Anyone tried day trading?

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  • #22682

    Leigh
    Keymaster

    I’ve been exploring other ways of making money and day trading keeps popping up in my feed. I’m also reading Ray Dalio’s Principles and it’s convinced me I could build the 5th largest private company in the US 🙂

    Has anyone tried it before? I’d be keen to know your experiences.

    #22734

    Leigh
    Keymaster

    Shit. I’m doing this. Anyone keen to make money trading stocks? It’s so fucking interesting. It turns out you don’t need to know anything about the companies you’re trading in! It’s called ‘technical trading’ and it’s definitely possible to make money.

    If anyone is keen, let me know and I’ll flick you some resources. We can make some online cash.

    #22736

    David
    Participant

    Hey Leigh,

    I would be really careful with day trading and especially technical analysis (does not really work).

    Don’t forget that if you are day trading/trying to beat the market you are competing with Hedge Funds and Investment Firms that have significantly more capital, lower transaction costs, faster computers, quants (PHD’s in mathematics , CS, Physics) and advance algorithms to spot patterns and they more often than not still fail to produce alpha.

    I recommend you read  “random walk down wall street” https://www.amazon.es/Random-Walk-Down-Wall-Street/dp/0393330338 .

    He explains this topic much better than I could in a blog post. Also take a look/listen to Warren Buffet – He talks a-lot about passive and index investing.

    Best, David

    #22737

    Leigh
    Keymaster

    Interesting. Do you have experience with day trading?

    I’m 100% on board with index funds as having solid returns. I actually have Benjamin Graham’s ‘The Intelligent Investor’ sitting on my desk in front of me and I’m just waiting for the markets to settle a bit before putting cash into index funds.

    Day trading is separate from that, though. I’m not going to invest any real money till I can prove I can get consistent returns in a simulation account and even then, I’m only going to invest money I can afford to lose.

    So, thanks for the heads up. I’m definitely going to be careful with it and approach it in a strategic and safe way.

    #22741

    David
    Participant

    Hey Leigh,

    Day trading it definitely different than index funds. I was just saying that in general passive investing through index funds and ETF’s is the best place to put your money.

    In my experience and from what I have read/seen — day trading and especially technical analysis don’t produce returns any better than passive investing and very often result in investors loosing a lot of money. I could go into more details but the book “Random Walk Down Wallstreet” explains it better than I ever could.

    David

    #22763

    Jimmy
    Participant

    As a guy who just got access to a lot more capital, I’m interested.

    #22764

    Leigh
    Keymaster

    [quote quote=22741]In my experience and from what I have read/seen — day trading and especially technical analysis don’t produce returns any better than passive investing and very often result in investors loosing a lot of money.
    David[/quote]

    Love to hear more about your experience, mate. Have you spent time in the markets? I’m brand new to this so always keen to hear what others have done.

    #22789

    David
    Participant

    Send me a private message I can better explain there.

     

    David

    #23037

    Jimmy
    Participant

    What site do you guys use for day trading.  I just got into Robinhood.

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