I've always wanted to do this. Has anyone here made a large amount of money off of stock investments? I feel like the best pay offs tend to be long term investments, but I have heard of people making money off of day trading. Seems extremely risky. Any input on this would be appreciated.

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Posted by Alabama Slim

Team Massie

Member since Jul 2007

10666 posts

Posted on 2/25/10 at 9:52 am to LSwhoDat

quote:
but I have heard of people making money off of day trading. Seems extremely risky. Any input on this would be appreciated.

go to investapedia.com and start an account, they will give you 100k (play money of course) to trade with, see how well day trading works for you in the long run.

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Posted by LSwhoDat

The Red Stick

Member since Jul 2007

1203 posts

Posted on 2/25/10 at 9:55 am to Alabama Slim

quote:
go to investapedia.com and start an account, they will give you 100k (play money of course) to trade with, see how well day trading works for you in the long run.

Just from your response you have pretty much confirmed what I believed. Long term probably is the only way to go.

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Posted by Enrique

Bogota, Colombia

Member since Oct 2006

5597 posts

Posted on 2/25/10 at 11:12 am to LSwhoDat

my buddy got into day trading as a hobby then went with it full time and lost everything he put into it. Also was a guy in my building that day traded for a living and ended up jumping out of his window and committing suicide. Im sure there are people that make money from it but it seems risky.

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Posted by Murray

Member since Aug 2008

14797 posts

Posted on 2/25/10 at 11:14 am to Enrique

pennystocktrader doodoodoodoodoodoodoodoo pennystocktrader doodoodoodoodoodoodoodoo

All you need is a pennyyyyy..

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Posted by pdaddy2005

covington

Member since May 2008

2181 posts

Posted on 2/25/10 at 11:20 am to Murray

Make it a hobby not a way for your retirement. Dabble in it. I would highly recommend paper trading first.

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Posted by TheHiddenFlask

The Welsh red light district

Member since Jul 2008

18384 posts

Posted on 2/25/10 at 12:01 pm to LSwhoDat

quote:
LSwhoDat

Plenty of people make money daytrading, but virtually none of them daytrade as a hobby.

Day trading, on average, returns the risk free rate of return.

I've made tons of money and lost tons of money doing it, but I'm still very far ahead in the game. I know a lot of people who have just lost their asses doing it.

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Posted by Dallas Tiger

Dallas

Member since Mar 2006

15080 posts

Posted on 2/25/10 at 12:11 pm to LSwhoDat

quote:
Has anyone here made a large amount of money off of stock investments?

I use Ameritrade (9.99 a trade w/ all trades in the 1st month free). I bought a bunch of citibank stock at $1.05 and sold it at $4.95 a month or 2 later. This was during the bailouts last year. I had researched it and knew the accounting rules were changing to help banks out. I bought other stocks at that time and am up about 20% on those.

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