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Forum nameGeneral Discussion
Topic subjectI don’t know how daytraders do it
Topic URLhttp://board.okayplayer.com/okp.php?az=show_topic&forum=4&topic_id=13348704
13348704, I don’t know how daytraders do it
Posted by legsdiamond, Mon Sep-23-19 11:00 AM
I’m on this M1 and this shit got me heated. Watching that shit 5 times a day. Up, down, up down..

I have to put this app in a folder.

I know this shit is like Method Man torture. See your asshole closed and keep feeding it and feeding it
13348706, Daytraders do it this way: LOSING
Posted by handle, Mon Sep-23-19 11:04 AM
A bunch of gambling addicts who lose their shirts and worship AND hate the 5% of daytraders than can eek out a living.
13486584, ^
Posted by spades, Thu Jun-15-23 11:43 AM
13486609, I was going to reply but dude already said what needed to be said
Posted by Rjcc, Thu Jun-15-23 02:32 PM
years ago

www.engadgethd.com - the other stuff i'm looking at
13348710, If you are doing stocks then no.
Posted by hip bopper, Mon Sep-23-19 11:49 AM
That’s more of a buy and hold strategy, and hopefully you chose a stock that pays a dividend.

Binary options and forex are the only viable day trading options. Futures are good too, but it’s best to have an account manager for that.

13348726, I’m buying and holding long term
Posted by legsdiamond, Mon Sep-23-19 12:24 PM
But in the past when I had a 401K i rarely looked at it. I would see gains most years and losses some years or breaking even..

But with M1 I can see that shit in real time.

I just have to stop looking and keep feeding it.

I don’t know enough to buy individual stocks and buy and sell them quick fast.

13348739, Like Bopper said Options Futures and Forex are best for day trades
Posted by Atillah Moor, Mon Sep-23-19 12:55 PM
Swing trading traditional equities seems like a better route. Options is where it's at though imo
13348740, I could never day trade.
Posted by legsdiamond, Mon Sep-23-19 12:58 PM
I’m a buy and hold type of guy.

I’ve just been watching my holds daily and it’s stressful.

Need to set it and forget it.
13348827, Yeah man if that's you're strategy set it and forget it
Posted by Atillah Moor, Mon Sep-23-19 04:53 PM
13348754, Exactly
Posted by hip bopper, Mon Sep-23-19 01:29 PM
>But in the past when I had a 401K i rarely looked at it. I
>would see gains most years and losses some years or breaking
>even..
>
>But with M1 I can see that shit in real time.
>
>I just have to stop looking and keep feeding it.
>
>I don’t know enough to buy individual stocks and buy and
>sell them quick fast.
>

Which is why stocks that pay dividends are the best option for long term growth as well as establishing a supplemental income.

Have you though about rolling over your 401K into an IRA and move about 10-20% of the cash into gold or silver?

If you switch over to forex, options, or future and let a firm manage it, then it will relieve a lot of the anxiety that comes along with trading.

13486593, i started learning forex and HFX right before covid hit
Posted by mikediggz, Thu Jun-15-23 12:57 PM
IMO there is nothing like it. i havent been making alot of money because i work full time and i dont really have the energy to do much of anythg when i get off work...but ive actually learned this shit pretty good over the last couple of years. this will probably be my last job.

theres alot to it tho alot of ppl give up on it and i completely understand why...i just see the big picture. this is white boy/wall street type of action/money...its not for everybody
13486610, lol no it's not
Posted by Rjcc, Thu Jun-15-23 02:33 PM

www.engadgethd.com - the other stuff i'm looking at
13486614, thanks for your deep insight brother.
Posted by mikediggz, Thu Jun-15-23 03:04 PM
13348831, How do you like M1 so far?
Posted by dustin, Mon Sep-23-19 05:27 PM
I tried it last year but I turned off the auto re-investing feature and just created my own pie. I've since pulled out my cash (needed the liquid funds). I thought it was pretty cool overall and plan to throw some money at it when I'm able to again.
13348883, Shit is awesome
Posted by legsdiamond, Tue Sep-24-19 10:16 AM
It makes me want to learn more about investing and buying stocks.

I’m using the expert pies right now.

I rolled a 401K into a roth and I also started another one with a hundred and throw $10 at it every 2 weeks. I want to make sure I don’t liquidate or dip into it so I didn’t put much in it to start.

13348832, Heres how they do it
Posted by Kira, Mon Sep-23-19 05:29 PM
https://learnplanprofit.net/welcomepage

Use this and research better. Its still too much work so I feel you.
13348980, Fam. This looks like a scam site
Posted by legsdiamond, Tue Sep-24-19 02:34 PM
13348880, r/wallstreetbets/
Posted by double negative, Tue Sep-24-19 09:54 AM
before you get your dick wet consider reading:

The Intelligent Investor
https://www.amazon.com/The-Intelligent-Investor-Rev-Ed/dp/B00V7328GS/ref=sr_1_6?crid=3PQTBQG89RF13&keywords=securities+analysis&qid=1569336724&s=books&sprefix=securities+ana%2Cprime-instant-video%2C127&sr=1-6

it's dry as fuck, old, boring. But, its the foundation Buffet built his empire on.

For the love of god, stay away from options.
13348882, My favorite book
Posted by hip bopper, Tue Sep-24-19 10:08 AM
>before you get your dick wet consider reading:
>
>The Intelligent Investor
>https://www.amazon.com/The-Intelligent-Investor-Rev-Ed/dp/B00V7328GS/ref=sr_1_6?crid=3PQTBQG89RF13&keywords=securities+analysis&qid=1569336724&s=books&sprefix=securities+ana%2Cprime-instant-video%2C127&sr=1-6
>
>it's dry as fuck, old, boring. But, its the foundation Buffet
>built his empire on.
>
>For the love of god, stay away from options.

Options are the way to go.

13348890, I've been reading it for the past...3 years?
Posted by double negative, Tue Sep-24-19 10:52 AM
I actually find it to be super interesting but I get into modes where I'm deep in it, then some life shit happens (sick kids, work really picks up, etc) and then I put it down and then its hard to get back into that learning state again


I say stay away from options because its a dangerous game. While it is possible to really make some money and its where the money is made, its a lot like driving a sports car without doors, windshield and seatbelts. Oh, you will be thrilled, hear the engine and feel the wind, but if you crash...you stand to lose everything.
13348896, RE: I've been reading it for the past...3 years?
Posted by hip bopper, Tue Sep-24-19 11:25 AM
>I actually find it to be super interesting but I get into
>modes where I'm deep in it, then some life shit happens (sick
>kids, work really picks up, etc) and then I put it down and
>then its hard to get back into that learning state again
>

It’s has been and will always be a constant reference point for me. You will always stay reading that book.


>I say stay away from options because its a dangerous game.
>While it is possible to really make some money and its where
>the money is made, its a lot like driving a sports car
>without doors, windshield and seatbelts. Oh, you will be
>thrilled, hear the engine and feel the wind, but if you
>crash...you stand to lose everything.

Options are the way that the wealthy get their money. You do have to put constant time and effort into learning how to effectively trade them. If you ever do then your wins will far outweigh your losses.

13348911, 1. #facts 2. scared money don't make money.
Posted by double negative, Tue Sep-24-19 12:21 PM

>Options are the way that the wealthy get their money. You do
>have to put constant time and effort into learning how to
>effectively trade them. If you ever do then your wins will
>far outweigh your losses.


oh, I agree all the way. The problem is most people don't put in the time to read through those 10-k and 10-Q statements and will YOLO their 401k off a gut feeling or watercolor chatter or "because you know, Netflix content is getting stale, I should have a short position".
13348941, Exactly
Posted by hip bopper, Tue Sep-24-19 01:12 PM
>oh, I agree all the way. The problem is most people don't put
>in the time to read through those 10-k and 10-Q statements and
>will YOLO their 401k off a gut feeling or watercolor chatter
>or "because you know, Netflix content is getting stale, I
>should have a short position".
>

Which is why people shouldn’t do any investing if they haven’t done any reading or research of their own.

13348945, I mean... the content has been lagging lately lol
Posted by Atillah Moor, Tue Sep-24-19 01:22 PM
13486547, has anyone had any recent success with this? anybody use Robinhood?
Posted by ThaTruth, Thu Jun-15-23 08:36 AM
13486565, I bought Tesla at $95 and cashed out some when it hit $275
Posted by legsdiamond, Thu Jun-15-23 09:51 AM
but most of my individual stock purchases did not do well. Granted its when I was chasing shit late during the pandemic.

but my Berkshire funds have been popping.

Best bet is to buy some ETF’s and let it ride.
13486578, so you buy stock, but not necessarily a full blown day trader?
Posted by ThaTruth, Thu Jun-15-23 11:12 AM
13486582, hell nah.. I have a full time job. No way could I day trade
Posted by legsdiamond, Thu Jun-15-23 11:34 AM
and no stones or capital for that type of stress



13486598, Daily retail loss of $358,000 on 0DTE options since 5/16/22
Posted by Sponge, Thu Jun-15-23 01:31 PM
"Between February 2021 and February 2023, retail investors lost $184,000 on the average day; since the introduction of a daily expiration calendar in May of 2022, this number has grown to average losses of $358,000 per day."

Research data from Jan '21 to Feb '23 says retail traders lost $70mm on same-day options.

Retail traders lost $4 billion on options trading from Nov' 19 to Jun '21.

https://www.wealthmanagement.com/equities/retail-investors-are-love-same-day-options

13486632, I sold JOBY as soon as I made any profit…
Posted by DJR, Thu Jun-15-23 05:40 PM
and that was like a little over $5.00, and now it’s damn near $8 a few weeks later. It’s some flying car company or some shit.

I was so conditioned to losing after the last few years that I jumped the gun, smh.
13486608, unless you were doing calculus in 5th grade
Posted by fif, Thu Jun-15-23 02:24 PM
you will lose money. almost all the people who make money doing this sort of thing were born very good at math and were funneled through elite institutions. for the rest of us, it's gambling
13486630, Actually it's quite easy, allegedly NOT FINANCIAL ADVICE
Posted by Kira, Thu Jun-15-23 05:18 PM
This is for entertainment purposes and not financial advice just an opinion.

It's really easy actually. Let's say ampe trades sideways between 50 and 60 cents. Someone buys 10K of stock at 50 and trades at 55 then exits. It drops to 50 and they buy in with those profits, it rises to 56 sold at that point before dipping back to 50. Rinse and repeat.

None of that is financial advice just an opinion.
13486642, Have you ever done it actively?
Posted by ThaTruth, Fri Jun-16-23 07:06 AM
13486693, Yes, stocks and crypto.
Posted by Kira, Fri Jun-16-23 01:26 PM
Built a 4K portfolio of memecoins built off 20 cent positions.

Stock side was easier because everything as discounted. Imagine a stock soaring from 50 cents to $1. It's a large profit if you invest right.
13486699, What is that crypto portfolio worth now? Honestly asking
Posted by ThaTruth, Fri Jun-16-23 01:58 PM