Barefootsies

Who, on the ole GFY, is spending part of their day doing some day trading?

I was watching some special on one of the Discovery Channels that talks about the DOT.COM and online, or internet ventures and such. It made me wonder how many are really doing this?

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WebairChris

There are definitely many people who day trade but it is a very risky thing. I have a good buddy who is a professional day trader. Even with the all of the knowledge in the world it is still pretty much gambling on the market. Some days he makes a score, others he loses a ton. When he first started he last 25K in a few months. one of those things where you can`t just jump into it and expect to make money takes years of experience

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pornguy

I know a could of guys that were doing kick ass at it. And the smart way.

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farkedup

I was doing kickass at it for a while and was even UP over $100k in a good week BUT I simply got greedy and lost it all instead of exiting at certain goals I had set.

I used to swing trade in the pinks like crazy, when you have around $100k you can "short" a stock and cause a selloff or buy in and create a false rumor on the stock just to sell as it climbs LOL god I miss the days of being able to drastically alter stock prices in those pinks.

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Barefootsies

Knowing you, this doesn't surprise me. You like to 'roll the dice'

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adonthenet

We are offering a Forex Managed Account service ;)
Did over +100% since we started on Sep. 1st!

mmcfadden

Placed a $5 put on PHM... tomorrow 8:30 will tell

http://biz.yahoo.com/ap/081022/earns...omes.html?.v=2
WOW... Just saw that one!

mmcfadden

No one else in the market?? Gonna crash big time tomorrow

Barefootsies

On that special I was watching, they had mentioned 'black Monday' when the DOT.COM bubble burst.

Funny in comparison to recent events.

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mmcfadden

What special?
This shit is serious... Black Friday in '29, late 80's crash, bubble burst in '99...

This is bigger IMO... home building unregulated is where we are now... Pulte posting over 100% worse earnings then expected IS HUGE. The shit is gonna hit the fan!

Barefootsies

I think it was on that channel Discovery bought. It used to be TechTV, and now it is called Sci something. But they have a series on there that talks about a lot of internet based history, and issues.

They profile some of the pioneers, and how they got started, pit falls, and successes. But also about things that have happened in the computer, and internet biz over the years.

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mmcfadden

If you remember the show let me know...

To reply to your original question... "Who, on the ole GFY, is spending part of their day doing some day trading?"

I am... and betting down market big time. Way to volatile, have alot of knowledge about building and the start of the decline, etc.

That is why all my positions are short right now

Barefootsies

It was on this channel
http://science.discovery.com/tv/download/download.html

I believe it was this
http://science.discovery.com/tv-sche....25448.32270.3

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mmcfadden

Can't seem to download...

I see the download now but then no "click ability"

Barefootsies

I watched it on television.

I just found that site, and links for ye mate.

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mmcfadden

I'll find it...

How's your day trading?

Barefootsies

I actually do not do anything with the stock market. But thanks for asking. I invest in myself, and my companies. I can make a better return shooting content, or putting it into a new website then I would make in the market.

Everything I have done for my years online has made money. So I bank on myself. However, I found the whole day trading thing interesting. I remember seeing some millionaires on that Bravo, Dating a Millionaire (or whatever it's called), show that made their loot from day trading.

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mmcfadden

I thought more people would step up... this is the biggest flux of trading in the history of the market. I will tell you if PHM goes to 7 in the next 2 months I make 200K... if not lose 40K.

But I like your style... I just started not to long ago and websites are making some money too.

Barefootsies

Agreed. I would have thought more GFY'ers would be in the market. But I guess you have to have MONEY to do it.

But seriously, hopefully the market turns out the way you are betting. It would be a nice payday. I am considering maybe trying it out a little. Maybe just throw a little cabbage in there and see what I can do, or more importantly, have the attention span to handle what is required.

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mmcfadden

did you read all the news about the bottom??

It is not hear yet... dow will hit 6K before things settle

Barefootsies

Fucking YOWSA!!!

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ed146

How much did you pay for it?

Say if it cost you .10 per option, that means you would need the stock price to be below $4.90 to make money.

Assuming November put?

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mmcfadden

Spent .35c
jan 09 put PHMMA

borked

Day trading is frikking hard work! You have to like sit in front of your monitors non-stop. Want to take a dump? Then you can end up losing a few grand!

I have a virtual portforlio for messing around on day trades and well, it's crapper than crap. Starting out with 10k investment, it now has 3.5k

However, I do have a real one for short-mediums that I started at the beginning of Sept which is doing 1.5% net, which isn't bad all things considering. There are some gems in there that should grow nicely over the coming year(s). However, it has to be said, that +1.5% is purely shored up by a single stock.... if I didn't have that, I'd be -10%.

There really are quite a lot of companies though that are totally shielded from this mayhem, so add them to a portfolio as a buffer allowing you more leverage to try some potential big earners

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ed146

Wow, that is a speculative bet. Out of the money put option and you are only paying for time value.

Looking at the implied volatility of market, it will go up and down for a while..

I would do straddle or strangle on that one to be safe.

Good luck!

Btw, if anyone has a good out look on U.S dollar, I would definitely invest in buying futures contract on $. Goldman Sachs outlook is that $ will gain strength for about a year. If anyone is interested you can run correlation between $ and crude oil, they can see that as U.S dollar gains in value, a barrel of crude oil tends to drop.

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bhutocracy

Meh.

Maybe maybe not.
The bears are out in force (especially the ones with active bets on) but don't forget the world was supposed to have ended by CDO auctions already this month.

bhutocracy

Several large mid east projects come online in '09 boosting production capacity also so POO will probably face continued weakness for the next while even if OPEC mange to rein the losses in, however all it really is is a second chance at the oil run up most people missed out on over the last year or so. Next 12 months is a good time to go long on oil (or oil services).