Day trading with personal finances
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Anonymous
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My sil is moving to Europe (trailing wife following dh in foreign service). She's quitting her job here for obvious reasons. When asked about her employment plans once abroad, she's informed us (confidently) that she is day trading. Fil implied that she is taking an Internet course And the will trade with her own money. They are a relatively young couple (twenty something)
Is this as stupid as it sounds or am I missing something? |
Anonymous
| It is pretty stupid. Some people have a talent, or are extremely lucky. I have a friend who has generated good returns over the last decade, though he does momentum trading rather than day trading per se, but for the vast majority of people it is a terrible idea. |
Anonymous
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Why on earth are you so ready to criticize?
DH and I have done short-term trading on our own, with happy results - it pays our mortgage. Not day-trading. Perhaps SIL is not using the exact term, but it does not mean she is necessarily going to lose all her money! Especially if she is young and has time on her side, it's a good time to experiment if she is curious about trading. Really. Some people are so judgmental. |
Anonymous
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what is "momentum trading"?
How do you learn to do this or what you do 15:26? |
Anonymous
| It's stupid. Most people can't do this and make money. |
Anonymous
| She will learn and pay the expensive lessen. |
Anonymous
| Inside trading is where the real money is. Good luck to her. Hope she sets loss limits. Market seems to be up, so maybe she will think she's a genius (or maybe she's been "day trading" since December, and that's what's given her the confidence.) |
Anonymous
| The real day traders don't use their own money. Had a friend who did it many years ago. Now it's about computers, programing, small margins-large volumes, thousands of trades a second. |
Anonymous
| Sure, just watch a couple videos and learn a system and you will be outfoxing those Wall Street guys in no time! |
Anonymous
| I wouldn't be surprised if those wall street folks have a term for people who gamble with their own money. |
Anonymous
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"I wouldn't be surprised if those wall street folks have a term for people who gamble with their own money."
I think that would be "day trading muppets" |