- Aug 14, 2008
- 1,813
- 330
I hate working 9-5 so ive slowly cared about stocks lol.
This is how im seeing it as based on my little experience i've had with it so far. Id like to know your opinions on how realistic im looking at these profit margins.
I use some android app to play with stocks with fake money. I start of with 20k.
I start putting 1k each on things the app dev suggests for the day. I see them go up 2 or 3 percent. Leave em on for about a week or two. Add some more. Same thing. Theyre half negative half positive, losing or gaining about 30 40 bucks each. Sell off some cause they were old news anyway. Heard about fb having unexpected earnings. Bought a k the night I heard. Market closed, but I knew it would go up even if it was 4 percent its still an automatic gain. Made ~250$ cause of that crazy spike overnight. Held it for about a couple hours but sold it. Havent been paying attention but I think its still slowly up? Couple days ago sold everything. Was sitting at 19600 lets I dont remember. I read tesla having 8 percent of lux market one night so I bought 19k of it just to see what happens. Id be happy to see 1 percent which I knew that was the bare minimum. It went up 3.someting percent and made like 570$.
I know fb was once in a blue moon and gambling 20k at a time on one thing is ehh but cant I just do this in small doses daily (is this what a day trader is?) and just live off my 1 or 2 percent gains? All I need is 100 bucks a day profit and im good. Then scale from there.
Is this a realistic idea? Seems too easy. If its this easy then ive been in the wrong field lmao. And I know everything I pick wont gain.
I havent taken account of fees to buy and sell and im from canada. My coworker said something about fees to convert to usd too. So if I aim for 100 bucks a day clean. How much do I need to really make...like 120 to 130? I need that kind of info.
You also need to factor in commissions. I use TD Ameritrade and after a 4 month grace period, it's $9.99 per trade, so every trade you make $20 out of your earnings goes back to the company.
I wouldn't quit your day job yet.