Any Day Traders on ChiefsPlanet?

[ChiefsFanatic]

I am looking to start making some moves with an individual account I have, and possibly even an IRA, because 12 monkeys throwing feces at an S&P 500 dart board could do just as well as my investment guy.

So, are there any day traders here? What tools do you use, any websites, etc. Any tips in general?

Thanks

ChiefsFanatic

[wild1]

Go to Las Vegas, at least you get free drinks.

[googlegoogle]

Dude it's dangerous. daytraders lose money.

[KCGridironBeast]

Get short on the S&P via an ETF (check stock symbol SDS)...and thank me later.

[Stewie]

You MUST have an impeccable understanding of technical analysis. That's absolutely imperative when you're losing money. The cards are stacked against you due to the fact that you don't have nanosecond by nanosecond information the big boy's have. You want my honest opinion? Don't do it.

Edit: Do you mean "day trading" or handling your own investments? There's a huge difference.

[Buzzsaw]

The vast majority of money managers, with finance degrees from Ivy League schools and an army of analysts, can not consistently beat the market. Maybe you can though.

[KCChiefsMan]

not a day trader, but I did lose 75% of my savings in the past year or 2

[wild1]

not a day trader, but I did lose 75% of my savings in the past year or 2

Coke and hookers?

[Stewie]

The vast majority of money managers, with finance degrees from Ivy League schools and an army of analysts, can not consistently beat the market. Maybe you can though.

Those Ivy Leaguers are all taught economics from a world that existed 50 years ago. They're hanging on mightily via taxpayers and their salaries are paid with tax dollars. The kingdom fell years ago.... the Ivies now rely on the deductions out of your check.

[Psyko Tek]

I will trade my monday thru friday
for a couple of decent saturday nights

[Kyle DeLexus]

I am looking to start making some moves with an individual account I have, and possibly even an IRA, because 12 monkeys throwing feces at an S&P 500 dart board could do just as well as my investment guy.

So, are there any day traders here? What tools do you use, any websites, etc. Any tips in general?

Thanks

ChiefsFanatic

Go to Las Vegas, at least you get free drinks.
Take everything your planning on investing.....go to vegas and put it all on the Cowboys minus the 3.......thank me later

[13and3]

Dont do it. I spent a lot of money on books, a lot of time on research. Techincal analysis is hocus pocus. The markets are completely irrational in short term. Find some strong stocks everyone else likes, appl, goog, gs,.. put your money there and dont even bother checking back but occasionally. Trust me. I bought and held for a month made 2500. Tried day trading one week, did ok at first and then boom lost 3000 in one day.

[KCChiefsMan]

Coke and hookers?

I wish, my stocks crumbled

[googlegoogle]

not a day trader, but I did lose 75% of my savings in the past year or 2

sh** :shake:

Hope your doing ok.

[ChiefsFanatic]

Edit: Do you mean "day trading" or handling your own investments? There's a huge difference.

More like this. I inherited an account that was entirely made up of Wal-Mart stock, and the dividends it had accrued over the years. The stock is not performing strongly, and I want to diversify.

I want to try and make some smart choices, but would also like to be a little adventurous. I was wanting to know if there were any independent web-sites or tools that could be used to help me pick some stocks, or bonds, or mutual funds.

The IRA that I inherited is just filled with crazy shit, and I might look to dump some bonds, or pick other other strong performers.

[KCChiefsMan]

sh** :shake:

Hope your doing ok.

I'll make it, it was long-term investments, so I had no plans of spending any of it for a long time

[kstater]

You want to get rid of Wal-Mart stock?

[Skip Towne]

Coke and hookers?

I spend most of my money on coke and hookers. The rest I just waste.

[alnorth]

(disclaimer: I am not giving financial advice. For entertainment purposes only. See a Financial Advisor. Not responsible if you lose all your s**t.)

I basically advise friends and family who ask to pick several solid mutual funds with low fees, invest in them like clockwork, and barring anything crazy (mutual fund manager quits), dont look at making changes until at least 3 years go by.

For the portion of the money you want to put in equities, its hard to say what you should put where, so I'll just say what I do and you can make up your own mind. This is very aggressive (but not insane) because I'm young. Older people might want to tilt more to domestic large cap.

In general, I like to index half and have active managers for the other half. I like 30% foreign and 70% domestic. Of the foreign portion, 2/3 in developed, 1/3 in emerging markets. Of the domestic, half growth and half value, half Large cap and half mid/small cap.

Currently, I have 10 mutual funds as follows:

Domestic (70%)

Large Value Managed 9%
Large Growth Managed 9%
Large Blend Index 17%
Mid Blend Index 8%
Small Blend Index 9%
Small/Mid Value Managed 9%
Small/Mid Growth Managed 9%

Foreign (30%)

Developed Index 10%
Developed Managed 10%
Emerging Markets Managed 10%

Summary

44% Index, 56% Managed
In US, 50% Large, 50% Small/Mid
In US, 50% Growth, 50% Value
In Foreign, 2/3 Developed, 1/3 Emerging Markets

[Brock]

Buying individual stocks is scary, absent inside information. When the titanium market exploded a couple of years ago, some people with inside info made a ton of money, but you kind of have to be in an industry to see what's happening.

[Hog's Gone Fishin]

I just bought $10,000 of "uso". When Israel or us hits Iran it will be at x 10

[Hog's Gone Fishin]

Actually day trading is quite easy. Find a stock that has a lot of daily volatility by reviewing the history charts. When you see it has moved to the down position you buy it. When it moves to the up position you sell it. When it moves back down you buy it. The key is you need to invest a lot of money to get wealthy. I f you buy 500,000 share of a $40 stock all you have to do is let it move up $1 to $41 and sell it. And there it is , you've just bagged a cool half mil. It's really not that difficult and I highly reccommend it for everyone.

[teedubya]

Will you be my mentor Oh, Pig jizz master stock trader? heh

[Hog's Gone Fishin]

Will you be my mentor Oh, Pig jizz master stock trader? heh

I'll consider adding you to the list.

[Skip Towne]

I'll consider adding you to the list.

Add me too and send me 20 million so I can work your plan.

[Hog's Gone Fishin]

Add me too and send me 20 million so I can work your plan.

It doesn't work that way. First you have to prove your dedicated by putting up the first 200,000. If you'll show me you have the balls then you'll be accepted.

[Skip Towne]

It doesn't work that way. First you have to prove your dedicated by putting up the first 200,000. If you'll show me you have the balls then you'll be accepted.

Oh, OK, the check is in the mail.

[Fat Elvis]

I'd pretty much do whatever Stewie tells you to do regarding the financial markets. He has a pretty impressive track record over in DC. You don't have to like his political viewpoints to understand that the man has a very firm understanding of the markets.

[Kyle DeLexus]

I'd pretty much do whatever Stewie tells you to do regarding the financial markets. He has a pretty impressive track record over in DC. You don't have to like his political viewpoints to understand that the man has a very firm understanding of the markets.
AND if you look in the gambling challenge thread I'm currently ranked 3rd and have doubled my bank the past 2 weekends.

So normally I would have to charge for this advise......buuuuut I'll just take %10 of all winnings on this little winner

Take everything your planning on investing.....go to vegas and put it all on the Cowboys minus the 3.......thank me later

and after that we can go from there.

[Manila-Chief]

More like this. I inherited an account that was entirely made up of Wal-Mart stock, and the dividends it had accrued over the years. The stock is not performing strongly, and I want to diversify.

I want to try and make some smart choices, but would also like to be a little adventurous. I was wanting to know if there were any independent web-sites or tools that could be used to help me pick some stocks, or bonds, or mutual funds.

The IRA that I inherited is just filled with crazy shit, and I might look to dump some bonds, or pick other other strong performers.

Be careful. 4 to 6 years back, someone in my family tried to go kinda full time day trading. Even went to Vegas to attend a seminar. At times told us about daily earnings. BUT, my wife is still upset that we lost $5k.

Meaning, it may look exciting but may become addictive and you'll lose it all.

IMHO, you have to really know what you are doing, be at it full time, be lucky (& if a play falls the wrong way on your first day you may be out of business), and as someone said, you have to watch the screen full time and be ready to move by the nano second. It is not something you do if you have another job.

Now if you are talking about investing, that's another matter coz you don't have to watch all day long.

I like what alnorth is doing. Since we annuitized we don't have much to invest, so we just have them in aggressive Janus funds. Yeah, I know we could do better but what the heck. But, now that the market seems to be recovering, we might switch to ... what do you call those ... is it exchange index funds???