So I'm thinking of getting into day trading... any advice or tips? Also general money making thread

So I'm thinking of getting into day trading... any advice or tips? Also general money making thread.

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sesameseedmarket.blogspot.com/
babypips.com/school,
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you want to make a little bit of extra money, get into day trading with alot of money, and youll be left with a little...

I got tons of experience in stock market. Day trading is gambling. Get a "fantasy" account and play it for months to see if you can even do it rather than waste real money. New investors always learn hard lessons.

To be serious, know when to get out. You will make money, and you will lose money with day trading. Knowing when to take profits and when to cut losses is what will make the difference.

Without insider info, you will eventually lose.

so how are there professional day traders then?

im confused by this response... are you saying that it isnt worth doing?

Sesame Seed Futures.

sesameseedmarket.blogspot.com/

commodities. something grown in poor countries that's effected by hurricanes etc. keep on top of it.

Gold.

open a demo account and trade with it for at least 6 months before you put any real money in.
Teach yourself how to technical analysis and keep your emotion out of it.

The whole stock market is built to take money from "investors" like you. You will get recked. Buy mutual funds and indexs or get owned.

IBB is looking good right now, but don't get your hopes up.

A. Don't.
B. Start with at least $50k and expect losses for a good long while until you get established
C. Don't expect to actually break even on your previous losses for around 5ish years
D. Enjoy the slightly comfier retirement 50 years later

What do you recommend buying?

What about wheat or rice?

Buy mutual funds or indexes

I was a forex trader, but havent been it for three years.
Wouldn't have a clue on current stocks I'm afraid.

>buying shit that will crash in a decade
This is why amateurs should never start trading.

Buy whatever you want. Just don't expect to make money. Even if you pick well hedge funds will sell it down just to fuck you over.

The whole market is a scam.

All your negativity is inspiring me to just take my extra shekels to the injun casino. At least there I can catch a decent buzz while I get raped.

Pretty much this.
The market is for actual experts on the subject and essentially any amateur is entering JUST to give the experts money.
Just but mutuals or dex's and enjoy your 2-5% profit in a decade.

They know when an E*TRADE account makes a trade and they make it a point to fuck you over. Better to let someone else try to grow your money.

how do you trade outside of the "Scott Trade, e*Trade" stuff? OP here

You go to an advisor and they invest your money. If you day trade, swing trade or play options every single bank knows who you are and they will bet against you.

You can't hide. It's a rigged market unless you get crazy lucky.

>So I'm thinking of getting into day trading... any advice or tips?

Yeah......Don't fuckin' do it!

Been doing it myself for over a decade and made millions, but few people have the discipline to make it work.
But a few thoughts:
1) YOU ARE ALWAYS WORKING
Every minute of every waking hour. You are thinking about it. You are gathering information. You are reading. You are listening.
It's a lot of fuckin' work.
And, yes, I am working right now.
2) YOU DON'T KNOW SHIT
You are competing with people who have better training, more information, and a large group to support them.
3) YOU DON'T HAVE SHIT FOR CASH WHEN YOU START
That means a very few bad trades and you're done.
4) YOU HAVE SOMETHING THE BIG GUYS DON'T HAVE
You are small, nimble, and under the radar. Nobody will notice your 100, 500, 1000 shares. You can't move 1/2 million shares without someone noticing.
You can make a move in seconds. You don't need to talk with your supervisor.

Good luck.
But DON'T FUCKIN' DO IT!

if your looking to trade forex, learn from here first, babypips.com/school, when your done learning just practice by using a live simulator (for about 3 months) then start trading for real but at a very low leverage to not lose a lot of money and DONT QUIT YOUR JOB UNLESS YOU ARE MAKING A GOOD STEADY INCOME, try making about 20 pips a day

>millionaire posting on Sup Forums KYS

What he didn't mention if anything he said is true is that he lost millions to maybe be better than breaking even.

Unless you want to gamble for a living GTFO and keep your money.

If that website actually made money they wouldn't be telling you.

what are you talking about

That's absolutely ridiculous. There's no 'knowing when to get out'. Either you make good decisions that have positive expected return or make bad decisions that have a negative one. Whether you make or lose money in the short run is completely up to chance, and in the long run the decisions you make profitable or otherwise will decide whether you make money or not. Learn how casinos actually make money and realize how absurd what you said is.

If the site was any good at making money they wouldn't be giving you any profits they could make on their own.

No company on the net is in business to make others rich. Thier info is biased and a minority of their "clients" will ever see profit.

>Unless you want to gamble for a living GTFO and keep your money.

Everybody gambles for a living.
When you choose a job that involves "Do you want fries with that", you are gambling that you can't do any better than that.
Maybe you could.
Maybe you could start a successful business.
Maybe you could discover you have a special skill.
By playing it safe, you are still gambling.
And you may lose fame and fortune by doing so.
But you will never know.

OP Here... so day trading = bad... any other methods of making good money?

Daytrading is hard business. Expect to lose. Work out a trategy that works and stick to it. Dont get overconfidence. Trade with the trend. 80% of the time it is sideway market and that is where traders get chopped up. Forget fundamentals,trade technicals only. Dont be a fucking hero.

You are completely wrong.
But you are definitely the type of person who should never do it.

Just do your homework and start learning/reading. No one is going to give you advice or tips related to actual finance that you won't find out yourself from putting in the work. One thing though, always be highly critical of yourself after. Always look to find something you did wrong and improve upon it, especially after winning because that's when you can get left behind. When you're trading though have complete faith in yourself and make your decisions and move on from them. Question yourself when you're out of the line of fire.

This is why I play roulette and put it all on Red until I lose. It feels great when I'm up and when I finally lose I tell myself I could have walked away if I wanted to.

Do you understand what expected value is?

Holding down a job for a steady paycheck isn't the same as throwing your money into the stock market.

One is income and one is probably going to rob you. This can be mitigated by buying indexes or mutual funds but stocks are all garbage to the retail investor.

Fuck you, buy stocks and try to prove me wrong. You WILL LOSE.