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  #1  
Old 05-08-2010, 03:15 AM
nomadicprs nomadicprs is offline
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Default Day Trading and risks?

I'm really new to all of this and like most people who are new I have no idea were to start. A friend of the family runs this a website called "Prometheus Financials" . I cant tell if its a good idea or just another idiot who thinks he can predict the market. What do you guys think? I'm not desperate or anything but I wouldn't mind having a litte advice on what to do with this stock market thing.
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  #2  
Old 09-30-2010, 08:36 AM
Alton Dawsey Alton Dawsey is offline
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Default Re: Day Trading and risks?

nomaicprs,

Is day trading risky? Yes; however, so is anything you do in life. It has risk.

What bothers is that you sound like you're ready to jump into it to quick because of a recommendation from someone you know.

I suggest taking your time and learning about stock investing in general before you start day trading. You are trying to run before you can walk.

Day trading is a specific method of investing. First, learn about investing in general and then narrow your focus.

I will say that I'm not a fan of day trading. I prefer to be a long term (a year or longer) type of investor. However, that's just me. What doesn't work for me may not work for you. Just take the time to educate yourself before you jumping head first into the game (an expensive game might I add).

Good luck.
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  #3  
Old 10-06-2010, 06:22 AM
Jehnavi Jehnavi is offline
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Default Re: Day Trading and risks?

If you are looking for a very risky business for their investment dollar, so you may want to investigate the roller coaster that many know that day trading. While those who rely on it for cutting and fortune I swear it's a formula that has been raking in the rocky shores of this business in particular will be the first to say that his luck ran out. If luck or science, the trading day for many turned out to be risky at best.
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Old 11-10-2010, 03:31 AM
UnmaskingFinance UnmaskingFinance is offline
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Default Re: Day Trading and risks?

With HFPT (high frequency program trading) engaged in at the level it is by current investment banks small ops day traders are getting squeezed out. Before it was a bad gig, now the odds are incredibly stacked against you.
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  #5  
Old 11-11-2010, 08:26 AM
thefamilyfinanceguide thefamilyfinanceguide is offline
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Default Re: Day Trading and risks?

Do not Day Trade. Day Traders have crazy cash flow capabilities and the good ones are able to take losses. Go for mutual funds. I have a website I started a month ago. I'm trying to provide simple info for the "Typical You" person. I strongly believe in picking solid mutual funds that stand the test of time. My username is my website. Just don't day trade, I tried it when I first got out of college with a good job, good money. I lost, every time. Before you pump money into investments though, get debt free. Then all those minimum payments can be applied to a ROTH IRA. Always maximize company matching first if you can, even with debt. Its free money!
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  #6  
Old 12-08-2010, 11:37 AM
JanvandeMerwe JanvandeMerwe is offline
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Default Re: Day Trading and risks?

Hi guys,

I don't often sign up to forums, but saw this post and want to ask a question. Is day trading the same as forex trading? Where I am from, we this forex trading is very new to us. I have found a number of sources that discuss forex trading online but without knowing what I am getting into, I am not sure I want to put my money into this kind of investment.

Thanks for all your help.
-Jan
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  #7  
Old 12-09-2010, 07:32 AM
Akash Ghosh Akash Ghosh is offline
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Location: Bhubaneswar -751 007, Odisha, India
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Default Re: Day Trading and risks?

JanvandeMerwe,

Forex Trading is related to Foreign Exchange Trading, which deals with currencies basically.
But Day Trading is a vast concept. Day Trading which people in this post are talking of is regarding Stock Market.
Forex Trade is also done on Day-Day basis!

So what i exactly want to quote is that Intra-day trade is a Day Trade, may it be of currencies, shares or commodities!
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  #8  
Old 01-31-2011, 12:29 PM
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RichS RichS is offline
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Default Re: Day Trading and risks?

Some good info from everybody. First you need to figure out what type of investing you want to do. Day trading is very risky at best and few people make any money. If you are just starting out, which is what it sounds like, than you need to figure out first where your interests in investing are. Do you like stocks? Do you like mutual funds? Do you like real estate? All of the above?
Go to amazon.com and put in the search box financial books and see what comes up. That will give you a starting point to what investing has to offer. Good luck.

RichS CFP(r)
www.insimplelanguage.com
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  #9  
Old 02-07-2011, 11:08 AM
LiveTradingZone LiveTradingZone is offline
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Default Re: Day Trading and risks?

Quote:
Originally Posted by JanvandeMerwe View Post
Hi guys,

I don't often sign up to forums, but saw this post and want to ask a question. Is day trading the same as forex trading? Where I am from, we this forex trading is very new to us. I have found a number of sources that discuss forex trading online but without knowing what I am getting into, I am not sure I want to put my money into this kind of investment.

Thanks for all your help.
-Jan
Day trading just refers to the time period that you trade in. I know many who forex trade on a long term basis. You can trade futures of the forex markets as well, and I personally like that better than Forex trading.
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  #10  
Old 02-21-2011, 06:04 AM
gilbertrobbins gilbertrobbins is offline
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Default Re: Day Trading and risks?

Ya, you people are absolutely right that Day Trading is risky but you can know this art
through consistent learning and watching out the trends in Intra-day trading. Once you are familiar with all these things about stock market then you can even take help of some of the best stock market trading tools available in the market.
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  #11  
Old 02-22-2011, 10:33 PM
emjo emjo is offline
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Default Re: Day Trading and risks?

The vast majority of people who do day trading go broke. I have a friend whose husband used to be a day trader and they are now broke, and possibly about to lose their house.

Live below your means, and invest in good growth stock mutual funds.

Emily
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  #12  
Old 02-23-2011, 05:38 AM
gilbertrobbins gilbertrobbins is offline
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Default Re: Day Trading and risks?

It's true Emily that if you know nothing about Intra-day trading then you may vanish.
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  #13  
Old 02-23-2011, 09:39 AM
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DavidBibby DavidBibby is offline
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Default Re: Day Trading and risks?

Even if you study Day Trading and become very competent at it...it's still risky. Yes...sometimes people who do day trading have a REALLY good day and make a HUGE profit. But if you average it out, the most successful Day Traders are getting about 8% growth on their money over the long term.

It's a lot of work... it's a lot of risk... and over the long term you still won't beat the mutual fund investors who are living their lives and enjoying it while the money grows by itself.

As far as risk goes... Day Trading is more risky than gambling in Las Vegas.
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  #14  
Old 12-14-2019, 02:27 AM
SunnyMay SunnyMay is offline
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Default Re: Day Trading and risks?

Truth be told, trading takes a lot of efforts and knowledge. So, it doesn't suit as an additional source of income. In my opinion, Hyper casino is perfect you already have a job and you want to earn a bit more money. In this case, casinos are perfect.
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  #15  
Old 12-17-2019, 03:53 AM
Valz Miky Valz Miky is offline
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Default Re: Day Trading and risks?

In my view, the risk is there with any and every style, so we just have to ensure we keep good money management to survive. I do just that and find it easier with FreshForex using their 101% Tradable Deposit Bonus, as through it I can really perform well.

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