We have 33 million unemployed and 15 million new days traders in last 2 months

[1957may10]

Where or what source did this 15 million new day traders in the last two months come from ???

A broker I talked near the latter part of March...he states more inactive trading accounts, increased number of margin calls and he didn't mention anything about an increase in number of new accounts.

Yet, personally, I do know 2 people that have open day trading accounts but they have not yet done a single trade and another person has become active in a prior inactive trading account...just simulator trading for him for now.

wrbtrader

People I know sold out and sitting on cash and scared.
Called me for advice, bought MSFT and AAPL got gain, but some small portion.
Not such novice activity as I know.

 

[MrMuppet]

 

[Ivano]

I guess I want to invest not with interactive brokers but in interactive brokers

 

[MrMuppet]

I guess I want to invest not with interactive brokers but in interactive brokers

This probably would have been the better trade for 99% of ETers anyways

 

[Nobert]

Double Whammy... First they lose their job, second they lose their ass.

(The wold is a cruel place.)

We have this saying in our country :

,,The fools, will be beaten, even in the church''


Back to op post,

damn, that's about 14 999 000 new members for the 90/90/90 club.

I guess I want to invest not with interactive brokers but in interactive brokers

Yup, that's the thing to do, whenever new virus strikes, long bio, toilet paper & brokers

 

[wrbtrader]

People I know sold out and sitting on cash and scared.
Called me for advice, bought MSFT and AAPL got gain, but some small portion.
Not such novice activity as I know.

I've looked more into it after Mr. Muppet posted some charts...

I found that the DARTs has been rising since late 2019...a few months before the Pandemic and then there's been a decline since the Pandemic. For example, Interactive Brokerage is down -12 % in April following record gains in March and they point the finger at Covid-19 for their decline.

Yet, they go on to say a year to year comparison for the month of April (as in April 2020 versus April 2019)...April 2020 was still 27% higher.

The question now is why were they dramatically rising for a few months prior to the Pandemic ???

wrbtrader

 

[maxinger]

That is interesting ;
get those unemployed to be day traders.

but most day traders can't make it.
so they will become even more unemployed.

 

[1957may10]

I must have met 10 new people the last few weeks stuck at home and now day trading . I'm sure that has something to do with why the mkt's having a tough time giving back even 10% of its recent 35% run despite the worst news in 100 yrs.

Folks, if you are sitting home and have nothing to do.
First at all if you have in your opinion extra money, think double is that really money you want to donate greedy institutions and hedges.
It’s not easy to make money especially in bear market for novice.
Much easier to lose it instantly.
First you have to learn how to do.
Secondary, you have to practice, this may take years till you can make some money.
Stay away from it, don’t put your money at risk.
Economy will recover and you will be back to business.
Do not trust you money “professional “ brokers scammers.

 

[Cuddles]

I've looked more into it after Mr. Muppet posted some charts...

I found that the DARTs has been rising since late 2019...a few months before the Pandemic and then there's been a decline since the Pandemic. For example, Interactive Brokerage is down -12 % in April following record gains in March and they point the finger at Covid-19 for their decline.

Yet, they go on to say a year to year comparison for the month of April (as in April 2020 versus April 2019)...April 2020 was still 27% higher.

The question now is why were they dramatically rising for a few months prior to the Pandemic ???

wrbtrader

oil futures fuck up

 

[1957may10]

It's not even close to the worst news in 100 yrs. NA markets rebounded all the other times. In fact, the 2008/2009 subprime was far more of a direct lasting hit to markets then anything going on so far. In addition, the world knew how to react after having experienced 2008/2009. Too many traders are lost in such a short term focus they can't comprehend longer term trends and forecasts. All I've seen on here since mid-March once the gleeful bears stopped gloating is excuse after excuse why markets aren't doing what some traders wanted to occur.

I highly doubt that a virus that kills predominantly senior citizens and kept people at home for a few months will totally derail the world economy in any lasting way. It may shuffle who does well, but people adapt. That's what the market is telling you, that the long term picture isn't nearly as bad as many traders think it will be. We may bounce around on the way but a year from now none of the extreme negative forecasts some have posted on here will be relevant at all.

I only can say there are to many market moving unknown factors, therefore you can not predict the future.