Have you experienced a lot of new traders in your business since Covid?
Day trading WSJ article
- Thread starter KCalhoun
- Start date
Employers will be complaining about a new problem. Employees on their payroll not working but day-trading.
Nope, most people I know don't have a bankroll of 400k - 600k to quit their job and start day trading.
I reckon that would be a problem with employees who work from home during RTH. It's pretty hard for an employee to daytrade at the workplace.
I saw this in 1999. A lot of people that get very quiet after things tank. I'd say there is a less than 5% chance of someone being a successful daytrader for the long term. If you're successfully daytrading stocks BOTH short and long you are beyond liquidity limitations for stocks (most likely a futures trader).
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IN theory-- they may have an advantage now; many have no commissions/low commissions??
I thought when most gave free commissions last oct, it may make the markets less liquid; but with summer buy + sell volume uptrending =its fine.
ETFs priced under $5 may not be a bigger risk; but penny stocks are a much bigger risk of ruin...…………………………………………………………………………………………………………………………….
I did enjoy Tim Sykes hedge fund book; if one trades penny stocks college may be a good time-- if one blows up @ least its early, hopefully in life/LOL...………………………………………………………………………………...Wisdom is profitable to direct.
To the extent that making it as a solo retail trader is possible now, it sure won't be in the future. Left-wing Democrats will shortly be politically hegemonic in the USA, not losing another national election for the foreseeable future - just as e.g. California is a one-party state. In a few years, retail trading will be killed off by some combination of financial transaction taxes and political/regulatory blowback from the eventual collapse of the "Robinhood Bubble" - whereby tens if not hundreds of thousands of millennials will lose their modest savings gambling via free-trading apps, and on go-go scam stocks like TSLA.
My advice is to pick a different hobby.
Not a huge surge.....
Thank you Ken, article is depressing because it makes day trading seem like anyone with a pulse can make $450k.
I think any article on daytrading should clearly warn readers that it's risky and most lose capital. Also publishers should verify income claims and follow appropriate sec/ftc compliance requirements.
We don't want to see untrained amateurs losing lots of money; that's why the PDT rule was implemented.