Poll of the Day > Anyone here do day trading?

(+) Yeah! (+)

A friend is trying to get me into it but i know nothing about it

I had a roommate that fucked around with penny stocks until he had the capital to do do day trading (I think it was $25k through Ameritrade at the time). Last I talked to him he had made decent money doing it. It just seems like a lot of capital up front if youre new to it.

CarefreeDude posted...

A friend is trying to get me into it but i know nothing about it

Dont start yet. Paper trade and research first

It's basically gambling. The vast majority of day traders don't beat the market but if you know what you're doing, have a high risk tolerance and get lucky you can get ahead. I personally wouldn't recommend it though.

More like week-trading

Even if you are a betting god, the broker fees will kill you if you day trade

its a big gamble if you're an amateur

I was gonna say, day trading is a myth if you're poor. How poor? If you have to ask, you're too poor.

Invest your time in a better hobby, I say. Maybe even something you actually want to learn and do. Your friend is basically gambling.

Ill teach you how to play poker if you want

As others said, it's a rich man's game. If you're looking to get rich, probably not for you

No, I don't have the right mindset for it. Selling too early or too late really gets to me.

She was a day trader, one way ticket yeah

From the people around me I've seen doing it, it's a lot of work with uncertain payoff, so I wouldn't regard it as any more sure than any get rich quick scheme. I do invest, but long term and boring, and as best as I can, emotionless.