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Topic: Day trading (Read 4224 times)
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Groove
Guest
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If I remember right, a few of the posters here (at WT really, but maybe they made the leap) get by as day traders. Can anyone recommend a good book or two to read on the topic or perhaps a website so that I can see what it's all about? Hopefully something that covers a broad range of topics such as costs, earnings potential, strategies, etc.
- Jim
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Dark Vengeance
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1) Buy Low
2) Sell High
3) Profit!!!
Rinse and repeat. In the event that step 2 is impossible, acquire a semi-automatic weapon and go on a killing spree.
You're earning your living based on the small changes that take place in a stock's value during the course of a single day....in some cases, holding a stock for under an hour. Kind of limits your options as far as strategy goes.
I'm more of a long-term investor, so for me it's all about diversification and watching the quarterly and annual reports. I primarily look at fundamentals, and base my investment decisions accordingly.
Day trading is a "sexy" notion....kind of like a get-rich-quick sort of thing. But the swings can be similar to those experienced in gambling, and the stress can be tremendous. Everyone likes the idea of trading at their PC and making a comfortable living at it, but it's a whole different ball of wax when your money is on the line.
Bring the noise.
Cheers...............
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HaemishM
Staff Emeritus
Posts: 42666
the Confederate flag underneath the stone in my class ring
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It might actually be easier and less stressful to make a comfortable living selling farmed plat from EQ.
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Aslan
Terracotta Army
Posts: 154
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I find running a stable of hoes to be fun and rewarding.
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WayAbvPar
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I find running a stable of hoes to be fun and rewarding. Any tips for Saturday for me? Oh...hoes. Thought you said horses. I need a hot tip for the Derby. |
When speaking of the MMOG industry, the glass may be half full, but it's full of urine. HaemishM
Always wear clean underwear because you never know when a Tory Government is going to fuck you.- Ironwood
Libertarians make fun of everyone because they can't see beyond the event horizons of their own assholes Surlyboi
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Shavnir
Terracotta Army
Posts: 330
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Step 1 : Get Insider info
Step 2 : Don't get caught
Step 3 : Profit
As above, the trick is in step 2.
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cevik
I'm Special
Posts: 1690
I've always wondered about the All Black People Eat Watermelons
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Step 1 : Get Insider info
Step 2 : Don't get caught
Step 3 : Profit
As above, the trick is in step 2. Minus step two, that is the exact same advice that Martha Stewart gave me.. |
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Shavnir
Terracotta Army
Posts: 330
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Step 1 : Get Insider info
Step 2 : Don't get caught
Step 3 : Profit
As above, the trick is in step 2. Minus step two, that is the exact same advice that Martha Stewart gave me.. Are you sure it wasn't about putting crack in the turkey to counteract the tryptophan? |
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daveNYC
Terracotta Army
Posts: 722
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If I remember right, a few of the posters here (at WT really, but maybe they made the leap) get by as day traders. Can anyone recommend a good book or two to read on the topic or perhaps a website so that I can see what it's all about? Hopefully something that covers a broad range of topics such as costs, earnings potential, strategies, etc.
- Jim I'd suggest reading a good book on technical analysis, and go with that. I'm not sure that day trading is a good way to try and make a living though. |
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