Day trading????

[BubbaHFD]

Do any of yall get into day trading? I'm interested in getting into it and learning. I know a guy (mere more of a friend of a friend) who's wife got into it pretty seriously and was able to quit her job after about a year and a half and just do day trading and makes more than her old job. I know that's probably not common and not what I'm looking to do, but seems interesting. I'm just curious if its something worth piddling in for extra money. I understand that it cant be money that I cant afford to lose.....but would be cool to be able to get some input from some others.

[ctom87]

in before bitcoin reference.

[pervis]

I did it yrs ago. I started w 5k and in a summer quit at 60k. Now that is not at all normal. I was trading options on apple google Netflix etc when those stocks were in the 100 to 300 range. My best advice would be to go buy a new safe and put your guns in it. Only let your wife know the combo. You should forget the combo yourself. Your gona have days where your on top of the world and days where you wana put a 12ga in your mouth.

[KyleW]

In for the answers too. Have kicked it around myself.

[panhandlehunter]

You need a minimum $25k If you make 4 or more day trades a week.

[locolobo]

Only person I know who did that wishes, he didn't. Worked for a global company for 15 yrs. Got into day trading lightly for a few yrs and decided to become a stockbroker for himself, full time. Took early retirement @ 20 yrs and emptied his 401K for seed money. best thing he did was to use some of his gains to build some rent houses on his property. Cheap shotgun houses he built himself. Lost his $&& on the day trading but had his rent houses to fall back on.

[locolobo]

Double tap

[RiverRat1]

I've been doing it since 1993. Way more stuff than I could ever type.

You have to find a niche and stick with it. Can't deviate day to day. This is where a lot of traders fail, including myself.

There are 100's of ways to possibly trade. Swing trade (a hold for 1-40 days), daytrade (just quick flips), buy stocks with dividends and build a portfolio and everything in between.

Then do you want to trade based on chart technicals? Breaking news? Events?

Micro stocks .0001 - .02 Penny stocks .01-.10 Small cap or large cap stocks?

Best to get in very small like less than 500 Find a good stock group. Avoid pumpers, which is dang near everyone


My best is I took an account from $750 to $32,000 in 7-8 months trading mainly penny stocks. Now I try and only trade upcoming events like FDA decisions and sell before the event.

[mzurovec]

I have dabbled in it and had a lot of success ($10k+ gainer weeks) and a lot of failure ($10k+ losing weeks). I lost about $8k over a year of doing it and can think of a lot of other things I could do with that cash right now. I've since put the "daytrading fund" into high dividend ETFs.

Good luck!

[pervis]

Yeah as posted above you must be 25k liquid at a minimum to truly day trade. You can make 3 to 4 day trades a week and get away with it. But trades over the 3 to 4 you must have liquidity.

I would just try to make one or two trades a week for short term gains of your wanting to try it. That way your not holding 25k. But it's all about how much you can risk.

[TXCountryboy]

I’ve actually been thinkin about doing a little of this but I’ve been looking more into swing trading. There are pros and cons to both. I’m not sure yet I’m gonna jump into it - almost everyone I’ve talked to says you have big ups and big downs and you’ve gotta have the mindset (and the margin) to be able to push through the downs. PS - be cautious of anyone who brags that they always make money and make it big.

[Huntingfool]

I am all about the hard question "what did you net?"

I know so many folks who brag about making money in Vegas - funny how they only count the wins and forget about the losses.

To each his own but day trading is for a very very few individuals IMO. When the everyday person tries it they are playing with fire. As my Daddy said "stay between the lines" - I have chosen the slow and steady path - guess what?? It worked - I am now financially independent

[Hunteraudit]

Nevermind

[PROD49]

I’ve actually been thinkin about doing a little of this but I’ve been looking more into swing trading. There are pros and cons to both. I’m not sure yet I’m gonna jump into it - almost everyone I’ve talked to says you have big ups and big downs and you’ve gotta have the mindset (and the margin) to be able to push through the downs. PS - be cautious of anyone who brags that they always make money and make it big.

Yeah...back in the day and made a crap ton of money till that day in 2000. Many many margin calls later I decided to stick with day job and let the professionals do what they do. It's a long ball game.

Sent from my SM-G950U using Tapatalk

[Burnadell]

Do any of yall get into day trading? I'm interested in getting into it and learning. I know a guy (mere more of a friend of a friend) who's wife got into it pretty seriously and was able to quit her job after about a year and a half and just do day trading and makes more than her old job. I know that's probably not common and not what I'm looking to do, but seems interesting. I'm just curious if its something worth piddling in for extra money. I understand that it cant be money that I cant afford to lose.....but would be cool to be able to get some input from some others.

What level of knowledge do you now possess about stocks and how to analyze the companies? Can you analyze a balance sheet and income statement?

I've been doing it since 1993. Way more stuff than I could ever type.

You have to find a niche and stick with it. Can't deviate day to day. This is where a lot of traders fail, including myself.

There are 100's of ways to possibly trade. Swing trade (a hold for 1-40 days), daytrade (just quick flips), buy stocks with dividends and build a portfolio and everything in between.

Then do you want to trade based on chart technicals? Breaking news? Events?

Micro stocks .0001 - .02 Penny stocks .01-.10 Small cap or large cap stocks?

Best to get in very small like less than 500 Find a good stock group. Avoid pumpers, which is dang near everyone


My best is I took an account from $750 to $32,000 in 7-8 months trading mainly penny stocks. Now I try and only trade upcoming events like FDA decisions and sell before the event.

Do you understand what River Rat posted above? If not, you might think long and hard about it unless you are okay with blowing your investment.