Any day traders here?

[Zaphod]

Enilod326 wrote:

I Find This Humerus wrote:

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...

I wouldnt have people start with automated trading platforms, or forex for that matter. Although Rofx doesnt use leverage, those are fast ways to get lost, lose money and may not even be the markets some want to trade.

Best way is to use paper trading for a while. This is of course after you've figured out how/what you want to trade/why initially, and it will likely change over time.

@Ifindthishumerus What do you think you want to start with asset class and product wise?

[DR AJ]

I would not recommend you to day trade on your slow days.

 

I did that and lost more than 100 K in day trading.

 

You are trading against people who are doing this full time, armed with enormous data, supercomputers and large team and the odds are against you in this casino.

 

[I Find This Humerus]

Zaphod wrote:

Enilod326 wrote:

I Find This Humerus wrote:

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…

I wouldnt have people start with automated trading platforms, or forex for that matter. Although Rofx doesnt use leverage, those are fast ways to get lost, lose money and may not even be the markets some want to trade.

Best way is to use paper trading for a while. This is of course after you’ve figured out how/what you want to trade/why initially, and it will likely change over time.

@Ifindthishumerus What do you think you want to start with asset class and product wise?

Click to expand...

How about to make 100 to 500 a day? Is that feasible?

[Zaphod]

I Find This Humerus wrote:

Zaphod wrote:

Enilod326 wrote:

I Find This Humerus wrote:

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…

I wouldnt have people start with automated trading platforms, or forex for that matter. Although Rofx doesnt use leverage, those are fast ways to get lost, lose money and may not even be the markets some want to trade.

Best way is to use paper trading for a while. This is of course after you’ve figured out how/what you want to trade/why initially, and it will likely change over time.

@Ifindthishumerus What do you think you want to start with asset class and product wise?

Click to expand…

How about to make 100 to 500 a day? Is that feasible?

Click to expand...

It is, but not every day of course. Its very easy depending on size of the account. 1M, no problem, normal swings min/min. 50k? Might be more difficult, high risk of ruin even with a good system. Totally depends on your setup/market/products. Also your typical win amt vs. loss and of course frequency of either.

This could be options, futures, stocks, forex, etc...how you do it and structure things will determine risked amt/income or likelihood to profit. You also have just random variance like in any game with even positive expectations, you will still lose and often in streaks.

A word of caution if you're just starting, markets have become much more volatile lately, and you could easily be whipsawed back and forth into dust before you know jumping right in.

How would you try to make this amount? I usually think about how much Im risking vs profit/risked amt. For example, if Im running an option strategy say selling spreads on some index I approach it like this. Say principal is 50k. I will risk say 5% per week (with an option spread you can pre define maximum loss) with a return of no less than 25% on that risk. So I would find spreads that risked a maximum of 2-2.5k of principal looking for 4-500 in return on that risked amount. The more return, the more likely you dont receive the whole amount as its more likely to be in the money. That also means for every 1 week that gets totally blown out of the water its 4 weeks of winning to make up for it, though theres no guarantees that you wont get blown out for a long period of time with serious recovery necessary. Trading is really hard.

Best advice is not to do it. Second best advice is be prepared to lose money. Paper trade any plan you have for a while. Biggest issue you can have is winning initially, this will make you feel smart, when its just random. Then the market will market and make you aware of reality. Good times.

[The White Coat Investor]

I Find This Humerus wrote:

Zaphod wrote:

Enilod326 wrote:

I Find This Humerus wrote:

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…

I wouldnt have people start with automated trading platforms, or forex for that matter. Although Rofx doesnt use leverage, those are fast ways to get lost, lose money and may not even be the markets some want to trade.

Best way is to use paper trading for a while. This is of course after you’ve figured out how/what you want to trade/why initially, and it will likely change over time.

@Ifindthishumerus What do you think you want to start with asset class and product wise?

Click to expand…

How about to make 100 to 500 a day? Is that feasible?

Click to expand...

100-500? How about see another patient or two?

[adventure]

cgossage wrote:

I did some day trading in my early 20’s. It didn’t go well.

Click to expand...

I did too. I made a good amount of profit. I also learned I didn’t want to do that full time, for ever. Too much work.

[I Find This Humerus]

The White Coat Investor wrote:

I Find This Humerus wrote:

Zaphod wrote:

Enilod326 wrote:

I Find This Humerus wrote:

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…

I wouldnt have people start with automated trading platforms, or forex for that matter. Although Rofx doesnt use leverage, those are fast ways to get lost, lose money and may not even be the markets some want to trade.

Best way is to use paper trading for a while. This is of course after you’ve figured out how/what you want to trade/why initially, and it will likely change over time.

@Ifindthishumerus What do you think you want to start with asset class and product wise?

Click to expand…

How about to make 100 to 500 a day? Is that feasible?

Click to expand…

100-500? How about see another patient or two?

Click to expand...

That's outta my control

[CordMcNally]

I'd recommend finding a hobby (that doesn't risk losing lots of $$$ like day trading) for your days off and doing some light medical reading to stay up to date on your slow days.