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Short term trading/ playing earnings reports
Posted on 6/25/13 at 8:29 am
Posted on 6/25/13 at 8:29 am
Dont post on here too much, read a good bit though.
Most of the stuff I read on here is all about long term, holding stocks for years, investing in Roth IRA's etc.
Do any of yall do any "day trading" or short term trading.
ETA: forgot about the earnings report part. Typically you'll know where someones earnings are going to be relative to where they are expected to be. I have heard of people playing these, just buying the stock for that day and selling it the next, any experience?
What got me thinking was looking at a day like today, where we are more than likely going to see some decent gains, buying a stock thats low, it may go up 10% by Friday, and selling it on Friday and taking your money back out.
I think one of the main deterrents for this are the fees involved, but if you are paying $7 a trade, if you make $100 you are still coming out with $86. Also, I guess its pretty risky.
So does anyone here do some short term trading and have any advice for someone interested?
Most of the stuff I read on here is all about long term, holding stocks for years, investing in Roth IRA's etc.
Do any of yall do any "day trading" or short term trading.
ETA: forgot about the earnings report part. Typically you'll know where someones earnings are going to be relative to where they are expected to be. I have heard of people playing these, just buying the stock for that day and selling it the next, any experience?
What got me thinking was looking at a day like today, where we are more than likely going to see some decent gains, buying a stock thats low, it may go up 10% by Friday, and selling it on Friday and taking your money back out.
I think one of the main deterrents for this are the fees involved, but if you are paying $7 a trade, if you make $100 you are still coming out with $86. Also, I guess its pretty risky.
So does anyone here do some short term trading and have any advice for someone interested?
This post was edited on 6/25/13 at 8:31 am
2
Posted on 6/25/13 at 10:20 am to chickman1313
quote:
Do any of yall do any "day trading" or short term trading.
Best advice I can give you:
If you are an institutional trader or broker/dealer, you can consistently make money day trading because that is your job.
If you are a retail investor, you are gambling and likely going to lose money. That's not to say you can't but it's very hard. The bid/ask you're going to get as a retail investor is pretty wide so you have to have big swings to make any profit, and these swings can easily go the opposite way.
Long story short, unless you're a professional trader, you shouldn't day trade. You are likely lamb for slaughter. This isn't me being a dickhead, this is me just giving you the best advice I can.
Posted on 6/25/13 at 10:24 am to BennyAndTheInkJets
agree, I dont have the money right now anyway to be profitable at it. just something I think about from time to time.
Posted on 6/25/13 at 10:25 am to BennyAndTheInkJets
quote:
Best advice I can give you:
If you are an institutional trader or broker/dealer, you can consistently make money day trading because that is your job.
If you are a retail investor, you are gambling and likely going to lose money. That's not to say you can't but it's very hard. The bid/ask you're going to get as a retail investor is pretty wide so you have to have big swings to make any profit, and these swings can easily go the opposite way.
Long story short, unless you're a professional trader, you shouldn't day trade. You are likely lamb for slaughter. This isn't me being a dickhead, this is me just giving you the best advice I can.
Ditto. In 15 years of doing what I do, I've never seen one regular Joe successful at short term plays/day trading.
Posted on 6/25/13 at 11:47 am to Broke
quote:
Ditto. In 15 years of doing what I do, I've never seen one regular Joe successful at short term plays/day trading.
Well, I day trade and have an avg of 13+% return over many years. Yes, any fool can loose money, but doing the homework into day trading can make or break you.
Just in the last few days I had put up what I was trading and yes I made some money for the chances I took.
To the OP. Day trading is making a trade that same day. Not over a bunch of days. That is a sure way of loosing money. Myself, even if I'm loosing in a trade, I will sell out the same day. I don't day trade every day. I look at just a few stocks to buy along with high volume. My trades are as much as 50K going in on one stock. I try to limit my trades to 1K of a stock, never lower then that. I never leave my computer when trading as long as the trade is in place. It is a full time job so to speak. As for as setting my strike price, it depends on the stock and how it is playing out along with volume and history.
Market conditions are much better with a dropping market. A day like today, I stay out. I'm still looking for more down side.
Posted on 6/25/13 at 1:40 pm to chickman1313
quote:
agree, I dont have the money right now anyway to be profitable at it. just something I think about from time to time.
I know many people who have made great money by day trading, I know many more who have lost their arse and their momma's arse along with it. You are at a HUUUUUUUUGE disadvantage as an individual investor. IF you are one of the tens of thousands of guys who want to get ahead of the pack by short term day trading with little or no market experience, you will get killed.
There are so many ways to make money in the stock market, this is not one I'd recommend.
Posted on 6/25/13 at 1:43 pm to Broke
quote:
Ditto. In 15 years of doing what I do, I've never seen one regular Joe successful at short term plays/day trading.
There just isn't enough time to do your due diligence IMO.
If I didn't work full time, I might have a little bit better odds, but I just don't have the time to do research with my job. Same goes for most I'm sure.
Posted on 6/25/13 at 1:52 pm to Powerman
quote:
There just isn't enough time to do your due diligence IMO.
If I didn't work full time, I might have a little bit better odds, but I just don't have the time to do research with my job. Same goes for most I'm sure.
But the difference between you and them, is that they still try it. Even though they don't know their arse from a hole in the ground. They think they are smart. They aren't.
Posted on 6/25/13 at 3:18 pm to Broke
quote:
But the difference between you and them, is that they still try it. Even though they don't know their arse from a hole in the ground. They think they are smart. They aren't.
I'm in full agreement if one has no experience in market trading. I think they would do better putting it all on red.
Day trading is not a get fast rich job unless you are playing with someone else's money.
Posted on 6/25/13 at 6:52 pm to chickman1313
quote:
What got me thinking was looking at a day like today, where we are more than likely going to see some decent gains, buying a stock thats low, it may go up 10% by Friday, and selling it on Friday and taking your money back out.
Brilliant!
Don't day trade, you'll lose your arse and waste a ton of money on fees in the process. You also have to have 25k in your account to be able to actually day trade(3 round trips a week).
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