# Day trading - worth it or no?



## ThreadMatters (Nov 11, 2019)

I posted this on bitcoinstalk. See yourself






How can i make 50.000$ fast ?


How can i make 50.000$ fast ?



bitcointalk.org





Idk how the fuck can i make 50.000$ for surgeries before i will be 20 years old... im running out of ideas fuck


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## Deleted member 685 (Nov 11, 2019)

You decide


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## ThreadMatters (Nov 11, 2019)

Gudru said:


> You decide


Spending 10k on trade manuals and 4 full months of reading and analyze them idk what to say. Just when i hear this my motivation is underground


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## born2shitforced2wipe (Nov 11, 2019)

yes im sure you can outsmart thousands of fortune 500 companies and their army of traders working for them, you will be rich in no time bro


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## TheMewingBBC (Nov 11, 2019)

Worth it. Remember what I told, learn as much technical analysis skills as you can and practice on a demo account. Learn to trade the news and be on the lookout for some market changing news so you could ride the trend early

The fastest way you can make 50k is by constantly flipping your profit and equity. You don’t take anything out, every profit you make is use to open more positions. BUT YOU HAVE TO BE SUPER SKILLED TO DO THIS, THATS WHY PRACTICE ON A DEMO ACCOUNT.


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## eduardkoopman (Nov 12, 2019)

High risk , high reward potential.
Need good skills.

I tried it in 2014 2015. I traded on pretty big margins. I Lost about 5000.

Nowadays I don't daytrade. But I do buy stocks and etf's and some bitcoin. I started that in 2016. Put in about 10.000 and am at a 3000+ loss orso ATM.
I obviously suck at it so far. I have a tendency to take to much risks. My 3000 loss is just due to 1 stock I kept doubling down on as it was falling. In my eyes it was a bargain that kept getting cheaper.


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## ThreadMatters (Nov 12, 2019)

eduardkoopman said:


> High risk , high reward potential.
> Need good skills.
> 
> I tried it in 2014 2015. I traded on pretty big margins. I Lost about 5000.
> ...


What is the best bet earning 30k in a year? What should i try? Day trading or smth else? Or should i just invest in bitcoin ?


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## autistic_tendencies (Nov 12, 2019)

Anything other than wage slave is worth it


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## Dogs (Nov 12, 2019)

you can actually make decent money day trading if you do it smart, but don't expect to get rich af unless you're extremely smart.


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## TheMewingBBC (Nov 12, 2019)

eduardkoopman said:


> High risk , high reward potential.
> Need good skills.
> 
> I tried it in 2014 2015. I traded on pretty big margins. I Lost about 5000.
> ...


What skillset did you have before getting into trading?


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## ThreadMatters (Nov 12, 2019)

Dogs said:


> you can actually make decent money day trading if you do it smart, but don't expect to get rich af unless you're extremely smart.


Decent money meaning what in a year without gambling and play it safe?


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## eduardkoopman (Nov 12, 2019)

ThreadMatters said:


> What is the best bet earning 30k in a year? What should i try? Day trading or smth else? Or should i just invest in bitcoin ?


Imo, allthough I have a shit track record so I can't come from any place of authority.

Passive-ish "trading", is good for people that use it basically for long term saving (like for retirement, or whatever purpose). Probably best to just put it in some range of etf's. And let it sit there then. I'm kinda like that now atm, except I'm a little bit to active, and didn't stick to etf's but went to individual stocks I thought were cheap/bargains. Atm, I'm more into etf's; and I just started buying bitcoin, for 1500. I like to add bitcoin to the saving mix.

Daytrading, is good for people that have that skill and the right temprement. Probably for most, daytrading is more like speculatiing. Although some are skilled enough to create a probablityof like 60%; so they will come out on top in the long run. I tried it a bit, and I noticed I lacked the right temprement. I am way to relaxed and comfortable (emotionally) with take to big risks. Causing me to take to big losses.

Imo, buying bitcoin for longterm saving is good. For daytarding bitcoin is due to it's high volatility also great, with big potential for big gains and likewise big losses.

With daytrading. You basically need to learn, to find probabilty above 50%. So you have to develop the skill, to make bets where you have a more then 50% chance of making money. Your trackrecord over time will tell, if you hit higher then 50%. And for the percentage of time on makes the wrong bet, one needs to be able to minimize the losses.
My bets, most often missed the correct timing in the past. Like, my bet of gold going up got wipped out on monday 12 o'clock due to a drop, while the big upwards I expected happened at 5 o'clock but I wasn't in anymore because I got wiped out by the 12 o'clock drop. So timing is key as well with daytrading.



TheMewingBBC said:


> What skillset did you have before getting into trading?


Back in 2014, I almost only daytraded precious metals and some forex. I had little skillset in it. I tried to see patterns, and tried to catch movements happening at market openings in USA or China. Gold and silver bottomed in the end of 2015, and I was betting in 2014 for it to have bottomed most of the time, trying to catch the falling knife. I was 1+ year early, and lost 5000 on this.

Nowadays. I use it as a added retirement plan. Or saving for later/older times. So I have a horizon of like 30 years. My only skillset, is that I can read financial statements well. I will move mostly to etf's now, and some crypto. Maybe a little bit of individual stocks, for the fun of it.


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## TheMewingBBC (Nov 12, 2019)

ThreadMatters said:


> I posted this on bitcoinstalk. See yourself
> 
> 
> 
> ...


Almost Everybody in that thread gave you sound advice. Your expectation for crypto trading is way too high. You have no experience and little to no capital to even think about 50k first year. All those videos and Youtubers you quoted like Ricky either had a lot of capital to order the positions needed to make that much or they were purely gambling (its a certain point where the type of risks someone is taking shouldn’t be called investing but gambling)
Even Ricky will tell you your expectations with your skill level and capital is stratosphere tier high

Day trading requires having a realistic goal, like $100-200 a day. Constantly aiming at a big goal will just create greed and with greed comes bad trading decisions
Day trading isn't for everyone. That why I like bitcointalk, despite the potential they’re very realistic. You need to focus growing your capital and skillset to make that amount. Even though I told you I wasn’t sure, I remember naively quoting you that it will take at least a year to get 50k. I was in a rush so I gave you a quick answer. But truthfully my answer applied mostly to forex trading and hodling. I have friends making 60k first year from forex (granted they learn and practiced for more than that time length) and I have heard people making more than that from hodling and selling in the 2017 bubble. But not everybody will get the same results. I do believe day trading is legit, but only for those with the passion to learn the skillset and have realistic goals.
I have never heard anyone making near 50k in a short amount of time from just crypto trading with little money The best and safest way to make that much is to learn a trade, apprenticeship or a skill that requires certification like forklift. Apply for any job you can get that requires such skill. Every two-three months update your resume, inflate your skills by three folds, and apply for an even higher paying job, but you have to be a fast learner to be convincing. If you're really to take the risk use your new money and buy and hodl crypto (do your research on the best ones) or trade forex and crypto ONLY IF YOU HAVE THE NECESSARY SKILLS. Having a job and a passive income will help you get to that 50k quickly


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## wellthatsucks (Nov 12, 2019)

I'm also interested in day trading and I've been reading a little on /r/daytrading so take what's said here with a grain of salt

A lot of people lose. A lot. I've heard as much as 98% of traders lose

The few percent that win consistently are very much in control with their emotions when making decisions, accept defeat quickly, have a solid grasp of human psychology, technical analysis, have different strategies for the dynamic market and know when to apply them and overall have tons of experience, documenting every trade they have made to learn from their mistakes.

also definitely use stop losses

Now is it viable to learn day trading to earn quick money to pay off surgeries? Most likely not. If you have a small capital of say 1000usd better trade forex or Bitcoin futures or micro e mini futures.


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## TheMewingBBC (Nov 12, 2019)

wellthatsucks said:


> The few percent that win consistently are very much in control with their emotions when making decisions, accept defeat quickly, have a solid grasp of human psychology, technical analysis, have different strategies for the dynamic market and know when to apply them and overall have tons of experience, documenting every trade they have made to learn from their mistakes.
> 
> also definitely use stop losses


Good note. Especially the last two. Document every profit and loss and uses stop losses.
98 of beginners fail in the first place because if greed. They don't know when to stop and jump in without having absolutely no skill whatsoever, just so they can make a quick buck. Gore's and ignorance kills in this field


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## turkproducer (Nov 12, 2019)

Lifestyle, success, power, confidence, money, investing, and luxury.


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## BengaliDoomer (Jan 23, 2020)

Most people don't make a huge amount of money day trading. Its probably not worth it in my opinion. I would suggest doing something like being ACT or SAT tutor because I made $30-40 per hour after getting a perfect on my ACT. The downside to this of course is having to devote a huge amount of time to this in the afternoons since most people will want tutors to come after their kids are home.


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## Dogs (Jan 23, 2020)

You can make money on day trading you just have to be better than the average day trader


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## BengaliDoomer (Jan 23, 2020)

Another thing you can do is deal drugs like molly (which have a large profit margin) by ordering via the dark web or scamming people via credit card information also on the dark web.


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## Shekelcel (Jan 23, 2020)

Try gambling with 50% chance. If you lose just rope


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## Barbarossa_ (Jan 23, 2020)

Here is a reality pill my nigga
*WARREN FUCKING BUFFET* himself makes about 20% profit each *YEAR* from trading stocks and forex so unless you have like a million dollars to invest it's not worth it


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## Gonners (Jan 23, 2020)

why not try dropshipping?


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## Deleted member 275 (Jan 23, 2020)

sara sampaio


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## Deleted member 3593 (Jan 23, 2020)

Insanely massive learning curve, evergone loses money starting out. Unless it’s something you’re willing to stick to for years and years then I wouldn’t bother.


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## TheMewingBBC (Jan 23, 2020)

Too$hort said:


> Insanely massive learning curve, evergone loses money starting out. Unless it’s something you’re willing to stick to for years and years then I wouldn’t bother.


The people that lose money at the start either didnt properly develop the skill set needed, didnt have the emotional stability or patience to use their skills to make a good entry and exit, or they had shit risk management.

Majority of the times it's the latter two. Last year was my first year trading and my p/l from forex is near five figures, and with crypto its twice as that.


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## Deleted member 3123 (Jan 23, 2020)

TheMewingBBC said:


> Worth it. Remember what I told, learn as much technical analysis skills as you can and practice on a demo account. Learn to trade the news and be on the lookout for some market changing news so you could ride the trend early
> 
> The fastest way you can make 50k is by constantly flipping your profit and equity. You don’t take anything out, every profit you make is use to open more positions. BUT YOU HAVE TO BE SUPER SKILLED TO DO THIS, THATS WHY PRACTICE ON A DEMO ACCOUNT.


Indeed when i heard the first tweets about iran i immeditly bought lockheed martin, northrop, and raytheon. Made like 2000 with 50k.


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## Deleted member 3593 (Jan 23, 2020)

TheMewingBBC said:


> The people that lose money at the start either didnt properly develop the skill set needed, didnt have the emotional stability or patience to use their skills to make a good entry and exit, or they had shit risk management.
> 
> Majority of the times it's the latter two. Last year was my first year trading and my p/l from forex is near five figures, and with crypto its twice as that.



right on bro i cant disagree , there's a lot of money to be made in it but it requires 100% focus and a proper plan. whats ur favorite forex pairs? gbpjpy was my go to , haven't checked it in a while though hah.


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## Gosick (Apr 24, 2020)

You need money to make money IMO via day trading.


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## waterwater (Apr 24, 2020)

go to reddit /r/ wallstreetbets

There are 18 years old who have turned $800 into $100,000+ in a few months by getting lucky on some trades. 

You will need luck. Download Robinhood, enable options, put in $2k and buy a Spy Put with late june expiration and you will make money imo


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## jackthenerd (Apr 24, 2020)

Don't even bother. You're competing vs bots and machines.


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## Gosick (Apr 24, 2020)

jackthenerd said:


> Don't even bother. You're competing vs bots and machines.


not true at all, stop spreading misinformation.


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## ThreadMatters (Apr 24, 2020)

Why tf niggas still replying to a pre corona thread
Best to do now is e whoring tbh

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## Improve or die (Apr 25, 2020)

A big reason why people achieve great returns and dont get emotional about their trades is because the money they are trading with is surplus to requirements. You should aim to have diverse robust savings that mean even in the event you completely blow out you can restart from scratch and maintain your lifestyle all along. 

The goal of 50k in a year is borderline impossible and is flawed is so many ways. Imo you should not set a revenue goal and a set timetable for the first few years you're learning, and you definitely should not start live immediately. 

If you wanna do this the right way and hopefully one day retire early from your job the framework is basically :
- Live frugaly and learn about investing and trading. 
- Put evert dollar you dont spend in savings until you reach A1 (amount1) 
- Once you reach A1 starts putting 70% of the money you dont need into investing and trading (both long and short term). Dump the remaining 30% into savings. 

A1 and the percentages will depend on your situation (age, living with parents or not, job security, living abroad or not...). 

The point of savings is to make investing an emotion free job as much as possible.
This is if you are thinking about doing this long term and accumulating wealth. If you wanna get a quick buck then you can jump in with a big amount and have 0 savings but know that you are gambling at that point, and most gamblers lose. 

Btw once you know enough savings can be a lot of things. Etf, reits, gold, S&p 500 even real estate(since most of it will appreciate and bring you passive cash flow that you dump in investing). Point is it should be diverse enough to survive any black swan event like the one going around now.


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## Deleted member 685 (Apr 25, 2020)

ThreadMatters said:


> Why tf niggas still replying to a pre corona thread
> Best to do now is e whoring tbh
> 
> FREE GUIDE FOR LUCKY MUFUCKERS
> ...


Yeah retard just tell it to everyone and increase competition


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