should i make a hobby of day-trading, or am i destined to lose money?
If, as you say, you make it a hobby it means you intend to become good at it. I.e. read and learn all you can about it, make contacts, buy good programs. In that case you should make money, because the odds are in your favor. The stock market goes up much more often than it goes down.
You are competing against computers … you think you can do better?
If you aren’t a psychopathic monster when you start day-trading, you will turn into one.
Without insider information, there is just no way you can get an edge to consistenly do better than the dow jones average.
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I’d wait until Bush leaves the office and the Democrats take over.
The war is killing us right now. Once we start pulling out our troops and focus on our economy then we’ll see some changes.
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Unless you are Bill Gates or Warren Buffett, do not make day trading a hobby!
Don’t listen to the first guy. He makes the false assumption that trading the Dow is the only way there is. I make my living as a Forex day trader and hardly ever lose. It is not a hobby however and only treat it as such if you are willing to lose lots of money very quickly.
Also to the first guy, how dare you accuse me of being a psychopathic monster. So far today I’ve only eaten four children!
Okay, who’s the ‘tard that gave me the thumb down? All you are doing is highlighting your own ignorance! Slightly over one hour ago I made the equivalent of an average week’s wage in less than one minute. This is no idle boast, but an absolute fact. Please keep the negative thumbs coming. Without you losers, it would not be possible for me to win so much.
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whats your job
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community guidelines
It can be done, but you have to focus and determination. The way to make money in day trading isn’t by focusing on your "winnings" its by focusing on your "losses". You need the discipline to know when to get out at a loss. People get burned in day trading because they try to recover their losses instead of limiting them.
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If, as you say, you make it a hobby it means you intend to become good at it. I.e. read and learn all you can about it, make contacts, buy good programs. In that case you should make money, because the odds are in your favor. The stock market goes up much more often than it goes down.
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Take a class at tradingacademy.com first, it’s hands on training. They allow you to practice with their money, until you can prove to yourself that you can make consistent profit in class. At that point you can start usinig your money
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To answer your question, I need to ask you:
Are you willing to invest time to learn, research, etc? Do you accept risks? Are you strong in mind?
Through your questions, I can feel that you are not strong in mind enough. Am I right? Practice that first! One way to practice is playing poker. Bluff !! Bluff!! Bluff!!
Well, play for fun not with money ok??? With that way, you also practice your risk-taking skills, too.
Finally, you need to spend time to research companies’ profiles and history. Not just buying low and selling high or the other way to be successful.
Well, Good Luck …my friend!!! hehhee
short answer: not yet!
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me