Yesterday i knew absolutely nothing about any of this shit, now I'm aimlessly looking for stuff on youtube to explain as much as possible, not necesarily in order to take part in it, although I'm definitively considering
Yesterday i knew absolutely nothing about any of this shit, now I'm aimlessly looking for stuff on youtube to explain as much as possible, not necesarily in order to take part in it, although I'm definitively considering
People are acting like they've discovered fire and there is going to be the ”next sure thing” that'll redistribute money to average Joe on reddit after this, but is being a retail day trader actually a reliable thing to make money?
One of my friends was really hyped about this shit after college. He read a bunch of books, followed some finance gurus online, set up an account and played with like $3,000 worth of blue chips for year to get experience. Ended up with about the same amount of money despite sinking a lot of time into this and concluded it wasn't worth the hussle.
You don't day trade blue chip unless you're trading margins and obsessively following the news around those companies in an attempt to time the market. It sounds like he made a bunch of conservative moves and mostly made small profits and losses.
Day trading is about losing $15,000 on Monday and making $38,000 on Wednesday and losing $18,000 on Friday and coming out $5,000 ahead for the week. It requires a vast pool of capital to draw from in order to make real money because you will lose and you will lose hard. You just play enough that it trends positive.