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Started By
Message
Thinking of getting into day trading
Posted on 11/10/16 at 4:14 pm
Posted on 11/10/16 at 4:14 pm
Any advice? I've never been a big follower of the stock market.
12
Posted on 11/10/16 at 4:25 pm to Rougarou13
Nothing to it. Jump right in.
Posted on 11/10/16 at 4:48 pm to Rougarou13
So you want to get into something that you don't really follow and can put you up against ptofessionals and institutions without you having a clue? Sure, what could possibly go wrong? 
Read this thread from earlier today. My post and Lou Pai's in particular if you want a bit of info of what you're thinking about getting into.
Read this thread from earlier today. My post and Lou Pai's in particular if you want a bit of info of what you're thinking about getting into.
Posted on 11/10/16 at 4:59 pm to Rougarou13
DONT
Posted on 11/10/16 at 5:25 pm to Rougarou13
A few years ago I believe LSURussian said how do you end up with a million day trading? Start with 2 million. Unless you really know what you are doing, I would advise against it.
Posted on 11/10/16 at 5:58 pm to Rougarou13
Follow 50-100 stocks weekly for about 18 months. One does not simply jump into trading.
Posted on 11/10/16 at 7:24 pm to Omada
Well that's my point. What's the best way to get associated with the market?
Posted on 11/10/16 at 7:38 pm to bayoubengals88
quote:
Follow 50-100 stocks weekly for about 18 months. One does not simply jump into trading.
What site or sites do you use to follow stocks mainly
Posted on 11/10/16 at 8:17 pm to Rougarou13
It's easy. Any fool can do it.....
Posted on 11/10/16 at 8:36 pm to HailToTheChiz
quote:I literally just know the ranges from looking incessantly at the iphone app for stocks. Started in March of 2014 and still do it daily...and I STILL SUCK at it!
What site or sites do you use to follow stocks mainly
There's a pretty damn good youtube channel for trading. Some New Zealand guy. Shouldn't be hard to find.
Posted on 11/10/16 at 9:01 pm to Rougarou13
quote:
Well that's my point. What's the best way to get associated with the market?
After that, you should read Investopedia. And more Investopedia. You read forums (avoid Stocktwits like the plague or perish! also avoid r/wallstreetbets for anything other than humor) until you're out of things to read. You read highly regarded books mentioned on Investopedia and the forums. You watch the market constantly.
And when you're done, then you can start figuring out a strategy. Or you get tired of taking the long way and throw all your money into a system someone's selling or into penny stocks. Then you lose all your money.
Posted on 11/10/16 at 9:08 pm to Rougarou13
Download OANDA and trade euros against the dollar. They don't charge trading fees or have a min balance
Posted on 11/10/16 at 10:00 pm to Rougarou13
Don't.
You're in over your head against folks that have more resources and experience than you.
*Insert a million examples of how the tortoise eventually beats the hare*
You're in over your head against folks that have more resources and experience than you.
*Insert a million examples of how the tortoise eventually beats the hare*
Posted on 11/11/16 at 2:44 am to Rougarou13
quote:
Thinking of getting into day trading
Do you believe you're smarter than a computer?
Regardless of your answer, there is nothing more to discuss on the topic.
Posted on 11/11/16 at 3:30 am to Rougarou13
quote:
I've never been a big follower of the stock market.
lol
Posted on 11/11/16 at 9:45 am to Rougarou13
This is like saying, "I'm thinking about getting into snow skiing. Going to start off on double black diamond slopes, any advice?"
This post was edited on 11/11/16 at 9:47 am
Posted on 11/11/16 at 4:25 pm to Rougarou13
Don't put in money that you aren't willing to lose. There are no sure bets. Even with all the information, it's still gambling.
This is not value investing. Day trading is fundamentally very easy. Buy low, sell higher. Repeat. Now, selecting specific stocks and planning effective entry/exit points is not. Putting money on the line is considerably more demonstrative than any book. People inherently act differently when there are real consequences to their decisions.
Good luck.
This is not value investing. Day trading is fundamentally very easy. Buy low, sell higher. Repeat. Now, selecting specific stocks and planning effective entry/exit points is not. Putting money on the line is considerably more demonstrative than any book. People inherently act differently when there are real consequences to their decisions.
Good luck.
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