anyone day trade?

[mogulgangi]

god dammit there is soo much money to be made..ebola stocks are soaring ..it takes real balls to hold stock while its down..anyone here have success?

[sync pulse]

I traded commodities when i was 23 one year.  I used Clayton Brokerage in their Houston office on Westheimer just past the Galleria.  I did turn a small profit.  When i added up how much time I spent doing it compared with my gains...it was less than minimum wage.

[polychronopolous]

god dammit there is soo much money to be made..ebola stocks are soaring ..it takes real balls to hold stock while its down..anyone here have success?

Those actually exist!? 

God damn, I am out of the loop it seems!

[Coach is Back!]

What's an Ebola stock?

[FermiDirac]

What's an Ebola stock?

Probably high risk grassroot bio companies

[anabolichalo]

actually day trading successfully would require you to have one day ahead cristal ball?

[FermiDirac]

actually day trading successfully would require you to have one day ahead cristal ball?

Not really, you just need the fastest route to the stock exchange servers and the best trading algorithm.

[The True Adonis]

Not really, you just need the fastest route to the stock exchange servers and the best trading algorithm.

Using a metronome is usually the best way to stay in rhythm.

[Coach is Back!]

Not really, you just need the fastest route to the stock exchange servers and the best trading algorithm.

Is that difficult? Being serious.  I've often thought about this.

[pedro01]

god dammit there is soo much money to be made..ebola stocks are soaring ..it takes real balls to hold stock while its down..anyone here have success?

I day trade futures.

It's a trickier proposition for most traders when it gets really volatile like this. They are just as likely to lose more money than make more.

You need to take a lot more risk because of the additional volatility.  If you are used to scalping ticks off the treasuries and suddenly the liquidity drops 70%, then you can't expect to suddenly be taking 30 tick trades.

If this sort of thing isn't your game, it's better to stand aside till it calms down. If you think this is the time so start daytrading looking at all them dollar signs - you are probably going to lose a fair amount of $$$.

[pedro01]

Is that difficult? Being serious.  I've often thought about this.

Day Trading is a game.

Think of it like a competitive sport.

You don't need lightning fast connections. I trade with 330ms latancy from the exchange. Makes no difference in the grand scheme of things.

You don't need algorithms or automation. In fact, that is the route most people want to take because they just don't want to make a trading decision - they want some black box to do it for them.

There's a long & illustrious line of excuses traders use for losing money. For a while HFTs have been the latest in a long line of excuses for people losing money trading. Just recently (Sept 15th), the CME tightened up on market regulations related to short term manipulation and all of a sudden traders are up in arms that "this is going to hurt us" because of the reduction in liquidity.

It's a game, it's gambling, you can make money but the chances are you won't.

[jr]

I used to, until I got "stuck" with shares that lost value quickly.

I never used stop losses.

I was consistently making profits using my methods which was a combination of somtimes fundamental analysis, and technical analysis.

The technical analysis tools I used was basic indicators, chart patterns e.g. "head and shoulders", and volume spread analysis in combination to make a trade decision.

You'd often find that market tops and bottoms coincide with huge volumes of shares traded. This is when the "herd" arrives and are lead to slaughter by the insiders. This is where it pays to learn about volume and hi low close spread analysis.

The biggest mistake I made was reading internet stock forums and all the bullshit people spout on there instead of following my own techniques and ignoring everyone else. I fell in love with the stock thanks to overenthusiastic uprampers on the forum. Big mistake.

Unfortunately the underlying commodity lost a lot of value and therefore the share price followed. And to think that I had made a quick 10% or so profit on these shares before being brainwashed by internet stock trading experts and decided for the first time to actually hold onto shares for the long term.

Anyway I am confident I will break even as the company progress is going good and the mining explorer should eventually become a producer. But in the mean time I've lost 3 years of trading opportunities.

Thanks for reading my story.

[FermiDirac]

Day Trading is a game.

Think of it like a competitive sport.

You don't need lightning fast connections. I trade with 330ms latancy from the exchange. Makes no difference in the grand scheme of things.

You don't need algorithms or automation. In fact, that is the route most people want to take because they just don't want to make a trading decision - they want some black box to do it for them.

There's a long & illustrious line of excuses traders use for losing money. For a while HFTs have been the latest in a long line of excuses for people losing money trading. Just recently (Sept 15th), the CME tightened up on market regulations related to short term manipulation and all of a sudden traders are up in arms that "this is going to hurt us" because of the reduction in liquidity.

It's a game, it's gambling, you can make money but the chances are you won't.

What you say is 100% correct. It's just that day trading without trading algorithms is usually closer to gambling of luck and skill rather than having a non subjective manner of deciding positions.
Stocks are martingales.

[Coach is Back!]

Day Trading is a game.

Think of it like a competitive sport.

You don't need lightning fast connections. I trade with 330ms latancy from the exchange. Makes no difference in the grand scheme of things.

You don't need algorithms or automation. In fact, that is the route most people want to take because they just don't want to make a trading decision - they want some black box to do it for them.

There's a long & illustrious line of excuses traders use for losing money. For a while HFTs have been the latest in a long line of excuses for people losing money trading. Just recently (Sept 15th), the CME tightened up on market regulations related to short term manipulation and all of a sudden traders are up in arms that "this is going to hurt us" because of the reduction in liquidity.

It's a game, it's gambling, you can make money but the chances are you won't.

Interesting. I have to look further into this.

[FermiDirac]

Is that difficult? Being serious.  I've often thought about this.

Yes, because usually the banks are the fastest and the best at this form of trading. Day traders are more or less vultures, last in to the party and picking off the leftovers.

Although, HFT is a very interesting subject
http://en.wikipedia.org/wiki/2010_Flash_Crash prime example of what could go wrong when you apply control theory to a financial system

[Coach is Back!]

fuck from here you illiterate midgate

You speak English guy? If so, try it.

[jr]

Interesting. I have to look further into this.

You will need to spend at least a year if not longer of constantly observing how markets behave, before you can even begin to think about trading.

Markets tend to behave in ways that are illogical to newbies, for example a big sell off and drop in price of shares soon after good news is released by the company. The simple explanation is that those in the know were anticipating good news in the future and were buying before hand which slowly moved the price higher over time, once the good news is released they dump all their shares to the clueless excited newbies who buy shares on good news.

[Griffith]

I've been looking into forex trading.

Simply by following the live rate charts of a particular cross currency combination I think I'm learning quite a lot.

I'm also reading books on financial markets, international finance and economics.

[affeman]

Day trading is just another tool for the redistribution of wealth from the lower to the upper class. I don't know anyone who's been trading for a longer period of time and made profit in the end.

The lil guy always loses in the long run, the rich guy always wins in the long run.

[Thin Lizzy]

Some good posts, here.

I would argue that the primary reason individual day traders get cleaned out is that they are dramatically undercapitalized. Guys with 25k and a PC think they can make a living Day Trading. This leads to the taking of oversized positions in relation to bankroll, and, when the inevitable losing streak comes, they get in too deep of a hole from which to crawl out.

At this point, resumes for a real job are sent out.

[FitnessFrenzy]

in my country, we have a guy with no education making a lot of money day trading. I don't know what the requirements are to be successful at it, but his success makes me ponder this issue.

[JBmadera]

full time commodity futures trader.  primarily use market profile and price action. not an easy way to make a living but at least I get to wear my bathrobe all day.

[SaintAnger]

Why fuck around with something so risky?  Sounds like a "job" for adrenaline junkies or gambling addicts looking for action.

I'd rather start a small home business (see: Caliber Fitness Solutions).

[BayGBM]

What's an Ebola stock?

They can fall into several categories.  Here's one example:

Lakeland Industries Inc. (LAKE)
Alpha Pro Tech Ltd. (APT)
Versar Inc. (VSR)

[BigCyp]

Sorry thought this was about the gay trade, im out.