It is also pretty easy to look like a genius when markets are going up an idiot on the way down. Markets have been going up and up and up for a long long time now. At some point that party will end.
On Mon, Apr 12, 2021 at 11:44 AM Carl Peterson <[email protected]> wrote: > What is often missing from play accounts is often liquidity. They > generally assume you can make any trade at wherever the current "price" > is. If you are trading VWAPY that might generally be true. Perhaps not > for VWAGY. Often not when trending $rando penny stock. > > On Mon, Apr 12, 2021 at 11:12 AM Steve Jones <[email protected]> > wrote: > >> 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 >>> >> -- >> AF mailing list >> [email protected] >> http://af.afmug.com/mailman/listinfo/af_af.afmug.com >> > > >
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