So day trading.. Im currently working at a 8 dollars an hour,

>>1853792
I lost 7k day trading. Unless you have a team of genius PHD's and millions of dollars worth of supercomputers and algorithms so you can develop and trade using HFT techniques don't bother. You're better off investing in the S&P 500.

I've lost 7k also, strangely like anon above, but my last 5 trades have been winning ones ~500 each

Even on the 7k I lost, if I had just been more disciplined and taken my 200 shekels while I was up, those all could have been winning trades

I think I'm learning how to do it, but I definitely don't think you should be day trading if you make 8/hr. If you are day trading, you should *expect* to lose every single penny you put in the market, and if you are making 8/hr that's not something you can afford to do, sadly

don't day trade, just trade.

put your 5k in blue chips and if you want to experiment with day trading use a paper account.

https://www.youtube.com/watch?v=4wsYMdMzZsM&index=4&list=PLGixrI-FwaMmWkrSmgeMHmqvG7qcrrgTp

>>1853928
Replace the word 'you' with 'I' and your statement is correct.

>>1853792
Keep in mind that 90% of people lose, so you're going to get alot of salty replies from failed traders and those that are too scared to try and try to rationalize the granny-gains from their index funds screaming "You can't beat the market! Markets are efficient! I read 'A random walk down wallstreet'!"

These people are the ones paying my rent.

You can make day trading work if you take the time to do your research and if you set hard targets. There's more than one way to skin a cat, but all strategies involve making more than you lose. Paper trade for a few weeks to establish whether you're going to lose a lot but win big on a few moonshots, or have a lot of wins with small individuals payoffs.
Compound interest is your friend. 0.1% a day over 252 trading days annualizes to a 28% gain, and that's what plenty of professionals aim for.
Some days you're going to lose your ass, so you cannot under any circumstances panic or rely on your trading account for weekly income. And understand that markets can fundamentally change in short periods of time, so be aware that your strategy may fall apart overnight.

scalp jnug/jdst
no joke, you'll make it

>>1854312
your forced ambition and arrogance isn't going to make you money.

>>1854303
>that fucking accent
please kill me now

>>1854287
>Even on the 7k I lost, if I had just been more disciplined and taken my 200 shekels while I was up, those all could have been winning trades

you can say that about pretty much any market when ranging, it means nothing, with random entries you might well be in profit for a a bit and at a loss later or you may exit then see a rise etc..

unless you have a crystal ball it isn't much help, taking profits too early won't offset your losses if you keep holding trades until they come into profit...

none of this has much to do with discipline etc.. but having an actual strategy that gives you an edge.

>>1853792

https://www.plus500.co.uk/

You can trade for free with pretend money here. Get a feel for how it works and learn some stuff. Do it for a few months and if you're making profit put your real money in.

Only trade with what you can afford to lose.

>>1854419
You KNOW there are retail traders out there making money, albeit the minority. So don't project your failure.

It's like a failed musician saying "You can't make money from music"

Scalping is truest and only way to go. Use purely market orders so the robot doesn't fuck your (((((stoplos))))) who cares if he scalped fraction of penny on you

>>1856365

I forbid anybody from listening to this anons advice

>>1853792
You can't day trade stocks with less than $25k.
You also won't make any money day trading without experience.

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>>1856365
Truer words have never been spoken.

>>1855623
>taking profits too early won't offset your losses
>none of this has much to do with discipline etc

Due to my own previous experience and discipline, I made $100 on JDST rather than losing 2k

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>>1856638
discipline, patience.. etc ... none of these matters. if anyone talks with psychological barriers related to day trading they have no idea what they are talking and probably zero experience of trading.

algos trade for 90% of private individual traders these days. market edge is your only worry, no human emotions lol

>>1856427
open cfd account - set to go. 1 dollar to 1 million, you choose. so i dunno what are you talking about.

>>1856849
>private individual traders
>algos

i thought algos costed $$$. and i dont know a single person who trades with algo. algos aren't super advanced artificial intelligence you see in movies. thats a misconception from people who make excuses for losing money. they're actually made to do very simple things

>>1856849
Day trading does need discipline and patience.

You need to remove yourself from the moment and see the bigger picture on both sides.

You're just 110% wrong.

>>1856365
Tell me your ways. I've come to conclude this but what do you mean pennies you make a really low stop loss?

Is there some super basic resource to use to learn how to trade? Books, articles?

>>1856898
The robot knows your stoplos and will fuck you, slowly strain the robot with purely market orders

>>1853928
>phd
>math genius
>clever algorithms
>HFT

I know one guy who did exactly this and he is now billionaire in my country

i'm sure anon would be okay with much less

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>>1856865
anybody can have access to algo trading. i have been running algos for years every day

>>1856894
are you having difficuelties understanding a written word? daytrading has nothing to do with human emotions, that's ofcourse not the problem. only people who have no clue what they are talking about people talk these things. just mechanical execution of a strategy

>>1858498
what do the algos allow you to do? how does it help you?