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.

[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.

[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.

[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.