Stocks

[sub_thug]

Who knew that MMA fans were so financially conservative and risk intolerant? Didn't expect that, here. This thread and the forum's aversion to short-term technical trading reminds me of a scene from Seinfeld where Jerry buys George some sunscreen:

GEORGE: 25? You don't have anything higher?

JERRY: What, are you on Mercury?

GEORGE: I need higher. This has paba in it, I need paba-free.

JERRY: You got a problem with paba?

GEORGE: Yes, I have a problem with paba.

JERRY: You don't even know what paba is.

GEORGE: I know enough to stay away from it.

lol....goodnight, Gentlemen

I'm not saying that you should buy and hold things forever all the time, but day trading? Trying to predict price points throughout the day is guessing. That's why serious investors don't do it like that. Besides, it's better to own stocks for at least a year for the tax benefits alone.

 

[indo80]

Day trading is the best way to lose all your money. It's gambling.

“When we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever.”
-Warren Buffett

I agree with you that it is terribly difficult to make it as a day trader and most guys will lose their shirts in the process. However, there are a few that will make it and it looks like steve has been at it for years so he must be doing something right. He may be that 5-10% of the traders that is making it long term.

I would not recommend day trading to anyone but i do realize a small minority will have the right mindset to make it.

 

[CatchOmega]

Your biggest mistake is trying to time the market, if you had kept all of the shares and didnt sell one you would probably be well in the green. Trust me timing the market is a lost cause which ive learned over the years.

Some of my biggest early sells came after I held on to a few duds that I lost 98% on each. I was shook from my previous losses and eager to make a return. Had I held on I probably would have made about 30k, instead I made about 1k lol.

I find that I'm only as confident as my last trade. The mental side of this game was something I didn't really anticipate.

 

[CatchOmega]

No worries, just don't lose too much while you're learning to stay cool and unaffected by every move. Also read everything you can on markets.

My first trade was in 2000, right at the top of the Internet bubble. I bought a few random stocks and they doubled in a couple days. I was expecting to retire in a year with those returns! Of course I rode them all the way to zero...lol. But that's how you learn.

Yeah I've definitely learned a lot. The money I put into the account I was willing to lose, albeit I wasn't seeing that as a realistic possibility... but now that I'm down I'm either going to 0 or eventually making a profit. I'll survive either way.

 

[SuwoopBangin]

I've just created a tdameritrade account a few days ago, and boy is this a lot of information to take in. Anybody have any protips to throw my way?

 

[bad seed]

If I could go back 7 years, I'd put it all on Domino's, bitcoin, and Holly to beat Ronda.