Thread: Day trading

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  1. #1
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    Day trading

    Anyone in here successfully day trade full time? Just got done with my first full year day trading and I’m in the negative. Hopefully 2021 will be a better year.

  2. Stocks/Investments Moderator boneil's Avatar
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    #2
    I daytrade part time. Full time just doesn't do it for me. Too much pressure to succeed and drawdowns turn into trying to make it back trades. I treat it as a hobby almost, less pressure and now I'm more successful at it. I trade much smaller so drawdowns are less painful and I can sit on them longer to let the trades work out.

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    #3
    I do it as a hobby. The hardest thing for me is to stick to your plan and not be greedy. When you hit your target, sell

  4. Official Lip Ripper' haftafish22's Avatar
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    #4
    Advice above is spot on from both posters. Set a plan and execute. Period. You go for broke you will end up broke. Ask me how I know lol. Small gains daily add up. 500 a week is a nice bonus check yearly. Set small goals. Don’t try to get rich on one play. I day trade/swing trade. Learned some tough lessons and made some money too.

  5. Stocks/Investments Moderator boneil's Avatar
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    #5
    If I would have taken all the money that I lost day trading early on, about 5 to 10 years ago, and instead put that into TSLA........Makes me sick just to think about it

  6. Official Lip Ripper' haftafish22's Avatar
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    #6
    Bro I’m telling ya

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    #7
    Not trying to be snarky here, but if you lost money in 2020, you should fire yourself and hire a CFP.

  8. Member opaleski's Avatar
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    #8
    Quote Originally Posted by Bassin08 View Post
    Not trying to be snarky here, but if you lost money in 2020, you should fire yourself and hire a CFP.

  9. Official Lip Ripper' haftafish22's Avatar
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    #9
    Quote Originally Posted by Bassin08 View Post
    Not trying to be snarky here, but if you lost money in 2020, you should fire yourself and hire a CFP.
    day trading and longer holds/swing trades are two different things. We all have to learn, and I don’t think that’s really a fair statement. But I don’t disagree 2020 was an really good year

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    #10
    Quote Originally Posted by haftafish22 View Post
    day trading and longer holds/swing trades are two different things. We all have to learn, and I don’t think that’s really a fair statement. But I don’t disagree 2020 was an really good year
    Agreed

  11. Hunting & Gun Lodge Moderator Roddy's Avatar
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    #11
    Quote Originally Posted by Bassin08 View Post
    Not trying to be snarky here, but if you lost money in 2020, you should fire yourself and hire a CFP.
    True, I suck and still made a good lick this last year. My son has done well just buying what Motley Fool advises as soon as they do. Usually up at least 5% that day on their recommendation.
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    #12
    Quote Originally Posted by Roddy View Post
    True, I suck and still made a good lick this last year. My son has done well just buying what Motley Fool advises as soon as they do. Usually up at least 5% that day on their recommendation.
    That's a good idea. You can do the same thing on twitter or similar sites when the guys with a lot of follower put out recommendations.

  13. Official Lip Ripper' haftafish22's Avatar
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    #13
    Quote Originally Posted by Bassmaster96 View Post
    That's a good idea. You can do the same thing on twitter or similar sites when the guys with a lot of follower put out recommendations.
    yes you can! Even better to be in before they tweet if you get lucky... ; )

  14. idbefishing
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    Day trading is A LOT like bass fishing. You spend a lot of money and efforts and in the end not too many are successful. However, it is fun and addicting

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    #15
    Quote Originally Posted by haftafish22 View Post
    yes you can! Even better to be in before they tweet if you get lucky... ; )

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    #16
    Most day traders lose all their money. Very difficult and if you follow GameStop, the market is heavily manipulated.
    I have followed internet pumpers and lost. You have to do your own research and buy the big ones on crashes. Hard to do as everyone is in on it now.

    i like and follow stock moe on YouTube.

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    #17
    Quote Originally Posted by Stropp View Post
    Most day traders lose all their money.
    I don't think that's true

  18. Official Lip Ripper' haftafish22's Avatar
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    #18
    Quote Originally Posted by Bassmaster96 View Post
    I don't think that's true
    ill second this, but personal experience wants to agree some lol.

  19. Stocks/Investments Moderator boneil's Avatar
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    #19
    Quote Originally Posted by haftafish22 View Post
    ill second this, but personal experience wants to agree some lol.

    agree. I've lost all my money a few times. But I'm still hanging in there