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  1. #1
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    Day Trading

    Any day traders on the forum? Since it appears my hiatus from gainful employment is going to last longer than I thought.I've decided to dabble in day trading as a hobby and if Iím lucky enough, make a few sawbucks while Iím at it.

    Iíd appreciate advice anyone would care to share.


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    No help here, just a note about someone I know that did DT. Years ago my boss quit work and stayed home to DT. He had all the hardware and software set up. Running two PC's and two monitors to watch the ticker tape live. Hot line phone to call his broker.

    He only lasted two months at DT and got another job. He said his nerves/stomach just could not stand it.

    One day he would be up $20K and two days later, he would be down $22K. He told me that a person should only DT what money they have, that if they lose it.....will not cause them financial ruin.

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    Quote Originally Posted by East of the Beast View Post
    Any day traders on the forum? Since it appears my hiatus from gainful employment is going to last longer than I thought.I've decided to dabble in day trading as a hobby and if I’m lucky enough, make a few sawbucks while I’m at it.

    I’d appreciate advice anyone would care to share.
    only buy what you would be proud to own. for you just might " get stuck with it "

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    Just my opinion: Day Trading was all the rage a while back. Everyone was talking about it & seemingly everyone was doing it. Fast forward a few years & nobody is really talking about it and I haven't heard anyone saying that they were doing it in forever. So & this is nothing but an opinion If people were making REAL money at it they would still be doing it & talking about it. So I'm betting that what happened is that they couldn't beat the system for even medium term & most of them lost their asses.

    I believe that the stock market is impossible to win against in the short term because it reacts to fear & greed which are emotions. I would never invest in the SM for less than 5 years. I do think long term you can make a hell of a lot of money in it IF your money isn't all in a small basket. And day trading isn't short term it's ultra short term & the odds are that you are investing in a ultra small basket. I've been in the stock market for about 30 years now & I've ridden every single down tern without moving even 1 cent out of it (the last dip I was don't 85 thousand for a short period of time). Yet day trading scares the hell out of me.

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    If you want to day trade look into stock options. You have to keep it light till you can handle the pressure. Never buy more than a small percentage of what you can afford to lose. It's a lot of fun if you don't it let keep you up at night. TD Ameritrade has all the software you need for free. Don't try to make a living at it. That takes years of experience with some hard knocks. A lot of fun if you keep it light. Don't take any courses or get sucked into to buying any software.

    BTW
    Don't think of it as "day trading", instead think in terms of "short term" trading.
    Last edited by Big Bird; 04-22-2019 at 10:12 PM.
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    Day trading can work, in a market controlled by fundamentals.

    This market no longer is. It's controlled by whim of the Fed - the Daily Question, is, is the Fed going to go "hawkish" (let interest rates rise to market levels) or "dovish" (more QE and ZIRP)

    Stock prices are, of course, driven by demand. When you have former blue-chips like GE BORROWING, HUGELY, to buy back shares....and you have the major banks, and the Banksters, pouring Fed money into BUY orders for their proprietary accounts...and you have companies like Snap and Tesla RISING, while they LOSE money...you can't predict that.

    I do believe the Banksters will engineer a crash, two months before the 2020 Election. Maybe sooner and slower...but they can do it. Just dump their proprietary accounts - the same way JPMorganChase drives down the gold price by dumping gold-derivatives at three in the morning, when the price rises too much.

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    Quote Originally Posted by Big Bird View Post
    If you want to day trade look into stock options. You have to keep it light till you can handle the pressure. Never buy more than a small percentage of what you can afford to lose. It's a lot of fun if you don't it let keep you up at night. TD Ameritrade has all the software you need for free. Don't try to make a living at it. That takes years of experience with some hard knocks. A lot of fun if you keep it light. Don't take any courses or get sucked into to buying any software.

    BTW
    Don't think of it as "day trading", instead think in terms of "short term" trading.
    I am not going all in or anything like that .I'm keeping it at a minimum.And if I lose it I won't feel it. Much like going to a casino.Never take more than you are willing to lose. Just got bored and saw an E*Trade ad and thought what he heck.


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    Quote Originally Posted by JustPassinThru View Post
    Day trading can work, in a market controlled by fundamentals.

    This market no longer is. It's controlled by whim of the Fed - the Daily Question, is, is the Fed going to go "hawkish" (let interest rates rise to market levels) or "dovish" (more QE and ZIRP)

    Stock prices are, of course, driven by demand. When you have former blue-chips like GE BORROWING, HUGELY, to buy back shares....and you have the major banks, and the Banksters, pouring Fed money into BUY orders for their proprietary accounts...and you have companies like Snap and Tesla RISING, while they LOSE money...you can't predict that.

    I do believe the Banksters will engineer a crash, two months before the 2020 Election. Maybe sooner and slower...but they can do it. Just dump their proprietary accounts - the same way JPMorganChase drives down the gold price by dumping gold-derivatives at three in the morning, when the price rises too much.
    I'm thinking I'm going with things I know, like gas and oil.My thinking is with the spigot from Iran being shut-off,that forces more production here.I'm familiar with a couple of mid stream companies,one I worked for.We'll see how it goes.Again just a minimum investment.It is as much about entertainment as it is about making money.
    Last edited by East of the Beast; 04-23-2019 at 04:33 AM.


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    Quote Originally Posted by East of the Beast View Post
    I'm thinking I'm going with things I know, like gas and oil.My thinking is with the spigot from Iran being shut-off,that forces more production here.I'm familiar with a couple of mid stream companies,one I worked for.We'll see how it goes.Again just a minimum investment.It is as much about entertainment as it is about making money.
    in that case, my i suggest exploration companies that have very low debt, or the ability to pay it back quickly, who will be needing to make game changing 24IPs who are about to spud a well in a historically good formation who most have bypassed recently for the " todays everybodies fad "
    Last edited by jirqoadai; 04-23-2019 at 05:11 AM.

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    qualifying companies; going after 50+ mmcfd. with their own war chest. make the throwing of darts fun to research, while making your own playing rules to follow.

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