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Day trading

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Thread replies: 62
Thread images: 4

Is it hard to make $20 000/year from day trading? It's all I need to live. Can any schmuck who's studied it enough make that much? What books do you guys recommend for beginners?
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>>1742265
just started half way through last year, made 25k this year alone already
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>>1742265
Yes, it's hard to make money trading. Don't quit your day job.
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>>1742265
>Is it hard to make $20 000/year from day trading?
no. everyone is doing it. that's why you don't see poor people or homeless on the streets. just go to forex factory and read all the success stories there.
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>>1742268
>>1742265
I have $30k to trade btw. Why do you say it's hard though?

>>1742267
Nice. How capital did you have to trade with?
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>>1742265
Its basically gambling. Dont fall for surivors fallacy
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>>1742278
There's survivor's fallacy and there's having a 30 year long successful career as a day trader. I don't believe day trading can be equated to gambling. I'd liken it more to playing poker, where quite a bit of skill (but also some luck) is involved, and you can stay profitable as long as you don't push your boundaries. If you push past your comfort zone you either lose it or all or make out like a bandit.
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>>1742287
I realize this post is retarded and what I said is precisely what survivor's fallacy is. I still don't believe those who made it got there through luck. They had skill and knew how to control their emotions. I'm not talking about making hundreds of thousands per year with a $30k account. Just a minimal living.
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>>1742294
through luck alone*.
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>>1742265
>Is it hard to make $20 000/year from day trading?
no
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>>1742357
How do I do it?
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>>1742265

I make about 50-60$ a day with 4K, it's a nice supplement to my dayjob and it pays my rent.
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>>1742405
Did you study a lot beforehand?
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>>1742413

Not really, I just had a whole bunch of marijuana stocks in my google watchlist and studied their patterns for 5 months.

When they consolidate, I buy low and sell a few cents high.

Everyday, I'll put a buy order a cent and a half below the price and wait a few minutes until my order is filled and then sell half a cent over, my order gets filled and presto.
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>>1742427
So really it's about knowing a particular stock really well and trading based on the patterns?
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>>1742433

yup
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>>1742265
i know one single person here that made like 1-2 million USD just from trading crypto but nobody else. he had an inheritance and was there at the right time so he just made shit loads, way more than anyone else i've seen.
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>>1742265
It's easier to lose 20k a year day trading than it is to make 20k a yead
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>>1742358
go long on 3x margin with $20k on Bitcoin , you'll make that much in less than 12 hours.
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>>1742265
I make more sports betting in Aus, if you're into any kind of sport I recommend
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>>1742265
I believe its possible to have positive results trading, but it requires a huge commitment to learning and studying the charts for many many hours.
I believe that there are no good books to learn from and that the water that everyone is drinking from the well is poisoned. So you have to not drink from the poised well and invent your own strategy. You have to build a strategy that suits you as in something that fits your personality.
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>>1742474
Just go to a casino you degenerate fuck
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>>1742501
Casino has an edge, btc doesn't.
Now kys.
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>>1742265
Maybe you should try a teacher. I studied with Sean Dekmar, he's a really nice person and for 60 bucks a month he teaches you how he day trades and gives you really nice plays with entry and exit points. His win rate is around 79-82% depending on market conditions. If you spend the whole month there trading you'll likely hear everything he has to say then you can go solo if you want.

30K is a huge amount though, probably won't want to make that each all in trade, 5K a pop is okay, he plays stocks that make 10% moves.
>>
I have so far sunk in $2000 over almost one whole year of trying out day trading as a hobby. So far i'm up 51.1% on the year, or around $1,042 dollars.

Is this great? Ehh.. I made a lot of dumb mistakes, panic buying/selling, not being confident enough in my calls to lock profits, or set a realistic stop loss.You'll make bad decisions sometimes but I've learned that everyone still makes them, it's what you learn from your mistakes is what makes you better.

Starting the new year with an extra thousand feels nice.

My calls:
CARA, INSY, SQ, GIG

Also who called SSH?
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>>1742531
Here's my YTD
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>>1742265
You have $30K and want to make $20K?
Did someone tell you 66% was a realistic goal?
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>>1742541
What do you want us to say? 50 % return is amazing. But go learn options if you only have 2k to spend
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>>1742474
> high volatile investment
> go 3x margin

I love /biz/
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>>1742487
best post
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>>1742810
dumb, he doesn't have the money for that yet you goof
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>>1742840
why not ? Options are cheap and you can choose the timeframe yourself. I don't see why this wouldn't be a better solution for someone with little cash.
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>>1742464
only if youre on margin trading..
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>>1742427

You just inspired me to try this out. I'm adding a bunch of weed stocks to watch and from what I understand I should know the patterns down to the very minute of consolidation?
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>>1742479
which websites/brokers would you recommend? The australian open has gotten me really interested in sports betting. what sports do you bet on?
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>>1742265
>Is it hard to make $20 000/year from day trading?
not if you already have $200,000
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should i play super fast on futures by the tick chart?
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>>1742275
Well poor people don't have money, how they gonna get into trading? :B
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>>1744028
They don't.
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>>1742277
DO.
NOT.
DAYTRADE.
STOCKS.

First, 30k is the minimum. It takes a lot more than that. The rules are federal.

Second, New York (Actually Mahwah, NJ) is a pit of front-running, data stealing vipers. They fleece new guys for a living.

Now:

Trade futures on CME. 5k entry. 50Xs leverage. Total transparency. Level playing field.

But until you have a comprehensive theory of price change, don;t do anything. You need to understand why price changes in a risk asset.

Why does price change in a risk asset?
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>>1742817
If you want to be a proper degenerate there's 100x bitcoin futures at bitmex.
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>>1742487
This.

Took me four years of live trading forex with endless studying to make a living with it. It was only possible because my wife paid the bills while I learned. I busted two accounts and learned real hard lessons. I suggest reading everything you can get ur hands on and when reading realize in a whole book you may get a few nuggets of useful live trading info. Also trade with demo accounts for a good two years before risking money and don't quit ur day job unless ur a neet or have someone to carry you.
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>>1744076
tell me more on futures
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>>1742265

>this thread
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>>1742841
Options are also gambling, and I, for one, wouldn't gamble with more than 5% of my portfolio. That gives him 100€ to play and potentially loss. Well.
>>
Just open a x50 leveraged Forex account
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>>1744076
50X leverage?

You're trolling right?
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>>1744439
see

>>1744436
>>1744076
>>1744250
>>1742474

great minds think alike
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>>1744397

Any book recommendations?
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>>1742541
Not bad. Personally I have achieved slightly higher returns, if you adjust for the balance carried on my portfolio (~67%).

I wouldn't get ahead of yourself, you have much larger downturns than I had, and I don't consider myself a great trader. Just imagine how hard you would get drilled during a recession.

Learn to control risk better and get more experience before you even consider going full time.
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>>1742265
if you approach it methodically and create well defined boundaries then it's totally safe and profitable.

sounds easier than it actually is though. you will absolutely fail but if youre smart, careful, and persistent you might eventually figure out how.
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Started playing with stocks and researching the game. Any tips
>whats the best ebroker and market watcher
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>>1742265
Forex and similarly leveraged products (indices) are your only real way in without being halfway rich already.

You shouldn't ask "Is it hard to make (amount of money)", you should ask "Can I consistently make trades within the boundaries of this instrument?". If you hit a draw-down level of 40% but recover, bounce back to +80% or whatever, it doesn't matter. It's all method, and that is something you'll have to personally work out. Leveraged products work with a points system basically, it changes with product but the basic fact is that it'll scale with any amount of money. If you have $1000 you can make 1% of that, but you can do the exact same thing to make 1% of $100000 as well, so all you need to do is trade consistently.

I recommend reading libgen io/get.php?md5=B5FAF71C9896B82324D5E90BB4131F9C&key=ESOZ77SB37IRH40I
(Add the dot in there, it's "Trade Your Way to Financial Freedom" by Van Tharp)

Those who fear margin are probably 60-year olds that can't into computers. It's really a trivial part of modern leveraged trading, managing your risk through stoplosses and proper position sizing. It depends on platform used, but some even show right the interface (adjusting as you change stuff) exactly what you risk from putting on a trade with a certain size, and how it affects your stop/limit.

I recommend reading that book, getting the basics of forex and PRICE ACTION down, and then trying a demo account with a broker that has a decent client. Demo until you're good there. Real trading is the same, only your nerves will be tested because you're dealing with real money (there's execution technicalities as well like liquidity, but that's not really a concern with forex).

Demo, demo, demo. Limiting risk is priority #1.

>>1742531
Owning stocks outright is for suckers. At least do options. Don't do fucking stocks, jesus christ this isn't the 90's, there are so many better choices out there.
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>>1742265
Yes and no, only invest other people's money
>Gambler's fallacy
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>>1744492
what's wrong with stocks?

>>1744503
But then not only have you lost the money but you'd got debt to go with it.
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>>1744492
>Owning stocks outright is for suckers. At least do options
Yeah, that way, when the options expire and you don't have shit, you can start over.
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>>1742975
M8 any broker that will take your money. I don't use a bullshit strategy, I just be on a game I know, 26 weeks out of the year. Head to head only.

I treat it the same as buying stocks really.. If i see something thats basically a guaranteed win (say Newcastle vs Cowboys) cowboys for $1.10 or whatever it may be. Put $1000 on cowboys, $100 profit.

Do it each game, less money on riskier bets, try to average $100 profit a game for $800+ a week (assuming you got 100% right, which you won't.) But last year I had an 80% win rate which isn't too bad.

Shit even if you just pick the favourite and adjust your bet accordingly you'll probably profit. Like I said, pick them like stocks, if you know the game and teams, read up on who is injured, who's been playing like shit, who's been in the headlines and is likely to have their play affected, you can make a good decision and if you see a team you think is going to win and is paying high, consider it a value buy.

Shits easy a fuck, you just have to know what you're betting on and why. I made a bit over $8k last year but didn't have much starting capital, this year I'll have double the capital to start with so im looking forward to the season starting.

I mean, it ain't gonna make you rich at this level (starting with $1000) but them gains are decent.
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>>1744570
Thanks for the info, i'm really keen to get started. I've been paper betting for a couple of weeks doing just as you said, betting on the favourite, and i've pretty much won every bet. seems to be a good approach, and I love sport so that's even better.
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What's a broker and do I really need one.
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>>1744876
Oh boy
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>>1744876
Broker like a person, or a brokerage?

This is bait, right?
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>>1744876
firstly, get off this website and maybe do some research.
Thread posts: 62
Thread images: 4


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