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Any Day Traders Here?
- Thread starter PPB
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A day trader is a trader who adheres to a trading style called day trading. This involves buying and subsequently selling financial instruments (e.g. stocks, options, futures, derivatives, currencies) within the same trading day, such that all positions will usually be closed before the market close of the trading day.
More specifically--Binaries for this conversation
More specifically--Binaries for this conversation
I knew a guy that had a construction related company and he spent his days staring at a computer screen day trading. He also had a plane and I heard he had a really nice boat at the beachhouse he had down in FL. Notice the word "had".
I do my own trading. I DON'T do 'day trading'. My wife and I decided to take a portion of our savings/retirement and do our own trading based on our own knowledge and homework. Killing our professional managed IRAs and Mutual Funds. Like pushing 75% in less than two years. But we have long term goals and we're sticking with it.
No. I pay attention to what's going on, educate myself on what effects the market and how, and generally stay with stocks of companies I'm familiar with and actually use. Long term is the goal, so not reacting every time there's a hiccup in the market is key. It's pretty simple, buy low, sell high. Trying to make "fast and easy" money is rarely either. I do like to purchase companies the pay dividends. Reinvest those dividends. I'm no expert but common sense has proved to be a critical skill thus far. Maybe we're just lucky.
I hate to stir the pot here but if Harvard educated physicists and literal rocket scientists that work on Wall Street every day for very long hours struggle to achieve higher than market risk adjusted annualized returns over a 10 year period then I very much doubt anyone spending there time here is. It’s hard to beat a simple S&P 500 index fund if all you’re looking for is growth over about a 30year period, just put a % of your paychecks in the index fund every pay period and be really happy in 30 years. Of course you want to diversify a little more and there are other liquidity and tax concerns to think about when you’re nearing retirement age but you’d still be way better off thigh that than 99.9% of amateurs that’s try to time the market.
There’s a reason that none of the famous hedge fund managers got even close to winning the bet Warren Buffet made.
I very much doubt that unless you are using information that is not currently calculated into the stock price and you trade on that imformation faster than others which could be illegal depending on the circumstances that many people at all are going to achieve above market risk adjusted returns over at least a 10year period.
There’s a reason that none of the famous hedge fund managers got even close to winning the bet Warren Buffet made.
I very much doubt that unless you are using information that is not currently calculated into the stock price and you trade on that imformation faster than others which could be illegal depending on the circumstances that many people at all are going to achieve above market risk adjusted returns over at least a 10year period.
I doubt that’s a winning strategy if you don’t know how to spell algorithm correctly
Just stick it in an index fund or if you want a chance for more upside (with an increase in downside potential) pick stocks and hold longer term. Trying to beat the market is pretty much impossible. Any information you come across is already baked in. The other problem is the transaction costs eating into profits(unless you are trading in rather large sums).
Either way keep us posted I'd like to hear how you make out.
Either way keep us posted I'd like to hear how you make out.
I am a complete novice. I like it and study it. The variables are immense. I put aside 5K to work with and see how it shakes out. Either way I will enjoy the journey. Stock market is dangerous. It can eat you quickly. Time is on my side and I will move slowly. It is like panning for gold. There will be a lot of empty pans to get one good nugget.
The biggest mistakes are being greedy and unwilling to sell at a loss Also being unwilling to sell at a profit because there’s more in it. Leaving some for next guy is not a loss.
Set your gain and loss parameters in your mind before you buy. And keep lots of baskets so to speak.
Set your gain and loss parameters in your mind before you buy. And keep lots of baskets so to speak.
There’s nothing wrong with that as long as you admit to yourself what you’re doing is basically like sports gambling and you’re doing it for fun which I would argue most people would be better off with if you’re picking individual stocks. Don’t think the odds are on your side at beating a simple S&P 500 index fun over 10 years. Not really my idea of a good time but different strokes for different folks.
You should probably do some research on "Stop Sales" and "Shaking out Weak Hands". Very instructive as to the shark like behavior of Wall Street.
Buy registered "machine guns" and win no matter what the markets do. Worst case, the gov legalizes FA.
watch Trump get rid of patent -protections and end the scam of the USA financing new drugs for the rest of the world, I would get out of pharma.
That is true. Pot stock shot to the moon a few years ago. They leveled off. Wynn Dixie and Tops just filed for bankrupt protection so that should boost the other chains Have to see what is cooking
We could swap some good stock tips here and make a lil extra ammo money.
We could swap some good stock tips here and make a lil extra ammo money.
Good stock tips become bad stock tips when everyone knows about them. Also folks on the message boards will tell you buy this stock, so they can sell it. Called pump and dump.
The two easiest ways to lose friends...take sides in a marital dispute or divorce and giving stock tips.
People have succeeded in day trading but far more have failed.
The two easiest ways to lose friends...take sides in a marital dispute or divorce and giving stock tips.
People have succeeded in day trading but far more have failed.
When I spoke to my mentor about my "experiment", this is nearly verbatim what he said.
Until the Fed decides it's 'legal' and banks start accepting marijuana money, I'd steer very clear. I don't believe there's one legitimate marijuana investment available unless you're opening a dispensary in a 'legal' state. Even then all you can do is store your cash in a warehouse trying to figure out how to spend $10K at a time.
This is what I tell everyone about the whole marijuana business, the banks won't touch the money. This seems to be something very few people realize. Once I point that out and they realize how much cash has to be laying around the light bulb generally goes off
I am not interested in pot stock simply for moral reasons.. Not a big fan of the industry. I do try to learn something from each category.
My interest is in 5 minute and 20 min and 2 hour stock exchanges. This is mostly for entertainment purpose with a 5% hope of gaining some vacation money. I don't think for a sec that I am savvy enough to get yacht money with this method.
I know that some of you guys are very cleaver when it comes to this so I enjoy your input to this thread.
My interest is in 5 minute and 20 min and 2 hour stock exchanges. This is mostly for entertainment purpose with a 5% hope of gaining some vacation money. I don't think for a sec that I am savvy enough to get yacht money with this method.
I know that some of you guys are very cleaver when it comes to this so I enjoy your input to this thread.
Dunno, but I'm 'involved' in Commercial Finance, and if there's a lot of this shit going on, and I know about it, I only become more conservative. If a guy wants to have more money, the best strategies involve not trying too hard to lose what he already has.
I have spent some time investing.
I used to buy stocks of companies that I personally knew people that worked for them.
This and some timely reading made a fair percent return.
Did better than my local investment "gurus" suggestions most of the time.
Could have been lucky.
R
I used to buy stocks of companies that I personally knew people that worked for them.
This and some timely reading made a fair percent return.
Did better than my local investment "gurus" suggestions most of the time.
Could have been lucky.
R
I made 34% last year gambling on the stock market with a Scottrade account. My financial advisor made me 18%. It could have just as easily gone the other way, losing the same amounts. If you are doing this for a living, best of luck. Any one could have made money with the year we had last year.
Eddie
Eddie
I day trade oil and silver futures via Thinkorswim (TD Ameritrade). I also trade volatility. This is all in addition to IRA and long term investing in my regular brokerage account.
I like day traiding and gambling but I'm not a great fan of it. For me it's just an other interesting way of spending my free time, smth like a small hobby, I've never been obsessed with it. I like to buy lottery tickets time till time, however I've never been lucky with them. It's the same with various sport bettings but this type of gambling is really a rare thing in my case
I adore playing different card games with my friends, we rather often play poker, whist etc. on weekends but considering that it's a totally friendly game for us, we never use money as a prize. It's just interesting and very fun, besides it's almost only one type of gambling where you can improve your skills and become a better player. All other types are total luck and it's funny to see how some people hope for winning smth big in that way
I tried casinos too, I was in real ones several times and I played online ones https://casinos-top-online.co.uk/ too. I liked slots and blackjack the most of all, I even won money two times and that was cool. I think that it's ok if you're such a small player as I, gambling is rather often considered as a very bad thing but in my opinion if you can control yourself easily, there's nothing scary in it.
I adore playing different card games with my friends, we rather often play poker, whist etc. on weekends but considering that it's a totally friendly game for us, we never use money as a prize. It's just interesting and very fun, besides it's almost only one type of gambling where you can improve your skills and become a better player. All other types are total luck and it's funny to see how some people hope for winning smth big in that way
I tried casinos too, I was in real ones several times and I played online ones https://casinos-top-online.co.uk/ too. I liked slots and blackjack the most of all, I even won money two times and that was cool. I think that it's ok if you're such a small player as I, gambling is rather often considered as a very bad thing but in my opinion if you can control yourself easily, there's nothing scary in it.
i have been active day trading for about 6 months and it's going very well. I'm considering actually leaving my job. No joke!
I use a funded account through Tradenet. Very solid platform and they have plenty of stocks to short which is a benefit. you can't trade options or pre/post market hours so that is the only con. They keep 15% of all net proffits and charge $0.006 per share which is very good. they have different level programs but i'm now on the highest one which gives me $240K worth of buying power. the other added benefit is they don't have to adhere to the PDT rules so that is a big plus.
It takes a while to get use to and you need to know how to read charts/trends. I'm still working a full time job but i have a flexible schedule and work from home so i try to trade the first 60-90 minutes of the market being open and then go do my regular job. once you get use to things and get comfortable it is not hard at all to make a quick $400-500 a day in the first hour of the market being open. I originally started doing it as a side gig for some gun money but once i found what worked for me and started doing better i've started to take it more seriously.
I use a funded account through Tradenet. Very solid platform and they have plenty of stocks to short which is a benefit. you can't trade options or pre/post market hours so that is the only con. They keep 15% of all net proffits and charge $0.006 per share which is very good. they have different level programs but i'm now on the highest one which gives me $240K worth of buying power. the other added benefit is they don't have to adhere to the PDT rules so that is a big plus.
It takes a while to get use to and you need to know how to read charts/trends. I'm still working a full time job but i have a flexible schedule and work from home so i try to trade the first 60-90 minutes of the market being open and then go do my regular job. once you get use to things and get comfortable it is not hard at all to make a quick $400-500 a day in the first hour of the market being open. I originally started doing it as a side gig for some gun money but once i found what worked for me and started doing better i've started to take it more seriously.
Lockheed Martin just got some large awards. Curious to see where it goes from here.
Boeing just got an award to build a bunch more jets.
Exxon took a crap.
Gun stocks don't make sheeeyit.
Coke is getting sued. Pepsi is better.
Day trading is very expensive. It is like shooting a Barrett every afternoon for 2 hours.
Pickle Bunny Futures up 112%
Boeing just got an award to build a bunch more jets.
Exxon took a crap.
Gun stocks don't make sheeeyit.
Coke is getting sued. Pepsi is better.
Day trading is very expensive. It is like shooting a Barrett every afternoon for 2 hours.
Pickle Bunny Futures up 112%
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