Day Trading, have you tried your hand at it?

[Trinity33]

you will pay a lot more in taxes

 

[JustFuckinaDude]

It’s funny running into this thread. A while ago I noticed that the price of monthly dividend stocks seems to tank right after the record date (I’m assuming people try to chase the dividend and then dump them the day after), so that’s about the time where I buy more. I was buying some the other day and it had never occurred to me before that I could just amass a ton of them, sell them a day or two before the record date, and buy them back when the price tanks again. I’m guessing that’s more or less what a day trader does.

Maybe I’ll give it a shot. The money in the account is already written off as gone anyway.

 

[Zarael]

It’s funny running into this thread. A while ago I noticed that the price of monthly dividend stocks seems to tank right after the record date (I’m assuming people try to chase the dividend and then dump them the day after), so that’s about the time where I buy more. I was buying some the other day and it had never occurred to me before that I could just amass a ton of them, sell them a day or two before the record date, and buy them back when the price tanks again. I’m guessing that’s more or less what a day trader does.

Maybe I’ll give it a shot. The money in the account is already written off as gone anyway.

This is called dividend harvesting, some funds do it but it's considered a bad strategy. What you gain in dividends you generally lose in capital so your overall return is less than if you just held. I think your idea wouldn't really work for the reverse reason. You'd capture a small capital gain but lose out on the dividend, so at best you'd just break even. The best strategy for total returns is, as always, just buy and hold for a long period of time.

 

[JustFuckinaDude]

This is called dividend harvesting, some funds do it but it's considered a bad strategy. What you gain in dividends you generally lose in capital so your overall return is less than if you just held. I think your idea wouldn't really work for the reverse reason. You'd capture a small capital gain but lose out on the dividend, so at best you'd just break even. The best strategy for total returns is, as always, just buy and hold for a long period of time.

Yeah, now that you say it, I guess there’s no reliable way to tell where the bottom and top are. Appreciate it.

 

[somecryptoneet]

It is my current primary source of income. If you are the type of retard who needs everything explained to you like you are DSP, it is not for you (or most people). If you are the type of person who actually finds the idea of it exhilarating and are willing to figure it out go for it, don't chase it.

 

[TheRedChair]

It used to be, but algorithmic trading pretty much slashed it. Of course, you could always just go full retard with it because the market doesn't predict chaos ala GME.

Same here.

If you're dead set on losing your money, at least a hooker will blow you first.

Ahhh yes... those wonderful times in Eastern Europe. Now there are some very lovely ladies in Russia land but God damn once you hit the Baltic States or Hungary, Romania, Bulgaria, Ukraine, Georgia, your mind will be blown.

Before I met my current wife I was serious looking for a Eastern European Bride, but closer to my age and intellect.
And yea if that person looked like a potato but had a heart of gold that would be a keeper too.

When you are young you are a raging wolf. When you grow old the old wolf just wants his belly rubbed and lay next to his/her mate in a warm comfortable bed.