like food and shelter.

Here's the funny thing about food and shelter: You have to pay for them no matter what. If the stock market plunges one day, you can't tell the clerk at McDonald's to give you a hamburger and you'll pay for it tomorrow, when the market bounces back. And your landlord probably won't be patient as you explain how your advanced options strategy is going to start paying off once the VIX (the Chicago Board Options Exchange Volatility Index) starts to rise. Your landlord will probably tell you to pack your VIX, and your couch, and get lost.

That's the trouble with trying to live off day trading — trying to make quick trades daily in financial markets to pile up small profits. Trading by its nature is highly speculative. Yes, it's true you might make some winning trades and score some money. And certainly, there are some day traders who have made a fortune. But for every success story in pitches for books, CDs and seminars, there are countless more traders who have lost everything.

Day traders will disagree, but day trading is essentially gambling. Would you consider moving to Las Vegas and playing the slots for a living? That's essentially what you're suggesting.

Day trading while you're looking for a job might actually make things worse, not better, for you. If you burn through your cash reserves while looking for a job, you will be in a bad spot. Keep looking for a real job.

Matt Krantz is a financial markets reporter at USA TODAY. He answers a different reader question every weekday in his Ask Matt column at money.usatoday.com. To submit a question, e-mail Matt at mkrantz@usatoday.com. Click here to see previous Ask Matt columns.