does anybody daytrade stocks for a living?

[theGlove]

i have about 25 i want to invest

how much do you actually need to be a day trader? I know there's the 25k equity req

 

[vi edit]

Daytrading isn't investing. It's gambling on (hopefully) educated guesses.

 

[ntdz]

Originally posted by: vi_edit
Daytrading isn't investing. It's gambling on (hopefully) educated guesses.

If you make a living at it, it's most definitely not gambling.

 

[redgtxdi]

Originally posted by: vi_edit
Daytrading isn't investing. It's gambling on (hopefully) educated guesses.

Pffft...........surely you gest!!


It's EEEeeeeaaaaasy!! Just ask Tim Middleton!!! ROTFLMAO!!!!!!!!

 

[JS80]

Originally posted by: redgtxdi

Originally posted by: vi_edit
Daytrading isn't investing. It's gambling on (hopefully) educated guesses.

Pffft...........surely you gest!!


It's EEEeeeeaaaaasy!! Just ask Tim Middleton!!! ROTFLMAO!!!!!!!!

lol what a horribly written article

 

[iversonyin]

There's a lot of shop let you get a good leverage (20-40:1) to day trade. All you need is to put down $10k. ~$5 Commission for 1000 shares traded (buy 500 + sell 500 = 1000 traded).

Or you can open an account at interactivebrokers.com It is one of the best broker for daytrading. Why? They give you good fills (executions at good speed) and low commissions.

Now, I've done it for 1.5 year and by no mean an easy game. I'm done with daytrading for the time being. Sitting in front of 3 screens can be quite boring sometimes. And you not picking up any transferable skills to business world.

Pick up 1 good book about technical analysis. Pick up couple more about the market. Use a paper trading(fake money account) to try out your strategy. Once you get good result from paper trading, you go live with real money.

Recommend reading:
1. Trading for a living- Alex Elderman
2. Reminiscences of a stock operator- Edwin Leevre
3. Market Wizard + New Market Wizard
4. Pit Bull- Marty Schwartz
5. Technical Analysis (forgot the exact title)- Johny Murphy

Now you are ready to face Mr.Market. But wait...if you trade too small, you won't cover your commission, if you trade too big, your account get wipe quickly. Trade accordingly.

And last word of advice, learning to read charts is good for any type of speculating/investing/swing/daytrading. If you do lose your shirt and give up. Sock money away in an index fund and go back to get a real job.

Only 5-10% of those who tried make a living out of it.

 

[KarmaPolice]

Err I would be careful

 

[imported_cheapdude]

I did that before 2000 when I was still in school, those were the good times.

 

[PAB]

Originally posted by: iversonyin
1. Trading for a living- Alex Elderman
2. Reminiscences of a stock operator- Edwin Leevre
3. Market Wizard + New Market Wizard
4. Pit Bull- Marty Schwartz
5. Technical Analysis (forgot the exact title)- Johny Murphy

The actual title is trading for a living by dr alexander elder, not elderman.

 

[NaOH]

Hi PAB

 

[PAB]

Originally posted by: NaOH
Hi PAB

Hi Sodium Hydroxide.