/biz/ - Business & Finance

>>22281286
I remember my first day
Listen bud, you don’t seem to understand
None of that shit matters
All of this is animal spirits and fairy dust
Bitmex leads the market

>>2424530
with Jews you never lose

if we're lucky enough /pol/ is gonna pick on this and make it explode in popularity

>>2393966
because it's fucking addicting
hum hum hum

>>2076884
I bought 20k ripple when I should have bought more. You'll be okay senpai just gotta get those numbers up

>>1612393

ICN, motherfucker

>>892236

You're basically starting a position and closing on the same day - either make or lose 10 cents on a 5,000 share position.

I'd start at the 50% chance assumption. Stocks and markets aren't necessarily that random. An underlying bull market and prevailing investor sentiment would make probabilities stochastic and likely introduce autocorrelations. It's way too big of an assumption.

Buying what analysts recommend - I dig the shyg. When your holding period is 1 day, I don't see why this would matter. Many analysts have no skin in the game. Analysts being right 60% of the time is more of a stretch than you can imagine. Even if that 1 day return is based on days of upgrades/downgrades, you run the risk of added volatility based on the news - enough to whipsaw you even if right.

Slippage, market impact costs, commissions, volatility on 5000 share positions will absolutely ruin your strategy. Win/Lose 10 cents per trade - not a chance. Equal payout/loss strategies are always doomed. 10 cents is also way too narrow. Intraday volatility has U-shape distribution - guaranteed buttfucking in the morning.

There's several other holes in the strategy - constant capital employed ($100000, $20 per share, 5000 shares).

Build a solid foundation by learning how stock valuation works. Start with Benjamin Graham. Watch that video on youtube of Bill Ackman: Everything you need to know about investing - Its not all-encompassing but a good start for noobs.

Learn some technical analysis. The bible on Technical Analysis is Technical Analysis of Stock Trends by Edwards and Magee. Try to piece some of the things together by using free charting software like freestockcharts.com.

Read Market Wizards and Reminiscinces of a Stock Operator. Virtually every successful trader I know of has read both of these books.

And most importantly: avoid all the dog shit out there. This game is made up of 2 kinds of people: a quiet minority of successful traders/investors and the pikers. The pikers are in the loud and overwhelming majority. The failures in life. Shitheads who take to Twitter or even places like /biz/ to spit nonsense and claim they are successful buying penny stocks and put options on SPY. The ones who have claimed we are heading for a repeat of 2008 every day since the March 2009 lows, while listening to their god Timothy Sykes and other Twitter Piker Gods looking to connive your hard earned money out of your hands (Cameron Fous, Nathan Michaud, Maribeth Willoughby, TradersUnderground, Inthemoneystocks, etc). Just don't pay attention to this.

Get to a level where you are comfortable trading some of your own money. You will lose very often when you start. The average person is hardwired to fail miserably in trading and investing because of the emotions attached to money. As you log hours, you'll naturally gain more experience and comfort. Once you've made just about every mistake in the book, and survive to talk about it, you'll be successful.

>>586070

Interactive Brokers for security reasons and insured deposit (not a piker). Prop account on the side for better quality data and charts.