day trading

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5/1/2019 9:54 AM

Anyone here do any day trading? What websites do you use? I’ve got some extra money-that I can afford to I’d like to dabble in it a bit.


5/2/2019 9:53 AM

Effective day trading requires lots of money. You trade for fractions of a percent. It's also very difficult to be effective without a margin account. You can dabble in day trading with a cash account but you will quickly run out of available funds because of the 3 day rule. Also, you can't short with a cash account. Margin accounts don't have that limitation.
I did a little of it and was quickly notified that I was on the cusp of being considered a "pattern day trader". Once you have been declared such, you will have to maintain a $25,000 minimum in the account.


5/2/2019 11:40 AM

I spent some time trading on NADEX. You could give that a try. It doesn't take much to get started.


5/2/2019 12:47 PM
Edited Date/Time: 5/2/2019 12:58 PM

Day traders blow up all the time! Take your money and waste it on something else.

You could take a high risk approach and buy some oil exploration or other small cap outfit in the hope that you will get some large percentage gains. Most likely not though as they often need more funds and what you own will be diluted, somtiems many times.

Hit the casino!

If you're trading with leverage you can lose far more than you have in your account. Few years back in the currency markets the Swiss pulled the plug having held their currency back against the euro. Within seconds many people were bankrupt along with many brokers who had clients unable to pay what they owed. Some brokers offered 1000x leverage!


5/2/2019 2:55 PM

Don't try to beat the market


5/3/2019 9:21 AM

I don’t day trade but know someone who does. Once you get good there is some serious money to be made. Do your research and get a good program for monitoring stocks, a lot of people use Think or Swim. Start small. I’m still very new so I won’t give any advice other than this; Cut your loses quick, don’t hold on to a stock once it’s gone bad hoping for it to come back. You WILL have bad trades.


5/4/2019 4:48 AM

Swing trade just a few stocks. Day trading is for firms with fast computers and proprietary algorithms. Not saying you won’t make money but you won’t.


5/4/2019 6:25 AM
Edited Date/Time: 5/4/2019 6:27 AM

Buy a 10$ lawnmower clean it and sell it for 20$.