1 vote

Any daytraders here ?

Let me began by saying a long time ago I tried to trade options in the stock market.I was not very successful and pretty much got burned. Of course this was a time before PCs and charts and the like.

I really could not get information fast enough needed to be successful, but I've always been fascinated with the idea of trading in the stock market. Recently I have heard about binary options trading this is where you can trade an option in something like 60 seconds{now don't laugh} but I had never heard about this before.

I never realized you could trade with a very small amount of money. This was never the case of course years back when I tried my hand at it.Anyways after watching a few YouTube videos I decided I wanted to try my hand at it again.

I recently saw an advertisement on the PC from a brokerage company called Zoom trader.it was pretty interesting and they seemed legit and they offered a few strategies that looked like it might be profitable.

Well,then I read some reviews about the company and they were not very good, as a matter of fact they were said to be a total scam. Well this really freaked me out as a sounded pretty legit not only that but their company from Cyprus.

Anyways I thought I would get some advice from the wise folks at the DP because I know there are some successful day traders on here. Has anyone heard Zoom trader.

So if this Zoom trader is a scam could you give me some advice on some reputable brokerage companies and maybe some videos or strategies that you would suggest for a total newbie .

One thing I've always appreciated about the Daily Paul is that there are so many folks on here who are willing to give their free advice two other fellow patriots.

Thanks and I love you all Lance,

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Former day trader of futures contracts.

When I retired in 1997 at age 35, I traded SPX and Tbonds. I day traded futures contracts for a year. I made about $100/(trading day) which is pitiful on a $200k account, with a risk free interest rate of 5% and requiring 30 hr/wk. I quickly gave it up to expand my residential real estate rentals and land speculation which has yielded much better results.

While I now trade short term (1 week to 1 month) ETF options (usually short options spreads on SPY) successfully, I will never go back to the day trading because it required so much attention.

You never know if you're cut out for it until you try it. I just know that I am long term real estate and precious metals and a short term trader.

thanks for the advice

and I certainly don't have 200 K to play with. But I've actually heard that you can now trade with small amounts of money and that is certainly where I would start.