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Started By
Message
Any day traders out there?
Posted on 10/5/22 at 8:22 pm
Posted on 10/5/22 at 8:22 pm
Looking in to day trading since I work mostly nights and want to try and earn a little extra in my free time.
Any advice from day traders out there?
Any advice from day traders out there?
23
Posted on 10/5/22 at 8:31 pm to CaliTigerHB
Don't buy anything you aren't willing to hold
Posted on 10/5/22 at 8:31 pm to CaliTigerHB
quote:
day trading
quote:
I work mostly nights
You like sleep?
This post was edited on 10/5/22 at 8:32 pm
Posted on 10/5/22 at 8:35 pm to themasterpater
quote:
You like sleep?
By working nights I mean I go in to work around 3 or 4 and end around 11 so yes I sleep from about 1-8
Posted on 10/5/22 at 8:43 pm to CaliTigerHB
quote:
Any advice from day traders out there?
if you want to walk away with 50k
start with 100k
Posted on 10/5/22 at 9:20 pm to CaliTigerHB
quote:
Any advice from day traders out there?
Seriously. I can’t tell you that you won’t (eventually) be successful, but it’s likely that you’ll get an expensive education before you become consistently profitable.
I don’t suggest anything on here. So I’ll just ask if you’ve ever looked into option premium selling?
Posted on 10/5/22 at 9:29 pm to CaliTigerHB
quote:
Looking in to day trading since I work mostly nights and want to try and earn a little extra in my free time.
Unless you want to study harder and longer than you did in whatever profession you may do and stare at charts for 10+ hours a day I would advise against day trading.
Posted on 10/5/22 at 9:32 pm to CaliTigerHB
Why not just buy and hold to make money while you sleep?
Posted on 10/5/22 at 9:32 pm to Ford Frenzy
quote:
Any day traders out there?
Wrong
quote:
Don't buy anything you aren't willing to hold
Right
Don't buy anything you are willing to hold for more than a day.
Posted on 10/5/22 at 9:34 pm to Jag_Warrior
Yep. Day trading is not a side hustle.
Good news is you’ll be starting in a market that won’t give you some false sense of security that you’re so smart it’s easy. That just adds time and anguish to the learning process.
Good luck!
Good news is you’ll be starting in a market that won’t give you some false sense of security that you’re so smart it’s easy. That just adds time and anguish to the learning process.
Good luck!
Posted on 10/5/22 at 10:56 pm to CaliTigerHB
Study and practice for as long as it takes (over a year for most people) before putting in real money. No shite. Figure out your style, what you're good at, comfortable with, have time for, etc.
When you do put money in, start with a small amount you're fine losing and keep at it until you're consistently profitable before putting in more money. Capital/risk management (figuring out your win rate and knowing how much you can lose on a trade) is more important than the amount you might win on any trade.
So since you have free time, start studying your arse off and look at hundreds and thousands of charts on different time frames to start trying to recognize patterns in price and volume, and when a ticker is likely to move up or down with predictability. Don't start trading yet.
Or don't listen to me and lose all your money.
When you do put money in, start with a small amount you're fine losing and keep at it until you're consistently profitable before putting in more money. Capital/risk management (figuring out your win rate and knowing how much you can lose on a trade) is more important than the amount you might win on any trade.
So since you have free time, start studying your arse off and look at hundreds and thousands of charts on different time frames to start trying to recognize patterns in price and volume, and when a ticker is likely to move up or down with predictability. Don't start trading yet.
Or don't listen to me and lose all your money.
This post was edited on 10/5/22 at 10:59 pm
Posted on 10/5/22 at 11:19 pm to CaliTigerHB
I've been learning and researching day trading for about 6 months and I still feel like I have tons more to learn. It can be overwhelming.
There are countless strategies too and not all people trade the same way. Definitely manage your risk with favorable risk/reward ratios.
Also, do not day trade crypto. I say that as a crypto holder myself. There are no regulations on day trading and the market manipulation is frustrating as hell to deal with.
Also, start paper trading before using real money. As the previous poster said, when you start trading with real money, start with small amounts. I'm personally at the "small amounts" of money stage. I moved on from paper trading since I was winning pretty consistently there.
When paper trading, treat that fake money like you will starve unless you win your trades. Since it's fake money, you probably won't take the trades as seriously, or you might take risks you otherwise wouldn't with real funds. Don't make those mistakes.
There are countless strategies too and not all people trade the same way. Definitely manage your risk with favorable risk/reward ratios.
Also, do not day trade crypto. I say that as a crypto holder myself. There are no regulations on day trading and the market manipulation is frustrating as hell to deal with.
Also, start paper trading before using real money. As the previous poster said, when you start trading with real money, start with small amounts. I'm personally at the "small amounts" of money stage. I moved on from paper trading since I was winning pretty consistently there.
When paper trading, treat that fake money like you will starve unless you win your trades. Since it's fake money, you probably won't take the trades as seriously, or you might take risks you otherwise wouldn't with real funds. Don't make those mistakes.
This post was edited on 10/5/22 at 11:29 pm
Posted on 10/6/22 at 8:14 am to CaliTigerHB
I’m a day investor
Posted on 10/6/22 at 8:22 am to CaliTigerHB
Drive uber, 99.9999% of day traders lose their arse.
Posted on 10/6/22 at 10:11 am to UpstairsComputer
To add... 
Posted on 10/6/22 at 12:46 pm to CaliTigerHB
Open an account $25K+ to make day trades
Select 20 stocks, most having 5M+ shares trading per day
Watch these for 60 days..notice the pattern on charts
Start with 5-10 shares per trade...on a free trade platform
If your conviction is strong..hold for a few days if necessary...don't panic sell
No one ever went broke taking a profit
There are 2 sides to every trade..don't be adverse to shorting
Select 20 stocks, most having 5M+ shares trading per day
Watch these for 60 days..notice the pattern on charts
Start with 5-10 shares per trade...on a free trade platform
If your conviction is strong..hold for a few days if necessary...don't panic sell
No one ever went broke taking a profit
There are 2 sides to every trade..don't be adverse to shorting
Posted on 10/6/22 at 1:20 pm to CaliTigerHB
Personally I’d advise becoming well versed in options and go that route. The risk on each trade is defined as long as you don’t get caught on ex day. I did it for a couple years and the worst of the 2 was 70% up after taxes. It can be stressful and when you have positions in play a major time consumer. I haven’t done it in a few years but am getting the itch again and want a new boat.
Whichever route you take do real life paper trades for awhile to get the feel. No cheating, backwards looking trades and make buys and sells with real-time quotes with attainable numbers of stock or contracts. It’ll teach you risk management and give you a probability of success. No cheating and be honest with the outcome
Whichever route you take do real life paper trades for awhile to get the feel. No cheating, backwards looking trades and make buys and sells with real-time quotes with attainable numbers of stock or contracts. It’ll teach you risk management and give you a probability of success. No cheating and be honest with the outcome
Posted on 10/7/22 at 8:37 am to CaliTigerHB
I've been daytrading for close to a year. With a tiny account to learn the ropes. I'm still not consistently profitable and may not be for years.
The learning curve is enormous, but I love so I'll never quit.
It's not a quick side hustle type thing. Gonna take you years to become really consistent like most people.
The learning curve is enormous, but I love so I'll never quit.
It's not a quick side hustle type thing. Gonna take you years to become really consistent like most people.
This post was edited on 10/7/22 at 8:39 am
Posted on 10/7/22 at 12:20 pm to SM1010
quote:
Gonna take you years to become really consistent like most people.
most people?
so most are good at day trading?
you think stocks are tough try day trading futures currencies.
Posted on 10/7/22 at 12:21 pm to SM1010
quote:
I'm still not consistently profitable and may not be forever.
FIFY, but good luck.
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