Thread: Day Trading...I have no clue what I'm doing, but made $1400 today.

Originally Posted by Stance

I hope you have about 2.1m in capital. You should never risk more than 3% on any one trade. IF you did, then I would suggest stopping right now before you lose all of that... But then again, if you have 2.1m in money to play with during lunch I'm barking up the wrong tree.

2.1 cash on hand, or assets?

On hand in your trading account. 63,000 is 3% of 2.1m..and acceptable loss. 3% tends to be the industry-wide agreed upon risk tolerance.

Originally Posted by Stance

On hand in your trading account. 63,000 is 3% of 2.1m..and acceptable loss. 3% tends to be the industry-wide agreed upon risk tolerance.

Ahhh, gotcha. Definitely don't have that much cash on hand. I pulled out already. It was fun while it lasted. I got lucky and picked a stock that chose to rally to its highest point in 3 years.

You got quite lucky. Could have lost $1400 that day.

I put $60k in a handful of strong companies and am up about 8% in 3 months..

Originally Posted by VII

You got quite lucky. Could have lost $1400 that day.

I put $60k in a handful of strong companies and am up about 8% in 3 months..

I recently invested 1600 in stocks and made a 10% return in less then a month. They were diversified investments. I ended up loosing out on the fees, but I was proud to say that my portfolio did well.

Originally Posted by VII

You got quite lucky. Could have lost $1400 that day.

I put $60k in a handful of strong companies and am up about 8% in 3 months..

100% right! I pulled out and walked with $2100+ profit, not bad for a day and a half.

I was going to dump $70k into Bank Of America this morning, but decided my luck probably ran out, and I didn't. I would have made like $6k if I pulled the trigger. FML

Hah thats some awesome beginners luck, good for you. But a lot of money to play with damn. Its crazy to think that some people dont make that in a year.

OP, whats the point in opening a trading account to make just 1 or 2 trades and "never" do it again?.

Originally Posted by Stance

OP, whats the point in opening a trading account to make just 1 or 2 trades and "never" do it again?.

Opening my sharebuilder account was free. It connects directly to my ING account, so if I want to make a trade, I can instantly transfer funds into the Sharebuilder account, and not have to wait for any clearance. I've made trades in the past. I usually play around with the market whenever I get bored. As my girlfriend says "You always do something like this every few months." If it's free to open and keep it open, it becomes more of a 'why not' issue.

The stock market is like Vegas.....gotta bet big to win big. Nice win for the day.