Anyone Ever Tried Day Trading on the Internet?

I knew a guy who tried it for six months or so back around 2000. He said he lost about as much as he made.

I've been looking into some way to make some extra cash. Even clearing 100-150 a week would be a pretty big deal for me. I've wondered how much you need to get started .

You need to be extremely well versed and well read on the markets and thereafter keep up with it daily. Once you have all that you also have to have the instinct.

Even if you do the former you clearly don't have the latter.

It sounds like a great way to get into a lot of debt. If you don't know what you're doing, you might as well be playing slot machines.

Can't you just give four to six blowjobs behind your local 7-11?

Sounds like a perfect fit for you. I recommend investing everything you can. Sell your family's possessions if you have to.

A conveyor company I worked with had a guy who retired and went into day trading. Six months later he was back at work, having lost all his savings to better day traders.

No way in hell I'd try that. Hell, the stock market is risky enough as is, even for buy & hold investors. Day traders need to be incredibly well-read on any business they're considering dealing in, as well as being incredibly well-connected to market-movers and those "in the know". Hell, Wall Street rumor-mongering along has been known to bankrupt a few people.

Do you have that kind of knowledge and those kinds of connections Dayton?

This.

On that note does Arkansas have any slot machines?

Was @Volpone not experimenting with this for a while? Could be wrong. He might be the person to ask for advice.

My thoughts are given you have no idea what you are doing and you have a perilous financial situation then dont touch it with a barge poll.

Don't know. We have a state lottery and betting at the horse track in Hot Springs. And I'm pretty sure there is the dog track at West Memphis.

The only time I played slot machines was at a Casino in Tunica. The new head football coach at Hermitage dragged we three assistant coaches along with him when he was first hired on the pretext (school paid for it) of going to a coaching conference.

I didn't enjoy it at all but I thought it was foolish to go to a casino and not actually gamble anything. I lost $1.25 in a slot machine, got disgruntled and called it a day. Went back to reading my book on U.S. foreign policy that I had brought along.

A lady in the elevator told me she had never seen someone bring a book to a casino.

I took that as a compliment in retrospect.

You should stick to the table games. Better odds. Skill comes into play.

Maybe you're right. One of the other coaches won $3,000 dollars playing at one of them. He paid for our meals though to be honest it seems that food in casinos is pretty cheap.

Agree - if it was easy everyone would be doing it. I know a lot of guys in the military who have invested in the stock market or even "flipped" houses. Everyone had the same lament - "I was doing great until........" and thus their story ends, badly. It's a math thing - not everyone can win. Personally if you could do with an extra 150 a week or so I would suggest a part-time job. It may not be much but you can't lose anything.

Casino buffets are designed to run at a loss. They suckered people in with awesome eats then folks will more often than not hit the slots and/other tables afterwards.

As for the topic, day trading isn't something you do for a quick buck. That's called gambling. I advise you to talk with a financial specialist (one that has money besides how own paycheck) and and get set up with a plan that works best for yourself

Pick up a book on day trading, then invest everything you have. The skills you get from reading the book will certainly make you a stock market millionaire.

I would never invest everything I have. Or even a sizable fraction. I was thinking about say 100 dollars to start.

Serious answer. Have you ever tried signing up to do online surveys?

You get paid for each survey you fill out and it's stupidly easy.

Now keep in mind you have to do A LOT of surveys to really make any significant money from it. But if you do enough of them you'll start getting regular checks from the survey companies.

But you could be doing that instead of spending the time on this message board. Especially if you're gonna be off your feet for a while.

Classmate of mine used to do these online surveys when we had nothing else going on and it gave him some extra spending money.

Worth looking into.

That's not a bad idea. Dayton should be able to find adverts posted on college/university bulletin boards.

As others have said, you should avoid doing this unless you really know what you're doing. You don't know what you're doing, so...

Dude, act pathetic and hit @Goldstein the Space Jew up for some more money. He could use the ego boost, and you know how to make him feel special. You are his special charity case, so milk it. Stick with what you know. You do pathetic awesome, and I say go with your strength. If it doesn't work get a ticket to Florida and start panhandling at the lights. Rumor has it you can make thirty or forty dollars an hour at a good intersection.

Do not give your money to the stock market people. Not that I care you get scammed, but those guys really do not need any more money.

Oh, and if you really want to know how to make money using day trading write a book telling everyone how rich they will get using your system and then spam the poor and elderly to buy it.

I started to try that. But they demanded a lot of personal information up front that made me suspicious.

How much for his eggs?

You hoping to conceive a child with the potential to be the next president?

Most people lose money day trading because each trade generates a taxable gain meaning you end up paying a lot of capital gains taxes.

Your better of doing bonds or a IRMF. Youll never do well against day traders with MBA or econimcs type stuff. So you can do day trading if you know what your doing other was avoid it.

Day trading is basically dead, and has been for a few years now. Essentially what has happened is that the big hedge fund firms have gotten involved in it, and have so gamed the system that ordinary folks don't stand a chance. I think that its the book Flash Boys which explains it, though I could be wrong. Any way, a Canadian stock trader thought that there was something wrong with his system, because it wasn't making trades as fast as it should have, so he started doing some digging, and discovered that a handful of companies had gotten involved, and screwed things up for everybody. Essentially, unless you've got a super computer connected to the internet via a high speed fiber optic connection near one of the major stock exchanges in the US, you've got no hope of making any money. Because the big guys have all got systems tapped in as close as they're legally allowed, and this means that they can buy or sell far, far, faster than anyone even just a couple of miles away from them can do.

Back when he was still hosting the Daily Show, Jon Stewart did an interview with the guy who figured it all out and wrote a book about it. You're better off stuffing the money in your mattress than you are in trying day trading any more.