Redpill me on day trading. Is it a lottery? Is it a scam?

90-95% of traders will lose some or all. this is regularly reported on brokers sites. from this we can probably deduce that 90-95% of people who tried trading will think its a scam.

"i sucked and lost. therefore, its a scam"

lmao.webm

Trading is the ultimate "play for keeps" MMO game.

It takes years of practice to become a skilled player and it's a minimum $30,000 buy-in just to sit at the table.

No but Veeky Forums will tell you it is because nobody here has enough capital to actually do it

encrypted.google.com/search?q=reddit i just lost thousands in the market

can't find the exact post, but there was a retard that lost everything. the funny thing is he was bragging about how he made thousands trading, just like two weeks previous his doom. the fucker even was recommending other retards to "get into it" by just "practicing for a bit"

read some of those reddit posts. >inb4 leddit

reality is, everything is against you, your broker, other traders, yourself. the best minds at least try this shit once, and those that have the capital to retain those minds don't care how much money they lose.

you won't win. you are not special. you will lose money.

This. Starting with too much money is a total recipe for disaster.

90% of successful "day traders" get rich by selling schemes to suckers, not actually day trading.

Most of those I read are plain stupid. Bottom line is: if you don't have money to throw in the trash, and if you depend on that money for your life. DO NOT INVEST IT FOR FUCK'S SAKE!

People wasting away all their savings is just dumb. People who make money ALREADY has money. People selling because it's low to pursue some other random company that seems to go up is just FUCKING STUPID. Buy LOW sell HIGH. Hold except if it's the fucking apocalypse or when you know that company will go through a hard time/bankrupt/etc.

Once again: Don't use money you cannot waste and don't be fucking stupid. Do not use your feeling but just COLD HARD MATHS before making a move.

I started 2 years ago and all I got is profits. Great profits. Knocking on wood hard!

Also if you feel STRESS from trading: it's because you trade important money that you cannot afford to lose. DON'T BE FUCKING STUPID.

The 10% execute trades within seconds. They have advanced charting and technical analysis, in which they themselves have spent years homing in on. Plus capital!
25k to start with in an account, and Then the real number theyre actually trading with. That 10% uses between 5k and 10k per stock, in which they've done thorough research in, looking to make 1k - 4k back.

Lets say, 10k healthy, to make 1k safely.
Before any trading ever though, 25k for their account, plus thousands to then trade with aside from the 25k.

It can be done, but it takes Experience, knowledge, patience, and quickness! A long with no emotion and steadfastness.

It does take a lot of money to make serious money with, no doubt.
Many of us, like myself just don't have the financial upside to go for it.

Even if you don't have much though, you can still get your feet with and begin learning basics.
Crawl before you walk.

Give me 50k...
I'de have a watchlist set up tonight ready for tomorrow!
Just don't have thay opportunity though, and i myself don't come from a healthy family.

Get your feet wet, put in the time to watch and build knowledge! Even stuff to learn that can be applied to stocks too... Cryptocurrency! It trades 24 hours 365 days a year! Not saying its Anything like the stock market, but their are vast boards of knowledge to be had, just takes trial and time.
Learn to be better at losing, then those gains will come when you access stocks better.
Learn learn learn!
I am.

I have schwab and i have robinhood. Also interactive brokers too but i havent activated my account with em.
Schwab takes almost 20bucks from buy sell commissions alone... Do all your assessments and add every poasible angle up, then make decisions. Robinhood is good for small amounts of capital, and its a good learning platform, but they arent realtime and they lack on a few keypoints but thats okay, research elsewhere then hit something with robinhood if you want to keep money and not be raped by commissions!

>Day trading
>Swing trading
>Investing

All literally the same thing. The only difference is the timeframe in wich you are holding whatever security. "Day trading" is whatever you, as an individual, makes of it.

good advice here

I suggest a website like stocktools.brainpad.org to calculate fees in advance. Sometimes fees are higher than the potential gains so it's worth estimating.

I've always had the same mentality. You're just buying and selling stocks. It's all trading, whether you hold a day or 10 years. To me investing is becoming apart of something. Buying into a start up. Being a majority shareholder. Having a say and control in a company.

Buying a stock or commodity hoping it goes up in the future is trading and always will be in my eyes, whether it's a 2 minute plan or 2 decade plan. The only thing I'd not consider trading would be real estate. Because you're buying real estate to make a rental income. If you're just buying real estate hoping for appreciation then it's trading houses, not investing in them.

>day trading with

>you can start with $10-20k

how about with $1k through one of those companies/brokers...?

I just started trading with my roommate, we have an day-trading-able schwab account, he's a CS guy and I'm trading options and a few long positions. were up about 2.5k in 3 weeks, but It all feels like a fucking video game.

You can start with any amount, granted your broker's commission fee. Where the 25k thing comes from is the "pattern day trading" laws enforced by FINRA. Requiring you to have a minimum of 25k in your brokerage account in order to buy and sell the same security multiple times within one trading day. Also the more money you have the easier it is to make money with less risk overall, because numbers. Veeky Forums should really learn how to read and operate a fucking search engine before they try to dive into the world of finance.

i've been looking for someone to learn with me honestly. it just seems like a better idea to have two people running ideas off each other(atleast starting out) instead of keeping everything you've learned in mind for your first very important trades

100% is

Boy with just 500$/€ ~ 1k you can already make some hundreds a day. Or at least 100-200 a day. Just use the leverage smart.
Hurdur muh 30k needed, fuck off uneducated fag

It's not a lottery, although luck can play a part.
As far as it being a scam, it depends on your definition. Lots of people feel that something is a "scam" if they don't succeed at it. Trading can be arcane, and there are many pitfalls for novices, so it's natural many will view the loss of their funds as unfair, though really they have no one but themselves to blame.
Having a large amount of capital to begin with is desirable, as fixed costs such as commissions, fees and interest will end up eating a much smaller percentage of your account (as well as making PDT rules a non-issue). Those who don't solely rely on it for income tend to do better, as they aren't pressured to make trades in order to cover rent, bills, etc, which almost always leads to poor decision making.
I've been doing it for 8 years, and am still learning new things every day. It's a constant sort of work.

What broker do you use?

> Also if you feel STRESS from trading: it's because you trade important money that you cannot afford to lose.

underrated comment

A lot of daytrading comes to psychology and peak-performance imo

If you're tilted because you're afraid to loose you won't be able to execute

>no mention of leverage working both ways

never post again you filthy troll

ThinkorSwim

It's a skill but you'll only win if you've got a calm head.
90% of day traders are degenerate gamblers and 99% of daytrading "classes" are scams.

This, people sell way too late and want too much profit. As soon as you've hit the point where your profit would be your income of a day, you should sell.

If you're smart and ready to get back up after falling down you can make a nice amount of money with it. Just don't expect to become the next Jordan Belford.

That's why I said use it SMART. People see the word leverage and immediately think one way straight to losses. Damn son, use it the right way and it's a godsend

Day/Swing trading is the way to go if you want to play it safe.

Use paper trading for a few months to get an idea as to if it would be worth your time. Use due diligence.

Most people will fail at it. And the people that get good at it, will AT MOST make about 20% in a year.

Don't believe the stories of guys doubling their money every few weeks.

Also NOBODY knows what the stock is gonna do, it's a roll of the dice. Except for maybe the hedge fund managers
> insert conspiracy theory here

>Everything is impossible. Your dreams are a lie. Complacency is the only option
Good post user

Or you could just get an account not based in the us

Lol.
Most of the people who post shit like this were already assfucked trading and are consequently salty about it.

Shre man. Why try when the game is rigged right?

The people who dedicate so much time to it would honestly be far more prosperous starting an actual business.

>the game is rigged
They do like to say that. But it's understandable.
What seems like the best time to get in on something is usually the worst, so it's not uncommon for newbies to buy at the peak and eat shit immediately after.
This can leave them disillusioned, to put it mildly.

missing the point by a mile. or do you believe the crap that everyone is a winner, everyone gets a prize, everyone is special?

sure, then. go ahead. bet the farm. make me eat my words.

remember me, when the time comes.

I left one of those long replies... Talking about 25k..

Anyway, i myself dont have much.. Im not positioning myself in anything under 5 dollars anymore. Tired of these otc stocks and stuff under 3 dollars being so undecisive!!!!!!!!!!
My time, its self is worth more than that. I can do any anyone else can but no ignorance intended... All the same knowledge thay these big hitters have can be obtained by anyone else too! Etrm just showed me to never fuck with low price and volatility. Theres always risk but ide rather start with a more stable price platform to start with. Etrm just fucked me all up. Soooooo much volume, over 4mil... But 0.068 didnt move the fuck at all! I know i need patience but that isnt patience, thats volatility and illegal manipulation!!! That god damn stock is being held the fuck down by Something or Someone on purpose!!!
Fuck that! My time and effort is worth more!!

I lost literally all my life savings on day trading.
I told myself that I was not okay with mediocrity and that I needed to be rich. I came up with a plan, day trade high risk shares, if it goes well; Im rich, if it goes bad; ill just kill myself.
I lost hard and now 6 months later I still havent been able to build up the courage to kill myself

Freed me from being a wagecuck. I get to spend most of my time dicking around and traveling but I have to also pay attention to the charts almost obsessively and be ready to trade 24/7 even if it's the middle of the night since btc never sleeps, I'm sure trading other markets is less punishing in that regard. Worth the trade off and I enjoy the intensity of it all. Fits my lifestyle well but I had to put a lot of work into making it work, most people who trade lose their shirts.

>all my life savings
How much was that?

>if it goes well; Im rich, if it goes bad; ill just kill myself
Holy shit, this was your plan?

>day trade futures as a hobby and do a solid $75-$125/day.

However it took a good mentor, lot of books and plenty of practice to get there. I also don't have the discipline for discretionary trading, so I had to program my entries and exits (which came with learning a whole different set of skills).

Its worth looking into if anyone is serious and is ready to lose some money in the learning process.

>How much was that?
120K

>Holy shit, this was your plan?
Yes. Mediocrity was making me very depressed. But that is 10 fold now

Fuck.
Did you start with the whole 120, or lose a bunch of it and add more over time to shore up your positions? Because 120 seems like a lot to dump initially on high risk stuff.

did i meet you at retox in budapest back in june

met a dude who claimed to get rich off btc (2012-now) and travel p much nonstop. I was pretty drunk that night so it's hazy. I think we also talked about marijuana stocks and maybe kanye west?

Nope sorry, different guy.

Not the same as gambling.
I bet $5,000 on 23 black
Lose $5,000.
I bet $5,000 on meme stock I didn't research.
Lose $600.

It's not a scam for me, but I don't trade every day. I buy low and sell high. That could mean i but and sell that day, or I could buy today and sell tomorrow. I normally swing trade my stocks and my success rate is around 95%. But my gains could be less that a percent of its a bad trade.
When I first started I bought one stock and had to hold it for 5 months, spent more money to average down, finally sold for small profit.

I typically make 3% to 6% a month trading this way. When compounded with my gains it ends up being 50-100% gains per year.