I am 22 years old and a college student. I just recently got into the stock market game of day trading and swing trading. My four thousand dollar investment has grown into a two thousand dollar profit. Based on what you have witnessed and from your own personal knowledge do stock always generally go up and down. One week they close at 1.55 and three weeks later close at 2.00 dollars.
Additional Information - Should I not waste my time doing the stock market/real estate investing? I'm making 90k per year after taxes, and I'm only 25. Should i just invest it in CDs and 401k? I want to retire around age 45 and travel around the world and just have fun. Also i'm not a big spender expensive stuff, i drive a used car, and......
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2 Comments on “Does anyone who plays the stock market swing trade or day trade if so I have a few questions for you?”
MVD34 11th November 2009
My observation after a couple of decades in the investment universe is that stocks generally go up and day traders end up wiped out (broke).
The stock market in the long term is a logical, weighing machine — chaff gets tossed; wheat gets properly graded and paid for. In the short run the stock market can be an illogical, emotional, beast — destroying the wise and the foolish; the strong and the weak.
Day trading is based on two very foolish notions: (1) the vast army of professional traders with billion dollar pools and million dollar trading platforms doesn’t exist and (2) trends can be exploited in the mid-to-long term. In the end, traders are destroyed by their own arrogance: either (1) they become the "greater fool" in the duck-duck-goose of daily ups and downs or (2) they are destroyed by using leverage to up the ante or play catch up.
zw0ecool 11th November 2009
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