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Has anyone thought about quitting their job and day trade stocks instead?

T

TranceNation

Platinum Member
I've been trading stocks for 4-5 years now and currently thinking about just doing that now. I figure I would need to make about $200 per day to be equal to my job and that should be quite doable for me. So has anybody else thought of this?
 
You must have a really horrible job, and thats probably a bad idea considering stock brokers who day trade don't make a huge amount of money, and you can easily lose thousands of dollars in a day, 4-5 years of trading really isn't much experience and you'll probably end up losing money in the long run.
 
Originally posted by: TranceNation
I've been trading stocks for 4-5 years now and currently thinking about just doing that now. I figure I would need to make about $200 per day to be equal to my job and that should be quite doable for me. So has anybody else thought of this?
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i would go for it for say a few months and see how it goes
 
hrm, your making 200x5x52= 52k a year? Thats pretty much guaranteed, or you could blow a lot of money by trying to learn the market 😉.

 
i think i heard somewhere that the amount of people who can beat the s&p 500 over a 10 year period is basically 0
 
Originally posted by: bigdog1218
You must have a really horrible job, and thats probably a bad idea considering stock brokers who day trade don't make a huge amount of money, and you can easily lose thousands of dollars in a day, 4-5 years of trading really isn't much experience and you'll probably end up losing money in the long run.
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absolutely agree with this. There are many people on wall st. who get paid lots of money to "day trade" and still can't beat the market consistently. And these people have much better access to tools and "research" than you will ever have (not to mention their commissions will be less than 5% of what yours would be).
 
If you can reliably make $200 a day by day trading stocks, let's do this: I'll pay you $200 a day to do the trading and trust you with $100K of my money to manage.

The chance that you can make $200 a day trading stocks is so close to zero that the distance isn't worth measuring.
 
Originally posted by: Orsorum
Not worth the time. Tell me how many people on the Time 200 Wealthiest list are day-traders.
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And how many of those people are average joe blows? None. The people on the weathiest list either had a great idea or are just smart businessmen. Doesn't mean it's not worth the time or effort to be a daytrader.
 
My dad's done it. He pulls in about $150 USD a day, on average. This is when he doesn't do contracting. One of his friends (a whole bunch of his friends day trade with him) can get anywhere from $150-400 a day.
 
Day trading is retarded.

Hell, "stock trading" in general is a tedious, costly exercise.

The only technique that works is buy-and-hold.
 
Originally posted by: Howard
My dad's done it. He pulls in about $150 USD a day, on average. This is when he doesn't do contracting. One of his friends (a whole bunch of his friends day trade with him) can get anywhere from $150-400 a day.
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how much is he investing? because if he's putting in a million, then sure, i believe you.
 
Originally posted by: gopunk
Originally posted by: Howard
My dad's done it. He pulls in about $150 USD a day, on average. This is when he doesn't do contracting. One of his friends (a whole bunch of his friends day trade with him) can get anywhere from $150-400 a day.
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how much is he investing? because if he's putting in a million, then sure, i believe you.
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It's day trading , not investing. Buy the stock and sell 1 minute later perhaps. Maybe sometimes hold a position for 30 minutes or an hour. It doesn't take $1,000,000 worth of capital to make $400/day trading stocks intra-day b/c for example 1000 shares of a $40 stock is what? $40,000. If he make 40 cents, that's $400 b4 commission. Need around at least $100K to daytrade. But there are many other factors, such as how many positions he trades at once.
 
Originally posted by: Orsorum
Not worth the time. Tell me how many people on the Time 200 Wealthiest list are day-traders.
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I know ur trying to make a point, but he didn't mention Time 200 list. If he's making 50K/yr now and he can make 100K/yr trading then it's not all that bad. I'm not saying he will make that much b/c the odds are against anyone who daytrades. But if u can learn to make $$ consistently by intra -day trading, then it allows u alot of freedom that one doesn't get from an average job.
 
Originally posted by: Shantanu
Day trading is retarded.

Hell, "stock trading" in general is a tedious, costly exercise.

The only technique that works is buy-and-hold.
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Day trading is retarded?? What kind of job do u have? If someone flips burgers or waits on tables, are they retarded for not finding another job? Day trading is another type of job just like flippin' burgers or waiting on tables. It isn't for everyone.
 
If you enjoy the thrill from making the bets, you might as well do it.

My stock money is 100% in mutual funds so I can forget about it and spend the time doing something else, but that's just my preference not the "only right choice for everyone." The odds are way in my favor compared to the average day trader (most lose money over time) but that doesn't mean you aren't above average, just like I am in my field 🙂
 
Yeah, but at least the person who is flipping burgers is adding some value to society. WTF does day trading do?

That, and on average day traders make damn sh|tty money.
 
Originally posted by: Shantanu
Yeah, but at least the person who is flipping burgers is adding some value to society. WTF does day trading do?

That, and on average day traders make damn sh|tty money.
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All of a sudden we're talking about "value to society"??
 
Originally posted by: shootsfor3
Originally posted by: Shantanu
Yeah, but at least the person who is flipping burgers is adding some value to society. WTF does day trading do?

That, and on average day traders make damn sh|tty money.
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All of a sudden we're talking about "value to society"??
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Maybe he is referring to day traders contributing to the volatility of the market.
 
A daytrader making 100K/year will add infinitely more value to their community than a minimum wage burger-flipper. How? Taxes.
 
Originally posted by: cavemanmoron
health insurance?
retirement

Vacation
sick days

Holidays etc
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You're really asking the wrong crowd here. cavemanmoron is probably the most useful of the few I read in this thread.
My opinion is to take into consideration your assets and if you then can afford it, try it out.
 
Originally posted by: shootsfor3
Originally posted by: gopunk
Originally posted by: Howard
My dad's done it. He pulls in about $150 USD a day, on average. This is when he doesn't do contracting. One of his friends (a whole bunch of his friends day trade with him) can get anywhere from $150-400 a day.
Click to expand...

how much is he investing? because if he's putting in a million, then sure, i believe you.
Click to expand...

It's day trading , not investing. Buy the stock and sell 1 minute later perhaps. Maybe sometimes hold a position for 30 minutes or an hour. It doesn't take $1,000,000 worth of capital to make $400/day trading stocks intra-day b/c for example 1000 shares of a $40 stock is what? $40,000. If he make 40 cents, that's $400 b4 commission. Need around at least $100K to daytrade. But there are many other factors, such as how many positions he trades at once.
Click to expand...

day trading, investing, lets not get into semantics. you must have misunderstood; i never said i wouldn't believe him if it was less than a million, that was just an example of a figure i could believe.
 
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