NationStates Jolt Archive

Are there any daytraders around here? What software do you use? Are you a emotionless, grizzled daytrading warrior or a emotional and panicky trader with an AK-47 ready to rampage your office once your losses start piling up?

This thread is for those of us who are drawn to financial ruin like a moth is drawn to a burning lamp.

A little bit about myself. I am a college student and most days I put up to all $15,000 of my college tuition money on the line on daytrade gambles. Not wise, I know. I only started daytrading a couple months ago using Scottrade and I feel like I'm already developing advanced heart disease from all the stress.

Are there any daytraders around here? What software do you use? Are you a emotionless, grizzled daytrading warrior or a emotional and panicky trader with an AK-47 ready to rampage your office once your losses start piling up?

This thread is for those of us who are drawn to financial ruin like a moth is drawn to a burning lamp.

A little bit about myself. I am a college student and most days I put up to all $15,000 of my college tuition money on the line on daytrade gambles. Not wise, I know. I only started daytrading a couple months ago using Scottrade and I feel like I'm already developing advanced heart disease from all the stress.

A little risk tolerant are we?

Wut? I thought U needed $25,000 min to be a daytrader. SEC limits or someshit.

Are there any daytraders around here? What software do you use? Are you a emotionless, grizzled daytrading warrior or a emotional and panicky trader with an AK-47 ready to rampage your office once your losses start piling up?

This thread is for those of us who are drawn to financial ruin like a moth is drawn to a burning lamp.

A little bit about myself. I am a college student and most days I put up to all $15,000 of my college tuition money on the line on daytrade gambles. Not wise, I know. I only started daytrading a couple months ago using Scottrade and I feel like I'm already developing advanced heart disease from all the stress.

STOP day trading with your tuition money. quickest way to become a walmart employee

STOP day trading with your tuition money. quickest way to become a walmart employee

On the contrary. The market needs all the liquidity it can get right now. Think of this as a sacrifice for the greater good.

Though 90% of daytraders lose all their moneys in the first year.

Wut? I thought U needed $25,000 min to be a daytrader. SEC limits or someshit.

that's a pattern trader. you have to day trade 4 days in a row to get that restriction.

On the contrary. The market needs all the liquidity it can get right now. Think of this as a sacrifice for the greater good.

Though 90% of daytraders lose all their moneys in the first year.

Don't sacrifice your education so the stock market can be .0000001% higher in the long run you will contribut more to soceity and the stock market as an educated professional.

that's a pattern trader. you have to day trade 4 days in a row to get that restriction.

So you are okay if you take friday off?

So you are okay if you take friday off?

pretty much. if you buy and sell stock in the same day 4 days in a row your need 25,000 minimum in a hedge fund. it used to be 25k minimum no matter what to trade but the republicans deregulated it so everyone can buy stock.

Don't sacrifice your education so the stock market can be .0000001% higher in the long run you will contribut more to soceity and the stock market as an educated professional.

Oh, it won't go higher because of it. I'm suggesting he just takes on for the team to make the unwind more orderly.

In any event, this isn't a daytraders market. Too many people blowing up.

Oh, it won't go higher because of it. I'm suggesting he just takes on for the team to make the unwind more orderly.

In any event, this isn't a daytraders market. Too many people blowing up.

is it really liquidity when it just disappears??

pretty much. if you buy and sell stock in the same day 4 days in a row your need 25,000 minimum in a hedge fund. it used to be 25k minimum no matter what to trade but the republicans deregulated it so everyone can buy stock.

Odd lotters. :rolleyes:

I'm pretty sure that you could always buy stock whatever the amount, just brokers didn't want to deal with poor people so they had account limits. Then discount brokers came along...and this rule was part of the aftermath of the tech wreck.

that's a pattern trader. you have to day trade 4 days in a row to get that restriction.

Also more often than not I hold my positions overnight, to avoid that restriction.

Greed and death I have to say your sage advice does strongly compel me to rethink my ways. I will ponder it and reflect upon it.

Liquidity is probably the last thing the market needs right now lol... DJIA's wild intraday swings have caused me at least several heart attacks. What the market needs right now is beyond anything one or even all 6 billion people on earth can give. The global economy is in an epic shitter and is only getting worse. I don't know what you people think of shorters but shorting is all I've been doing lately.

The way I see it, the path to wealth is to dress like a pauper and short stocks of companies that make expensive, overpriced clothing. Overpriced clothing retailers will be among the first industries to die in this economy.

is it really liquidity when it just disappears??

Yes. More people trading = more bids and asks = narrower spreads = less volatility.

Though I don't expect his $15,000 will help very much. Still a little in abundance is a lot.

I have an e-trade account, but I don't monitor it daily. In practice, it's really just a second bank account that fluctuates in value. :p

Liquidity is probably the last thing the market needs right now lol... DJIA's wild intraday swings have caused me at least several heart attacks. What the market needs right now is beyond anything one or even all 6 billion people on earth can give. The global economy is in an epic shitter and is only getting worse. I don't know what you people think of shorters but shorting is all I've been doing lately.

The wild swings are caused by liquidity withdrawal. (Though in this case not in the equities space per se). Still more people participating would mean that it wouldn't swing so much.

The way I see it, the path to wealth is to dress like a pauper and short stocks of companies that make expensive, overpriced clothing. Overpriced clothing retailers will be among the first industries to die in this economy.

You do realize that there is a good chance that a big ass bear market rally is due? Yeah, it could go down another 200 on the S&P, but when there is a snap reversal boy howdy. Unless you can afford to hold shorts for an extended period of time, months, you are going to be up shit creek.

In all seriousness I really wouldn't do this, if I were you. Unless you have the time to follow the market day in day out, you are going to get killed in the whipsaws. After all the point of a bear market is to bankrupt as many people as possible. (Both long and short).

Odd lotters. :rolleyes:

I'm pretty sure that you could always buy stock whatever the amount, just brokers didn't want to deal with poor people so they had account limits. Then discount brokers came along...and this rule was part of the aftermath of the tech wreck.

a broker would always do it. since he would be the holder of the hedge fund for all his transactions. and that's part of what his fees would go to maintain. its when you directly traded you needed 25,000 before. though that rule predated the internet and was largely in place to keep the NYSE floor clear of random people trying to buy whatever in stock.

The wild swings are caused by liquidity withdrawal. (Though in this case not in the equities space per se). Still more people participating would mean that it wouldn't swing so much.





except he is withdrawing it in a day or two so he is not adding to the liquidity and he is helping the volatility by added and subtracting money. the market needs people in for the long haul which it will get once it hits the perceived bottom.

The wild swings are caused by liquidity withdrawal. (Though in this case not in the equities space per se). Still more people participating would mean that it wouldn't swing so much.



You do realize that there is a good chance that a big ass bear market rally is due? Yeah, it could go down another 200 on the S&P, but when there is a snap reversal boy howdy. Unless you can afford to hold shorts for an extended period of time, months, you are going to be up shit creek.

In all seriousness I really wouldn't do this, if I were you. Unless you have the time to follow the market day in day out, you are going to get killed in the whipsaws. After all the point of a bear market is to bankrupt as many people as possible. (Both long and short).

Good points. Very scary, and I'm a natural paranoid so that sort of advice makes an impression on me. I guess I'll just take profit and buy some spam, bullets, guns, and dried beans and hunker down for the long northern winter. So much for my participation in the NS daytrading thread. :P

a broker would always do it. since he would be the holder of the hedge fund for all his transactions. and that's part of what his fees would go to maintain. its when you directly traded you needed 25,000 before. though that rule predated the internet and was largely in place to keep the NYSE floor clear of random people trying to buy whatever in stock.

Unless you are a member of the exchange you have to go through a member institution to buy or sell stock. A hedge fund is something different.

Good points. Very scary, and I'm a natural paranoid so that sort of advice makes an impression on me. I guess I'll just take profit and buy some spam, bullets, guns, and dried beans and hunker down for the long northern winter. So much for my participation in the NS daytrading thread. :P

Just wait until the 20wk MA crosses the 50wk MA by 1%, that means the bear is over, lever up and go long.

It's a tried and tested method for the lazy. Though it's probably a few years out from here.

Unless you are a member of the exchange you have to go through a member institution to buy or sell stock. A hedge fund is something different.

a hedge fun is for the online programs. A stock broker is not an online program and is a real person you really cant day trade through him. and he is part of the member organization.

Just wait until the 20wk MA crosses the 50wk MA by 1%, that means the bear is over, lever up and go long.

It's a tried and tested method for the lazy. Though it's probably a few years out from here.

Yeah that's way far in the future. The 1929 crash bottomed out a full 3 years later, I don't expect the 2007/8 crash to be anything but a long, grueling, painful slow-motion bear market.

Yeah that's way far in the future. The 1929 crash bottomed out a full 3 years later, I don't expect the 2007/8 crash to be anything but a long, grueling, painful slow-motion bear market.

The 29 bear really didn't end until after the war. 37 saw a 50% decline. Though if you bought in 33 you would have been okay.

Fun fact. 9 of the 10 biggest %up days happened in the 30s. I really don't know why people get so excited when they see 500 pt up day. It's not a sign of a healthy market.

And the hedge fund explosions have been brutal. Take retail. It was levitating because lots of funds were short retail/short financials/short dollar/long commodities. When the commodities complex blew up, it unwound a lot of those pairs, so you saw things like BBY near all time highs.

Then there was the short ban that drove ZION, a bank to its all time high.

It's not a market to trade unless you really, really, really know what you are doing, or you are very lucky. Probably both. The easy days of shorting WM are gone.

a hedge fun is for the online programs. A stock broker is not an online program and is a real person you really cant day trade through him. and he is part of the member organization.

I see what you are saying. I was imprecise in my use of words. When I said stock broker I should have said brokerage house or member institution. (Even then some discount brokers are members themselves, like E-trade.)

Anyway, my point was that you always have to go through an intermediate institution.

I see what you are saying. I was imprecise in my use of words. When I said stock broker I should have said brokerage house or member institution. (Even then some discount brokers are members themselves, like E-trade.)

Anyway, my point was that you always have to go through an intermediate institution.

yes and to go directly through the intermediaries there are requirements. Or were.
the stock brokers would get around them via various means combing several investors buy orders, maintain certain minimal funds themselves ETC.