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Money Matters
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Old 07-14-2015, 01:20 AM   #1
Tonygrig
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Day trading!

Had a few questions for you guys!
Is anyone out there doing it?
How is it working out?
How much did you initially invest?
What trading site/app are you using?
And any tips for a noob like me trying to learn a new hobby/ skill?

Thanks guys!
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Old 07-14-2015, 09:39 AM   #2
evolved
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Thread title should be changed to "Gambling!"



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Old 07-14-2015, 09:44 AM   #3
Tonygrig
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Thread title should be changed to "Gambling!"



You're right
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Old 07-14-2015, 12:48 PM   #4
Wraisil
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Quote:
Originally Posted by Tonygrig View Post
Had a few questions for you guys!
Is anyone out there doing it?
How is it working out?
How much did you initially invest?
What trading site/app are you using?
And any tips for a noob like me trying to learn a new hobby/ skill?

Thanks guys!
If you treat it as a hobby you can count on it being an expensive hobby...
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Old 07-14-2015, 02:57 PM   #5
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Also, as an FYI, you can't effectively day-trade with less than $25k in the account (assuming you are successful and not losing money from the get-go, since that's the legal minimum account balance allowed for pattern day traders).
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Old 07-14-2015, 04:20 PM   #6
Tonygrig
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If you treat it as a hobby you can count on it being an expensive hobby...

More a of learning experience than a "hobby" just trying to find out how it all works!

Quote:
Originally Posted by Wraisil View Post
Also, as an FYI, you can't effectively day-trade with less than $25k in the account (assuming you are successful and not losing money from the get-go, since that's the legal minimum account balance allowed for pattern day traders).

I can say right now I do not have 25k to throw into a bank account to just hope and make money it's a risk and you are not in a position to lose the money it is not the correct decision. I am currently trying to follow trends and play earnings. I am not using and special accounts, just and app with free trading. I have always been interested in how the stock market works and what drives it. I'm just young and exploring at this point. Didn't know if anyone has any suggestions! Obviously they are not one liners but hell anything will help!

Thank you for your feed back!
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Old 07-16-2015, 12:45 AM   #7
DNTHATE
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A few former playmates do it and are making out pretty good. Should be easy.
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Old 09-04-2015, 08:44 AM   #8
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I just put 30K(25K minimum required) a few days ago into Scottrade to mess around shorting penny stocks. Made a little over 2K in 2 days. TBH, you need to have time on your hands to sit there and analyze/monitor the market and make snap decisions. If you have a day job I wouldn't recommend day trading. You need to be glued to your device. If you are really interested I would recommend you study up on Candlestick charting, get the book by Steve Nison. Also, learn about pattern recognition. You would need to be able to evaluate stock patterns and trends..etc.

TBH, if you are serious then you need to subscribe to someone who teaches these kind of things. It is way better and faster to learn from someone with experience than on your own.

Also, I'm going to warn you that day trading/swing trading is similar to gambling. You will lose a lot of money in a blink of an eye if you make the wrong decision. You need to invest 120% of yourself to studying and researching stocks on your "watch list".

Bottom line, only play if you have backup funds or money to lose.
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Old 09-04-2015, 10:32 AM   #9
Tonygrig
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Originally Posted by MorganFreeman View Post
I just put 30K(25K minimum required) a few days ago into Scottrade to mess around shorting penny stocks. Made a little over 2K in 2 days. TBH, you need to have time on your hands to sit there and analyze/monitor the market and make snap decisions. If you have a day job I wouldn't recommend day trading. You need to be glued to your device. If you are really interested I would recommend you study up on Candlestick charting, get the book by Steve Nison. Also, learn about pattern recognition. You would need to be able to evaluate stock patterns and trends..etc.

TBH, if you are serious then you need to subscribe to someone who teaches these kind of things. It is way better and faster to learn from someone with experience than on your own.

Also, I'm going to warn you that day trading/swing trading is similar to gambling. You will lose a lot of money in a blink of an eye if you make the wrong decision. You need to invest 120% of yourself to studying and researching stocks on your "watch list".

Bottom line, only play if you have backup funds or money to lose.
To be completely honest with you, I have no where near enough to play at that level. Your at the big buy in poker table, I'm at the slots. I do some VERY light trading $40.00 to $60.00 on a single stock. It is just VERY interesting to me how it all works and i am trying to get my toes wet and see what I can learn with out losing a ton of money. I have hit a couple winners making 25-30% but some tank its the way the stocks go.

I have MUCH to learn.

I am very interested in what car you have as a weekend car!
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Old 11-11-2015, 11:15 AM   #10
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Man there is a nice amount of info here. My friend's dad is into day trading and ForEx as well, he's always going on and on about these programs that he uses to help find out which items will actually hold their value or be lucrative in the long run.
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