Is Anyone A Daytrader?

LiquidSound
LiquidSound Posts: 1,261
edited April 2024 in Clubhouse Archives
Stocks or Options. Is this your job, or just supplemental income?
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Post edited by RyanC_Masimo on
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  • thehaens@cox.net
    thehaens@cox.net Posts: 1,012
    edited August 2005
    I used to in the late 90's when I was working nights, but that all fell out of favor during the Tech Crash. Now just keep a running portfolio of 5 individual stocks (about 10% of our portfolio) and the rest in mutual funds. So far my solid perfoming individual stocks have been MTSC, WFR, and RAVN. All of which are up 103%, 66% and 12% respectively since I bought them in Dec. of 03' These are the only three that I hold on to. I am about to drop CSC and JDSU if they don't start moving.
    scott
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  • jdhdiggs
    jdhdiggs Posts: 4,305
    edited August 2005
    Nope, not since I graduated. Did the math and figured out that the amount I gained (in returns) was less than just picking some good stocks and not messing with it and using my time elsewhere ie:work
    There is no genuine justice in any scheme of feeding and coddling the loafer whose only ponderable energies are devoted wholly to reproduction. Nine-tenths of the rights he bellows for are really privileges and he does nothing to deserve them. We not only acquired a vast population of morons, we have inculcated all morons, old or young, with the doctrine that the decent and industrious people of the country are bound to support them for all time.-Menkin
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  • thehaens@cox.net
    thehaens@cox.net Posts: 1,012
    edited August 2005
    jdhdiggs wrote:
    Nope, not since I graduated. Did the math and figured out that the amount I gained (in returns) was less than just picking some good stocks and not messing with it and using my time elsewhere ie:work

    Good points, as well, I was getting smoked on the capital gains tax at the end of the year.
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  • jdhdiggs
    jdhdiggs Posts: 4,305
    edited August 2005
    Most day traderes forget about capital gains, commisions, and that for every skyrocket, there are about 10 that don't move and another 5 or 6 that go the wrong way.

    If you can't do it full-time, you shouldn't do it at all

    That, and the current market ticks me off. Reminds me of '99. Everyone pooring into stocks with little book value with negative earnigs and making the thing skyrocket artificially. Can't wait for this "Bubble" to pop.
    There is no genuine justice in any scheme of feeding and coddling the loafer whose only ponderable energies are devoted wholly to reproduction. Nine-tenths of the rights he bellows for are really privileges and he does nothing to deserve them. We not only acquired a vast population of morons, we have inculcated all morons, old or young, with the doctrine that the decent and industrious people of the country are bound to support them for all time.-Menkin
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  • LiquidSound
    LiquidSound Posts: 1,261
    edited August 2005
    I only trade options. Stocks are too expensive.
    After losing a substantial amount in google, I needed a different approach. Now I only trade the QQQQ's. It's an index of the Nasdaq 100, and the options are very price friendly. The strikes are in 1 dollar incriments, so the bid and ask is only a nickel apart. It's pretty sweet, you can get a delta of .70 or higher on an option that's only like $1.30. 100 contracts will run you about 13,000 bucks. Let it move a dime, that's a thousand bucks. Get in, get out, walk away. 2 dimes and that's 2 grand. Do that daily and it adds up.
    Two Channel Main
    Receiver - VSX-54TX
    Mains - Csi40's
    Sub - Spiked Velodyne Cht-8 On Spiked Landscaping Stones

    "If you could put speakers in a needle, I'd never see him again..." - My Girlfriend
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  • LiquidSound
    LiquidSound Posts: 1,261
    edited August 2005
    Bubbles, shmubbles..I don't care which way it goes, as long as it goes. I make money in both directions.
    Two Channel Main
    Receiver - VSX-54TX
    Mains - Csi40's
    Sub - Spiked Velodyne Cht-8 On Spiked Landscaping Stones

    "If you could put speakers in a needle, I'd never see him again..." - My Girlfriend
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  • AsSiMiLaTeD
    AsSiMiLaTeD Posts: 11,728
    edited August 2005
    I'm a Daywalker...
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  • Polkersince85
    Polkersince85 Posts: 2,883
    edited August 2005
    Get a textbook printed in the 60's that teach how to watch the fundamentals and conservative investment. A PE of 8-12 was considered risky back then. You really have to be careful nowdays. Today's Tip ( buy low & sell high)
    >
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    >This message has been scanned by the NSA and found to be free of harmful intent.<
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  • PolkThug
    PolkThug Posts: 7,532
    edited August 2005
    Now that I'm an insider I can't trade unless I fill out triplicate forms, get permission, blah blah blah. :-(

    But I used to cherry pick. I'd stay up late and wait for some company news then put an order in, then sell at lunch.
    Never Forget
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  • disneyjoe7
    disneyjoe7 Posts: 11,435
    edited August 2005
    I'm a Daydreamer ;)

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