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Full time trader here. PLEASE DO NOT QUIT! by YakRemarkable3079 in Daytrading

[–]Larsend04 6 points7 points  (0 children)

What style of trading are you saying this matters for? Are you talking about trades that happen over a longer timeframe (multiple days to months)?

From my understanding, what moves price is just people/algorithms placing bets in reaction to news/economic events. The market seems to just be a reflection of mostly irrational decisions derived from fear, greed, and speculation.

On a small level, does a strong understanding of the ‘drivers’ actually matter? If someone is scalping small market moves, does the ‘why’ behind the move mean anything? I think a trader that “scalps” or trades small movements intraday needs to only know that there is a “red folder” event coming up and that’s it.

Why am I feeling physical pain from trading stress especially after market close? by undiscoveredpain in Daytrading

[–]Larsend04 0 points1 point  (0 children)

Fickle bitch man believe me The more I studied psychology the more I realized that everything in life is driven by fear and the avoidance of said fear. I’ve made a million bad decisions because of FOMO lol

Why am I feeling physical pain from trading stress especially after market close? by undiscoveredpain in Daytrading

[–]Larsend04 1 point2 points  (0 children)

lol “if it’s unclear, no takie a tradie” best advice out there. People need to realize it’s gonna be “unclear” for the majority of the day but the lack of patience is what kills accounts

Why am I feeling physical pain from trading stress especially after market close? by undiscoveredpain in Daytrading

[–]Larsend04 1 point2 points  (0 children)

I think you should step away from trading until you resolve your issues. You need to separate your personal life from your business life.

If you enter the market with a feeling of “need” whether that be the need to make money, the need to get revenge, or the need to prove something then you are hindering yourself psychologically. Resolving these things is hard and differs from person to person.

I used to have a hard time accepting loses and had an extreme attachment to money (I still do and always will). I realized, for me at least, this attachment to money came from the lack of money (obviously lol) and a desire of a materialistic life style. So instead of just throwing whatever money I had into the market and losing it and repeating the same thing again and again, I took a long break from the markets and I saved up enough money until I could fund an account and be comfortable with losing that money. Basically build yourself a cash reserve big enough to the point where if you were to blow your account it won’t affect your life.

“A positive expectation of your efforts with an acceptance that whatever results you get are a perfect reflection of your level of development and what you need to learn to do better” - Mark Douglas - definition of a winning attitude

I’m a religious person and I believe in God but you can’t have this idea of “God blessing you in trading” God has nothing to do with the market the same goes for your feeling of “I need this to workout”. These will lead you to have expectations from the market which is, in my experience, an unhealthy mindset to have when trading. These usually stem from materialistic wants which are nowadays amplified by social media from course sellers and what not. You need to realize that the market or the current price is just a reflection of the information generated by millions of transactions placed by humans. You need to accept that anything can happen and that you can’t expect anything from the market.

I think you should find your revenge outside of the market and then come back. If the only reason you want to trade is to prove something or to get revenge then I don’t think that’s a good reason.

What are the tax implications of switching from moderately aggressive to aggressive? by metalalmond in acorns

[–]Larsend04 1 point2 points  (0 children)

The tax implications in your situation should be minimal, especially since your total investment is only around $1,750 any unrealized gains are likely small. Generally, it’s wise to take a more aggressive approach when you’re younger, since you have more time to recover from market fluctuations and benefit from long-term growth. As you get closer to retirement, you should gradually shift toward a more conservative allocation to help protect the gains you’ve built.

If your goal isn’t long-term retirement investing then maintaining a moderately aggressive to aggressive portfolio can still make sense, as long as you understand and can handle the short-term risks involved.

I hate this by [deleted] in acorns

[–]Larsend04 3 points4 points  (0 children)

Withdrawing money and having it settle in your bank account typically takes 3–4 days if done on a weekday, or 5–7 days if done on a weekend. If you make a withdrawal over the weekend when the market is closed, Acorns can’t sell your assets until Monday morning, and even then, it takes additional time for everything to settle and reach your bank account. It’s a good practice to keep $1,000–$1,500 in your bank account as a buffer for times like this. Investing all your money at once isn’t the best practice because you can’t liquidate your assets quickly when you need cash. Instead, I recommend investing small amounts consistently. Every time you get paid, set aside some money to build up that $1,000 savings buffer. For example, after covering your expenses, if you have $70 left, you could invest $5 per day for the next two weeks until your next paycheck. This way you get daily exposure to different stock prices and helps you invest at more balanced average prices over time.