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Started By
Message
DJIA day-trading
Posted on 2/26/13 at 4:26 pm
Posted on 2/26/13 at 4:26 pm
I am retired and have $425,000 in individual
long term bonds. The annual interest is a little
over 6%. I have wondered if cashing these in and
day-trading the DJIA would produce more income but
I don't know anything about day-trading. Here's
my questions:
1. Would this be a bad idea?
2. How could an amateur like me approach this?
3. Are there trustworthy individuals/firms that
you would recommend to do this?
4. Is it too complicated for an amateur like me
to do this considering I have a good computer
and time to pay attention?
5. My thinking is to pick one good EFT that tracks
the DJIA only and make a trade only when an
opportunity arises, not to sit at the computer
and make multiple trades per day. Is this
realistic?
6. What strategy would you recommend?
Thanks for your suggestions.
long term bonds. The annual interest is a little
over 6%. I have wondered if cashing these in and
day-trading the DJIA would produce more income but
I don't know anything about day-trading. Here's
my questions:
1. Would this be a bad idea?
2. How could an amateur like me approach this?
3. Are there trustworthy individuals/firms that
you would recommend to do this?
4. Is it too complicated for an amateur like me
to do this considering I have a good computer
and time to pay attention?
5. My thinking is to pick one good EFT that tracks
the DJIA only and make a trade only when an
opportunity arises, not to sit at the computer
and make multiple trades per day. Is this
realistic?
6. What strategy would you recommend?
Thanks for your suggestions.
6
Posted on 2/26/13 at 4:32 pm to oldtimefootball
quote:
1. Would this be a bad idea?
Im not even one of the gurus on here and I say emphatically say YES
You can lose your arse if you don't know what you are doing...
This post was edited on 2/26/13 at 4:36 pm
Posted on 2/26/13 at 4:39 pm to oldtimefootball
quote:
DJIA day-trading
quote:
I don't know anything about day-trading.
quote:
Would this be a bad idea?
Didn't you answer your own question??
Seriously, I've been day trading for about 15 years. When I first started, with considerably more than $425,000, I lost my butt for a couple of years.
When someone would ask me back then how they could get to a million dollars by day trading I told them the secret was to start with TWO million dollars.....
I eventually developed a more disciplined, standard deviation-based approach to day trading and I make pretty decent money now.
If you do decide to try it, start with an amount you can afford to lose, say $50,000. Just like going to a casino, if you lose your initial stake, then walk away.
And do you really want to sell bonds earning you a coupon of 6%? You're going to take a tax hit reporting the gains you'll make by selling those bonds and then you won't have $425,000.
Posted on 2/26/13 at 4:46 pm to oldtimefootball
quote:
1. Would this be a bad idea?
ARE YOU KIDDING ME???
quote:
5. My thinking is to pick one good EFT that tracks
the DJIA only and make a trade only when an
opportunity arises, not to sit at the computer
and make multiple trades per day. Is this
realistic?
That would not be day trading, and ETF's are good investments, until people ruin them by over trading them. If you're gonna buy mutual funds or ETF's, trading often can kill your returns.
Posted on 2/26/13 at 4:52 pm to oldtimefootball
quote:
I am retired and have $425,000 in individual
long term bonds. The annual interest is a little
over 6%.
For the love of god hold onto those bad boys till maturity or you really need money.
Little hint, 90% of retail equity day traders are lamb for the slaughter. It may not be "fun" or "sexy" to just hold onto these bonds, but you're retired and the income you're getting from those are better than what you'll get in the open market. It is also much better than you will probably get day trading unless you're a long time trader or just really lucky.
Posted on 2/26/13 at 5:31 pm to BennyAndTheInkJets
I've heard enough. I'm putting that crazy idea to rest. I never would have been able to talk my wife into it, anyway. Thanks, guys.
Posted on 2/26/13 at 5:37 pm to oldtimefootball
quote:
I've heard enough. I'm putting that crazy idea to rest. I never would have been able to talk my wife into it, anyway. Thanks, guys.
This post was edited on 2/26/13 at 5:38 pm
Posted on 2/26/13 at 5:46 pm to oldtimefootball
It's just money
You only live once
Follow your dreams
:troll:
You only live once
Follow your dreams
:troll:
Posted on 2/26/13 at 6:00 pm to oldtimefootball
No sarcastic mention of Iraqi Dinar? For shame MT 
Posted on 2/26/13 at 6:04 pm to jso0003
quote:
No sarcastic mention of Iraqi Dinar? For shame MT
Have no time for Dinar, Bitcoins Mother fricker
Posted on 2/26/13 at 9:16 pm to LSURussian
quote:
I eventually developed a more disciplined, standard deviation-based approach to day trading and I make pretty decent money now.
Could you share your strategy in simple terms so that a lay person (with a bit of money to lose in the interest of learning) could try to replicate it some what?
Posted on 2/26/13 at 9:54 pm to I Love Bama
quote:so you don't believe in God or eternity?
You only live once
Posted on 2/26/13 at 9:56 pm to oldtimefootball
There a reason why the day trading fad didn't last long in the late 90's.
Posted on 2/26/13 at 10:18 pm to I Love Bama
quote:
:troll:
Posted on 2/26/13 at 10:19 pm to long4life
quote:
so you don't believe in God or eternity?
The devil will let you day trade from hell?
Posted on 2/26/13 at 10:21 pm to Vols&Shaft83
quote:
Have no time for Dinar,
quote:
Bitcoins Mother fricker
Posted on 2/27/13 at 4:59 am to Fat Bastard
quote:
I bet this was funny too
Morning BastardThis post was edited on 2/27/13 at 5:00 am
Posted on 2/27/13 at 7:08 am to Vols&Shaft83
quote:
Morning Bastard
Top of the morning to ya mate!
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