Time to day trade during law school?

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androstan
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Re: Time to day trade during law school?

Postby androstan » Wed Jun 08, 2011 12:43 pm

ITT: OP uses an inane LS question as a thin veil to brag about having a secret technique to double his money every 9 weeks.

shoeshine
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Re: Time to day trade during law school?

Postby shoeshine » Sat Apr 21, 2012 4:39 am

I am bumping this thread a year later to say that I actually didn't have time and that this was a terrible idea. The investment strategy fell apart in December when I stopped paying attention to the trades enough to stop some losses from snowballing. The options themselves are also now priced in a way that barely makes the old strategy viable either way. You live and you learn.

There seems to be a ton of posts about day trading and investing lately and I want to point out that no one is smarter than the market over the long term.

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dingbat
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Re: Time to day trade during law school?

Postby dingbat » Sat Apr 21, 2012 8:32 am

shoeshine wrote:I am bumping this thread a year later to say that I actually didn't have time and that this was a terrible idea. The investment strategy fell apart in December when I stopped paying attention to the trades enough to stop some losses from snowballing. The options themselves are also now priced in a way that barely makes the old strategy viable either way. You live and you learn.

There seems to be a ton of posts about day trading and investing lately and I want to point out that no one is smarter than the market over the long term.


I agree with this. If you know what you are doing (most people don't), can spend hours researching (and know what you're looking for) and can frequently monitor your trades, there are tricks that can eke out reasonable returns.
The problem is, you do this once or twice and you think you can do it all the time.
However, staying on top of it is a full-time job (in terms of dedication) and not paying attention just once can ruin weeks of gains.
Don't do it. You're not smarter than the market. If you were, you'd eat, sleep and breathe finance and you wouldn't have even thought about going to law school.

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Tiago Splitter
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Re: Time to day trade during law school?

Postby Tiago Splitter » Sat Apr 21, 2012 12:29 pm

dingbat wrote:The problem is, you do this once or twice and you think you can do it all the time.


+1. I was rolling in cash selling put options on bank stocks in the summer of 2008. Huge premiums, stocks never dropped. And then came time to pay the piper.

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vpintz
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Re: Time to day trade during law school?

Postby vpintz » Sat Apr 21, 2012 5:26 pm

Fred_McGriff wrote:Hey Farva what's the name of that restaurant you like with all the goofy shit on the walls and the mozzarella sticks?

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dingbat
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Re: Time to day trade during law school?

Postby dingbat » Sat Apr 21, 2012 5:39 pm

Tiago Splitter wrote:
dingbat wrote:The problem is, you do this once or twice and you think you can do it all the time.


+1. I was rolling in cash selling put options on bank stocks in the summer of 2008. Huge premiums, stocks never dropped. And then came time to pay the piper.

I made a ton selling covered calls. More capital intensive, but less risky. But as soon as you get cocky....




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