s0r0s
New York, NY
Male, 32
Day Trading: is it a game? A skill? A science? Instinct? Luck? I have no idea, but I do it for a living. Day traders employ a mix of speed, instinct, guts, knowledge and emotional intelligence to trade millions of dollars with a keystroke. The faint of heart need not apply. Ask me anything.
That's a great question. I think, weighing the totality of what I know and what I have seen, that it helps to be educated ... but not that much. At my firm the most successful guys are weighted more toward the former Ivy league types, but there are plenty of people who have almost no book smarts at all that have been successful. That said, I don't think that a top degree or a top education is what makes those traders successful. I just think that people that are driven to succeed, who are willing to work hard and who generally have good work habits are more likely to have been driven to succeed in both school and trading. If there... Read More +
Share Answer: 
It is very hard to come up with a hard "average." The problem is that at my firm and in day-trading in general the structure is very bottom heavy, skewing the averages. Not only that, but the market changes drastically from year to year. In 2008, a monkey could have made a lot of money day trading... the same was true during the dotcom boom. On the other hand, the years following the dotcom boom and the recent financial crisis have been very tough. Day-trading depends on volume and volatility. The ideal trading environment is under a very confident or very panicky market. Uneasy trading markets are extremely difficult. The market... Read More +
Share Answer: 
Nope. Though certainly being likeable and/or helpful might help someone get a little more leeway in tough times.
Share Answer: 
Domestic Equities. Any stock traded in the US on a major exchange.
Share Answer: 
Hospice Nurse
Ever heard any crazy deathbed confessions or family secrets revealed?
Professional Gamer
What's the longest playing gaming session you've ever had?
Claims Adjuster
What happens when NEITHER driver is at fault?
Speed. Focus. Consistency. High Emotional Quotient. I think day trading for the most part comes down to processing information quickly, rather than accurately. Combine the ability to process quickly with someone who can also be unemotional focused and consistent, and chances are you will have a very good day trader.
Share Answer: 
I can honestly say I don't know of an accurate portrayal in movies about daytrading. There was a season of Wall Street Warriors that followed a day trading firm that probably gives you the best idea of what day trading is. I think it was Season 4 and you may be able to find episodes online.
Share Answer: 
Generally, yes, you have to close out each of your trades every day. More successful and experienced traders are allowed to keep "overnights" but even they will only do that on a very small percentage of their trades. Nobody who starts out keeps trades overnight and even those who do do it rarely. Day trader, for the most part, really means DAY trader. Of course, there are exceptions to the rule, and there are a few people that trade on a much longer term basis. But they are exceptions.
Share Answer: 
-OR-
Login with Facebook (max 20 characters - letters, numbers, and underscores only. Note that your username is private, and you have the option to choose an alias when asking questions or hosting a Q&A.)
(A valid e-mail address is required. Your e-mail will not be shared with anyone.)
(min 5 characters)
By checking this box, you acknowledge that you have read and agree to Jobstr.com’s Terms and Privacy Policy.
-OR-
Register with Facebook(Don't worry: you'll be able to choose an alias when asking questions or hosting a Q&A.)
Browse Jobs
Host a Q&A
Search
Submit Your Question
Host a Q&A
