Anyone Day Trading the Market Right Now?

gamefreakgc

gamefreakgc

Elite Member
It's been very entertaining to watch these wild movements in a few stocks over the past few weeks. It's been spooking hedge funds and investors to exit short positions in a hurry, fearing that they will be on the wrong end of a move higher. Anyone in on the action and buying a new 2022 4Runner as a result?

As a disclosure, I don't own any individual stocks of any companies but I am invested heavily in precious metals. Been interesting to see the larger investment firms close out their short positions on silver in a hurry and drive the price up.
 
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gamefreakgc said:
Been interesting to see the larger investment firms close out their short positions on silver in a hurry and drive the price up.
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interesting. I was curious what made silver move so quickly, because I know the reddit hivemind adamantly denies moving off of gme to silver, even though major news networks were saying otherwise
 
Silver usually goes up a higher percent than Gold. I own more Silver than Gold right now. (I did close my brokerage account to buy my first house, in my second now, paid cash).
________________2007 SE V6 Titanium
 
Black_Mamba said:
interesting. I was curious what made silver move so quickly, because I know the reddit hivemind adamantly denies moving off of gme to silver, even though major news networks were saying otherwise. I personally prefer to Forex trade. Here is why
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Day trading is a short way to lose your money. Investing is a much more dependable approach to increase your deposit :naughty:
 
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Carten said:
Day trading is a short way to lose your money. Investing is a much more dependable approach to increase your deposit :naughty:
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A savvy investor once told me... "Money is like soap, the more you handle it, the faster it goes away"
 
successful day trading is rare. there are professional money managers that have significant capital and information resources backing them to try and make profits off of short term capital markets volatility. Stocks tend to be quick to reflect new information. think about it, the average investor is competing against professional money managers and high frequency trading algorithms when placing an order for a buy or sell. to think that you have an information asymmetry here to make money consistently is a dream

a few good bets here and there sure, that's possible. but consistently making good money (after transaction costs and taxes) is very unlikely. buy and hold for the average investor is far superior

I know this because I am one of those 'professionals' - it's my job. I have access to real time data feeds globally and instantaneous market news and live asset class pricing around the world. most low cost / free sources for retail investors are delayed 15 minutes. by the time you see price movements I can literally be in and out of a position. this software costs thousands of $ a month, far more than a 'retail day trader' would be able to afford and still make a profit
 
My nephew bought a 1968 Janis Joplin concert poster at a garage sale for $20 a few months back. It's going up on Sotheby's this fall starting at $8,000. He does this kind of stuff all the time. Low risk and high yield, which is the opposite of day trading.
 
I was able to get day trading out of my system after the dotcom bubble and have been mostly broad based index funds ever since. They have done quite well with minimal stress and effort.
 
Deuxdiesel said:
My nephew bought a 1968 Janis Joplin concert poster at a garage sale for $20 a few months back. It's going up on Sotheby's this fall starting at $8,000. He does this kind of stuff all the time. Low risk and high yield, which is the opposite of day trading.
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That's great... but where does he park the profits while he is onto the next garage sale opportunity?

Putting the money to work, while you work (and sleep), is really the key to success.

That said, I rather go hunt for gems like your nephew than try and day trade the market. More fun, less stress, and probably a greater chance of success.
 
Joining a strong trend move is the most straightforward and most popular trading strategy. But since no trend on the chart is visible as a straight line, correctly timing an entry can be challenging. There will always be pullbacks and periods of consolidation. Fortunately, they tend to form predictable continuation patterns, yet they often offer attractive entry opportunities. Triangles, flags, pennants, and rectangles are the most important of these chart patterns, and they are ubiquitous in both upward and downward trends.Swing Trading Strategies For Profit | Tim Thomas rarely, if ever, look like perfect geometric shapes, but to the experienced eye, they can nevertheless provide excellent evidence
 
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jjsg12084 said:
I was day trading crypto earlier this year. you can make some good money but damn is it time consuming and stressful.
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Totally. I was day trading cryptos on leverage from time to time from 2012 to 2017. It was wild but having to stay awake all night waiting for the Chinese markets to open was not conducive to a productive life. That's how I bought my 4Runner.
 
When people say day trading, I think of trading options, and I don't do that. I usually just invest in individual equities and rotate if needed, I am still fully invested now, with quite a bit of crypto holdings too...Bitcoin, Ethereum, Polkadot, Matic, Cardano, and 5-6 others. I have quite a few Tesla and tech companies but I think my rotation may be coming. I'll start to rotate out of some tech names and put the money into other tech names and even companies like John Deere.

The only people I know who are really good at day trading and make really good money doing it, are way too smart and focused. They study the details for months and years and their discipline is insane. Even they say it is becoming tougher and tougher with all the algorithm trading out there. Still, the best guy I know quite his job at 41 and has been trading full-time for ten years. That is all he does and he clears between 400K-500K per year and lives quite well. If I tried to do that, I'd be wiped out in short order, so I simply invest.
 
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