I mean, everyone online says its fast paced and everything, but

Maybe you don't have enough money.

>>1035772
What did you expect? You're watching numbers tick up and down and setting auto sell points to help prevent loss. Yes, it's boring as fuck and compute programs exist to help with it for that reason.

Also, are you "day trading" or actually day trading?

If you don't have 25k in stocks or more right now you are very limited in what you can do. If you're stuck having to hold all stocks for 24 hours (USA laws) before selling then you're in the mock day trader class where it's especially slow and boring. If you're in the 25k and up class where you can buy and sell the same day, it gets more interesting but a lot riskier.

>>1035786
What the fuck kind of law is that lol?

>>1035786
I read a 400 page book on forex and and practicing with 300 dollars. When i get a feel fore it, I will invest alot more.

>>1035788

In layman's terms, the day trading minimum limit is there to prevent uneducated Americans with pie in the sky dreams from tossing their meager 1k life savings at penny stocks and losing it all within a week from bad trades and trade fees because they're noobs. Lawmakers figure that by the time you have 25k in stocks you know what you're doing or can stand some loss streaks.

>>1035790
That's basically the best way to do things as it adds more urgency and ensures you will check back in, though it also means that if you suck you're going to lose actual money.

You can also just "paper trade" where you watch the stocks/currencies/ect every day and "buy/sell" by adding and subtracting on paper. It's basically pretending to do it as a means of learning how to do trading with no risk just in case you suck. On the down side as there's no risk it's easy to forget to do it or get bored and wander off.

Also keep in mind that all currency trading is a "zero sum game". You're going to need to see a LOT of money traded to really have any changes because the world overall is a pretty stable place. Sure, there's good patches and bad ones, but they average out overall making it hard to really gain money. That's not to say it's impossible, it's just not as easy as it looks.

>>1035809
Thanks. Doing this for an hour and 40 now, I have noticed times where it got so boring I wanted to buy in, but decided not to. It messes with your emotion a bit.

>>1035819
Emotion is always a bad thing when investing. Yes, boredom is an emotion. I tend to chat, listen to music or play simple games I can pause at any time to prevent boredom from being killer.

You need to look at trends, not emotions, and try hard not to let "gut" stuff happen.

As a new investor, I suggest learning to spot bubbles and ride waves as a high priority. Sure you know what bubbles and waves are, but seeing them in action is something else. It's easy to get excited when you see those numbers go upward but learning if that's the time to buy or sell is what's important. An hour isn't long. Keep at it almost every day for a few months and you'll get there.

>>1035837
Alright, thank you so much for the advice.

>>1035845
No problemo. Just remember to keep at it almost every day for at least 3-4 hours a day or just cash out.

If you find it's too boring, you can't keep up, you keep forgetting to check in, or you're losing your shirt it's best to cash out as to minimize loss. Don't toss money in if you're losing badly. Paper trade instead so you can keep learning until you stop sucking. Doing it every day even if you don't see big changes (and you won't as you're small time forex) is the only way to really improve. Books only go so far.

On the topic of day trading, I recently started a new job at a brokerage firm. We use Thompson One and I have it in front of me all day. I am not allowed to place trades (buy or sell) at anytime, except for 2 15 min breaks and lunch which is 30 min.
Is it viable to trade intraday with such restrictions?

>>1035772

Depends on your trading style. I use algorithms to make several trades a minute. It's fast paced and exciting.

>>1035871
Yes, but shoot for the long game. Don't try to do actual day trading as you won't flip fast enough. Use your awesome software to research and watch overall trends then buy things you intend to hold at least a week before selling. This way your limited sell/buy windows shouldn't impact you very much and you can still have great tools at your disposal. Make sure to set your orders while you're there, don't just buy/sell.

Also paper trade for awhile until you've been there a few months to help you get started as smoothly as possible. Paper trading is always free and can be done in a sheet of notebook paper while actually trading for others.

>>1035889
i was hoping to do some day trades with about 10k in a schwab brokerage acct...will i be able to buy sell same day? sorry i am new to this and just want to get a feel for making a little profit.

Say my account is denominated in USD and I want to buy USD/CAD, does that mean I have to make my buy leveraged at some ratio in order to actually get more USD/CAD when it goes up or what?

>>1035959
>get more USD/CAD
Get more USD*

>>1035772
I'm more of a swing trader. The only time it becomes day trading is if there are multiple swings a day.

Some times I'll only make 1 or 2 trades a week, especially with current market conditions, but that's all I'll need to make a killing on the runner I do catch.

>>1035798

and yet they let any shitter with about 5k trade futures
dont get me started on forex...

>>1035977

Wait they do what? Are you serious?

>>1035984
They do exactly what he said. Yes he's serious.

trading is incredibly boring, stressful and tedious. if you were expecting to wear suspenders and smoke cigars all day you're probably in the wrong field.

>>1036351
What's to stop me from doing that while I trade?

>>1035977
Hilarious.
I traded equities for 5 years before I applied for futures. For some reason, I thought the requirements were stricter.

>>1035917
With only 10k in the USA, nope. Uncle Sam says "no". Wait till you hit 25k to do same day buy and sell. Just do the week long investments if you want to go fast and work your way up from there.

>>1035959
Typically currency is converted before the trade goes through. If the rate goes up, what you get changes accordingly.

>>1037464
Are you trading for yourself?
Because you're familiar enough with the rules.

>>1035786
You're kind of spreading misinformation. That law only applies to people trading on margin. If you're using your own money, you are not required to hold a stock for any amount of time.

>>1037774
>That law only applies to people trading on margin
Which law is this?
All I do is trade on margin.

>>1035984
Pattern day trader rule doesn't apply to futures, and the futures markets are open for a lot longer each day than the stock market.

>>1037863
If you needed a better example of rules not regulating what they're supposed to, there it is.
I guess it's because the SEC has no control over what goes on with commodities.
Of course, a lot of people would argue with the 25K rule to begin with.

>>1035772
Forex is more fast paced. When u put 10,000 in it reminds me of bitcoins volatility back in late 2012 :)

>>1035798
>>1037464

This isn't entirely true. FINRA's pattern day trading rules only apply to margin accounts.

They also allow up to 4 round trip day trades per rolling 5 day period without being classified as s pattern day trader, thus not requiring 25k equity.

So, in reality, you can day trade with less than 25k USD. You just can't round trip more than 4 trades in a week.

>>1035837

Thanks for this advice man. Gut feelings are the worst, fucked me over a few times in life.

File: doge.jpg (65KB, 426x612px) Image search: [Google]

65KB, 426x612px

>>1035772
https://www.youtube.com/watch?v=Dh-f6puItw0

>>1037953
>So, in reality, you can day trade with less than 25k USD. You just can't round trip more than 4 trades in a week.
Anyone who would sacrifice their trading plan to some arbitrary measure of frequency has already lost.
Fuck handicapping your trading like that.

>>1037988

Uhh, what? You can profit just fine with the pattern day trader rule

>>1039046
Providing you don't get comfortable trading one stock by learning how it moves.
Why do you think they made the rule?