im simply not grasping this on the paper trading site, ive made 7500 this morning on 10k i was playing with. thats 11,000 dollars in 2 days of playing around with essentially 10,000 up front. There has to be more to this. i see on my schwab account if i make more than 4 same day trades in a week i get flagged as a day trader and need to have 25,000 in my account or i get a margin call. I dont know what that means, im not buying on margin, it would be cash.
assuming that I had actually had 10,000 in my real account, would I really have profited 11,000 in 2 days on 5 trades? (there was some math mistakes made, I made the same size purchase each time, forgetting that the increased price lowered the number of stocks i could get for 10k, but technically the sale would have put enough in to cover the difference) On Sat, Apr 10, 2021 at 4:08 PM Caleb Knauer <[email protected]> wrote: > It works great, right until it doesn't. If it was that easy then we'd > all be wolf of wallstreet. > > On Fri, Apr 9, 2021 at 10:13 PM Steve Jones <[email protected]> > wrote: > > > > So I've been dicking around with the market, trivial amount, 5 shares > per stock. If I had put a lot in Tesco would have done me well. > > > > I have 100 shares of this penny stock, it's a gold backed > cryptocurrency, I watch it bounce a lot throug the day and its followed the > same trend for its couple months existence. > > > > So I set up a paper account and was dicking today with another penny > stock. Set buy and sell limits with about 10,000 in the play money. It made > 4k in 2 rounds. It's just a couple pennies it fluctuates but at 500,000 > shares that adds up. > > > > I told the wife and of course she wants me to cash in something and play > with real money. > > > > I'm more inclined to see how the play money performs, I have some limits > on the crypto stock that we will see what happens on monday morning. > > > > I'm thinking to myself there has to be a catch. If it was that simple, > everybody would be doing it. > > > > You guys who mess around probably went through a time where you tried > that kind of trading, and none of you talk about it now, so I assume the > catch is pretty straight forward. > > > > I was looking at my IRA, it's done pretty good at 17 percent. But just > taking 10k of it and playing with this at 1 percent per trading day, that > would be another 27k annually. > > > > I do see why day traders need low latency though, but with limits I dont > see it has a lot of impact. > > > > What's to stop a guy from spending an hour or 2 every morning with a > relatively small amount in the big scheme of things like 10k trading to 1 > percent or better and then going to work? 100 bucks a day or more doesnt > seem terrible for an hour. > > > > > > -- > > AF mailing list > > [email protected] > > http://af.afmug.com/mailman/listinfo/af_af.afmug.com > > -- > AF mailing list > [email protected] > http://af.afmug.com/mailman/listinfo/af_af.afmug.com >
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