TLDR; I’ve recently picked up an interest in trading securities. I made a few mistakes (mentioned below) so would like to hear advice from successful individuals professionally trading securities for a living / greatly supplement income. Where can I look to learn to be efficacious in trading securities?
FULL POST:
Background / I have a Comp Sci degree and work as an IT project manager. I was looking for ways to invest my savings and picked up great interest in day & swing trading. I read some online how-to’s and watched so called “gurus”. Clearly, most are fake just selling courses, but some genuine individuals and sites provided good beginner insight.
Learning / I have the option to work from home few days of the week or shift hours at the office so I used mornings 9-11am to trade through a virtual account for 2 months between Aug - Oct 2019.I had some impressive gains, +60%, but was aware virtual trades are far from indicating real world successes.
Experience / Lo & behold, I started swing trading with my own $25K since Oct 2019 and have lost $12,600 already. However, I’m now up +$3200 unrealized gains and expect to recoup my losses by Jan-Mar 2020 based on my analysis.
Issue / Picked up a trading book recently that highlighted my issues in lack of knowledge & strategy : did not use trailing stop order, stop Loss, limits with deltas, OCO, FTO, etc. I have a lot to learn so I’m taking a break from trading otherwise to study and gain knowledge to the benefit of my endeavours.
Request / I’d like to hear from Canadian day traders who’ve successfully been able to make a living or generate great additional income. How did you start and where are you now? Where can I learn how to efficiently & effectively trade securities? Thank you in advance.
** — EDIT — **
- I agree with the sentiment of most responses which suggest day trading is not “investing”. I have investments in the traditional sense in real estate (2 pre cons, 1 sold in 2018) and safe blue chip stocks/index funds etc. My endeavours in day trading arose from interest turned possible passion using funds that are within my means of risk. I will cease my day trading activities if it’s trajectory over the next year present as exercises in futility. Just want to hear from anyone who might have been successful with it.
In the stock market if you dont have 25,000 or over you are limited to only 3 trades per week. In forex am I limited to 3 per week as well? Or can I do as many as I can?
The tile sums up the question.
I signed up to Robinhood 2 years ago partly because I wanted more lentils, and half because I submitted to Sun Tzu's logic.
Coming to the end of my funds, I'll be closing the account soon with nothing to show for my investments.
So my question, is Sun Tzu's quote appropriate when deciding to day trade penny stocks?
Are we even truly trading cryptos on Robinhood?
So, I got a pixel 4 xl and am supposed to send my pixel 2 xl back for a trade in. I have a custom rom and twrp on the phone and am supposed to reset the device before I send it back in.
Unfortunately part of the reason I got the new phone is because the USB port on the 2 is wonky... It'll charge only sometimes with some cables and whatever. Long story short, I can't get it to be recognized by my PC, so I can't use fastboot to flash a factory image.
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Is there any way I can flash a factory image without USB/Fastboot?
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Will I get my credit from Google if I send them a rooted phone with a custom rom/recovery?
Thank you
Basic model has 3 free trades a month and I wonder when does it refill, in the begging of the month or exactly 1 month after the trade was completed?
I bought the berserk deluxe 4 and some I am a hero from in stock trade 5 days ago and the status is still untouched. I sent a message to customer service but no response. Just wondering if anyone has got manga from them. Maybe they got stormed with orders for deluxe 4 but damn I really want to read it
Hello,
Whats a good volume where when can expect to get in and out of trades relatively easy. With stock prices 20$ or less?Message #questions❓
Thank you,
My TFSA is currently showing -6840% because tens of thousands of dollars worth of stocks that I purchased before today isn't showing up in my portfolio. It freaked the hell out of me when I opened up the app.
Hi Folks!
Thank you for your warm response to my previous question.
Does anyone here buy/trade stocks in other countries, say USA, UK, Canada etc?
If yes, what broker do you use? And how does the remittance work?
I know that UAE has no repatriation or remittance limit.
Thanks!
What do you think about it? currently I am holding 2k in stocks and pmay options every now and then. been holding the stocks since they crashed to the price of 46, about 5 months ago. I think about holding until there is a deal to the trade war.
Hey guys, I'm a college student at a university and i've been interested in the idea of becoming a day trader in stocks. From my understanding, stock trading takes a lot of time to learn and I need to do lots of research, but I don't know where to start. Any advice? What should I do now to be successful in the future?
Thanks!
I'm a rather passive investor- I rarely check my stock posiitons more than once a month, since the daily rise and fall makes me stressed out!
I've got some stocks that are somewhat volatile (up and down a lot) and I'd like to automatically sell them when they gain 10% without having to monitor them all day. Is that possible?
As title says anyone knows?
