Day trading - worth it or no?

[ThreadMatters]

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

 

[Deleted member 685]

You decide

 

[ThreadMatters]

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

 

[born2shitforced2wipe]

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

 

[TheMewingBBC]

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.

 

[eduardkoopman]

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.

 

[ThreadMatters]

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.

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 ?

 

[autistic_tendencies]

Anything other than wage slave is worth it

 

[Dogs]

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.

 

[TheMewingBBC]

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.

What skillset did you have before getting into trading?

 

[ThreadMatters]

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?

 

[eduardkoopman]

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.

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.

 

[TheMewingBBC]

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

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

 

[wellthatsucks]

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.

 

[TheMewingBBC]

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

 

[turkproducer]

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

 

[BengaliDoomer]

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.

 

[Dogs]

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

 

[BengaliDoomer]

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.

 

[Shekelcel]

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

 

[Barbarossa_]

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

 

[Gonners]

why not try dropshipping?

 

[Deleted member 275]

sara sampaio

 

[Deleted member 3593]

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.

 

[TheMewingBBC]

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.

 

[Deleted member 3123]

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.

 

[Deleted member 3593]

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.

 

[Gosick]

You need money to make money IMO via day trading.

 

[waterwater]

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

 

[jackthenerd]

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

 

[Gosick]

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

not true at all, stop spreading misinformation.

 

[ThreadMatters]

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]

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.

 

[Deleted member 685]

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

FREE GUIDE FOR LUCKY MUFUCKERS


1. Get a burner phone app, or even a dedicated burner phone. Unless you want horny assholes to have your real phone #, make this your very first step. You can find these for free, but try to get a burner number with your local area code, if you can. Makes it much more believable.
2. Get an relatively unsaturated pic/vid pack. Young, old, doesn’t matter, they like it all. You just want a nude pack most people haven’t seen before. IMPORTANT: Find one with a few non-nudes THAT ARE STILL REVEALING. We want to reel them in, but we still need something for them to pay for.
3. Create a mega/dropbox for the nude pics. This will make it easier to deliver once you’re paid.
4. Create a buffer cashapp/zelle/PP/whatever payment service you want to use. Use your real one at your own risk, easier and safer to just transfer the money through a secondary account.
5. Create your description/caption/bio. This is THE MOST IMPORTANT PART. SOUND CONVINCING. SOUND LIKE A REAL FEMALE. I see too many motherfuckers doing this typing like an old man who just had a stroke, write something sexy and alluring from the perspective of a female. The caveat here is that we say that meetups aren’t allowed, due to your health concerns about the coronavirus. You’re only selling pics/vids. This is the most legitimate excuse that has been available in a while, do it’s easily believed. Put some variation of that in your own words. You’ll still get constantly hit up, because you’re dealing with horny dudes with a pocket full of money.
6. Take your NN pics and your description, and SPREAD THAT SHIT. Search for “Escorts in (Wherever the fuck you are)” and make posts on each and every site. Some sites are a one-and-done type of deal, but some you should post an ad every ~5-6 hours. Feel it out. SPREAD. THAT. SHIT.
7. Of course, now is when guys hit you up, you receive payment, and send what is paid for. Easy peasy.
8. BONUS ROUND: Scale up by posting in every city around you in your state/country.
9. BONUS ROUND 2 [DICKHEAD MOVE]: If you’re feeling like a true scumbag, skip the second half of step 7. Take the money and block them!

Yeah retard just tell it to everyone and increase competition