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  #41  
Old 20.04.2020, 15:39
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Re: Day Trading - Advice's for a beginner?

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The exact same reasons people gamble - the thrill, the blind believe that they, unlike everyone else will some how beat the odds and do well... But they never do, there is no list of famous traders who did well over the long run, there are famous traders who are known for writing books, training courses, tools etc...

If trading was a way to make money, why do you think financial institutions donít trade on their own account? They only trade in support of financial products they sell and when the do trade, they hire teams of risk managers to supervise them...

Right now you have probably the best opportunity you are likely to have in your lifetime to acquire great companies at reasonable prices, companies that will do very well for you over the next 20 years and instead of grabbing that opportunity, you are trying to figure out how to win a loosing game...
Big banks and hedge funds they do trade their book, trust me. Day trading is not their main income but they do it on the side since they have so many hours in front of the computer and they need to use their time wisely. I have seen what they do, sometimes they make money sometimes they lose but it is a good training especially for younger traders.
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  #42  
Old 20.04.2020, 17:43
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Re: Day Trading - Advice's for a beginner?

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Big banks and hedge funds they do trade their book, trust me. Day trading is not their main income but they do it on the side since they have so many hours in front of the computer and they need to use their time wisely. I have seen what they do, sometimes they make money sometimes they lose but it is a good training especially for younger traders.
Thirty years working in asset management and investment banking for the two big banks... trading on their own account is minuscule and when you add it all up, they loose...
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  #43  
Old 20.04.2020, 17:48
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Re: Day Trading - Advice's for a beginner?

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Then why people men do Day Trading? If they are going to loose anyways?
FTFY

"I can beat the odds (and I may well be the only person in the universe with that ability)" is a male thing almost exclusively. You agree that the broker always wins - where does that money come from?

Women hold for longer periods and they're less risk-embracing. Those two are by far the most important reasons why they outdo men in private investing.

That said, some lessons can't be learned from afar, some need to live them. If that's the case, make sure your losses don't affect your wellbeing, financial or otherwise.
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  #44  
Old 20.04.2020, 18:53
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Re: Day Trading - Advice's for a beginner?

Just to add to the chorus of "good luck but most people lose money". It's like picking up pennies in front of a steam roller, at first you might make gains but one mistake and you get squashed.


Banks and brokerages love it because they get commissions, fees, spreads and plenty of churn and it's seductive because you think you're in charge.
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  #45  
Old 20.04.2020, 19:07
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Re: Day Trading - Advice's for a beginner?

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Thirty years working in asset management and investment banking for the two big banks... trading on their own account is minuscule and when you add it all up, they loose...
It was a small part I agree but it was done. Yeah, win or loose it was random as most of the traders didn't really have any skills to predict the future.
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  #46  
Old 20.04.2020, 19:21
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Re: Day Trading - Advice's for a beginner?

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It was a small part I agree but it was done. Yeah, win or loose it was random as most of the traders didn't really have any skills to predict the future.
The difference between trading & investing is you can take a 5-10 year view as an investor, time is your friend.
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  #47  
Old 20.04.2020, 23:07
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Re: Day Trading - Advice's for a beginner?

Advice for a day trading novice?

1) Donít start...
2) refer to (1)
3) if you insist then play the lottery... any lottery you will lose a lot less money, you know exactly the odds of winning and you will not waste your time

PS: this is serious advice
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  #48  
Old 20.04.2020, 23:12
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Re: Day Trading - Advice's for a beginner?

there's a statistic which goes something like 90% of day traders lose 90% of their account within 90 days.

with odds like that, the question is why you would want to start and try to avoid falling within the 90% when there are likely easier and more secure ways of making money.
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  #49  
Old 20.04.2020, 23:15
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Re: Day Trading - Advice's for a beginner?

Iíll give you my advice - DONíT!
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Old 21.04.2020, 12:52
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Re: Day Trading - Advice's for a beginner?

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I am not surprised how many there are, just on how many under perform the S&P 500 year after year after year net of fees.
If you juts want to match the performance of the S&P, then buy the Spider (SPX).
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Old 21.04.2020, 12:57
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Re: Day Trading - Advice's for a beginner?

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If you juts want to match the performance of the S&P, then buy the Spider (SPX).
Possibly better to follow Warren Buffets advise & buy Vanguard 500 Index Fund Admiral Shares, which is a mutual fund rather than an ETF.
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  #52  
Old 21.04.2020, 13:21
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Re: Day Trading - Advice's for a beginner?

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I am not surprised how many there are, just on how many under perform the S&P 500 year after year after year net of fees.
Because you don't buy managers to over-perform the market outright, you buy managers to over-perform on a risk-adjusted basis, or to get very specific exposures.

Buying a long only fund on an index has no reason other than not knowing any better
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  #53  
Old 21.04.2020, 17:29
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Re: Day Trading - Advice's for a beginner?

That is total bullshit
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  #54  
Old 02.10.2020, 17:15
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Re: Day Trading - Advice's for a beginner?

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Open an Interactive Brokers account. Commissions are pretty much next to nothing.

I am exploring different brokers to move from Lightspeed (day trading just US stocks). When you mentioned low commissions, would you also include using IB to trade US stocks? It looks like there charge a big amount per shared value...Am I understanding wrong their fees commissions?
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