No one is “keen” at day trading, some people get lucky and think they’re talented. The vast majority lose money because the big players make sure of it.
you definitely have people who go positive in day trading on average more than not by following some patterns and such, its just most people lack the kind of skills to do it and usually do worse than the index (even if they go positive)
I quit trying to day trade ages ago. I put my bigger investments in indexes or companies I think I’m more familiar with than “wall street” and usually long term hold.
If you have the money to spend/blow, the “correct” approach is to:
Put the vast majority if your money into stable investments. Index funds, bonds, etc. You should have a retirement fund with at least one of the major companies (I have had good experience with Vanguard and Fidelity) and they can help with that. This is for retirement and the like.
Put a VERY small amount into “one off” purchases of various stocks. Stuff like “I think this apple computers might take off some day” kind of purchases. This is not a retirement fund. This is gambling. But it still might mean you have money for a kitchen remodel or a rainy day.
But if you don’t have money to “throw away”? Do not buy individual stocks. Or crypto. Or anything other than what you need to have a life after you age out of the workforce because late stage capitalism.
Most of my etfs are doing better than my stock purchases, but I have had a couple big wins over the years. I’m expecting my reddit put options to be another, though.
I’ve given up on buying stocks for individual companies. I’d rather just stuff it in an index fund and pretend it doesn’t exist for 10 years.
the average person usually doesnt beat the average index fund, so if you arent keen at day trading, dont do it.
No one is “keen” at day trading, some people get lucky and think they’re talented. The vast majority lose money because the big players make sure of it.
It’s literally just gambling, but nobody looks at a guy who won $50k at blackjack and says “hey I can make a career out of that.”
Blackjack is normally gameable.
https://en.wikipedia.org/wiki/Card_counting
I mean, I sure wouldn’t want to do it as a career, but it’s possible to beat the house over the long run depending upon how they’ve structured play.
That being said, I get your broader point, and there are obviously games of chance for which this is not true.
you definitely have people who go positive in day trading on average more than not by following some patterns and such, its just most people lack the kind of skills to do it and usually do worse than the index (even if they go positive)
I quit trying to day trade ages ago. I put my bigger investments in indexes or companies I think I’m more familiar with than “wall street” and usually long term hold.
If you have the money to spend/blow, the “correct” approach is to:
But if you don’t have money to “throw away”? Do not buy individual stocks. Or crypto. Or anything other than what you need to have a life after you age out of the workforce because late stage capitalism.
My one-off is still GME. Diamond hands.
The thousands of rounds of ammunition I purchased during the height of covid has gone from 32 cents to 42 cents per round.
Me too generally. But on a whim i bought 100 shares of NVDA back in 2019, and god damn has it been good so far.
Preach it loud and wide.
I mean only because it’s a scam, like a rigged casino (I know the rigged is redundant)
That’s advice I’ve been given many times in my life. If I had any money to invest, that is likely how I would do it.
Most of my etfs are doing better than my stock purchases, but I have had a couple big wins over the years. I’m expecting my reddit put options to be another, though.
Didn’t know da brutal yet kunnin’ boss of bosses was also a shrewd investor
Do ya have any teef in da shiny choppa index?