I'm decently high IQ (engineer with a lot of math/probability knowledge) and can spend a lot of time outside of work reading and trading demo accounts to learn. I can throw a few thousand in as starting capital without feeling financial pressure or anything, I could even blow up and refund my account again many times.
Someone has to be making a lot of money on crypto, stock options, leveraged forex, etc, right? Why can't it be me?
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It's not foolish but it is naive if you don't think that stock market trading is complicated. You would have better odds by getting skilled at a game like poker.
Trading scales better and doesn't require you to be physically present somewhere
True but it's more of a long term slow building investment, as opposed to a high stakes jackpot like what you're hoping for
Yeah maybe, depends how you trade too
I've had poker on a mental list of things to study for a long time now and never did because I just think it's boring. I think trading card games are potentially a lot more interesting but there's no money in them. I think it has to be some kind of trading/investing for me as a main hobby that's potentially productive/profitable
The only way how to win at stock market reliably is by having access to information before they hit news. Its "illegal" and its called
en.m.wikipedia.org
For example boss of intel sold all his intel shares few days before the company released info about all intel vulnerabilities.
Other example is GTA5. Its excellent game about how foolish it is to do old school crime. There are ~3 missions where you can buy certain stock, do a mission, wait few days and then sell the stock with like 5 times returns.
If you dont have information others dont have, playing stock market is no different from playing roullete.
>ps:
I hope you bought AMD stock and sold intel one. Amd will become the new intel in few years, now its time to buy.
>You would have better odds by getting skilled at a game like poker.
It's very hard to make really good money with poker, it takes a lot of skill and practice.
My boyfriend is really good at it (he lives off it) and he's been playing very consistently (like, 6+ hours a day) for two decades .And some months he's still losing money.
He makes good money but it's not something you can just pick up one day and make millions off it.
>>If you dont have information others dont have, playing stock market is no different from playing roullete.
I disagree, some people are just better at predicting the future for whatever reason, probably a mix of gut feeling and research. I used to read things like "hedge funds don't even outperform the S&P 500" and think beating the market is impossible but a big reason for that is they're too big to get in and out of trades the way a small retail trader can.
A successful daytrader working with 4, 5, maybe 6 or 7 figures to play with can double his account in a year and it wouldn't really be out of the ordinary. It doesn't make him smarter than Wall Street either it's just less challenging to produce high returns with a small account
Yeah I get what he's saying though, poker is a smaller game with fewer people involved so you can expect the effect of education to be greater. If you're playing against casuals using perfect math based strategies you'll definitely make money in the long run
That's what he does and he doesn't always make really good money.
Poker isn't a solved game, there's still a lot of chance involved.
>The only way how to win at stock market reliably is by having access to information before they hit news.
This is wrong. You can win reliably by having deep expertise build up over years/decades.
>A successful daytrader working with 4, 5, maybe 6 or 7 figures to play with can double his account in a year and it wouldn't really be out of the ordinary.
This is correct but doing it reliably year after year takes a lot of knowledge of the market/economics. Don't expect to make money trading technical signals.
Doing it with 4/5 figures is a waste of time. Who gives a shit about making
If you want to discuss further give me some contact address
I want someone to talk markets with
Don't you just invest in stable stocks with a higher rate of returns but not anything that turns into millions in one year. Also invest in bonds and things to "diversify" or whatever? I think that is what my 401k does.
>>Don't expect to make money trading technical signals.
Not even in crypto? I have some BTC left over from after I withdrew my principal (got like a few thousand left) so I watch the market sometimes and I often predict like 2-5% price movements looking at local tops/bottoms and RSI. Of course I'm skeptical of chart patterns and even more wonky stuff (candle patterns, "waves", "clouds"). TA is also popular for Forex but idk if credible people follow it. With stocks I could see TA not working
Jeeze $300K is a lot though idk if I could live with myself if I lost that, that's suifuel territory. In my ideal world I would grind up my BTC stack with frequent small wins and build up that kind of bankroll over several years, never putting my precious wagecuck money at risk. Some people have screenshotted their trade logs going from like a partial bitcoin to over 10 within a year or so and it didn't look fake, maybe they got lucky with high leverage though
Wrong magic the gathering is a money maker
Win cards sell them
You can average $60 a week if you're just starting, $200 when you're good and $2000 when you're lucky or pro
I really have nothing to offer, just starting to get in the game
Doesn't sound very promising desu
I have no idea about the crypto market but I imagine there are some opportunities for individuals as it's still new.
>Jeeze $300K is a lot though idk if I could live with myself if I lost that, that's suifuel territory.
It's like starting up your own business. Better to get experience working in the industry first
There are banks that offer micro lots, you can start there and see how it goes. Demo accounts are not very reliable because they work with demo servers, there is a difference in order execution time, slippage etc. Just don't expect your strategies to perform the same way on bigger trades as they do with micro.
Don't expect easy money though, I once read an article about Ukrainian hackers who manged to get news releases before they were published and even then they couldn't always predict how the market will react to certain news.
> Why can't it be me?
It can be, but not overnight.
I make my living from trading. It took me years to get good.
It's a game like any other.
Don't think you're gonna be playing at a professional level until you've put in your 10,000 hours of practice.
learn to read trends get in get out quickly. trade the spy in the morning 15 minutes after open. watch the 8 day moving average in order to get an idea of where you're at before the market opens. watch the 10-minute moving average to spot trends. learn to cut your losses, and take wins at around 10%.
Get into crypto, not stocks. There's going to be much more growth in just your average alt than some shitty businesses. Get rich with crypto then get a stable income from stocks.
See if you can get a job at Renaissance Technologies. It's an extremely high performing hedge fund that hires the best of the best. The CEO is a white nationalist though so you probably want to be white to give you an edge.
Aren't alts unpredictable unless it's a raging bull market? I think I'll just trade bitcoin both long and short, eventually with margin. Seems like a better long term plan than picking alts and praying
Mercer stepped down because it was creating morale problems for the employees
Not gonna happen, plus you're just making the founders rich in companies like that
ah yeah, I just read that after I posted
>Not gonna happen
>Renaissance's main fund, Medallion, earned 39% per year on average from 1989 to 2006
You'll never get that anywhere else, working for them would make you richer than you could ever make yourself.
I heard that's a relatively small employee fund that distributes all their gains so you'll make good money for sure but it won't compound and make you wealthy
Also you're most likely going to be siloed working on some weird signals that have nothing to do with finance. You're not going to come out of there with the keys to making money or anything. It's a good place but I'll never work there no point of discussing it
How the hell do you prosecute for insider trading unless someone is really stupid? I've known restaurant managers or owners who make most their profit not with the restaurant but by hosting businessmen. They either listen in on conversations or get advice from their patrons and win big with investments or stocks. How the hell do you successfully arrest a restaurant owner?
You dont. Thats why i said "illegal" and i love gta5 about this little thing majority of players will miss completely.
The perfect crime: white collar crime. A crime only on paper with no victims. Almost as good as banks printing money and making inflation for the rest of us.
Most alts in the top 20 will rise and at least have some potential value. The scams and the alts without any real value went down the drain in the crash. Bitcoin is only at top because it was one of the first and pure speculation and not because of real world use.
I wouldn't work there either
It sounds boring living there and I don't like being tied to an organization
I'd rather just make my own business
Predicting the market is half the game. You need to be able to manipulate it as well.
Learn fundamental analysis. You will have greater success, day trading is a meme.
Fundamental analysis works for day trading.