d2jsp
Log InRegister
d2jsp Forums > Off-Topic > General Chat > Investment & Finance > Anybody On Here A Successful Day Trader?
Prev123
Add Reply New Topic New Poll
Member
Posts: 5,618
Joined: Jan 13 2004
Gold: 126,873.00
Sep 20 2021 11:43am
x.x

This post was edited by thepen on Sep 20 2021 11:50am
Member
Posts: 2,877
Joined: Oct 1 2007
Gold: 103.00
Sep 20 2021 11:54am
Not a phenom, not a professional, but have modestly outperformed my company-matched IRA (somewhere between 30% and 50% avg annually) since I started day trading in early 2018.

Single biggest piece of advice unfortunately is just something I'll regurgitate that I'm sure a lot of others are saying. You can't time the market. A tantalizing position in a super-cheap company may not manifest for many weeks/months after you're in it, and I've missed out on so many multi-baggers by taking too-large positions in them and later being forced to sell what seemed like dead money that's doing nothing, in order to turn it into working capital for other newfound opportunities. If something is SCREAMING buy, it gets like 2-5% of my portfolio max, now. That's it. So many of those come along that you just don't have the capital to keep up with them unless you keep depositing.

And I'm not a day trader that attends to the charts like it's a second job. The only same day open-and-close trades I do are with indexes' options like SPY, mostly making money off volatility increases/drops, related to how I think things will go if something is newsworthy. More often than not I don't touch my portfolio in a given week. Maybe 1 out of 4 weeks of the month. It's hard to get a feel for individual companies without putting in an inordinate amount of research, and it's always nice to at least see your trades through to potentially long term capital gains tax.

This post was edited by CheatEngine on Sep 20 2021 11:55am
Go Back To Investment & Finance Topic List
Prev123
Add Reply New Topic New Poll