Can I make money, day trading on the stock market?
December 22nd, 2009
I am a teenager about to graduate high school. I am very interested in the medical field but don’t know if I am smart enough to join in on it. My dad is in the stock market and is the day trading type. He gets a hold of a Forbes recommended stock every month and then sells and makes a little "side money" which I know means quite a bit of money to a teenager at least.
But what I really want to know is if he teaches me how to use all the tools with Fidelity, and assuming he gives me a substantial amount of money in the fidelity account, can I become a long term stock holder and not even have to go to college to make a very good annual income? What’s the likelihood of this?
Please help. Ten points for the best answer.
Professionals only please.
Revised: Can I make a substantial annual income day trading or holding a stock for long periods?
My dad has over 0,000.00 in the stock market if this is important.
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Posted in Stock Market Software | 
Tags: Amount Of Money, dad, day trading, fidelity account, forbes, Graduate School, likelihood, long periods, medical field, Money 97, money day, Money Market, quot, side money, Smart, stock holder, Stock Market, teenager, term stock, Trading Stock
A little told fact:
To "day trade" or be a "scalper", the minimal; balance a trading account must have AT ALL TIMES is $25,000 U.S.
This amount does not include any stocks or any positions. This is cold, hard cash.
If the trading account is $1 less than that, different rules apply.
Talk to your Dad about this.
Thanks for asking your Q! I enjoyed answering it!
VTY,
Ron Berue
Yes, that is my real last name!
its possible. not probable but possible. but best of luck to you!
yes, you can. have your dad teach you everything, and do it in your free time.. but i recommend still pursuing your other career goals and not relying on stocks.
You can do it, but it is very hard
But you need alot of luck and a good and quick business mind.
You need to be able to realise a good bargain and when to sell and when to keep your shares.
Also it depends how long you are able to keep your investment in the business
Its possible. However its impossible if you try to do it "green"
You need to spend a lot of time studying the market movements, how stocks react to various types of newsflow.
You have to buy & sell on genuine reasons. You have to be focused, patient. You have to know when to stop. In fact you have to have a good idea why the stock is going to move up or down! Or at least more times than not.
You ask several intelligent questions. Yes you can make money day trading, and you can also lose money. If your father teaches you how to operate, you should be able to make more than you lose. However, day trading requires substantial capital and it takes time spent studying the stock market.
There is a difference between day trading and being a long-term stock holder. The latter is an investor, and one who is careful in selecting stocks for the long term and managing the portfolio can also do well. In fact, you may be able to do better as a long-term investor than a day trader, and it is less stressful. Starting to invest at a young age can assure you of a prosperous future. Historically, the stock market has provided about a 10 percent annual return over the long term. A good investor may do even better.
As for making a good income and omitting college, that would be a serious mistake. No amount of income is as valuable as a good education. Your college days can be some of the happiest times of your life. Here is where you meet life long friends who will achieve a lot in the future. College is where you learn that the joy of acquiring new knowledge is a reward in itself, aside from the benefits it can bring for the rest of your life. You may lose all your wealth, but you can never lose what you have learned. You would certainly be a far better investor with a college degree than without it. It would be a serious mistake on your father’s part to finance your investing instead of your college education. The returns you get from your college education are invariably far grater than the return you can get from investing money in the stock market. It may take a long time for you to realize that. Let’s hope you don’t realize it too late. Good luck with your investing and with your future.
I trade for a living. It is not my side job, or part time job. It takes a lot of work to get to a point of consistent profitability. What I do is not day-trading. There is a lot of information out there on trading. I suggest you practice on paper for a long time until you figure out what works for you. Trading is not a get rich quick scam. Trading is a profession that can give you freedom of time. Luck is not a factor.
you can make money in anything as long as you buy low and sell high..The principles are the same in everything.
There are many financial doctors from the same school of thoughts who manage to operate successfully in daytrading of stocks.
Joseph Lewis was a former waiter,today he’s a billionaire by trading currency.He’s accumulating Bear Stearns.
Maybe you could be one of them if & only you’ve drill yourself and master the skills.
It takes time and patience & willingness to learn from mistakes.
about 15% of people day trading make money - most of them, probably very little money - every transaction you buy or sell, you have to pay a sales commission on and IF you make money on a sale, then you have to pay federal and state income tax on the gain. there is a 85% chance you will lose money - wind up with less than you started with and since you’re only a teenager, chances are you won’t understand much of anything on how to pick stocks (there are over 10,000 public companies out there)