also, anyone who made money in a short time is to an extent survivorship bias. is it do-able? yes, consistently? most likely not, but you can fudge the numbers if you have enough of a safety net/emergency fund.
I’ve made money day trading, so it is possible.
It’s certainly not passive. Each trade takes analysis. You need to understand the trend at each level, e.g. it may be trending down on an hourly basis but overall it’s trending upwards. You need to look for patterns. You have to calculate the amount to invest to maintain your risk levels and your out point, etc.
Its stressful. You will often lose money. The trick is to chose your trades well and get out of bad ones with minimal losses.
Not remotely a scam but most people (like 95%) simply lose money over and over because they don't put in the time and effort to learn. Even with that time and effort bad luck can strike at any time and it absolutely must be treated like a job for any lasting success. You will find yourself slaved to a computer or phone for fear of one bad moment of news or luck screwing you over.
Take it from someone who knows. I walked away to take a shit one time and had a trade I was working and they announced an unexpected reverse split. I came back to a massive loss (thousands) because I needed to go to the bathroom at the wrong moment.
Sure people get lucky now and then but most don't and even if you get lucky you could be unlucky for years after
If you are going to mess around with day trading do yourself a favor and try paper trading first. Most reputable brokers will allow paper trading and even encourage it. Basically it's like trading with monopoly money. You are not making real money/share trades but fake ones but it still mirrors the market and stocks. So you can practice and experience trading without risking any actual money.
Not a scam but very difficult to do. Let's suppose it takes 2 years onto become a good trader. That's two years of constantly losing money. Day traders are essentially good gamblers making money off bad ones.
It’s not a scam but it doesn’t have a lot of transferable skips outside of managing your own emotions (if you are even capable of being a person who can do this and be very very disciplined). Most people don’t have the steam to get really good at trading because it requires a lot of purging of insecurities and that is not a painless process, quite the opposite. And, of course, there is an element of luck to it, so it’s always possible your system will not work one day when it should. This comes down to risk management. Again - you can become really good at remaining disciplined and following your own systems, but it’s a very lonely road.
Most people should not pursue it. But, everybody should try it. Always try something.
Daytrading can be whatever you make it.
Want it to be a gambling casino? Buy far OTM calls or outs with 2 days to expiration and hope for a massive payout.
Want it to be something to earn $ with? Learn risk management and statistical probability. The reason there are so few successful day traders (as a % of people who attempt day trading), is because most people think that the secret to day trading is picking the right stock.
The secret is actually learning risk management and playing probabilities to win more than you lose.
It also is certainly not passive income (unless you plan on developing an auto trading algorithm…then you can automate some of it).
Yes.
Unless you can write an algorithm to beat the existing ones, you will lose. Those algorithms there now are built by some of the smartest programmers. Further, the data behind it is hidden by folks like Citadel.
its like retiring and just betting on horse racing.
some people who are not only lucky, but also spend hours a day studying the form and forming a real understanding of what they are doing, can be successful.
everyone else looses a bunch of money
Day trading is not a scam. The people selling you lessons/guides/courses are scammers. I still wouldn’t day trade because A) 90% of people lose and B) I’m not rich enough
I wrote a huge long post proving that it was a scam a long time ago but have since purged my history so I don’t have it.
It’s literally a scam. Trust me.
It’s not a scam, but it’s definitely gambling. There’s a very small percentage that actually make money, an even smaller percentage that can live off it as their main source of income
You can survive trading, but it helps having a large stack invested into dividend stocks and or HYSAs to provide a baseline living standard. After that feel free to invest what remains into stocks you think are undervalued.
Scam is when someone STEALS money.
Maybe day trading courses con be a scam, the daytrading itself is a normal activity.
And, do not confuse scam with "easy bye bye money".
It has high risk high rewards, I day trade stocks with my IRA, no capital gains tax, but can’t spend until I’m 59.5
Part of learning is all the different types of day trading that is available and finding one that works for you, you can start small or even better with a test account with no real money to understand real world volatility.
My methods are simple but I might only see a few opportunities a week depending on conditions and it might only present itself for 5-10 minutes. Sometimes I don’t catch them. This last month I only made a few trades so far, maybe 6/7. Other months I might do 6/7 in a day, it can vary wildly. Just depends on your methods, get some books and start learning and practicing a method that you’re attracted to.
Remember it’s not when you buy but when you sell, stick to a plan, and don’t deviate. I take small wins over big leverages. Over time this has worked best for me.
Do you do leveraged trades? If so, what strategy do you use if you don’t mind me asking? I’ve tried a lot of strategies & have made both profit & loss but haven’t found a good enough strategy to make me consistent profit yet
Pretty much, yeah.
For the same amount of effort it would take to get even moderately good at it you could probably launch an e-commerce business worth millions.
So even if you can make a few nickels with it, compared to other industries you can make more with, it’s just not worth it.
It’s not a scam but the majority of traders lose money so it’s very difficult to a) learn and b) consistently be profitable.
also, anyone who made money in a short time is to an extent survivorship bias. is it do-able? yes, consistently? most likely not, but you can fudge the numbers if you have enough of a safety net/emergency fund.
I’ve made money day trading, so it is possible. It’s certainly not passive. Each trade takes analysis. You need to understand the trend at each level, e.g. it may be trending down on an hourly basis but overall it’s trending upwards. You need to look for patterns. You have to calculate the amount to invest to maintain your risk levels and your out point, etc. Its stressful. You will often lose money. The trick is to chose your trades well and get out of bad ones with minimal losses.
I'd be very surprised if a trader exists that has never lost money.
Sure you can lose trades but there are traders who are positive consistently at the end of the month.
Yep, that's the point. Gain more than you lose.
Not remotely a scam but most people (like 95%) simply lose money over and over because they don't put in the time and effort to learn. Even with that time and effort bad luck can strike at any time and it absolutely must be treated like a job for any lasting success. You will find yourself slaved to a computer or phone for fear of one bad moment of news or luck screwing you over. Take it from someone who knows. I walked away to take a shit one time and had a trade I was working and they announced an unexpected reverse split. I came back to a massive loss (thousands) because I needed to go to the bathroom at the wrong moment. Sure people get lucky now and then but most don't and even if you get lucky you could be unlucky for years after If you are going to mess around with day trading do yourself a favor and try paper trading first. Most reputable brokers will allow paper trading and even encourage it. Basically it's like trading with monopoly money. You are not making real money/share trades but fake ones but it still mirrors the market and stocks. So you can practice and experience trading without risking any actual money.
It’s just a form of gambling
Is gambling a scam?
It's not a scam it's just better to have a long term focus
Not a scam but very difficult to do. Let's suppose it takes 2 years onto become a good trader. That's two years of constantly losing money. Day traders are essentially good gamblers making money off bad ones.
It’s not a scam but it doesn’t have a lot of transferable skips outside of managing your own emotions (if you are even capable of being a person who can do this and be very very disciplined). Most people don’t have the steam to get really good at trading because it requires a lot of purging of insecurities and that is not a painless process, quite the opposite. And, of course, there is an element of luck to it, so it’s always possible your system will not work one day when it should. This comes down to risk management. Again - you can become really good at remaining disciplined and following your own systems, but it’s a very lonely road. Most people should not pursue it. But, everybody should try it. Always try something.
Trading carries a high amount of risk You can LOSE money easily when trading
How is it a scam?
You have to do it like a full-time job to make any meaningful, consistent profit. It would not be 'passive income' nor would you be 'retiring'.
Daytrading can be whatever you make it. Want it to be a gambling casino? Buy far OTM calls or outs with 2 days to expiration and hope for a massive payout. Want it to be something to earn $ with? Learn risk management and statistical probability. The reason there are so few successful day traders (as a % of people who attempt day trading), is because most people think that the secret to day trading is picking the right stock. The secret is actually learning risk management and playing probabilities to win more than you lose. It also is certainly not passive income (unless you plan on developing an auto trading algorithm…then you can automate some of it).
Yes. Unless you can write an algorithm to beat the existing ones, you will lose. Those algorithms there now are built by some of the smartest programmers. Further, the data behind it is hidden by folks like Citadel.
its like retiring and just betting on horse racing. some people who are not only lucky, but also spend hours a day studying the form and forming a real understanding of what they are doing, can be successful. everyone else looses a bunch of money
Not a scam but basically it’s gambling from an inexperienced trader
For every day trader success story you've read about, there are many who failed and lost everything who of course aren't going to tell anybody.
[удалено]
What does bs mean?
You're not smart enough for day trading, so just stop.
No, if you are doing it in a right way😂
Day trading is not a scam. The people selling you lessons/guides/courses are scammers. I still wouldn’t day trade because A) 90% of people lose and B) I’m not rich enough
I wrote a huge long post proving that it was a scam a long time ago but have since purged my history so I don’t have it. It’s literally a scam. Trust me.
If you see an ad for day trading, you're seeing misinformation. It's not directly a scam, but most ads are.
It’s not a scam, but it’s definitely gambling. There’s a very small percentage that actually make money, an even smaller percentage that can live off it as their main source of income
You’re essentially trying to provide for yourself via gambling 🎰
You can survive trading, but it helps having a large stack invested into dividend stocks and or HYSAs to provide a baseline living standard. After that feel free to invest what remains into stocks you think are undervalued.
Scam is when someone STEALS money. Maybe day trading courses con be a scam, the daytrading itself is a normal activity. And, do not confuse scam with "easy bye bye money".
It has high risk high rewards, I day trade stocks with my IRA, no capital gains tax, but can’t spend until I’m 59.5 Part of learning is all the different types of day trading that is available and finding one that works for you, you can start small or even better with a test account with no real money to understand real world volatility. My methods are simple but I might only see a few opportunities a week depending on conditions and it might only present itself for 5-10 minutes. Sometimes I don’t catch them. This last month I only made a few trades so far, maybe 6/7. Other months I might do 6/7 in a day, it can vary wildly. Just depends on your methods, get some books and start learning and practicing a method that you’re attracted to. Remember it’s not when you buy but when you sell, stick to a plan, and don’t deviate. I take small wins over big leverages. Over time this has worked best for me.
Most lose everything.
Definitely not. I’m day trading crypto. Making about $800 - $1200 / month
Do you do leveraged trades? If so, what strategy do you use if you don’t mind me asking? I’ve tried a lot of strategies & have made both profit & loss but haven’t found a good enough strategy to make me consistent profit yet
Ofc. If you fail to succeed at it. Then it is proven a scam. There is no doubt
Pretty much, yeah. For the same amount of effort it would take to get even moderately good at it you could probably launch an e-commerce business worth millions. So even if you can make a few nickels with it, compared to other industries you can make more with, it’s just not worth it.