Wont Be Around Much For Awhile: Day Trading Courses

[Palumboism]

That won't work my friend.  You won't be able to do more than 4 and then you're cut off.  This is a legal requirement.

For day traders in the U.S., the legal minimum balance required to day trade stocks is $25,000. If the balance drops below that level, day trading isn't allowed until a deposit is made bringing the balance above $25,000.

I think Vince is going to be swing trading.  As long as he doesn't buy and sell the same stock on the same day he should be fine, but he should be familiar with the laws you posted.  I surprised that's an actual law.

[bhank]

True.  I think the certificates should be equal distances from each other right?

At least it isn't wood paneling and worn out couches like in bhankys office.

I actually have real degrees on my wall and 6 monitors there is no wood paneling in my office

The other posters are correct you can't make money day trading 10k even if you make a 100% annual return that is still only 10k in income for a year worth of work. Also you need to have a margin account so you can go in and out the same day vs waiting for settled funds and you need to understand leverage when and how to use it.

[IroNat]

I actually have real degrees on my wall and 6 monitors there is no wood paneling in my office

The other posters are correct you can't make money day trading 10k even if you make a 100% annual return that is still only 10k in income for a year worth of work. Also you need to have a margin account so you can go in and out the same day vs waiting for settled funds and you need to understand leverage when and how to use it.

Vince understands all that stuff completely.

[Humble Narcissist]

I actually have real degrees on my wall and 6 monitors there is no wood paneling in my office

The other posters are correct you can't make money day trading 10k even if you make a 100% annual return that is still only 10k in income for a year worth of work. Also you need to have a margin account so you can go in and out the same day vs waiting for settled funds and you need to understand leverage when and how to use it.

You are right, it is way harder than people think.

[IronMagazine.com]

Vince is the next Elon Musk, he actually spoke to Elon and gave him advice on buying his new $50k box house after he got off the phone with Singerman who he gives business advice to.

[IroNat]

Do your research before investing money, Vince.

Getbig is worried about you.

[IronMagazine.com]

Do your research before investing money, Vince.

Getbig is worried about you.

He Googled it and now is an expert.

[Maxwell Smart]

Not a financial expert but I've beat Warren Buffet and Cathie Wood on yearly returns for the past 2 years.  What has helped me make money even when the market trades sideways is doing covered calls and puts.  Every single week. 

Usually you are only making 1-1.5% on you money but spread that out over a year and it's 52-78% yearly return.  As low risk as you possibly can get.  Strangers put money in my account for premium every single week. No way would I day trade.  You will lose every penny you have.  Swing trading is a little different but you need tons of money and even then could lose it all.

There's no get rich quick scheme in the market or every one would be doing it.  Pick a growth company and just let it sit there.  Tesla will be 4000 a share by 2024.  It's trading at 818 today.  It will even be 1000 or more by Christmas.  Easy money.

[Humble Narcissist]

Not a financial expert but I've beat Warren Buffet and Cathie Wood on yearly returns for the past 2 years.  What has helped me make money even when the market trades sideways is doing covered calls and puts.  Every single week. 

Usually you are only making 1-1.5% on you money but spread that out over a year and it's 52-78% yearly return.  As low risk as you possibly can get.  Strangers put money in my account for premium every single week. No way would I day trade.  You will lose every penny you have.  Swing trading is a little different but you need tons of money and even then could lose it all.

There's no get rich quick scheme in the market or every one would be doing it.  Pick a growth company and just let it sit there.  Tesla will be 4000 a share by 2024.  It's trading at 818 today.  It will even be 1000 or more by Christmas.  Easy money.

What happens when the market tanks?

[Les Grossman]

What happens when the market tanks?

As Jay-Z once said…”ride or die!”

[IronMagazine.com]

What happens when the market tanks?

We all go to Vince's house.

[Notomorrow]

Be very careful when dealing with day trading, or any stock/option, etc trading as many "experts" are part of a system that boosts up stocks with false information for the little guys to buy in order to crank up the price as they are planning to dump something, and vice versa. Learn how to read charts yourself, and analyze information, good for you for taking a course.

[Maxwell Smart]

What happens when the market tanks?

Not worried.  It has always recovered and always will.  If someone is scared then sell.  It's only an unrealized loss if you don't sell.  I didn't when the market tanked in March 2020, just bought the dip.  I'm actually up 850% for the past 12 months.

I do covered calls and puts but other things as well.  Have my long term stock like Tesla which I'm in at $89 dollars and do a few swings.  I'll buy my options back 2 or 3 times a week and resell.  Tesla is selling at 850, up from 818 when I first posted a few days ago.  Will be over 1000 by Christmas.  More likely 1200.

But worrying about the market tanking is the least of my troubles.

Game changer when you could start trading practically for free via TD Ameritrade, Webull, Robinhood etc.  I executed over 5000 trades in 2020.  If I had to pay a broker to do that I probably would have been ion the negatives, LOL.

Also the worse thing you can do with your cash is put it in savings.  100 dollars today will be worth 96 dollars or less due to inflation.

[Palumboism]

Game changer when you could start trading practically for free via TD Ameritrade, Webull, Robinhood etc.  I executed over 500 trades in 2020.  If I had to pay a broker to do that I probably would have been ion the negatives, LOL.

Also the worse thing you can do with your cash is put it in savings.  100 dollars today will be worth 96 dollars or less due to inflation.

You bring up a good point.  I've notice most of my trades have been commission free on Etrade.  Not having to pay to make a trade means people will be much more active in their trading styles.  I know it's changed my trading style regarding how I scale in and out of positions.  Also being able to make trades on your phone also brings more people in the market.




 

[Maxwell Smart]

You bring up a good point.  I've notice most of my trades have been commission free on Etrade.  Not having to pay to make a trade means people will be much more active in their trading styles.  I know it's changed my trading style regarding how I scale in and out of positions.  Also being able to make trades on your phone also brings more people in the market.

I remember the pain in the ass way you had to call up your broker to make a trade.  Looking at the stock prices in the newspaper each morning hoping the stock went up.

Big Wall Street hates that even teens can do this now and know the price in a split second via their phone.

Had to go back and edit my post.  I meant to type 5000 trades last year. LOL. I'm not an expert on the market at all but have learned a lot the past 24 months that Ive been doing it daily.  But the best strategy is buy a good growth stock and don't even look at it everyday and never sell when it pulls back.  If I had sold Tesla when it dipped to 595 from 900 I would have lost a ton.  I held and it's less than 4% off it's all time high now.

I don't care about EV's at all but I do want to make money.  Tesla will be 4000 by 2024 simply due to their numbers and things they have coming down the pipe.  Berlin Giga-factory opened next month, Austin Giga-factory opens in Dec, Cybertruck, solar, AI, insurance, batteries, 25K EV for the masses.  Will be the biggest company in the world by a factor of 10 within the decade.  Making Apple look like the corner Mom and Pop store, LOL

[Humble Narcissist]

Not worried.  It has always recovered and always will.  If someone is scared then sell.  It's only an unrealized loss if you don't sell.  I didn't when the market tanked in March 2020, just bought the dip.  I'm actually up 850% for the past 12 months.

I do covered calls and puts but other things as well.  Have my long term stock like Tesla which I'm in at $89 dollars and do a few swings.  I'll buy my options back 2 or 3 times a week and resell.  Tesla is selling at 850, up from 818 when I first posted a few days ago.  Will be over 1000 by Christmas.  More likely 1200.

But worrying about the market tanking is the least of my troubles.

Game changer when you could start trading practically for free via TD Ameritrade, Webull, Robinhood etc.  I executed over 5000 trades in 2020.  If I had to pay a broker to do that I probably would have been ion the negatives, LOL.

Also the worse thing you can do with your cash is put it in savings.  100 dollars today will be worth 96 dollars or less due to inflation.

The Feds have propped up the market for years.