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19036283 No.19036283 [Reply] [Original]

Is day trading just gambling if I'm an amateur? Sick of my 9-5 and would like to try making money from day trading.

I've made 10k on a simulator mostly by luck. Any good sources for a beginner to learn?

>> No.19036302

>>19036283
day trade with 2k
make 2.5% gain every day
cash out $50 every day

>> No.19036330

>>19036302
Nice bro. Could you redirect me to where you learnt this? Is this net gain or after tax. I'm from Belgium and I think we're taxed heavily on trading. Any belg fags out there with advice on fiscality in this domain too?

>> No.19036341

day trading IS gambling

the difference between amateur and experienced trader is knowing when to gamble and how much to risk

>> No.19036350

>>19036302
How much time of work a day is it to net that 2.5%?

>> No.19036377

>>19036283
less than one percent make it. listen to this part real good- LESS than one percent of try day trading even begin educating them selves to the required level. there is more than a masters degree worth of info you need to commit to memory. if your intelligence is not at least at a superior or gifted level you will be depending on luck.

>> No.19036379

>>19036341
If knowing the right times is a factor then by definition it isn't gambling no? There's no such thing as knowing when to play red or black at roulette?

>> No.19036397

>>19036379
poker is gambling but that doesn't mean it's always 50/50

treating trading as anything other than degenerate gambling is counterproductive

>> No.19036404

>>19036379
It's gambling where the odds are incredibly dynamic

>> No.19036417

>>19036397
Fair enough, I was talking about pure luck based gambling which I wouldn't consider poker being a part of. You can be good at poker, you can't "be good" at roulette.

>> No.19036433

>>19036330
don't pay taxes you moron
if you pay taxes you need to make 5% a day and that is impossible
trade on pajeet exchanges, india singapur whatever
no KYC

>>19036350
one successful trade or many small ones
you need to be smart, putting 24 hours will not make your trades smarter

>> No.19036452

>>19036302
kek if you were able to make 2.5% a day you'd be a billionaire in no time

>> No.19036459

Day trade Forex if you are serious. Crypto is way too scammy with constant chink pump and dump wicks. Forex on the other hand is pure TA and is way more consistent

>> No.19036467

>>19036283
Someone should photoshop this pic so they're looking at themselves on their phones.

>> No.19036476

>>19036452
diminishing returns
the bigger the stack the more problems you get
that is why you cash out daily and trade small stack

>> No.19036495

>>19036459
OP here. The simulator I was using is for Forex which seemed nice to me but then again I don't know shit. I'm trying to learn but I'm kinda afraid what these other anons were saying about the less than 1% long term success rate.

>> No.19036503

>>19036495
forex is a scam

>> No.19036526

>>19036503
What do you use? And where did you learn? Do you have a traditional background in economics or you learnt online? Let me know if you have a kik

>> No.19036616

>>19036526
find pajeet exchange
make trades
read nothing
run on pure instinct
that is how you make it

pro tip, use russian on off ramps for fiat

>> No.19036784
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19036784

>>19036283
>Is day trading just gambling if I'm an amateur? Sick of my 9-5 and would like to try making money from day trading.
No. If you believe, you can. I believe in you.

>> No.19036789

>>19036495

Its not super hard dude, just learn basics of support, resistance, trend identification, how to spot pivots in the price action. Slap on some MA / EMA crosses etc.

The biggest thing to master, and this is why everyone spouts the 99% of NPCs can't day trade meme is risk management. You basically want every single trade that you identify to have a risk : reward ratio of 2 or more. That means if you lose the trade for example you could lose 1% of your capital, but if you win you can gain 2% or more, ideally 3%. Therefore you don't even have to win more than 50% of trades to still add to your capital, because one winning trade negates three losers.

You have to be a fucking autistic turbo robot and if you see a trade which meets your criteria, then take it. This is why alot of faggots here fail at crypto because they are emotionally invested in their chosen shitcoin and support it like a sports team (see LINK for example). The vast majority of NPC tier normies simply do not have the mental capacity of viewing scenarios in pure statistical probabilities as opposed to emotionally therefore call trading a scam. It is not scam though, I made $50k cashed out from pure trading between October and November.

>> No.19036813

>>19036789

*Between October and February, my mistake

>> No.19036829

>>19036283
https://m.youtube.com/watch?v=jcy8QaILDJI

>> No.19036916

there's too much hopium in this thread

trading is fucking brutal it's basically a virtual colloseum where everyone tries their hardest to take each others money

doesn't matter how far ahead you are it just takes one moment of weakness to snowball your tilt and lose everything

the despair can be very suffocating sometimes

>> No.19036994

>>19036789
how do you calculate risk reward for a trade?

>> No.19037902

>>19036916

>lose everything
>what is risk management
Fucking hell dude even if you have a basic static stop on each trade you aren't going to lose everything

>>19036994
Depends on how you set trades up. Some people just have a strict % they are willing to risk, which means the variable in the scenario will be your position size.

Position size = Capital * Risk / (Distance to stop loss as a percentage)

Assuming you use your full account on each trade. Otherwise you can just use fixed percentages as stops. It is all dynamic and depends on how the chart looks, personally I sometimes set static stops, sometimes if it is volatile I don't and use mental stops. Ideally you don't want to risk much more than 2% on a trade unless it is a long term macro position you are building, but that isn't day trading.

>> No.19037942

>>19036283
> Sick of my 9-5 and would like to try losing money from day trading.
fixed

>> No.19038056

>>19036283
Buy high and sell low !

>> No.19038123

>>19036283
It's gamblin even if you're a veteran. The ones who make big money are brokers.

>> No.19038202

>>19036283
OP I can introduce you to a legit (free) group on TG. Leave your id if you want and see it for yourself

>> No.19038236

>>19037902
But how do you calculate your potential reward ratio? I'm a brainlet so I dont know howto word it, but if I enter a trade and just set a stop loss 2% below my entry point, I get that. But is there another way to calculate it? For example do you just use previous support/resistance levels to calculate the potential % gain from your entry point following a breakthrough, or do you use more TA based indicators such as using the pole of a bull flag to estimate the potential gains if it breaks to the upside? Another question, if you use 2% as a stop loss how do you deal with wicks constantly stopping you out from trades that end up going the way you predicted once you are stopped out? I cant count how many times this has happened since I started using stops to reduce my potential losses. Do you just not take a trade unless it is on a clear, massive breakout? Thank you anon hope my questions makes sense.

>> No.19038464

>>19036452
No you wouldn't. You would run into liquidity and slippage issues at the $1M mark. Probably sooner

>> No.19038577

>>19036283
I am pretty new to stocks and I quickly learned that day trading is the most idiotic shit anyone can do unless you have a serious pulse on the market, you got to buy low and hold a stock for at least 3 days to a week for it to mature and yelled its full potential on its cycle, you're pretty much losing profits on possible hikes or fuding at the bottom, stick with swing trading and hold the red ones until they turn green

>> No.19038640

>>19036283
>just gambling
it IS gambling
>good sources
live trading. you will not learn to daytrade until you lose BIG and REAL money.

>> No.19038788

>>19038640
Losing big amounts of money of trading seems to change the mindset and ego a lot.
Is there another way to reach this state ?
It could be quite useful in therapy and to wake up people from their NPC state.

>> No.19038826
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19038826

>>19036283
Y E S

day trading is literally just a complete gamble. Even if you do learn market predictions and ThinkorSwim, you are better at using those skills to swing trade. Day Trading is just too volatile to be able to accurately predict even for professionals. Do not listen to any other idiot in this thread. You WILL lose money

If you need evidence, go ahead and daytrade with some paper money. I promise for every stock you come out on top of, there will be two where you loose.

Again, use the same skills to swing trade over the course of a week to a month. Its much easier and actually profitable

>> No.19038918

>>19038788
>another way
sadly no. HOWEVER, trading an algo does help though the only market that really is good for that is fx imho.

>> No.19040021

>>19036452
He did not talk about compounding

>> No.19040151

Honestly I think day trading is the best strategy nowadays. I think this market could really tank one day so I’m not in it long term. I just invest on the days with big pumps and dips. Follow the momentum and its easy to make some money. I mainly just use TQQQ or SQQQ. You have to be disciplined though and sell even when you’re down.

>> No.19040198

>>19036283
>Is day trading just gambling if I'm an amateur
day trading is just gambling period

>> No.19040235

Help an anon here , how do you guys set your take profit mark? , at the moment i'm trying to go for a Support Resistance area mixed with the volatility of the past 5 days (5 period ATR on the daily timeframe) to take in consideration the possible range of movement

>> No.19040723

there should be some kind of trading general where the guys who know their shit teach us scrubs what to do/where to learn it

>> No.19040801

>>19036302
>he made $50 a day on the stock market with this one weird trick

>> No.19041201

>>19036283
Day trading is a shocking waste of time, money, and energy. You have no edge on American markets. They're not just rigged against you, they're rigged through multiple layers against you. This includes microstructure and execution delays, data delays, broker/MM/clearing house conflicts of interest against clients, commission rates, all the way up to the tax structure of the U.S. itself. If you're day trading exclusively, you are going to watch your equity curve drain down in a way that is almost profound. Anyone who claims otherwise, post your track record from the past 6 to 12 months.

You have a better shot of getting into West Point and making it all the way through than you do of becoming a successful day trader. You have a better shot of beating Stage IV lung cancer. You have a better shot at becoming a neurosurgeon as long as you get accepted into medical school. Speaking of medical school, Harvard Medical School has an acceptance rate of 3.7%, the statistic you hear often about Day Traders is that only 5% of them ever make it, so why not shoot for the stars and push yourself a little further and try to go to Harvard Med? And this shit just goes on and on.

Now, again...Let me just state this is purely applicable to day trading American markets. American markets are trash from bottom to top. American markets are representative of the American economy in general. It's totally geared to the people already at the top and you aren't invited. The dotcom boom was where it all changed when a bunch of people day traded, quit their jobs and became multi-millionaires off script. You absolutely can make money day trading foreign markets or swing trading U.S. markets, but since the dotcom era, structural changes have been put in place to make it impossible to day trade U.S. markets.