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/biz/ - Business & Finance

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16790795 No.16790795 [Reply] [Original]

>just started day trading earlier this week
>already down $800

Why is this happening?

>> No.16790808

You're supposed to paper trade first, dumb dumb.

Now why did you start daytrading in the first place, if I may ask? Boomers at work brag about their gains in the past year?

>> No.16790817

If you are sitting at a poker table for 30 minutes and can't figure out who the patsy is, the patsy is you.

>> No.16790823

>day trading
this is why

>> No.16790825

>>16790795
It's going to get worse, my freind.

>> No.16790836

What platform do you use?

>> No.16790851

>>16790808
Because I simply don't want to get a job. And I heard about the 'scalping' technique where you buy stocks as they're going up, and then quickly sell&repeat multiple times
But it seems like literally every time I buy a stock that is going up immediately dumps and I lose money
>>16790836
Questrade, leaf here. I lost 800 in USD though

>> No.16790870

Here's an important bit of advice that you might find useful. If you buy something at a certain price, and then after you buy it, the price goes up, you can then sell it for more than you bought it for. So the idea is, you buy something, wait for it to go up in price, and then sell it. This is called the 'buy low, sell high' strategy. Something to consider anyway.

>> No.16790876

How long did you research before trading?
I did simulation research on my own in a shitty little excel sheet for almost a year before I started doing real trading in small quantities. I only make like 400-600 bucks a month now but its pretty reliable

>> No.16790924

Make sure you pay taxes on your capital gains. LOL

>> No.16790928

>>16790876
I'll probably do this for a while now to get the hang of it
It just seemed so simple, if I trade a thousand of a low [rice share, it goes up by 0.10, then I get $100, I was just expecting it to happen every time.

>> No.16790943
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16790943

>>16790795
what account size and what trades so far?

>> No.16790971
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16790971

>>16790795
trading is ez
shorting BTC at 12k was the most free money i've ever made

>> No.16790980
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16790980

>>16790795
i call those "learning experiences"

>> No.16790989

Use this one weird trick to become rich

Invest and stake XTZ

Day traders hate it

>> No.16790994

>>16790943
Started with 2000, now minus 800
I was going to add another 2000, it takes a few days with my broker though. I've got probably about 12k I'm comfortable allocating to trading though, just wanted to start slow, however I should have practiced more
I've been trying to snipe pretty much any stock that's on its way up, today I tried WAFU but I got faked out, something similar happened with CEI also

>> No.16790997

>>16790876
An excel sheet? What is included on it? How do you use that?

>> No.16791004

>>16790823
The last few months, I've averaged 10% returns on my investing capital every month. Last 4 weeks, I'm up 2 grand by doing multiple trades every day, reading reports and doing technical analysis. Day trading is great if you know what you're doing.

>> No.16791055

>>16791004
Any good resources you used to learn?

>> No.16791060

>>16791055
Investopedia. Very good resource.

>> No.16791080

the first rule is never ever day trade its just a meme. you will get chinked pretty quickly. i had to lose 1200$ to learn that.

just buy and hodl. never sell.

>> No.16791105
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16791105

>>16790795
>he fell for the day trading meme
Which youtuber tricked you?

>> No.16791174
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16791174

Day trading is legit as long as you're not trading crypto

>> No.16791178

>>16791105
Which skit's this from

>> No.16791197

You ever try to cross a river holding a really heavy bag? That's you right now, you're in the middle of the Amazon river and sinking fast

>> No.16791206

>>16790851
Scalping is for high frequency trading bots son. We are not in the 80s anymore

>> No.16791321
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16791321

>>16790795
"Timing the market is worth far less than time in the market"
Nowhere is this more true than in crypto

>> No.16791587

>>16791178
100% tax

>> No.16791681

>>16790795
You realize that you are taxed every single time you trade too right? It is far better to study the business and buy stock in one company to hold for the long term than it is to daytrade.

Actually it's better to just invest in low expense index funds.

>> No.16791695

>>16790851
> I simply don't want to get a job
> Wojack posting after losing $800
I got some bad news for you Anon...
However there is some good news: invest in dividend stocks and one day you will have passive income and will not need to work.

>> No.16791701

>>16790876
$400-600 a month sounds splendid to me. Tell me you reinvest.

>> No.16791720

>>16790924
That's why you should stick with leverage trading crypto. Just short or long shitcoins and accumulate bitcoin. Unless you are American, you can then cash out your crypto in some EU country which barely taxes crypto if at all

>> No.16791750

You should really put some serious time into studying trading before blowing money dude, lol.

>> No.16791789
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16791789

>>16791750
I know man. It just seemed so simple though, I thought I'd buy as a stock is going up, sell once it's gained a little bit without getting too greedy.
But literally every time I've bought a stock, it's immediately gone down. I'm starting to think I'm unlucky. But either way I'm going to spend a few days studying without actually spending any money.

>> No.16792432

>>16790795

you need to understand the math of winning trades. if you don't you'll 0 your account and fast. look up the "edgewonk math cheat sheet"

You'll also need to have an edge. I'd recommend making sure you understand the fundamentals of price action.

good luck brother

>> No.16792445

Day trading, lol.

Good luck.

>> No.16792450

>>16790795
only 800?

>> No.16792457

>>16791789
sell signal

>> No.16792471

>>16791750
resources pls

>> No.16792474

>>16791004
It's called luck. You can't beat brownian motion consistently. There is a lot of math behind that statement. You're bound to incur losses in the long run to balance your expected value of 0.

>> No.16792477

>>16790795
>just started gambling
>lost money
wtf guys?

>> No.16792483

Trading is luck and artistry.
The best traders cant (or wont) explain their edge.
As far as i can tell any activity with a 40%-30% margin of error is just very close to random. The smallest thing can fuck your shit up

>> No.16792503

>>16791004
>i got lucky for a bit this will continue forever and will definitely not end up like OP

>> No.16792529

>>16791004
Do you have a particular trading strategy you can share?

C'mon share your technique so the extremely rare moment of valuable information on /biz/ is being shared to distract from unfiltered, pure shitcoin LinkJeet posting

>> No.16792536

>>16792529
>linkjeet
>is begging for a day trading strategy
just lmao

>> No.16792537

>>16792529
>>16792529
You're absolutely the kind of person to get scammed. Some random person says he has made X money doing something that any smart person knows is not sustainable. And here you are begging for the secrets. Send him 1 BSV and he will tell you.

>> No.16792547

>>16792536
Yeah. Fuck me for wanting an intelligent discussion in this place to distract from the fact theres more LINK threads than there are atoms in the universe.

>> No.16792563

>>16792537
I highly doubt I'll get scammed by him telling me he uses something like divergence trading our breakout strategies

>> No.16792565

>>16792547
If you want intelligent discussion look up martingale probability theory. Coin prices may have an upward or downward drift that long term traders can profit by going long or short for an extended time, but in the short term (a single day or less), the price movements are stochastic and are martingales.

>> No.16792569

>>16790851
Don't buy the top, fucking retard.

>> No.16792577

>>16790795
hi

if i open a td account, can i start trading options or do i have to pass a test?

thanks

>> No.16792589

>>16791004
And guess what, you can easily make
More than 2k/mo at a traditional job without it having to be 100% dependent on your skill at trading day in and day out.
Day trading is the biggest fucking meme on earth sold to retards like you

>> No.16792652

>>16791789
>I thought I'd buy as a stock is going up, sell once it's gained a little bit without getting too greedy.
>But literally every time I've bought a stock, it's immediately gone down.

Because you're literally buying high and selling low. Day trading is for computers, insiders, and lazy retards. Swing trading is the only way to make actual money trading, but that requires more patience than you likely possess

>> No.16792657

>>16792589
Why are you so angry? If daytrading is sold to retatds, then it must be very easy to be profitable . You make zero sense

>> No.16792742

What indicators do you use?

>> No.16792788

>>16792657
It's easy to be profitable day trading in the same way that it's way easy to be profitable at blackjack. If luck is on your side then great, if not you'll get fucked without proper risk management. Retards see how easy it is to make money without understanding that the converse is also true.

>> No.16792901

>>16790795
>don't day trade
>if you do, at least use exchanges with less bots and small fees (CoinZoom trying to do one)

>> No.16792961

>>16792657
No, it’s incredibly difficult to be profitable which is why it’s sold to retards, since they’re the only ones stupid enough to think they make make a living or even halfway decent money day trading

>> No.16792969

>>16792901
CoinZoom? Never knew that.

>> No.16792980

>>16790795
I got rekt and lost 3k a few months ago. Shit gets me pissed because had I shorted instead of longed, I would have x2.

Market is controlled by god and god targets you specifically. TA doesnt work when god hates you.

>> No.16792999

what assets do you trade?
pick only one or two that you understand really well

>> No.16793001
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16793001

>>16790795
Boy you got rocked by market panic selling because of the Iran meme. You now have a twisted notion of what trading is. Did you sell out of your positions? Sounds to me like you have a serious case of the soft hands.

>> No.16793046

I don't day trade, but I trade short range like a week or 2 out. I just look for good companies being treated irrationally. Find a stock of a company that is ultimately reliable and is suffering irrational losses. Playing post earnings is great, you can see a good 20% drop because numbers barely missed expectations, and then suddenly a week later 15% is back.