anyone day trade?

[Archer77]

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.

In high school in the mid-90's I had a teacher who traded stocks all day on his computer even in class. I asked him about it once and he explained what he was doing.  

[The Onion]

Very few people succed with daytrading - it's NOT something that you simply "look into" and start doing.

Success doesn't only require an intellectual capacity to understand A LOT of information in very little time but it also requires that you have a type of emotional stability that is very rare. You also need a genuine interest in both economics and psychology - your own and others.

To ask a question about daytrading in hopes of making a quick buck, without having years of theorethical knowledge and practical investing experience, is just a testament that you have no idea what it's all about and that you should stay away.

With that said, losing money is a great way when it comes to determining if you have the right temperament for daytrading. You'll need to read, read, read, every day but you also need to do a lot of trades - both successful and not successful ones - and keep on learning and improving.

It's good if you have a big pile of money for "educational purposes" and be comfortable with not just the thought but also the reality of losing it.

[forillagorilla]

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.

All the poor have to do is - STOP being poor!

[pedro01]

In high school in the mid-90's I had a teacher who traded stocks all day on his computer even in class. I asked him about it once and he explained what he was doing.  

Without a doubt, the guy was losing money.

You don't need a ton of knowledge to day trade. Fundamental and technical analysis dont help too much.

I could show a technique that is fairly reliable at seeing where traders are positioned and prices that will be defended. I regularly (twice a week) go over the action live to a bunch of traders and i'll call out those areas of interest and time-permitting will walk through what is occuring when we get there.

I do this for free. This is not the style of trading most retail traders follow. Its prop shop techniques.

People are often in awe of how accurate the calls are.

But you know what? Even knowing how this all works, which prices are significant & why - that still wont turn most people into profitable traders.

Its just one layer of the onion...

[The True Adonis]

What if we started a Getbig Collective Trading Company where everyone puts in a small amount of money and then we all vote on what to trade for the day.  We can organize it with Pedro at the top.  Then we share the profits equally but require a certain percentage to be reinvested in the pool.

[FermiDirac]

All the poor have to do is - STOP being poor!

"Let them eat cake"

[pissant]

LOL you never find a rich technical trader or day trader.


Look at the richest men in the world. NONE of them day trade.

They are either:

A. Investment mangers of some sort

B. Business owners

C. Investors

D. maybe the rare media mogul/pro athlete/musician

Have fun loosing all your cash though!

[mogulgangi]

Probably high risk grassroot bio companies

Cmrx, tkmr, vsr, ibio, apt, lake

All have soared, have huge price trends, and now are about to flop...very low floats, horrible company fundamentals yet still soaring

[mogulgangi]

LOL you never find a rich technical trader or day trader.


Look at the richest men in the world. NONE of them day trade.

They are either:

A. Investment mangers of some sort

B. Business owners

C. Investors

D. maybe the rare media mogul/pro athlete/musician

Have fun loosing all your cash though!

You must of forgotten about hedge fund managers...the single highest paid position in the world

[denarii]

david einhorn is reopening, why dont you offer him your $5k of savings?

[Vince G, CSN MFT]

Day Trading is a waste of time and quite dangerous for an untrained monkey.  You would be better off dropping coins in a slot machine at the casino. 

[jude2]

You must of forgotten about hedge fund managers...the single highest paid position in the world

This is sad because 80-90% of these jokers can't even beat the S&P index fund.

[anabolichalo]

a lot of shitty stocks go up and down 20 percent in a day

imagine the profits some masterful day traders can make

 

[visualizeperfection]

What makes the difference in a good day trader?

Luck?

Work ethic?

Intelligence?

[anabolichalo]

What makes the difference in a good day trader?

Luck?

Work ethic?

Intelligence?

isider knowledge i think

?

ceo's tradin their own stocks lol

[jr]

a lot of shitty stocks go up and down 20 percent in a day

imagine the profits some masterful day traders can make

 

Those stocks the go up and down 20% in one day are thinly traded with very few buyers and sellers in the market depth. If you try to take a position in these stocks, lets say by buying $10,000 worth on market, this act alone can drive the share price up 5, 10, 20%. When you try to sell the same thing happens to the downside.

How people make money on these volatile stocks is slowly accumulate stock over a long time when the price is low, wait for the company to release good news and dump the stocks during the subsequent high volume buying frenzy

[jr]

Those stocks the go up and down 20% in one day are thinly traded with very few buyers and sellers in the market depth. If you try to take a position in these stocks, lets say by buying $10,000 worth on market, this act alone can drive the share price up 5, 10, 20%. When you try to sell the same thing happens to the downside.

How people make money on these volatile stocks is slowly accumulate stock over a long time when the price is low, wait for the company to release good news and dump the stocks during the subsequent high volume buying frenzy

Here's an example of a stock that's volatile and thinly traded where these techniques are used. You need patience, its not really day trading. More like year trading.

[anabolichalo]

Here's an example of a stock that's volatile and thinly traded where these techniques are used. You need patience, its not really day trading. More like year trading.

fucking amazing

this seems to imply these stocks only rise and fall based on speculation and volume, not actual value

?

[jr]

fucking amazing

this seems to imply these stocks only rise and fall based on speculation and volume, not actual value

?

Usually they rise when they release news that implies that they have a potential profitable business in future.

In this case the company was a mining explorer which discovered a large deposit while the commodity prices were high.

But having a large mineral deposit is useless if you can't mine or sell it as this requires the company to source large amounts of investment dollars in order to build mining infrastructure, etc.

Then you need end users to sell the product to.

This company is currently in the process of securing funding, investors and end user agreements in order to build a mine. The price is low due to the uncertainty of this. Once this in in place the price will rocket up again. If not the share price will dwindle down to a cent or less as the company is essentially worthless, making no income and yet still needing money to pay its employees. It needs to get this money by issuing additional new shares to the market (capital raising), which dilutes existing shareholders and pushes the price lower.

So yes its all speculation and a calculated bet when buying these types of companies.

[Thin Lizzy]

What makes the difference in a good day trader?

Luck?

Work ethic?

Intelligence?

Ironically, brainiac types have a reputation for being bad traders/investors.

Why?

Because they're used to getting all the answers right on tests, but, in a situation like trading where judgement is required, they have a hard time admitting they were wrong and, as a result, stay in losing trades too long.

[FermiDirac]

Here's an example of a stock that's volatile and thinly traded where these techniques are used. You need patience, its not really day trading. More like year trading.

Gives me the impression of a "pump and dump" stock.

[Thin Lizzy]

isider knowledge i think

?

ceo's tradin their own stocks lol

Day traders trade small price fluctuations. It has virtually nothing to do with the value of the company.

Most of the big moves occur before or after the bell, a recent example being Netflix which dropped 20% after hours as a result of some disappointing numbers.

[Mr Anabolic]

LOL you never find a rich technical trader or day trader.


Look at the richest men in the world. NONE of them day trade.

They are either:

A. Investment mangers of some sort

B. Business owners

C. Investors

D. maybe the rare media mogul/pro athlete/musician

Have fun loosing all your cash though!

Many of them are failed day traders.

What happened over the past 3 weeks is just a warm up.  Nothing goes straight down and there will be rallies along the way, but the coming market crash will astonish even the most ardent bears.

[jr]

Gives me the impression of a "pump and dump" stock.

It looks like it but not really.

The first good news was that the company had found something during their drilling.

The second good news happened after drilling was complete and data was released on the exact composition of their find.

This is the standard chart pattern of a junior mining exploration company becoming a producer.

It's currently in the orphan period.

[denarii]

It looks like it but not really.

The first good news was that the company had found something during their drilling.

The second good news happened after drilling was complete and data was released on the exact composition of their find.

This is the standard chart pattern of a junior mining exploration company becoming a producer.

It's currently in the orphan period.

isnt every mining stock in the orphan period