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Originally posted by jimmyx
Originally posted by totallackey
A vast majority of our current economic malaise is the simple existence of daytraders and instant online trading...markets can be driven at the whim of a simple tweet...tweet the President has been rushed to the hospital and the market will fall 150 points, until the truth gets out...why?
DAYTRADERS...AKA people out for kicks...
retail daytraders are so inconsequential to the overall market, I was one, got out, why?....there are levels of information provided....the wealthier you are, the more information you can access...also, daytraders rely on trading platforms that they have to trust are fair for everyone. without going into libelous detail, my own personal research indicated that I was at a severe disadvantage. lessons learned?
1. always look to sectors that ARE NOT being publicly talked about, once the information is public, you are already at a disadvantage
2. brokers and dealers make money on bad trades and good trades,
3. the wealthy trade in "afterhours"...when you "see" a stock went up a dollar that day, 80 cents of that rise most likely occurred before the 9:30 EST opening bell, (the start time you are allowed to trade)
4. read about the collapse of Bear & Stearns, and Lehman brothers, to see how insignificant you really are
5. only trust actions taken, never words spoken
6. look for long term, steady, dividend paying stocks for best results, i.e. (energy provider companies, etc.)
there is a lot more I could say, but i'll leave it at that.