Day trading apps reddit

day trading apps day trading apps

To what degree are they a success? FI/ER?

I am curious because the majority of my clients that actively exchange, are complete morons who rack up commissions and would be better off conserving long.

One time I traded for a pair months and most effective misplaced $three hundred. I'd say that's pretty a hit.

Did you analyze alot?

EDIT – I published my tale here.

I worked at a day trading keep for three years 2006-2009 instantly out of college. I discovered that the choices u.s.a.and downs of the process aren’t proper for my intellectual nation and in the end left to work as investment method analyst at a fund of funds hedge fund. However, in the course of those three years I had a span of three-4 months where I made near a half 1,000,000 dollars. Then there had been months I made a regular profits, five-15k in step with month. The hassle is I got used to that life style and once I had a span of a few terrible months and made not anything, I turned into borderline suicidal. Really didn't work with my mind chemistry, so I stopped.

The guy that skilled me was an animal. He definitely only traded 4 shares (the maximum active at the choices time had been RIMM, BIDU, AAPL, GOOG), and he did it like Tank within the Matrix, he looked at the choices stage 2 rates and traded entirely off of those and “sense” of momentum. He didn't have down months, ever. He barely had down days. He might make five-10k in an afternoon, then go to the gymnasium, riding range, bar, and so on. He made 50-150k a month, each month, for the choices three years I was there. It become through a long way the choices most steady trading method I had ever seen, but the fact that he did it totally on feel, made it very difficult to emulate. He changed into buying and selling with approx 5 million bucks of the choices company's cash and I by no means noticed him have a day down more than 2-3k. He mainly traded Google, and didn't care approximately the information, the marketplace, or whatever other than the ones stage 2 charges. He barely even checked out charts, the handiest time he did was to get an concept of what the choices stages for the day and for the choices week were to peer where there would be extra shoppers and dealers.

There were additionally others. There was a man that surrounded himself with like 10 video display units traded on three video display units and performed poker on five video display units all while looking a film or playing some sport on his principal display. I dunno his method due to the fact he didn't take a seat next to me and didn't communicate a great deal, however I know he remodeled 2mil in the course of the first few months of 2008. He turned into the epitome of staying power, and literally NEVER had a role on once I walked via his desk. He just sat there watching his films and folding poker arms. However, I bet whilst he saw the choices right bet (in both poker or the marketplace) he quite plenty went all in.

There become additionally a man that traded handiest apple stock… All day. He could rack up 100k shares an afternoon in and out of just apple. I believe he traded it towards the QQQ at the time. He basically took the location that Apple leads the Nasdaq and traded the 2 off of every other all day. He became the choices maximum volatile dealer I've ever seen he'd make 300k in an afternoon, then lose 150k in a day, then repeat. I in no way understood how he slept at night time. But, he became consistently a pinnacle 10 man at the company, making more than one tens of millions a yr. There were many others, simply not as exciting as the above three.

Overall it was a notable experience. I definitely learned and understood how and why the marketplace does what it does. It taught me that day buying and selling isn’t always for me, however I got some long run strategies out of it that I nevertheless use nowadays. Just on a far smaller scale and NOT as my sole source of profits.

MORE STORIES: (I began writing plenty, then Chrome crashed. This is what I stored from the screengrab. I'll be lower back with more in a bit.

Other Chars: There have been lots of exciting human beings that labored there. Many human beings have been loners, now not certain if that's due to the fact they had been introverted, as it takes a certain kind of character to be a good trader, or due to the fact no person definitely desired every body else to recognise their strategy. Probably a combination of they all.

There changed into a guy that become very mysterious. He got here in and talked about his splendid secret approach, said he could take 2 new hires, and made us take a test to determine who he was going to take. Very open ended and difficult to understand. (It became a random inventory chart with peaks and troughs in a channel that ultimately went up. He simply said, write down what you suspect of this. To nowadays I don’t forget it vividly, and each person form of being like W T F must I write, I just need to be picked to be in his fund.) The tale become that within the 2005 he made 10 mil, then in 2006, he took 5 mil of his own money and 20 mil of the choices agency's money and made a “fund.” He already had one man, and became hiring more to research his strategy. I didn't get picked. The youngsters that were picked were rarely if ever visible, and that they never mentioned what he did. I nevertheless by no means determined out, I heard he were given massive and simply trades his personal money now.

The overall atmosphere there has been thrilling, there have been plenty of clashing personalities. Not as lots debauchery as human beings might assume. There were actually no women. My 12 months had one woman. She lasted exactly the choices one year then left. The usual mentality become that girls are too emotional to exchange. In my revel in, there's guys which are WAY too emotional to change. People kept to themselves, however there have been little cliques. Interestingly people accumulated based totally on the choices strategies they traded. There have been the Level 2 investors. There have been chart guys. There had been “sitch” guys, who traded situations wherein a inventory shot up for some unknown cause. There were longer term investors who were in a different room altogether.

There turned into a guy who made a crew of those “sitch” (situational) investors. They had like 10000000 exceptional indicators for if shares went up/down a massive % in a quick time period, or spiked in volatility, or had too many stocks trade in a brief time frame. Then they'd have guys in the news to parent out if there's something going on. If they didn't discover a few news they would take the alternative aspect of the exchange and wait to peer if the trades either get broken up by means of the choices marketplace for being erroneous, or in the event that they stood. Most of the choices time the choices trades were given damaged up and nobody become harmed. What occasionally occurs is people make a few dumb mistake, mistype a ticker, suppose the name of a similar company is related to one this is inside the news. They could load up on the incorrect stock looking to beat the choices rest of the choices marketplace, and we'd brief against it. Over the choices direction of the choices following few days the choices stocks would go back to ordinary, and that they'd make the distinction, on a HUGE quantity of shares. Some guys made a yr on a trade like this on my own.

Friends simply came over. I can cross on for days. Will be again tonight.

Got any greater testimonies about the techniques and characters worried? I'd even want to listen the less interesting ones you noted.

Interesting that you point out the choices trader that traded off “sense”. Oddly enough I assume in a global with so many technical signs that the choices satisfactory one can be ourselves. If you're intuitive and are right at selecting up styles, how may want to you stare at the same agencies chart for years and now not get a sense for where shit's going? Watch the choices tape, watch the order e-book, watch the trades… when you see some thing you've seen before you leap on it. The trick is convincing your emotional thoughts that “you're visible this, you realize where it's going, now pull the trigger on nothing but your intuition”.

It's honestly how I alternate bitcoin now. There's no longer definitely a great deal inside the manner of fundamentals to trade off with bitcoin so it's either TA or experience, and TA fails 50% of the choices time. Once I'd been observing bitcoin charts every day for three years, I sort of commenced seeing things and just mechanically being “oh, we're going here next” and being right loads of the choices time. If you may get it to simply click on like that and find out how one particular market works, there's a shit ton of money to be made. Same factor along with your boss and Aapl. Why exchange 50 shares he knows not anything about whilst there's the only stock he's a fucking grasp of? Maybe people try to trade too many organizations or industries and have to attention on smaller subsets?

Just curious, how do those employees, and the corporation for which they work, split earnings? Do the choices employees simply get a reduce of profit? Do they have liability for losses?

There changed into a man that surrounded himself with like 10 monitors traded on 3 video display units and performed poker on 5 monitors all at the same time as looking a movie or playing a few sport on his principal screen.

I had an acquaintance like this years in the past. He ended up it losing all of it on poker. Last I heard he stole cash from clients and needed to go to prison for awhile.

man i would give a lot to find a person like that to educate me

Can you explain what’s a day buying and selling save for a person who doesn't work in making an investment or finance? Is it like a smaller organization than Charles Schaub in which there are alternatives traders that change patron's money and get a “rip” or commission? When you're announcing they made $x, you suggest for the day for their clients or was this occupied with themselves?I usually concept the choices stock market and day trading and foreign exchange to be general nonsense. At least human beings I knew that did that stuff. My roommate could get these bizarre “mentorships” from some old dude and might do these commodity buying and selling technical evaluation however it by no means made a great deal feel to me that you may make any money off of it. He by no means did so I figured it's bullshit. Only the logic there was, if it labored, why doesn't everybody do it?

I am guessing those men additionally confused air with Cocaine right.

This is so charming. Please experience loose to put in writing greater!

Can a person please assist a noob recognize how you may simply trade 1 stock an afternoon and make a lot cash?

How does a person start running at a day trading store? How did you locate it/get uncovered to 1? Seems like a totally specific revel in