Day trading

>> dumb idea

>>1663127
It's very risky, especially if you trading on margin. If your stock drops too far, you won't always be able to ride the wave unlike if you just outright owned it. 90% of day traders lose money in the long run.

If your serious be sure to buy lots of displays for the graphs.

>>1663143
Currently have my pc hooked up to 2 55 inch displays.

Finding out I actually have some family connections with people who are good with this kind of thing and I'll be consulting them on advice in the near future. I was just curious if people here have much experience in this kind of thing.

Just bs'ing with my uncle, he's told me his guy got him about 30k on his stocks in the last 4 months

imo if you want to day trade you should look into options and not stock market. There's a very good book written by John Hull that explains the basics of option pricing.
Why options you may ask? Because with options you can develop almost any kind of strategy you want, and you don't have to just guess whether a stock value will just go up or down (and if you're bad at speculation then your guesses will be as good as flipping a coin)

sorry for bad englando

>>1663127
no, it's not a dumb idea. follow your dreams.

go balls deep with your 23k only if you don't/can't pull the other 18k. maybe try to apply for a bank loan for as much as you can, and start with enough capital. most people that fail are just undercapitalized.

>1663190

and by not looking at the stock markets i meant not buying direct stock, invest in derivatives instead

>>1663127

>dumb idea<

Yes. Look into common return rates.

>>1663165
>Just bs'ing with my uncle, he's told me his guy got him about 30k on his stocks in the last 4 months

not really going to help you much as far as day trading is concerned

realistically you're highly likely to fail

if you've got family connections then use them to get you a well paid job at an established firm - though it won't likely be trading related

as far as 'daytrading' or marketmaking is concerned it is either done by HFT algos or (in the case of options) by some very smart people who have genuine talent for it - if you want to be one of those people then you're going to have to go through the battery of tests at optiver, jane st, sig etc.. like everyone else and even then there is no guarantee you'll last more than a year or two

so just to reiterate family connections aren't going to help you much in this area - if you've genuinely got some that are worth anything then use them to get you some other job in financial services

>>1663190
>There's a very good book written by John Hull that explains the basics of option pricing.


If he wants to trade options then he'd more likely want:

Dynamic hedging by Taleb

Option volatility and pricing by Natenberg

also Option trading and Volatility trading - both books by Euan Sinclair


also some books on market microstructure and the various resources on the relevant exchange websites (CME, ICE, Eurex etc..)

>>1663505

but again... if he wants to learn this he needs to go to a firm with people who already do this successfully for a living using the firm's capital (not some shitty daytrading outfit)

he can go solo and rent a desk later or set up his own team/firm if he's got the right people to go along with him 10 years down the line but initially, starting out, you'll just get slaughtered if you've not got the infrastructure and experienced people around you. Connections count for very little here - degrees/education only count to a limited extent too in so far as having a more prestigious one gives you a higher chance at the initial tests/interview at some shops.... Others will allow masses of people to attempt the first stage and cull quite quickly after that...