Day Trading Stocks

I burned through like $3K last night on online shit. Bet $3K overall and left with $38 in account. LOL, destroyed.

I am looking for something with a longer fuse, and back when I was right out of college I day traded stocks as a hobby, but we are going back to late 90s / 2000s.

I never did make any money, but I knew several that did especially those that believed in Amazon and Priceline. (For the record they lost it all in oil/gas wells in 2007)

I am not looking to day trade too much, maybe $25K at the max at a time.

Has anyone had any success lately day trading stocks and are you using a program? I am looking for 10% return each month, with a stop gap of the same in reverse. I al also looking for stock tips over $10 a share. No penny stocks.

http://agshost.net/clients/plumber/w...let-repair.jpg

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Originally Posted by Tyde

http://agshost.net/clients/plumber/w...let-repair.jpg

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HOF


Tyde BACK!!!

Where u been bud???

You need to maintain at least 25k in funds to legally be allowed to day trade. That means you fall below 25k one day you have to reload to 25k. You'll honestly need about 100k. Can maybe do it with 50k, but probably not worth it.

Good Luck.

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Originally Posted by anonamoose

You need to maintain at least 25k in funds to legally be allowed to day trade. That means you fall below 25k one day you have to reload to 25k. You'll honestly need about 100k. Can maybe do it with 50k, but probably not worth it.

Good Luck.

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WOW, a lot has changed. Or is this bullshit? Probably is.

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Originally Posted by Tony

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Originally Posted by anonamoose

You need to maintain at least 25k in funds to legally be allowed to day trade. That means you fall below 25k one day you have to reload to 25k. You'll honestly need about 100k. Can maybe do it with 50k, but probably not worth it.

Good Luck.

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WOW, a lot has changed. Or is this bullshit? Probably is.

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The main rule is that in order to engage in pattern day trading you must maintain an equity balance of at least $25,000 in a margin account. The required minimum equity must be in the account prior to any daytrading activities.

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http://en.wikipedia.org/wiki/Pattern_day_trader

You could maybe do 12.5k liquid and 12.5k margin, but good luck getting approved for that. Also, yet again, once you fall below 25k, which you will, you'll have to reload.

Just back Tyde in the main event and spend the other $15k on his accommodation, travelling, and partying expenses.

You'll just be flushing the money down the toilet otherwise.

Honeymoon Fail #2

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Originally Posted by Tony

I am looking for 10% return each month, with a stop gap of the same in reverse. I al also looking for stock tips over $10 a share. No penny stocks.

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Also, this is statement is a total lol in so many ways.

1. You can get a 10% return each month but more than likely you'll be facing 20% one month and -50% another month. The goal should be for a year and it should be anywhere from 15-20% for the year.
2. Stock valuation prices aren't indicators of how strong or weak the company actually is. It has to do with the supply of the stock. If there's a 1 million shares for a company worth 1 million dollars then shares are only going to be roughly $1.00. The goal is to find shares that are undervalued or overvalued and act accordingly. Whether it is a "penny" stock or not is irrelevant. In fact as a day trader you'll need to be readily eye'ing up those types of stocks as they can often provide the most return in the shortest period of time.

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Originally Posted by Tony

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Originally Posted by anonamoose

You need to maintain at least 25k in funds to legally be allowed to day trade. That means you fall below 25k one day you have to reload to 25k. You'll honestly need about 100k. Can maybe do it with 50k, but probably not worth it.

Good Luck.

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WOW, a lot has changed. Or is this bullshit? Probably is.

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Anonamoose is right. He is also giving good advise about the $50k.

Day trading minimum equity: the account must maintain at least USD25,000 worth of equity.

Margin call to meet minimum equity: A day trading minimum equity call is issued when the pattern day trader account falls below $25,000. This minimum must be restored by means of cash deposit or other marginable equities.

Pattern day trader is a term to describe a stock market trader who executes 4 (or more) day trades in 5 business days in a margin account, provided the number of day trades are more than six percent of the customer's total trading activity for that same five-day period.

Bottom line $25k or lose margin privileges and life will suck.

Amazon & Priceline binkage is not an example of day trading. There is day trading, swing trading (couple of days), and investing - which I know nothing about.

Day trading is to stocks what grinding cash is to poker. It's a living.

Finally, if your plan is to just load an account and gamble I would recommend you just donate the dough to charity. Just as the pros rape the fish at the poker tables - the same thing happens to noob traders.

Read about candlestick charting, sign up to a trading forum/group, and paper trade the market in real time 7 hours a day.

If you want to gamble markets, stock, oil, whatever for short money I think Nadex is pretty cool. $100 minimum.

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Originally Posted by Tony

I am looking for 10% return each month, with a stop gap of the same in reverse.

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Stops should be tighter than targets.

Deposit 5k and grind minis. lol

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Originally Posted by DJ_Chaps

Deposit 5k and grind minis. lol

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If you have any room for another sickness in your life you should take a look at Nadex.

There is some noob money to sponge up there as fish panic and sell at bad prices as experienced traders shake them out.

I got my cock chopped off demoing that. IIRC, no real money action for Canada. Thank fuck.

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Originally Posted by DJ_Chaps

I got my cock chopped off demoing that. IIRC, no real money action for Canada. Thank fuck.

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You mean "Thank fuck" cause it is specifically designed for the truly sick and there is no 12 step program yet?

Oil a couple of months ago coupled with a cold rack of beers late at night ... up til 4:30am (only guy posting then was Chinamaniac) everyone has their own idea of fun, right?

It is a lot hard harder to day trade stocks now than it was even as recently as 2007 really since the lending crisis. One problem is the that liquidity is way down, the volumes are just not what they used to be. Another problem is the high frequency trading using computer algorithms to step in front of humans trading.

In 2005, I personally knew about 20 guys who made their living day trading. I think I know 1 or 2 who day trade the "opening" or OPG trade for profit and that type of trading is only available to pros or prop firms, not to just regular dudes with an Etrade account.

I still dabble in stock trading but I almost never make a day trade. My time frame is weeks or months and I try to make 4 or 5 dollar moves rather than the 7 or 8 cents I used to go for. I would guess 80% of my trades are fully hedged or "paired". The other 20% are purely speculative and mostly long positions on stocks in the 10 to 20 bucks per share range. Those trades are swing trades and are fully automated by an excel sheet linked to a Redi trading platform. I pay this other trader $40 a month for his automated program ( I dont know squat about programming or coding).

There may be +EV opportunities to day trade options or futures or currency ( I don't know those markets well), but I would recommend avoiding trying to day trade stocks for profit in the current environment. The few remaining prop firms are fighting against these high frequency traders and have had multiple meetings with the SEC, but I have not heard any talk of it going away. Obviously google High Frequency Trading for more info.

Peace,

Hozer11

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Originally Posted by Hozer11

It is a lot hard harder to day trade stocks now than it was even as recently as 2007 really since the lending crisis. One problem is the that liquidity is way down, the volumes are just not what they used to be. Another problem is the high frequency trading using computer algorithms to step in front of humans trading.

In 2005, I personally knew about 20 guys who made their living day trading. I think I know 1 or 2 who day trade the "opening" or OPG trade for profit and that type of trading is only available to pros or prop firms, not to just regular dudes with an Etrade account.

I still dabble in stock trading but I almost never make a day trade. My time frame is weeks or months and I try to make 4 or 5 dollar moves rather than the 7 or 8 cents I used to go for. I would guess 80% of my trades are fully hedged or "paired". The other 20% are purely speculative and mostly long positions on stocks in the 10 to 20 bucks per share range. Those trades are swing trades and are fully automated by an excel sheet linked to a Redi trading platform. I pay this other trader $40 a month for his automated program ( I dont know squat about programming or coding).

There may be +EV opportunities to day trade options or futures or currency ( I don't know those markets well), but I would recommend avoiding trying to day trade stocks for profit in the current environment. The few remaining prop firms are fighting against these high frequency traders and have had multiple meetings with the SEC, but I have not heard any talk of it going away. Obviously google High Frequency Trading for more info.

Peace,

Hozer11

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Day Trading is an absolute FARCE.

I'm sure your $40 a month "automated program" is profitable... fucking assclown.

:lol2

Krypt,

I feel like you didnt read my post very closely..I recommended against day trading stocks and said I have no idea about the markets like derivatives and currencies
As far as your comments on the program I use...it is just a basic spreadsheet that links up to my trading platform. It doesn't recommend trades or stocks or anything like that it just enters buy and sell orders when the prices I put in are hit. This allows me to make simple trades when I am away from my computer.

It is only $40 because it is so basic and lots of people could do this themselves.

In regards to me being a "fucking assclown" I dont understand where the anger is coming from, I was just trying to tell this guy to watch out for day trading stocks.


Hozer11

You are better off taking the whole $25K and betting in on red or black at the roulette table than day trading.