Which types are best suited for this? Someone analytical with good intuition? I'm wondering if I'd be good at it. Thank you.
Day Trading/Swing trading
Which types are best suited for this? Someone analytical with good intuition? I'm wondering if I'd be good at it. Thank you.
Ne
The decisive thing is not the reality of the object, but the reality of the subjective factor, i.e. the primordial images, which in their totality represent a psychic mirror-world. It is a mirror, however, with the peculiar capacity of representing the present contents of consciousness not in their known and customary form but in a certain sense sub specie aeternitatis, somewhat as a million-year old consciousness might see them.
(Jung on Si)
I think risk-takers will be most likely to do it, particularly ILEs and ILIs. That's not to say they're most skilled or that skill is even possible. Most people into it probably lose out.
I'd highly advise against it.
The common approach seems rely mainly on Ni and T.
> I'm wondering if I'd be good at it.
Without financial education and knowing the products it should remind a gambling. For this situation Ni ego fit the most. Your type can be other, where weak regions mean more efforts and spared resources for acceptable level.
My familiar EIE liked to deal with it. For long. Without great incomes, mb more for a pleasure. There was no known critical losses by her too. Anyway, all that is close to unpredictable gambling.
Thinking types might probably be better because you need to keep your emotions in check. But anyone with enough knowledge of charts and TA can succeed.
"Precision beats power and timing beats speed"
There's a way to do it so you can hedge or have stop losses set up, so you don't lose too much money. I've seen a lot of people pretty successful at it and seems pretty good way to pay your bills. You can start out with a small amount of money and grow it like even 100 dollars, and maybe double your money every month. You can take your gains out and put it in savings, so even if you lose everything, you still have what you started out with. Pretty minimal amount of work with good pay off and just do it responsibly, safely, with minimal risk.
Yeah just be very careful I lost a lot of money stupidly trading crypto. You need a strategy and need to mitigate risk big time. A good strategy would be to dollar cost average on the way down.Originally Posted by Fractals
"Precision beats power and timing beats speed"
You need to have a negativist attitude when trading. It's more along the lines of how do I not lose money than make money attitude.
"Precision beats power and timing beats speed"
That assumes you'll make gains.
The market fluctuates a lot. I saw this guy just generate a random number then pick any stock and made money from it. OR I can go on finviz.com and put in any criteria for a stock and it'll scan all the stocks for me. Also, whether it goes up or down, you can still make money. Anyway, I'm just thinking about doing it because I freakin' hate working.
That's understandable, but I believe the average investor in the long term only makes an annual return of 2.5% a year (I'm not sure if that adjusts for inflation), somewhat above the long term rate of inflation: for day trading, where you have no idea what you're doing, you will most likely do worse than this. Investing in an ETF that tracks the S&P 500 has historically given a return of 7% or so a year adjusted for inflation: that is a far better thing to do for the average person who knows little about investing. Day trading just simply isn't investing.
7% may not sound like a lot, but it would mean doubling your savings every ten years or so. Now may not be the best time to invest in such an ETF, but even investing in 20 stocks chosen at random will most likely give you a better return that day trading. Again, I highly recommend that you don't become a day trader. It's just speculation, and most people lose money doing it.
https://www.fool.com/investing/2023/...d-millionaire/Warren Buffett is one of the most famous and successful investors in the world, so when he gives advice, it often pays to listen.
While everyone's investing strategy will differ based on personal preferences, there's one type of index fund that Buffett has long recommended. This fund can fit into any portfolio, it requires next to no effort on your part, and it could even help you become a millionaire: the S&P 500 index fund.
An S&P 500 index fund follows the S&P 500 itself, containing the same stocks as the index and mirroring its long-term performance. This index has high standards, so the companies in the S&P 500 are some of the largest and strongest organizations in the U.S.
Buffett swears by this investment, and back in 2008, he put his money where his mouth was with a $1 million bet.
Buffett bet that over 10 years, an S&P 500 index fund would outperform five actively managed hedge funds. His investment, the Vanguard 500 Index Fund Admiral Shares (NASDAQMUTFUND:VFIAX), not only won, but it trounced the competition -- earning returns of nearly 126% while the hedge funds averaged just 36%.
https://www.fool.co.uk/2021/12/06/sh...an-sp-500-etf/Like many others, I consider Warren Buffett to be the best investor of all time. I also appreciate the famous billionaire’s ability to untangle complex investment ideas to create simple, memorable advice.
Possibly most interesting is the advice he left to the trustees of his wife’s estate. In 2013 in his letters to shareholders he wrote that he’s advising the trustees to invest 90% of the assets “in a very low-cost S&P 500 index fund”.
This advocacy for S&P 500 index funds is something that the Sage of Omagh is known for and it got me thinking. I decided to follow the route he’s advising that he thinks will protect one of the most important people in his life.
Nah, it's quite possible to make 100% return every month on your investments. You could have over a million in just a year starting with just 1000 dollars.
Last edited by Fractals; 05-29-2023 at 07:30 PM. Reason: wrong math
Jungs associates speculation (which includes trading in general) with Ne.
But I'd say it's an ability anyone can develop, just like doing math.
Sometimes you don't have motivation because you lack purpose.
Sometimes you don't have purpose, because you lack self-knowledge
Sometimes you don't have self-knowledge because you lack love
Sometimes you don't have love because you lack self-love
Sometimes you don't have self-love because you lack guess what? Ask Gulenko!!
It's quite clear to me you have no idea what you're doing. I doubt even Warren Buffett ever made a 100% return every month. I highly recommend you don't go down this path.
@Fractals some companies allow you to have demo trading accounts, where you don't trade real money, but get to experiment with your ideas. I suggest you try with such an account for a year or so, without risking any money, and see how you do.
Okay, Mom!
Possible but not probable. Like lottery possible but not probable. Ofcourse this aint a lottery, you have more control over it but there is also element of luck since market isnt super predictable. Otherwise people would do that all the time and most would gain a lot. And there are instutions only built to trade and they dont even make that much although they have the tech etc.
In order to make that much of gain every month, you also have to risk a lot and that can go other way in a way that can cause you lose money. Most people who start new lose more than they gain.
But it is more probable to make a living out of it without gaining %100 of what you put every month. And even solid %20 is pretty damn fine.
For starters they say it is better to write down without trading to see how it goes and then establish a system for it. I didnt do that, but losses taught a lot.
Everybody's my Mom. Don't tell me what to do. If I want to throw 1000 bucks away, I will throw 1000 bucks away. lol. Probably at worse will break even. Thank you for your concern.
Throw at me.
I will say it as it is bc im sick of that toxic negativitt
Y. Dumb or inept ppl whon wanna make excuses are saying that here bc they can't and want to drag u down.
It happens to most Ni egos. Its a stereotype/patterns. Ni isnt always right but it improves n learns unless you have an illness/handicap
https://linktr.ee/tehhnicus
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Stock trading is more traditionally associated with using cocaine and hookers.
I always thought making financial predictions was a very stereotypically ILI associated thing.
Day trading involves making quick decisions, so analytical skills and intuition are indeed valuable. It's fast-paced and can be risky.
Swing trading, on the other hand, allows for more time and might suit those who prefer a less intense approach. It still requires analysis but with a longer-term perspective.
To see if you'd be good at it, you might want to start with paper trading to practice and develop your skills without risking real money. Also, consider consulting with a prop trading firm for guidance. They can provide valuable insights into trading strategies and help you determine your suitability.
Last edited by laurenewison; 12-17-2023 at 09:01 PM.
ILE is the ultimate day-trader
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