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Thread: Day trading swing trading and passive investing

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    Featured Member LaurenAus's Avatar
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    Default Day trading swing trading and passive investing

    I watch my coworker (we work in an unrelated field) trade options everyday and hes already reaped five thousand dollars in one month. Day trading seems overwhelming but I heard about swing trading which seems a bit more maneagable. Has anyone done this as more of a side thing to make extra money or to supplement income? Is it maneagable for the lay person? Or is it smarter to invest everything in mutual funds etc thanks
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    God/dess KatyBoleyn's Avatar
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    Default Re: Day trading swing trading and passive investing

    Its not easy money and options trading is especially random. One bad call and your $5000 you made today can be gone tomorrow. Hubby went through an entire rollercoaster with his small inheritance in the last 6 months trying to day-trade and swing trade, especially with options. The stress made him lose about 20 lbs I think. He started fundamental trading and only using buy-write options and the daily gains are smaller but almost always gains now. Count on losing a lot of money (think of it as "tuition") when you start. The brokerages count on the 90-90-90 rule...90% of everyone loses 90% of their starting money in the first 90 days. Some brokerages don't even really post your activity to the public exchange, they just privately take the opposite of every trade and take your money themselves. If you're a rare winner, then they just start mirroring your trades or double-hedging against you. The people that brag about their $5000 wins never tell you about their losses and the investing world is absolutely packed with fake gurus that try to predict the next big winner or use pseudoscience to predict market moves.

    The only way you're going to have real income from stocks/options is if you have a very large amount to start and take a long view investing in relatively safe investments. If you have lower amounts of income, its a good way to save for the future, but you will get very frustrated (and for sure lose) trying to make a guaranteed or steady current income. Day and swing-trading is every bit as risky as professional gambling and very time consuming.

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