Day trading is an area of stock investing that I've been a little bit fascinated with because of the possibility to make a great deal of money in a short amount of time...That is, if you start off with a boat-load of money.
I knew a woman who participated in day trading and she told me that yes, there were days that she made tens of thousands of dollars, however, there were days that she lost thousands of dollars.
In this video we get a stock tip that making alot of money through day trading is not possible...What do you think?
A few years ago "Trader Mike" shared his thoughts on day trading where he outlined his personal strategy and offered resources that helped him transition into day trading. Another blog I came across that contains some useful tips on day trading is Traderfeed.
My personal take on day trading is that in essence, it's like gambling. Sure, there is sophisticated software available to help you out, but the bottom line is that there are still no guarantees. Granted, there aren't any guarantees in any type of investment. However, day trading for me just seems very stressful. Not to mention the possibility of becoming addicted to it - as Peter Millman discusses in this video...
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Daytrading...If you look at every move of a market, day-trading is like trying to connect every single ladder and arrange them all end-to-end. Problem is that the market just isn't predictable at the fine scale except for pure technical moves. But pure technical moves on the fine scale are very weak and easily overpowered by a big news day. A market move can completely destroy your trading plan.
I have never day-traded except for option expirations, and even those are tricky. I do like watching intraday charts though. Really gives a sense of the day-to-day mechanics taking shape from little tiny movements accumulating through individual orders slapping each other around.
Knappador,
I don't seem to understand why traders use sophisticated software that supposedly tell them how a stock may look in the future - any type of news can change that in an instant. I'm sure there are many other factors involved, but it seems to me that the news plays a big role in the stock market fluctuation.
are there any garauntees in life though? everything is a choice and/or gamble how ever you look at it,