Questiion about stock day trading?
I started to do Stock Day Trading and Iam doing well, I mainly use my guessing and my common sense.
However, just recently started to follow stock alerts from financial advisors
But people are keep telling me you should stop doing this it is very risky!!
I still don’t see the big risk!What are the risks involved? do yo recommend for me to keep doing it? If yes what precautions I have to follow.
If not, what alternative investing you think about?
Long and detailed and logical advise are most welcome.
thanks
Mostly swing trade myself…but was a big fan of Investors Underground …which has a day-traders chat room….. loaded with some fairly astute traders. Blogs and seminars are still free but there may be a charge for the chat room now….. but even if you just try it for a while, there’s plenty of potential for learning there .!!
Comments
Day trading is a tough game. However, if you’re doing well there is no advice anyone can give you. Why would you seek advice? Guessing and common sense will only take you so far. For long term success you need to learn how to read charts and pick stocks with momentum . Also, stay away from advice on bulletin boards and general internet sites. A lot of scam artists are involved in day trading.
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You point to your guessing but given that guesses won’t likely bring success more than half the time at best, it obviously means you’re using your intellect and not really guessing. Then too, your instincts are also guiding you as you pick your way through myriad paths that make paupers out of day trading princes.
The message here, from me, at least, is to continue doing what you’re doing and as you’re doing. It works and things don’t get better than that in this business or any other, for that matter.
You ask about risk—risk is the threat of failure. So long as you contain your exposure to risks going beyond your recooperative abilities, you should be fine. It’s when we yield to ego issues to prove things that we land in trouble.
Why are you listening to people who tell you you should stop doing this? Why would you listen to people who preach fear? You’re already a successful trader—listen to yourself, your actions, your history and your confidence. I used to hear fears, too. I outperformed the fears—both mine and those of well intentioned others who let fear dominate their lives and well being. I’m free of that nonsense, thankfully.
Stay with your present course—it works for you.
Len
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stock analyst and trader.
By the time you hear about the alerts, the trend is already established and may be expiring. You are always hearing about them LATE. Thus, you’re a trend FOLLOWER, and trend followers gets BURNED on fast-moving trends, such as day-trading. For example, say there’s some news that cause the stock to get a small rise. By the time you heard about it, the stock already plateau’ed. Thus, you bought in on the HIGH, instead of the low. Yikes!
—
Kasey C, PC guru since Apple II days
Artificial Intelligence usually beats real stupidity.
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Let’s see… you are "guessing" (your words) and don’t see the risks. A fool can do well when markets are generally rising. But amateur day traders almost always come to grief.
Start by asking yourself WHY you want to "invest" in stocks.
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Hey, why don’t you try stock robots?
I’m assuming you know what I’m talking about. If not, let me take a second to fill you in.
There’s a site on the internet that claims to have invented a robot that can pick winning stocks. I was skeptical at first but I tried it. And I SWEAR it’s the BEST investment I ever made! I’ve made $47350 so far since I started a few months ago.
The best part was I threw my resignation letter at my boss’s face and showed him the middle finger.
Check it out here: http://whit.me/PennyStockProphet
It really works and guarantee to work. Read this report to learn more:
http://www.pennystockprophetreviews.com/
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Mostly swing trade myself…but was a big fan of Investors Underground …which has a day-traders chat room….. loaded with some fairly astute traders. Blogs and seminars are still free but there may be a charge for the chat room now….. but even if you just try it for a while, there’s plenty of potential for learning there .!!
References :
April 5th, 2010 at 4:59 pm
One reason could be unlike stocks whose value can become zero, alternative investments like trading in commodities ,oil, forex, indices may be less risk in the sense that the prices will never get to zero see most of these products on http://www.hymarkets.com/servlet/track?campaignID=70120000000AS5B&a_aid=3f4683c6
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