Submitted by mbcls t3_zzk8ks in wallstreetbets
i daytrades and i gain 74.87% this year 2022.
i gained over 300% this year daytrading then lost it back to gain only 74.87% for the year.
but at end of the day, err end of the year, i still making / gaining 74.87%
i withdrawal 56k to put in saving account to collect the guarantee 3.25% interests as income :)
>You're a fucking idiot if you think 3.25% interest is going to make you rich. You need to be making at least 10% per year just to keep up with inflation, and even that's not enough if you want to become truly wealthy.
If you're only making 74.87% annually then you're barely keeping ahead of the Joneses, and they are probably a lot poorer than you are anyway so who gives a shit?
I am long on almost all of my positions and have lost a little over 200k; I don’t need to day trade lol 😂
Nice work. Post some positions and screen shots so we have a visual
Great nothing wrong with both is there? Gambling is better when you have ... options...
Wealthfront is 3.8%
but can you trust them? haha
my saving account and brokerage account is at Etrade
Robinhood is 4% 8) so you can earn WHILE you daytrade
i used to have a Robinhood account then discovered that they dont let you "sell short".
you losing 50% opportunity unable to "sell short"
Oh damn. I didn't even know that. I day trade 0dte options. Normal day trading isn't fast enough for me. I prefer to see my account value look like a heart attack picu
what’s up with taking some out to earn 3.26%? you don’t trust your ability to generate another fantastic return next year day trading?
nothing in life is guarantee :)
i'm sure you have heard of "dont put all your eggs in 1 basket". haha
That could change significantly depending how far out you are
then sounds like you do believe that most day traders lose money?
You might be forgetting about taxes.
hey, it's like insurance.
i never gotten a car accident but i still buying 100k car coverage, 500k personal injuries.
dont mind pay taxes when you winning.
or you rather just losing money. haha
This before or after the wash sales?
does it matter?
all i know is that i have more money in my account since the beginning of 2022. haha
Im not a day trader…I choose to (gamble) my money weekly…what’s investing?
363 days…. 🥲
Indeed, don't care about tax if the winning is on paper only.
i'll put my eggs in that basket. all of em.
99% traders buy at resistance and seller sell at support
You sure about that ? 🤔
yep for other not for me
Simple cure. Become a night trader
Yes, you can pay more in wash sales that what you earned. You may want to start shitting yourself.
lmao. my point exactly.
Why are OPs responses being downvoted. You funny WSB people. You don’t need a heck of a lot to boost your account for the next year. Especially in trading options.
Did you calculate your risk of ruin.
730% 3100$
From the looks of that chart if he didn't pull out he would hit zero before the end of 2023
5% portfolio allocation to crypto, 5% allocation for day trading, 5% for just actually gambling (strategically regarded). Somehow those aren't the parts of the portfolio that are in the red
Hey! Hey! Hey!
Don't kick someone when they're down! We are better than that.
We may not have two functional brains to rub together, but that's another tale...
yeah. going by that chart, i going to gain 300% again in 2023 :)
As should all tradings be!
I call BS
Day trading
You lost more trades than you won and that's obvious by your chart. Looks like you had a few great trades then for more than 6 months slow and steady loses .. this is why you shouldn't day trade. You got lucky and that's all bud. Smart move putting the money in savings I'll give you that.
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If you’re gonna do that why not rolling cds? You’ll lock in 4% for many years after the cuts start
Bots never heard of an emergency fund
Reads like The Douchy Digest … and fantasy.
And do what with this Batman suit?
This reminds me a lot of David portnoy during covid. Thought he was the man. Dogging the great Warren buffet even.
Yeah, that’s a big hole in the Big Bad Daytrader story when the best this genius can do is some bank’s savings account.
No worries, they’ll be the same thing again in no time.
There are no wash sales after the security is resold.
The immaturity level here is what makes Boomer shake his head and dismiss this as a temporary joke. The #1 account killer after revenge gambling is thinking you are invincible.
How you trade at night? Like Crypto or something?
I started with $40, got to $300, lost it, then got up to $600 , lost it, now I'm at $100 so I'm down
You actually read the chart? That’s a few minutes you’ll never get back. Anyway, this maniacal fantasy goes on to say it’s in an E*Trade “bank,” something that doesn’t really exist. It’d be a money management account with some bank-like features, it could have a debit card, and it’s most likely connected to the origin brokerage account for immediate EFT (transfers). The long and the short of this story is this person seems somewhat impressed with the mundane aspects of money management, from car insurance to savings accounts and likely is very new to managing money, windfalls or debt. I’d not do business with him or most people, the arrogance is thick as fog with about the same substance.
Did so myself recently, began my journey into Fixed Income with the old, reliable CD … with a twist: Brokered CD. Based on your number, this is what you meant. They pay better than walking into a bank. Next up, TBills. Learning this one as I go.
What savings account is paying 3.25%?
It looks like you’ve done nothing but lose money for the last 6 months, and without numbers, this doesn’t mean much anyway.
If you’re making 300% in 6 months off a $700 portfolio, it’s not that great. That’s like my monthly dividend income.
If you’re doing this with $80,000 then it’s impressive. But the fact that you’ve done nothing but lose for 6 months shows you why most daytraders lose money.
There are a bunch with even more than that. Ally is one. Redneck Bank is another.
Redneck Bank is FDIC insured despite the name.
While I Def lost money, I wouldn't have had it to lose in the first place
Gotta pay the troll toll
if every decision you made, you instead asked a monkey to throw shit at the wall and act on the monkey's "choice", probably 30% minimum of the time you would have been outperformed
On what sectors did you bet?
Etrade. when you transfer money from etrade saving to etrade brokerage, it's real-time, available to use immediately, no need to wait 2-3 days for money to clear. same as withdraw money from brokerage to etrade saving or etrade checking, available to withdraw immediately
yeah? and most "investors" made money? how much they made this year? err. how much "investors" lost this year?
yeah? i should "invests" instead of daytrades? how much "investors" made, err lost this year?
Most investors have losses of around 23% this year in accordance with the market decline. They’ll have recouped 1-2% in dividend.
It looks like you lost around 70% over the past 6 months, but your gains earlier in the year make up for it.
I hope you tax-loss harvested effectively or you’re going to owe 6-figures in tax due to all the wash sales.
You’ll have to make some adjustments going into 2023 to change your trend.
I’m long in tech; have been. Nothing new lol meta is the future but it’s about 5-10 years too early
What bank account is yielding 3.25% interest?
Trade US stocks but move to Japan. Night trading
Can you share with us your positions, we’re you mostly short this year, any tips or just trial and error over years?
no positions currently. I'm a daytrader :) buy in morning, making profits, sold the same day. same as if i losing, got out the same day. yeah, i mostly sell shorts, i also longs sometimes.
How much time did you spend day trading? Be honest. You probably could’ve made more by just working a regular job lol
Dude you were up around 300% then you lost most of that. That's not what a good day trader does. Also there are many other forms of investing other than just day trade and long term. Swing trade and short term trades are among those. Day trading isn't about huge gains. It's about being consistent. Anyway it's your money I don't care either way what you do. I'm just saying day trading may not work out for you based upon your performance since June...
what? there's better jobs than staying at home making money on the phone or computer? haha
Most serious day traders I know spend hours doing research before and after market closes and spending hours during “prime time” trading hours. So on a given weekday, you’re spending 6+ hours looking at a computer. So you made 40k this year. Do the math and tell me if making 40k a year is your “dream job”. I’m assuming you’re still young, but focus that energy on building a career would be my advice. 👍 look past the comfy job of working from home and start building some real skills
Congratulations, I wish this new year will bring you more success, I enjoy when the little guys win.
When people say "Most day traders lose money", they mean after a certain amount of time & trades. Any monkey can pull off a few positive years by chance.
I made like -46%
Day trading is a waste of time because u are just working a job vs having a job that makes money while you investments make money. Also it isn't tax advantaged, so all short-term gains get taxed like crazy. It's literally a no-brainer
I made 100% on my trades. I went into a casino, put $10K on red, it hit. $10K profit. I put it in the bank.
Who said gamblers don't make money?
Damn why didn’t you adjust?
Keep day trading for the next decade. I guarantee you will lose everything.
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