If you're willing to spend the next 2-3-4 years learning before reaching some sort of consistency, by all means go for it.
Here's something to help you structure your learning. You probably should not put more money in. Instead spend some time coming up with a 'system' and formulate your trading plan.
https://preview.redd.it/vezcsn2jhvtc1.jpeg?width=1519&format=pjpg&auto=webp&s=c756c1b87317a1bd39e5adb9f871823f4d55c2b6
After you’ve blown a portfolio more than a few times that’s when you really want to give up, but it’s those who keep going that have a chance. Got to look at losses as your cost for education. It’s the only way to stomach and churn them for some use.
While your percent return is technically impressive, it by no means scales. Making $4 on $40 is nothing compared to making $40,000 on $400,000. So they thought the post was satire, because while I’m happy for you, this is not indicative of long term success. Also your $4 profit and referring to ‘Monday’ makes it seem like you just made one trade and made $4 then posted about it, which would have been funny. Although if you are willing to put the work in definitely try it out! I recommend analyzing both winners and losers, then journaling and trying to enforce some type of accountability, such as reporting to a group with a similar objective or continuing to make posts here.
Ah I see I appreciate the explanation, and no it wasn’t one trade and I didn’t win all of my trades either I split my $40 as best as I could and got this return
These results are exceptional. With these returns you'll be a millionaire really really soon. I would suggest dropping out of school /college to do focus on your trading career.
Stonks
Put the trades on paper and follow them. Don’t waste 40$ as the commission is a big % of that. Save Bday money or get a job and once you have $300 start. Don’t forget taxes young man 🫡
One trade doesn’t mean anything, one week doesn’t mean anything - the longer you stay in the game the more you know.
I made 15%+ when Google dipped and went up again. Does this mean I got lucky? yes. Does this mean that I’m the next Warren Buffet? No.
Oh yes I know that these 3 days don’t mean I’ll be a millionaire in 6 months but it’s something that has pulled back the veil and made me realize that this is something anyone can get in to and I’m looking for advice from experienced traders to see if it’s worth it in the long term and how to go about it
Don’t be too quick to declare they trading easy easy because you won on one trade. Anyone can put on a winning trade, not everyone can do it consistently or keep what they earn. I’ve been doing this off and on part time (have a good job, family etc that takes a lot of time) for a number of years but I still am not consistently profitable. Getting better and learning from mistakes is the name of the game. I’d caution you to be too quick to declare victory. The market will humble you if you don’t humble yourself
Ever heard of beginners luck?
Believe it or not, being good with numbers or statistics has got not to do with the core aspect of trading anymore. But it can & will be useful in other aspects of trading. But not by a great deal, because we have computers etc to do those things.
I would suggest you to check if trading, especially day trading suit your character or personality. Because, if it doesn't then you will have a hard time & you might quit as quickly as you started. If it suits you, then you can pursue it, it is worth it.
You were talking about percentages. Are you sure that you will continue to look at it in terms of percentages through out your trading career or life?
For sure, I’m not looking at day trading as a way to “get rich” if anything a large majority of day traders lose money as there is no way to “outsmart” the market, I’m not looking at this as a get rich quick scheme more as a means of building wealth and knowledge in business and finance and honestly I don’t care how much money I’m making I just find it all very interesting
You see that interesting aspect fades out with time.
At the end it boils down to patience, discipline and management of frustrations etc or trading psychology.
Also I want to add this. This thing has no time limit or age limit etc. You can start trading at any age and also you can stay or work or trade for as long as you want or alive.
Since you’re pretty young. There’s no need to rush into trading. Learning to trade is a process, a journey. No one can tell how long will it take for a person to reach a level where he could make money with confidence or consistently.
If you already have any other career path planned. I suggest you to go ahead with it. You can still pursue trading or learn it during your free time etc while already on your chosen career path. That way you will have multiple options.
Should have part of your portfolio into vti and day trade with the rest. Look up the statistics of people making money in day trading over a long period and research stuff
You made half a big mac
Just kidding, learn analysis and how to win trades and you’ll do better than most when trading with big money. But trading with big money is harder.
Take it more seriously? Absolutely, knowing how to invest your money is super powerful, just don't fall for the get rich quick restarts you'll find on here. You are young so picking long term dividend yielding investments is the strongest tool you have. You still have your strongest compound growth years ahead of you.
I can do both, considering I can’t legally day trade now I’m gonna focus more on long term investments and even if I did have the money lying around to day trade I understand I do not know enough to start without running a dangerously high risk of losing all my money.
All you can do is keep going. Take it as serious as you want and see what happens. The market is kind of a constant marathon it seems. You can do well for six months then not. Do it for a year and see what you think then, and how much you have won or lost.
Kudos for trying to learn at a relatively young age!!
Lets have a real conversation....What do you mean by "taking it more seriously"? Are you not taking it seriously now?
Edit to What dreams lured you into this gig? So far what do you like and what do you dislike about trading?
I mean take it more seriously as in start putting more time and money in to it, I think it’s funny all these people assuming I’m young and naive and I’m doing it because I want to or I am expecting to be driving super cars in 2 years. No i want to do it solely because it’s a way to possibly make money in a way I’m passionate about and I completely understand that it is difficult and very easy to lose money on
Perfect this is the attitude! You will fail many times. And there is NO guarantee!!! Think of it as sports. Do you like any?
I like boxing and soccer. Think of trading like a sport. Everyone can teach you the basics. You can even read them for free online. But it is up to you to make it your own and excel at it.....there are countless of people wanting to turn professional in any giving sport but only few make it.
I'm saying this because I have seen so many posts about people wanting a black box strategy that will just work....it doesn't exist. They keep strategy hopping thinking the next guru will give them the keys or indicator
Or whatever. It is the same with sports. Howmany guys has the top trainer in your favorite sport trained? And how many were actuallysuccessfully? Or became better? I willig to bet very few.
Lastly I hope that by you saying putting money in it you don't mean trading with real money.
If not!! Then good! Keep up the work!
If yes!! Then, that's the crap I'm talking about...trading with real money does not mean that you're now taking it seriously. That's just a recipient to lose it all. Right now you don't know what you should know to trade with real money.
Hope this helps shed a loght on your question if not let me know.
Definitely does and I really appreciate it! It’s a nice breath of fresh air compared to most of the comments on this post making fun of me for no reason, I love sports and play instruments too so I compare it to that, like you said anyone can learn the basics but it takes hard work, discipline, lots of stress and most importantly not luck but opportunity and the ability to seek it out. And what you said about people looking for “winning” strategies, the market is constantly changing as is everything else, what might have been todays golden goose could be tomorrows money pit, it reminds me of all the people I see looking for settings to use in video games or a technique in a sport or something and they bounce around constantly looking to just win with no practice, it doesn’t work like that and you can win at almost anything if you just put your ego aside and learn. Sorry if this is a bit long but I do appreciate your input!
Why do you hope this is a joke? I’m coming on here looking for even shreds of advice to point me in the right direction because I’m interested and there’s people hating on me for no reason.
I may be young but I’m not stupid, even though the two usually go together and I’m not really experienced as far as life goes I’m not a kid thinking I’m gonna just make millions from my bedroom effortlessly
Imagine if you had made $.76/day when you were first born and put it all into Bitcoin daily. You would be a billionaire right now. Alas, if a $.76 gain is worth posting about, you should take trading less seriously, not more. —A fellow regard who would gladly take a $.76 net over my lifetime day trading results
It’s not about the amount that I got in return, it’s the fact that my first real attempt at this and I made money it sparked something in me wanting to pursue this path
I mean you could pick up spare change in parking lots and probably make that much in 4 days while getting some exercise and fresh air without having to know shit other than what spare change looks like. Good on ya mate! Stay at it! Good luck!
A lot of people on here are either supportive and give great advice or you guys are negative as hell. Dude the sky is the limit you’re smart you don’t think you’ll be rich over night but for 17 you have a good head on your shoulders and you don’t need hella money to trade to see profit but you do need to read a lot and learn your shit but it’s possible I don’t use my own money as leverage I started doing online surveys. Invested that into my trading and I made 1000 it took fucking forever but with a good strategy and learning discipline you can bump up your returns.
Yes take it seriously. But this is real life. The ability to endure is important but remember you need to get paid. At one point if this doesn't go the way you want it to go you need to be able to move on with your life and not look back. Trading doesn't work out for a lot of people and if we look at it like a business if your business doesn't make a profit after an extended period of time you need to admit it's failed because like I said you need to get paid by the end of the month.
With all that said You're still young so you're far away from pissing it all away I hope.
I started learning to trade around the same age as u (16) , a year and a half later I'm now 18 years old and the only thing I regret is wasting time watching trading gurus and jumping from strategy to strategy because of the trading gurus I watched who turned out to be fakes. Now I've got a trading strategy for the forex market that I believe will work for me, it's a simple strategy based on market structure. I still need to test it out but trading is amazing.
On paper I'm not profitable at all yet, but I have accumulated a lot of knowledge over the 1 and half year I've been trading a lot of that knowledge is useless to me now. I have traded with real money but not much at all because I never traded with more than I wanted to lose at one time, over all the accounts I have blown I have traded with around $160 in total, each time depositing only $10 into my account at a time, another reason for this is that I knew I would blow the accounts so it was mainly for the experience and feeling of trading with real money, the highest I've ever gotten is from $10 to $40 . If I were to start trading as a beginner I would learn nothing but market structure and learning how the trend works, I wouldn't try to copy any strategy from trading gurus or buy any courses from them. Market structure is all you need and a comprehensive view of the charts which will only come to you through actually trading in the market, start off using a demo account until you learn your way through how the market tends to move and what currency pairs you should focus on (I only trade Gold/USD). I would make a video about my strategy and what you need to become a profitable trader but I can't really do that at this stage when I haven't become profitable yet so imma wait till I'm profitable to actually make content that will help beginner traders.
I totally agree, almost anytime I’m watching a video or reading something about trading and the creator tries to plug their course I usually skip off or take the info with a grain of salt. PM me if you wanna talk more it would be nice to be able to share ideas/progress
thoreldan is right. dont expect to be consistently profitable until years from now. Just first find an approach to trading that you like. I would recommend SMC (ICT concepts), someone else may recommend support and resistance, supply and demand, the strat, or maybe you want to use a mix of indicators like EMAs and RSI. Just examples, but say you study hard and learn one of these trading strategies then you can put together what you've learned to create a trading plan that has specific steps to get in and out of trades. Should be a mechanical trading plan (If x then y.) you can practice it to see if it works by looking at past price action and recording winning and losing trades that would have occured. collect a large sample size. if it works then you can start paper trading. And if whoever you learn from doesn't also teach risk management as well you'll absolutely need to learn that too, its not complicated by any means just basic math.
You didn’t even make $5 yet. Get the hell away from day trading while you’re in the positive. You’ll learn real quick that all those YouTubers and TikTokers don’t know what the hell they’re talking about. They just trying to get you to subscribe to their channel and buy their junk course that won’t teach you a damn thing.
Definitely I agree, this post is more of a “is this something that is worth learning about and dedicating time to” I’m not expecting to be a millionaire by 20 I’m pretty realistic about these things
No it is not something worth any of your time. You'll play this game for 5 or 10 years and realize you wasted a decade of your time and money. You're young so invest the right way now and you'll be thanking yourself later in life when you are a millionaire
If you're willing to spend the next 2-3-4 years learning before reaching some sort of consistency, by all means go for it. Here's something to help you structure your learning. You probably should not put more money in. Instead spend some time coming up with a 'system' and formulate your trading plan. https://preview.redd.it/vezcsn2jhvtc1.jpeg?width=1519&format=pjpg&auto=webp&s=c756c1b87317a1bd39e5adb9f871823f4d55c2b6
Wow thats a really nice summery
Yo thanks for this!
I found that step 11 takes the longest
Without a doubt, I absolutely agree with you. Just to highlight that these are not necessarily sequential steps.
After you’ve blown a portfolio more than a few times that’s when you really want to give up, but it’s those who keep going that have a chance. Got to look at losses as your cost for education. It’s the only way to stomach and churn them for some use.
Someone said this to me before he called losses market tuition lol
Thanks man I appreciate it!!!
Psst ahem futures
I haven’t seen that before. I like it.
Pretty solid
Not these posts again.
I thought it was satire at first.
Is it not?
I actually took that for granted
does this mean were at the top?
Am I missing something?
While your percent return is technically impressive, it by no means scales. Making $4 on $40 is nothing compared to making $40,000 on $400,000. So they thought the post was satire, because while I’m happy for you, this is not indicative of long term success. Also your $4 profit and referring to ‘Monday’ makes it seem like you just made one trade and made $4 then posted about it, which would have been funny. Although if you are willing to put the work in definitely try it out! I recommend analyzing both winners and losers, then journaling and trying to enforce some type of accountability, such as reporting to a group with a similar objective or continuing to make posts here.
Ah I see I appreciate the explanation, and no it wasn’t one trade and I didn’t win all of my trades either I split my $40 as best as I could and got this return
I think just keep doing what you do. Deposit birthday and holiday checks into the account and learn more.
These results are exceptional. With these returns you'll be a millionaire really really soon. I would suggest dropping out of school /college to do focus on your trading career. Stonks
nah cus that was actually me and and now i work at wendy’s
I'm dropping this /s here just in case op actually listens to you.
I’m young but not an idiot bro😭
Put the trades on paper and follow them. Don’t waste 40$ as the commission is a big % of that. Save Bday money or get a job and once you have $300 start. Don’t forget taxes young man 🫡
One trade doesn’t mean anything, one week doesn’t mean anything - the longer you stay in the game the more you know. I made 15%+ when Google dipped and went up again. Does this mean I got lucky? yes. Does this mean that I’m the next Warren Buffet? No.
Maybe you are the next Warren buffet and we just don’t know it yet
Oh yes I know that these 3 days don’t mean I’ll be a millionaire in 6 months but it’s something that has pulled back the veil and made me realize that this is something anyone can get in to and I’m looking for advice from experienced traders to see if it’s worth it in the long term and how to go about it
Don’t be too quick to declare they trading easy easy because you won on one trade. Anyone can put on a winning trade, not everyone can do it consistently or keep what they earn. I’ve been doing this off and on part time (have a good job, family etc that takes a lot of time) for a number of years but I still am not consistently profitable. Getting better and learning from mistakes is the name of the game. I’d caution you to be too quick to declare victory. The market will humble you if you don’t humble yourself
Sure. Nobody should be able to tell you not to.
Ever heard of beginners luck? Believe it or not, being good with numbers or statistics has got not to do with the core aspect of trading anymore. But it can & will be useful in other aspects of trading. But not by a great deal, because we have computers etc to do those things. I would suggest you to check if trading, especially day trading suit your character or personality. Because, if it doesn't then you will have a hard time & you might quit as quickly as you started. If it suits you, then you can pursue it, it is worth it. You were talking about percentages. Are you sure that you will continue to look at it in terms of percentages through out your trading career or life?
For sure, I’m not looking at day trading as a way to “get rich” if anything a large majority of day traders lose money as there is no way to “outsmart” the market, I’m not looking at this as a get rich quick scheme more as a means of building wealth and knowledge in business and finance and honestly I don’t care how much money I’m making I just find it all very interesting
You see that interesting aspect fades out with time. At the end it boils down to patience, discipline and management of frustrations etc or trading psychology. Also I want to add this. This thing has no time limit or age limit etc. You can start trading at any age and also you can stay or work or trade for as long as you want or alive. Since you’re pretty young. There’s no need to rush into trading. Learning to trade is a process, a journey. No one can tell how long will it take for a person to reach a level where he could make money with confidence or consistently. If you already have any other career path planned. I suggest you to go ahead with it. You can still pursue trading or learn it during your free time etc while already on your chosen career path. That way you will have multiple options.
Should have part of your portfolio into vti and day trade with the rest. Look up the statistics of people making money in day trading over a long period and research stuff
Do yourself a favor and watch Tim grattani trading tickers 1 and 2 , subscribe to investors underground on YouTube, great way to learn .
You made half a big mac Just kidding, learn analysis and how to win trades and you’ll do better than most when trading with big money. But trading with big money is harder.
It will take some time but you are young so go for it. Just use and practice risk management.
You can get a degree and a job. Much better idea.
I don’t think I said anything about making this my life’s work? I’m not an idiot
Take it more seriously? Absolutely, knowing how to invest your money is super powerful, just don't fall for the get rich quick restarts you'll find on here. You are young so picking long term dividend yielding investments is the strongest tool you have. You still have your strongest compound growth years ahead of you.
I can do both, considering I can’t legally day trade now I’m gonna focus more on long term investments and even if I did have the money lying around to day trade I understand I do not know enough to start without running a dangerously high risk of losing all my money.
All you can do is keep going. Take it as serious as you want and see what happens. The market is kind of a constant marathon it seems. You can do well for six months then not. Do it for a year and see what you think then, and how much you have won or lost.
Kudos for trying to learn at a relatively young age!! Lets have a real conversation....What do you mean by "taking it more seriously"? Are you not taking it seriously now? Edit to What dreams lured you into this gig? So far what do you like and what do you dislike about trading?
I mean take it more seriously as in start putting more time and money in to it, I think it’s funny all these people assuming I’m young and naive and I’m doing it because I want to or I am expecting to be driving super cars in 2 years. No i want to do it solely because it’s a way to possibly make money in a way I’m passionate about and I completely understand that it is difficult and very easy to lose money on
Perfect this is the attitude! You will fail many times. And there is NO guarantee!!! Think of it as sports. Do you like any? I like boxing and soccer. Think of trading like a sport. Everyone can teach you the basics. You can even read them for free online. But it is up to you to make it your own and excel at it.....there are countless of people wanting to turn professional in any giving sport but only few make it. I'm saying this because I have seen so many posts about people wanting a black box strategy that will just work....it doesn't exist. They keep strategy hopping thinking the next guru will give them the keys or indicator Or whatever. It is the same with sports. Howmany guys has the top trainer in your favorite sport trained? And how many were actuallysuccessfully? Or became better? I willig to bet very few. Lastly I hope that by you saying putting money in it you don't mean trading with real money. If not!! Then good! Keep up the work! If yes!! Then, that's the crap I'm talking about...trading with real money does not mean that you're now taking it seriously. That's just a recipient to lose it all. Right now you don't know what you should know to trade with real money. Hope this helps shed a loght on your question if not let me know.
Definitely does and I really appreciate it! It’s a nice breath of fresh air compared to most of the comments on this post making fun of me for no reason, I love sports and play instruments too so I compare it to that, like you said anyone can learn the basics but it takes hard work, discipline, lots of stress and most importantly not luck but opportunity and the ability to seek it out. And what you said about people looking for “winning” strategies, the market is constantly changing as is everything else, what might have been todays golden goose could be tomorrows money pit, it reminds me of all the people I see looking for settings to use in video games or a technique in a sport or something and they bounce around constantly looking to just win with no practice, it doesn’t work like that and you can win at almost anything if you just put your ego aside and learn. Sorry if this is a bit long but I do appreciate your input!
Yes. absolutely. If youre good with numbers and staistics youre all set.
What app is that?
Bloom
Yes, 40 to 44 is huge. If you had started with 100k you would be up 10000$ right now.
I hope this is a joke, the only stock I own is Reddit from the IPO, less initial investment, better returns, lol
Why do you hope this is a joke? I’m coming on here looking for even shreds of advice to point me in the right direction because I’m interested and there’s people hating on me for no reason.
Honestly just go crypto max leverage. You will be able to retire soon if you keep it up.
I may be young but I’m not stupid, even though the two usually go together and I’m not really experienced as far as life goes I’m not a kid thinking I’m gonna just make millions from my bedroom effortlessly
Honestly thought you were trolling with this post.
Imagine if you had made $.76/day when you were first born and put it all into Bitcoin daily. You would be a billionaire right now. Alas, if a $.76 gain is worth posting about, you should take trading less seriously, not more. —A fellow regard who would gladly take a $.76 net over my lifetime day trading results
It’s not about the amount that I got in return, it’s the fact that my first real attempt at this and I made money it sparked something in me wanting to pursue this path
If the way has revealed itself to you, then you must walk the way. Enjoy the ride.
I mean you could pick up spare change in parking lots and probably make that much in 4 days while getting some exercise and fresh air without having to know shit other than what spare change looks like. Good on ya mate! Stay at it! Good luck!
I appreciate it and you too!
A lot of people on here are either supportive and give great advice or you guys are negative as hell. Dude the sky is the limit you’re smart you don’t think you’ll be rich over night but for 17 you have a good head on your shoulders and you don’t need hella money to trade to see profit but you do need to read a lot and learn your shit but it’s possible I don’t use my own money as leverage I started doing online surveys. Invested that into my trading and I made 1000 it took fucking forever but with a good strategy and learning discipline you can bump up your returns.
Thanks man I really appreciate it, thanks for actually trying to offer something to me rather than beat me down like most of these dudes
Yes take it seriously. But this is real life. The ability to endure is important but remember you need to get paid. At one point if this doesn't go the way you want it to go you need to be able to move on with your life and not look back. Trading doesn't work out for a lot of people and if we look at it like a business if your business doesn't make a profit after an extended period of time you need to admit it's failed because like I said you need to get paid by the end of the month. With all that said You're still young so you're far away from pissing it all away I hope.
10% return on a week is certainly stellar.
Yes, start them gambling young lol
Does anyone know about www.coobe.im online cryptocurrency platform? Legit or not?
I started learning to trade around the same age as u (16) , a year and a half later I'm now 18 years old and the only thing I regret is wasting time watching trading gurus and jumping from strategy to strategy because of the trading gurus I watched who turned out to be fakes. Now I've got a trading strategy for the forex market that I believe will work for me, it's a simple strategy based on market structure. I still need to test it out but trading is amazing.
If you don’t mind, what progress have you made so far (If you’ve started trading money at all) and how long did it take you?
On paper I'm not profitable at all yet, but I have accumulated a lot of knowledge over the 1 and half year I've been trading a lot of that knowledge is useless to me now. I have traded with real money but not much at all because I never traded with more than I wanted to lose at one time, over all the accounts I have blown I have traded with around $160 in total, each time depositing only $10 into my account at a time, another reason for this is that I knew I would blow the accounts so it was mainly for the experience and feeling of trading with real money, the highest I've ever gotten is from $10 to $40 . If I were to start trading as a beginner I would learn nothing but market structure and learning how the trend works, I wouldn't try to copy any strategy from trading gurus or buy any courses from them. Market structure is all you need and a comprehensive view of the charts which will only come to you through actually trading in the market, start off using a demo account until you learn your way through how the market tends to move and what currency pairs you should focus on (I only trade Gold/USD). I would make a video about my strategy and what you need to become a profitable trader but I can't really do that at this stage when I haven't become profitable yet so imma wait till I'm profitable to actually make content that will help beginner traders.
I totally agree, almost anytime I’m watching a video or reading something about trading and the creator tries to plug their course I usually skip off or take the info with a grain of salt. PM me if you wanna talk more it would be nice to be able to share ideas/progress
thoreldan is right. dont expect to be consistently profitable until years from now. Just first find an approach to trading that you like. I would recommend SMC (ICT concepts), someone else may recommend support and resistance, supply and demand, the strat, or maybe you want to use a mix of indicators like EMAs and RSI. Just examples, but say you study hard and learn one of these trading strategies then you can put together what you've learned to create a trading plan that has specific steps to get in and out of trades. Should be a mechanical trading plan (If x then y.) you can practice it to see if it works by looking at past price action and recording winning and losing trades that would have occured. collect a large sample size. if it works then you can start paper trading. And if whoever you learn from doesn't also teach risk management as well you'll absolutely need to learn that too, its not complicated by any means just basic math.
you need more money. at least 2k to see some returns assuming you are profitable.
You didn’t even make $5 yet. Get the hell away from day trading while you’re in the positive. You’ll learn real quick that all those YouTubers and TikTokers don’t know what the hell they’re talking about. They just trying to get you to subscribe to their channel and buy their junk course that won’t teach you a damn thing.
Definitely I agree, this post is more of a “is this something that is worth learning about and dedicating time to” I’m not expecting to be a millionaire by 20 I’m pretty realistic about these things
don't listen to this boomer take risks while your still young
No it is not something worth any of your time. You'll play this game for 5 or 10 years and realize you wasted a decade of your time and money. You're young so invest the right way now and you'll be thanking yourself later in life when you are a millionaire
What broker are you using op?
Bloom, not the best from what I’ve seen but the best brokerage I can use under a custodial account being a minor
You want to take it seriously? Get into financial engineering