Day trading

[mnsabre]

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.

[boneil]

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.

[Bassmaster96]

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

[haftafish22]

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.

[boneil]

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

[haftafish22]

Bro I’m telling ya

[Bassin08]

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

[opaleski]

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

[haftafish22]

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

[Bassmaster96]

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

[Roddy]

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.

[Bassmaster96]

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.

[haftafish22]

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... ; )

[idbefishing]

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

[Bassmaster96]

yes you can! Even better to be in before they tweet if you get lucky... ; )

[Stropp]

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.

[Bassmaster96]

Most day traders lose all their money.

I don't think that's true

[haftafish22]

I don't think that's true

ill second this, but personal experience wants to agree some lol.

[boneil]

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