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  • Any day traders here?

    Looking to do some day trading on slow days/days off. Where can I learn how to do this and what site do you use to trade?

  • #2
    How to make a small fortune day trading:

    Step 1.  Start with a large fortune...

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    • #3
      I did some day trading in my early 20’s. It didn’t go well. You can do it through pretty much any brokerage. Try to find one that offers a bunch of free trades. Commissions end up killing you as a day trader. You will need a margin account.

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      • #4




        How to make a small fortune day trading:

        Step 1.  Start with a large fortune…
        Click to expand...


        :lol:

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        • #5
          What's the difference between a pigeon and a day trader?

          A pigeon can still make a deposit on a BMW.
          I sometimes have trouble reading private messages on the forum. I can also be contacted at [email protected]

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          • #6
            I dont know exactly what you mean by "day trade" since theres a lot of ways to do it, as in/out in a couple minutes or someone who trades very regularly/scheduled and consistently. I am definitely the latter. I will sometimes hold positions for very short periods but mostly have a time and a plan for everything.

            Im up early in the am, following, reading, trading when setups are in my favor. Missed a good opportunity this am, but cant catch em all.

            If you're just looking to kill time you'll probably lose a lot of money. Should try to define what it is you're trying to do, what your edge is and how you will manage the system from a risk first standpoint. Everything should be framed in risk as rule number one is to live to trade another day.

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            • #7
              Opened this to see if you were trolling everyone. I'm not sure.

              If you think you have a theory that will make you big bucks day trading...maybe run your system with play money for a few weeks before you jump in. When tax time rolls around you'll be happy to avoid marking down all those trades.

              Over a decade ago I thought I was smart enough to be a day trader. Read about it. Learned the history of it. Never got it to make any money. I didn't have that much in the market and it didn't take me long to figure out what a time sink and hassle it was.

              When day trading became all the rage in the 80s or early 90s many of the successful traders had a technological advantage that no longer exists. I can't recall the specifics of the system except that they could jump their small orders in front of large orders. Outside of that system I'm pretty sure by now all the quants and AIs have gobbled up most of what an old day trader could have gained.

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              • #8
                You'll probably need a margin account to maximize gains (though this brings in leverage and maintenance call risks), cash to spend on trade fees (usually $5, but many online brokerages will give you X free trades/month), deal with STCGs eating a lot of your profits, and the fact that you're p much at the craps table.

                I'll probably take a shot at it someday, when my debts are all paid and my net worth is such that I don't need the gains from it anyway.  Funny how that works, by the time the risk is worthwhile, you no longer truly need the reward.

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                • #9
                  You dont really NEED a margin account, buy you'll want one and at least a 25k balance at all times, or otherwise you're handicapped by regulations that will not allow you to get in/out in/out before things "settle". This is called a free riding violation and will lock your account to only be allowed to trade after settlement, which used to be T+3 days! Insanity, its t+2 now but thats still terrible. You'll technically be using margin any time you're in/out enough times before actual settlement, but it wont amount to much and isnt real margin that can get you in trouble.

                  Interactive Brokers is by far the best account for this as their margin rates are ridiculously cheap, sub 2% or something, havent looked in a while. Like I said in another thread, there is no customer service and unless you know or can search others setups, it can be tough since its basically a DIY place. They are ruthless with calling margin, changing it randomly, pulling shares and selling your positions for the heck of it. Super annoying at times. You will not get a margin call, they will just sell everything.

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                  • #10
                    I'll interpret your interest in short term trading as a ratchet up in  the market maturity, and it's eventual reversion to a bear market.

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                    • #11




                      I’ll interpret your interest in short term trading as a ratchet up in  the market maturity, and it’s eventual reversion to a bear market.
                      Click to expand...


                      The nature of the market has made a significant change the last 6 months, its definitely different right now, ie it has moved on to a later stage for sure.

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                      • #12




                        I dont know exactly what you mean by “day trade” since theres a lot of ways to do it, as in/out in a couple minutes or someone who trades very regularly/scheduled and consistently. I am definitely the latter. I will sometimes hold positions for very short periods but mostly have a time and a plan for everything.

                        Im up early in the am, following, reading, trading when setups are in my favor. Missed a good opportunity this am, but cant catch em all.

                        If you’re just looking to kill time you’ll probably lose a lot of money. Should try to define what it is you’re trying to do, what your edge is and how you will manage the system from a risk first standpoint. Everything should be framed in risk as rule number one is to live to trade another day.
                        Click to expand...


                        Care to share stock tips?

                        Comment


                        • #13







                          I dont know exactly what you mean by “day trade” since theres a lot of ways to do it, as in/out in a couple minutes or someone who trades very regularly/scheduled and consistently. I am definitely the latter. I will sometimes hold positions for very short periods but mostly have a time and a plan for everything.

                          Im up early in the am, following, reading, trading when setups are in my favor. Missed a good opportunity this am, but cant catch em all.

                          If you’re just looking to kill time you’ll probably lose a lot of money. Should try to define what it is you’re trying to do, what your edge is and how you will manage the system from a risk first standpoint. Everything should be framed in risk as rule number one is to live to trade another day.
                          Click to expand…


                          Care to share stock tips?
                          Click to expand...


                          I dont think there is that much edge in stocks. Not enough to be repeatable in any meaningful way. There is always something that doesnt make sense, but I stay away from them all the same. I trade broad index ETFs and volatility, where the edge is that the space is very complicated and most people dont understand it, and unlike stocks, indexes, etc...its movements are predictable within a range, regime, set of parameters.

                          I just try to see whats going on in the big picture. If you want to express some opinions on stocks, theres likely an ETF that will be a more diversified way to do so with better overall characteristics/less risk. Say that you think home inventories are low (they are), and that homebuilders, etc...are going to do well, you could waste time poring over financials, etc...and find the best pick, or you could just buy the ETF that best encapsulates that idea. Same for REITs (not a great pick likely), etc...I dont even do that. My two biggest holdings at the moment are spy/qqq type etfs.

                          Right now the stock pickers game is to find a garbage company and buy OTM calls/warrants in the likelihood they announce some bs blockchain tie in and it skyrockets over night. I'd read and follow folks that do trade, and watch out because most people are full of it and act like theyre making tons of money, etc...I'd remember that you dont have any other info no one else does in the stock realm, so stick to things known to work, that usually means setup and rules to keep losses small and letting winners run. Trend following of some nature seems to work without acting as if they know anything, they just 'buy whats going up', 'sell whats going down'. Nice and agnostic.

                          Start small, trade paper, remember everyone looks smart in a bull market. Know your risk, have an exit planned, etc...The less I fiddle the more money I seem to make, like I've said before, I seem to get better every year at not messing with my portfolio too much.

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                          • #14
                            I don't invest in real estate outside of REITs, mainly because I dislike active investing and the inexact science of it.  But you have a much better chance of finding exploitable inefficiencies in your local real estate market than trying to pick stocks with the likes of professional traders and institutions.  In both cases your goal isn't to make money, it's to beat the spread (of passive investing) and overcome the house advantage (all the transaction costs).  Real Estate has the feel of Texas Hold Em, where if you have enough skill you can make money despite the randomness, but picking stocks feels a lot more like Blackjack, where you basically can't become an advantage player unless you cheat (exceptions like Warren Buffett and Peter Lynch notwithstanding).
                            I sometimes have trouble reading private messages on the forum. I can also be contacted at [email protected]

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                            • #15







                              Looking to do some day trading on slow days/days off. Where can I learn how to do this and what site do you use to trade?
                              Click to expand…


                              Start with a simple one. I think it’s better for a beginner to start with a trader platform based on an automated trading robot. I started with this one https://rofx.net/. It gave me a good start, a skill and I didn’t have to spend a long time to understand how does it work. Now as a trader with experience, I’m going to use mql5″
                              Click to expand...


                              What books did you use to learn?

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