Current Events > Is there actually a strategy to day trading?

(+) Yeah! (+)

Or is it literally gambling?

I think back to a study from psychology class, where subjects were given a random outcome but the researchers have them a knob they could adjust, and they were certain they could affect the outcome with their knob

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It's using patterns that sometimes work and sometimes don't. Gotta set stop losses for when they don't and be greedy when they do.

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Buy High, Sell even Higher

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BilalPowell posted...

It's using patterns that sometimes work and sometimes don't. Gotta set stop losses for when they don't and be greedy when they do.

So it's basically the knob game

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In grad school a guy I knew fucked around with day trading. He made like $750 in a day once and went on about it for weeks.

After a while though, he stopped talking about day trading. He'd gotten into like a $5K hole in a few months - which is a huge amount on a graduate student's budget.

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It's gambling. The market is too unpredictable in the short term.

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I like to think of it as 'educated gambling'

It's definitely gambling, but not as risky as taking it to vegas or playing the lottery

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VigorouslySwish posted...

I like to think of it as 'educated gambling'

It's definitely gambling, but not as risky as taking it to vegas or playing the lottery

This, pretty much. Long term buy-and-hold can be significantly less of a gamble as long as you try to avoid buying high.

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CE_gonna_CE posted...

This, pretty much. Long term buy-and-hood can be significantly less of a gamble as long as you try to avoid buying high.

But that's not day trading

My friend declared himself a day trader, I can't really see how this is a job. It's like being a pro roulette player

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Njolk posted...

But that's not day trading

My friend declared himself a day trader, I can't really see how this is a job. It's like being a pro roulette player

it's simple you always bet on black and if you lose you just DOUBLE your bet on black

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