Two weeks ago I lost my job.
Today I made $70 day-trading stocks.
It's not a lot but it's not bad for first day.
I was up about $250 at some point but hoped for more.
Then it started going down fast, and I sold with only the $70 in profit.
Could have been worse. Could be just luck; we'll see.
If there's interest we can discuss more about what I did and hope to do in the future.
Today I started Day-Trading stocks. Should you?
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DayTrader007
Re: Today I started Day-Trading stocks. Should you?
Aaaaand a while ago I stopped day-trading.
I'm no authority but it's not like it used to be twenty years ago.
I thing the lone trader has no chance now, with all the big players out to get you.
I think "they" have algorithms to "randomize" everything to an extent that no amount of technical analysis or momentum trading works anymore.
Furthermore in Canada we are hobbled by brokers bought by banks and monopolies that give you less and less data.
One such "trader friendly" broker used to give market maker ID with Level 2 quotes. Not anymore.
The big banks lobbied whoever makes the laws so now we are "protected" by not allowing US brokers to do business in Canada.
SHAME ON YOU BIG CANADIAN BANKS!
So anyway, I think it's impossible to reliably make money on the stock market long term.
I'm no authority but it's not like it used to be twenty years ago.
I thing the lone trader has no chance now, with all the big players out to get you.
I think "they" have algorithms to "randomize" everything to an extent that no amount of technical analysis or momentum trading works anymore.
Furthermore in Canada we are hobbled by brokers bought by banks and monopolies that give you less and less data.
One such "trader friendly" broker used to give market maker ID with Level 2 quotes. Not anymore.
The big banks lobbied whoever makes the laws so now we are "protected" by not allowing US brokers to do business in Canada.
SHAME ON YOU BIG CANADIAN BANKS!
So anyway, I think it's impossible to reliably make money on the stock market long term.
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Mensa
Re: Today I started Day-Trading stocks. Should you?
Since COVID, the markets start to look more and more confusing/crazy.
I found that the knowledge we gained in the last decade or more is utterly useless. Some of my friends say that to survive they either have to completely quit the markets or only do day trading.
These are extremes and against the traditional way of quality investing mindset.
What are we to do? It was not supposed to be a survival game or a game at all.
I found that the knowledge we gained in the last decade or more is utterly useless. Some of my friends say that to survive they either have to completely quit the markets or only do day trading.
These are extremes and against the traditional way of quality investing mindset.
What are we to do? It was not supposed to be a survival game or a game at all.
-
Mensa
Re: Today I started Day-Trading stocks. Should you?
Today, Sep 03 2020 marked a remarkable market correction.
I don't remember the last time when they dropped about 4%. They have been up and up in strange times with US election in Nov and COVID. Markets should not like uncertainties. Yet...
Today would have been a great day for day trader. You got both the volumes and the swing.
Let's see if this correction will last days/weeks or simply disappear (again)
I don't remember the last time when they dropped about 4%. They have been up and up in strange times with US election in Nov and COVID. Markets should not like uncertainties. Yet...
Today would have been a great day for day trader. You got both the volumes and the swing.
Let's see if this correction will last days/weeks or simply disappear (again)