Best Day Trading Stock Signals Subscription

OXFORD_SMOGGY

I have read a number of books now and been day trading for a number of months on stocks to a small degree of success, (small ROI and smallish bankroll to start with).

Id be interested in signing up to some sort of day trading signals service that I can learn more from and correlate to my own ideas and trade. Trouble is there is so much spam on the market I cant sift the wheat from the chaff so to speak so would be interested to hear of anybody's advice/experiences in this field?

Many thanks as always

grey_gym_sock

there is no wheat. you've been lucky so far. bail out now, while ahead. if you keep going, you will end up losing money.

OXFORD_SMOGGY

There are ways to make money people do it full time from home I'm just in the learning curve everybody starts somewhere

ColdIron

Indeed, but as the Irish say, I wouldn't start from here

grey_gym_sock

(at least) thousands of people try it. the results are basically random. any share has roughly a 50/50 chance of rising on any 1 day, perhaps just over 50% chance of rising, because stock markets generally rise more often than not. but when you allow for the costs of trading, day traders as a group will always be losing more than they win. because the costs to buy and sell again are vastly more than the average rise in the stock market in a single day.

the day traders who are ahead so far have just been lucky. that is entirely as expected. thousands try it, and just under 50% are ahead on any 1 day, then some will be still be ahead after many days, or years. but not a large proportion. and the longer the time, the fewer will still be ahead.

also, don't necessarily believe self-reported trading results. a lot of people deceive themselves, by not keeping track of how much money they've added to their trading account.

and of course, people who know they've lost money trading tend not to brag about it.

ask yourself: if somebody had day trading signals that worked, why would they sell them for a modest (or even a huge) sum to all-comers? why wouldn't they instead trade based their signals with their own money, and keep all the profits for themselves? that would, assuming their signals work, make them fabulously wealthy. letting other people in on the same trades could only dilute their profits.

OXFORD_SMOGGY

Yep agree with that I am currently a professional gambler making 5% ROI a year on US Sports , I have an edge from my model in that and am looking to get into something similar with stocks. It is possible I just need to do a lot more research and practice trading. Selling signals can be profitable as if you have a following of sheep that buy into the market it only puts your own stock price up, you could even sell it back into them if your were a scumbag!

grey_gym_sock

interesting. what do you think is the explanation for your edge in sports betting?

is it because bookmakers deliberately shorten the odds on heavily backed outcomes, creating opportunities to back less heavily backed outcomes at favourable odds? if it's that, i don't think there is any equivalent in stock markets.

or is it just because you have a better model than the bookmakers? that would be quite a tall order even in sports betting. but vastly more difficult in stock markets, where you're 1 person competing against teams of skilled traders who are backed up by vast computing power and custom software written by teams of extremely clever people.

or is there some other explanation?

Malthusian

OXFORD_SMOGGY wrote: »

There are ways to make money people do it full time from home

People flog trading signals to other mugs from home and those people make money. The people they flog the trading signals to always lose money in the long run.

I'm just in the learning curve everybody starts somewhere

There is only one way to make money by day trading, and that is to quit while you are ahead.

Yep agree with that I am currently a professional gambler making 5% ROI a year on US Sports

No offence but that's a crap ROI. I make a significantly higher return than that (8-10% ROI) from holding a bog-standard diversified portfolio of stockmarket trackers, and I am taking much fewer risks with my capital and doing much less work. To justify the risks you are taking you need a much higher return.

Reaper

OXFORD_SMOGGY wrote: »

Yep agree with that I am currently a professional gambler making 5% ROI a year on US Sports , I have an edge from my model in that and am looking to get into something similar with stocks. It is possible I just need to do a lot more research and practice trading. Selling signals can be profitable as if you have a following of sheep that buy into the market it only puts your own stock price up, you could even sell it back into them if your were a scumbag!

5% sounds very low - do you really mean "per year"? My brother is a professional sports gambler, though not in the traditional sense. He knows nothing about the horses/people he bets on. Instead he has automated programs he wrote himself constantly searching for market discrepancies and automatically placing bets. He makes a good living out of it and has done so for many years. He tried moving into the stock market too but found that much harder. You are up against huge teams of very bright people with unlimited budgets, so he has given up on that for now.

I guess what you are looking for is a "chartist" approach - if the share price graph follows this pattern then it normally now rises/falls.

I'm dubious about it as those clever well funded teams look for those sort of patterns and jump on them early, and in doing so distort the prediction.

AnotherJoe

OXFORD_SMOGGY wrote: »

There are ways to make money people do it full time from home I'm just in the learning curve everybody starts somewhere

And for each one making money from home a hundred are losing money from home.

If it was that simple the big boys would have wrapped it up with supercomputers and highly sophisticated algorithms. But they havent because, even theoretically its actually impossible.

AnotherJoe

OXFORD_SMOGGY wrote: »

Yep agree with that I am currently a professional gambler making 5% ROI a year on US Sports , I have an edge from my model in that and am looking to get into something similar with stocks. It is possible I just need to do a lot more research and practice trading. Selling signals can be profitable as if you have a following of sheep that buy into the market it only puts your own stock price up, you could even sell it back into them if your were a scumbag!

Thats not especially impressive. Or indeed, impressive at all.I've beaten that in stocks over the past 20 years without being glued to a screen.

Sports is also very different for fairly obvious reasons there are various arbitrage opportunities you can take. The stock market doesn't work the same way. And if there are arbitrage opportunities they are cleaned up by algorithms quicker than the time it takes you to look at a screen and understand its a graph you are looking at let alone its a candle formation or other similar guff.

I suggest you find a chartist forum, though if it were that easy, the people on those forums wouldn't be on them they'd be on their own private tropical island.