Day Trading

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Romeo_RX

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As a friend of mine served up lamb shank in his new Le Creuset, I complained to him that I have no money for Baldur’s Gate 3. So he whips out his phone, sits down next to me and shows me something called MetaTrader 4. He does forex trading.

I have so much free time on my hands that being able to get paid for staring at my phone was an exciting idea, but now I’m thinking, would I not learn far more about economics and business if I did day trading stocks instead? Anyone here do day trading who can tell me a what to expect and how to get started? I suppose EasyEquities doesn’t cut it?
 
As a follow up, if you have a ton of free time on your hands, rather spend your effort and energy upskilling yourself so you can get a proper paying and sustainable job.
 
Harmonic said:
As a follow up, if you have a ton of free time on your hands, rather spend your effort and energy upskilling yourself so you can get a proper paying and sustainable job.
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Yeah I’m on that path already, I am a student who until recently had a part-time job. This is just something I am looking into for the next six or so months until I go out looking for full time employment.
 
Nike7 said:
Yeah I’m on that path already, I am a student who until recently had a part-time job. This is just something I am looking into for the next six or so months until I go out looking for full time employment.
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With that in consideration, Easy Equities should be more than worth your time, so far as I can see it doesn't cater for micro traders or that thing where they trade so quickly their cpu-memmory latency comes into play, but to keep you busy and maybe make a bob for a black label or 2 its a good bet
 
ArmatageShanks said:
I yearn for the day people realize hard and I mean fsckn hard work is the only reliable way to get rich

Sure there are some fly by night things like that guy who made the rubber alice band things, but for the most part, you gotta work buddy.
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Day trading is like a business, isn’t it? You do research into which stocks people might want to buy, attempt to buy at a low price and sell at a slightly higher price. The research involved (reading news, SEC filings, economic indicator data etc. ) is hard work but the idea I have is that it’s a skill set I’ll use for the rest of my life.
 
Harmonic said:
Here's all you need to know. 99.9% of day traders get cremated and loose everything
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According to YouTuber Graham Stephan, 80% lose 30% of their money in the first year, or something like that. My perspective is that the 80% don’t follow proper risk mitigation strategies and aren’t psychologically equipped for the task. But I don’t know.
 
Harmonic said:
Here's all you need to know. 99.9% of day traders get cremated and loose everything
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This - I mess around with crypto trading and have for years made loads of good money BUT FX trading in this context is VERY VERY VERY highly leveraged 500/250:1. IT is the highest form of risk trading you get. Money to be made yes but if you complaining about no money for bulders gate dont touch it with a 10 foot pole.

You can mess around with a demo acc and actually select the amount you would trade with dont load 1 million if you only gonna use R1k load 1k as you will soon realise small movements will wipe out accounts that are that small.

Please also stay far away from the scam groups on these things there are so many and "signal" groups.

Wanna see what happens look here.

For3x Breakout Kings (FBK) Legitimacy

I searched the forum & I found nothing solid on these guys. I see posts (below) like this & my inner sceptic is like yeah sure. Mr LibeRebil is keen getting a Porsche or Maserati in no time. Has anyone tried them/used them? Some feedback to add? https://for3x.co.za/ The CEO (Jerome) is...
mybroadband.co.za mybroadband.co.za
 
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