Do you believe in day trading?

[ggmopa]

There are three camps of people:

- Those that believe that financial trading, thinking specifically of retail stock trading is pure gambling, no matter the instrument. Or as was said in the infamous wolf of wall street:
Nobody knows if a stock is going to go up, down, sideways or in fucking circles, least of all stockbrokers, right? It’s all a fugayzi, you know what a fugayzi is?” "Fugayzi, fugazi. It's a whazy. It's a woozie. It's fairy dust. It doesn't exist. It's never landed. It is no matter. It's not on the elemental chart. It's not fucking real.”

- There are those that believe the market’s are rigged to favour just the few, and with that being said, inside information are the name of the game

- Then there are those, like the bros on wallstreetbets that believe you can’t win them all but that with enough study, practice, flexibility and strategies anyone can learn to take a slice of the pie and learn to keep ahead of the markets, with an elite few even being able to beat them


Which camp are you in?

 

[t2van]

I don't do it. I'm not smart enough for it.

The learning curve isn't the best either. You can seriously fuck your self up with a ton of debt in a short time because you don't understand what's going on or whats happened.

It's not for me.

I do invest in day to day stocks n shares mind and just ride it out over years and years.

 

[t0mmy]

I've been doing it for over 4 years now.. not stocks though, I focus mainly on XAUUSD (Gold)... just kind of what I fell into and got a keen eye for - I like how fast it moves. I make a full time living from it which is perfect on top of my SEO company income too! I don't go crazy, my lot sizes are between .2-.3 per trade... there is very few days that I don't clear between 2-3k in profit.

It's not for everyone and certainly not for the faint hearted... you need to have the nerve to see a trade go down and hold the line, obviously risk management comes into play in terms of setting a SL, even then though if a trade is shooting toward the SL a lot of people freak out.

The past 2 weeks have been epic with Gold hitting new ATH after ATH I've been making some very nice coin simply going long each time it bounces back down to a support level and I see it making a break out again towards the new resistance.

I also day trade BTCUSD on futures too... again because I've been around BTC since the early days, so like Gold I a have keen eye on how it tends to move.

 

[roydan]

I used to work for a forex company, and I can tell you some people make a decent living out of it. Just don't get too greedy and don't over-leverage.
I won't go into technical analysis because it's not my thing, but 99/100 losses have to do with either greed or over-leveraging. At least in forex trading.

 

[t0mmy]

I used to work for a forex company, and I can tell you some people make a decent living out of it. Just don't get too greedy and don't over-leverage.
I won't go into technical analysis because it's not my thing, but 99/100 losses have to do with either greed or over-leveraging. At least in forex trading.

This is a thing I notice with a lot of the guys that join my group... they see a few wins from following me and then they get greedy going rogue throwing risk management right out the window and it's not long until their accounts are bust lol

 

[Loadingscreen]

I thought you were asking if I believe in day trading like it's a ghost or something lol

 

[ggmopa]

Stupid absolute newb question but if you’ve got a cash account (as opposed to a margin account), is it true even if your shares crash, you’re portfolio never ‘truly’ gets wiped out ie if they are at zero, if or when the stocks prices boom again, your value picks back up? Thought once they are at zero they’re gone for good, but been reading this apparently isn't actually the case?