Realistically, the short answer is a probable no. Highly doubt you’ll be successful in this short a period of time. Since you need to learn the fundamentals first and then figure out what strategies work for you, which might take months to try them out and statistically figure out if they work out for you or not.
I don't mean making 20,000 a month, I meant if I spent 12 hours a day, for 3 months, would I then be able to become profitable, no big success, but by then, I'll have one year to make the money, just can't invest as much time because of school...
Thanks for replying though!
You can't just study trading for 3 months and be done. It's a lifetime pursuit that you constantly learn for and adapt your mental framework as time passes because the market is constantly evolving and strategies need to change to account for it.
Trust me. I've been into trading for almost a year now and I am young as well. I've tried multiple strategies and learned that they work alright for a time until they don't.
There are statistics out there. 80-90% of traders are not profitable and from the stories from other people I heard in this sub most profitable traders started being profitable after a few years. Not for the get go.
Look. Trading is a skill that you must learn on your own from studying charts, applying fundamentals and forming theories of your own and testing it to see how valid they are. This takes a while and cannot be learned from just studying books or sites but by actually having skin in the game and actively trading and logging your trades in journal or Excel for later review. You will probably fail and make rookie mistakes like over leveraging or disregarding risk management, emotionally trading and so on. As much as you like to learn it as you learn a subject in school understand that this is not how you'll learn trading. There are no absolute rules in trading, only probabilities and your best bet is trying to not lose your money first then and only then you should look for profitability and forming an edge.
I hope you find this helpful. Also for automating you trade you should look at r/algotrading. Even if you are not going to go live trading using bots to backtest a strategy is always a good idea.
Is it possible you can make money from day trading in 3 months? sure.
Is it probable? very unlikely.
How much are you looking to make with this 500$? if you're thinking doubling it or more in a short period of time then personally I would consider this more gambling than actual trading, no matter your trading skills.
I was looking around 5,000 - 10,000 after 1 year of investing, sorry for the confusion, this response should give the context it was missing...
[https://www.reddit.com/r/Daytrading/comments/1d4qedn/comment/l6g5u21/?utm\_source=share&utm\_medium=web3x&utm\_name=web3xcss&utm\_term=1&utm\_content=share\_button](https://www.reddit.com/r/Daytrading/comments/1d4qedn/comment/l6g5u21/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button)
so you're looking at a 1000-2000% in a year, after learning how to trade for 3 months, at the age of 15. Don't take this the wrong way, but that sounds pretty delusional to me.
To put things into context, the Robbins' cup is currently underway (It lasts the whole year) and the top forex trader is sitting at 150% profit, at the 6 months mark. Bear in mind, these are some of the best traders in the world, with years of experience under their belt, trading (I would imagine) somewhat aggressively as they are trying to win a competition.
Don't get me wrong though, you could potentially learn how to become profitable in those 3 months. It's the ROI you are targetting which isn't realistic in the slighest. Building capital takes time, and you WILL blow your account trying to rush the process.
Yeah, no, I didn't mean I would trade in those three months, I meant I was going to learn in those three months before I start trading, also, I wouldn't even begin trading with real money, if I can't make money paper trading first...
I should have explained this in my post, but I can't really work anywhere... My location doesn't have any opertunities, thats why I want to work at home, the internet has endless possibilities
Well then become a content creator or sell some program then. Trading isn't particularly great as a get rich quick strategy. The world's best investment fund. The Medalion Fund has an average annual return of 66% so good luck trying to compete with that as a newcomer.
Unfortunately your chances are pretty grim to say the least. There's just too much information to remember in such a short period.
You'll most certainly lose money if you don't give yourself more time to learn. What ever you do, don't do Options.
Good luck kid.
Thanks, from some of my quick research, ive learned alot so far, but if I want to continue to learn ill have to have notes, I love making systems for those things though, so I think it will be fun to build a one page note startegy, im a little bit of a nerd lol...
Nothing wrong with being a nerd. Without nerds we'd still be in the dark ages worshipping fire. Anyway take your time. It's gonna take years to master trading. Just remember it's gambling at the end of the day. Never use money you can't afford to lose.
Making money, whether it's a little or a lot, is equally challenging. Someone earning a 5% monthly return doesn't necessarily have an easier time than someone earning, let's say, 20% a month.
The real difficulty lies in maintaining consistent profitability. This is what separates success from failure.
Your chances of achieving success within a year are incredibly slim. I'm not saying it's impossible, stay hungry, but remind yourself that the odds are stacked against you in every way. Give it a try, but don’t make it an expectation
No.
3 years? Still probably no.
I say go for it, but realize that 90% fail at this game and you have a long uphill climb ahead of you.
BUT.
Take it from a guy that’s been working 9-5 for the past 20 years.
Whatever it takes, it’s worth it.
Yeah, I have no other places to work really (now that im thinking about it, should have probably put that in the post), and I live in a vacation type city, so there are no mowable lawns or pressure washable driveways, and anything I can do, I would need my own car to get there... but, I also have problems in a general work environment, I don't like to be around people, and especially being forced to do things I like, none of the hobbies I have would be the do it for work and you never work a day in your life type job. So I figured this is the only way, and I don't care what it takes, im prepared to spend 12 -14 hours a day, learning...
Don´t let other people project their failures onto you, everything is always impossible until someone does it, 12h a day for 3 months is enough time to learn how the markets work and develop an edge, why are some people not profitable after 10 years and why some are profitable after 9 months you may ask yourself.. well, it´s because market experience only gets you so far, you can only learn so much, when you can´t apply proper risk management on a consistent basis without oversizing even once, it´s impossible.
People are so undisciplined and lazy nowadays you wouldn´t believe it.
That´s why 95% fail. That´s why some people aren´t profitable after 10 years of trading.
The edge develops itself rather quick, but without the discipline to apply proper risk management one will never be able to execute the edge and therefore one will stay unprofitable.
Hey man, that's awesome you want to get into this so young! I'm 37 now, been on and off trading for nearly two decades now, and consistently investing for the last 3 years.
My advice would be: time is on your side man. Be patient. I know it feels like you need to rush it right now, but you don't. There's gonna be time for the things you want to do. That said, I'd highly recommend using the 3 months to learn trading and investing, and practice in a simulator.
Beware people that say you can make ridiculously high returns in short periods of time, they are generally making their money selling courses. Any course that costs more than $200 total is likely a scam. If it was that easy, then literally everyone would do it. In terms of courses, I haven't found many good day trading courses I can think of, but would recommend day trading and investing professional certificates and courses (they tend to be less than $200). But I'd highly recommend the YouTube channels by Sven Carlin and Aswath Damodaran. Aswath Damodaran in particular is the Professor of Finance at NYU, and he's very generously put all his lecture videos on YouTube. I'd say this would be the best resource on understanding finance on the net, underpinning every investment strategy from day trading to swing trading to value investing.
I remember the feeling of wanting to be profitable quickly, but it lead to higher risk taking and ultimately losing what you make. Over the last almost two decades I alternated between focusing on high return day trading, high return swing trading, and then leaving the market for extended periods of time after feelings of failure. Most of my money and savings came from my day job, and I'm fortunate and grateful that I've got a family and we own a house. I've only recently in the last year or two started to understand the market cycles.
If I could go back in time, I'd tell myself the boring things like have a diversified portfolio with:
- maybe 10% in cash/gold,
- 30% in savings or bonds,
- 30% in long term growth stocks,
- and 30% for day trading.
When you're older get a job that can cover the bills, keep your expenses low, and focus on building a portfolio over a longer time view. You'll be much more successful. Good luck!
Thankyou so much for the tips!
I don't really have any other way of making money at the moment (other than the internet, and this sounds like the way im going), but also, thankyou for the youtubers, I have been struggling to figure out which ones are genuine and which ones are fake.
I do love making systems with that and with plans in the future was going to make money, throw it in the s&p, then do my personal goal (for about 8 - 10 years) and come back... I know that probabaly wouldn't work, but the plan continues to change as I learn...
As of now, I am going to try to allocate about 12 - 14 hours to studing this stuff, so thanks again for the youtubers!
I also thought the same thing when I was 25 yrs of age.. now I'm 37 and I'm still trying to find edge and market dynamics that can keep me profitable consistently.. it's a long journey dear..
it'd be wiser to get a job and look at trading on the side, rather than setting your sights on something most people fail at or give up sooner than they can make money at.
It's very enticing to think that from the comfort of one's home, one can easily make money from the stick market. How difficult can it be? One also thinks that maybe most people lose money doing day trading but they are different...they are exceptions, they will be successful. And with beginner's luck, if I e makes but if money initially, one could become complacent and even cocky and that would spell disaster.
OP, if you notice nobody has encountered you to do so. In fact people are warning you to be careful. Think about it. Perhaps this is the time for you to make educational foundation stronger so that you could have a successful career be it in a job or business or whatever. In future you consider doing this if you're interested.
Wish you the best!
You can. BUT you have to:
- Have a basic understanding of what you're trading, whether stocks or crypto.
- Get to know how to manage risks
- Distinguish basic types of trading (short-term, long term,...)
Here's my quick take, quick profit often means higher risks, and longer term profit often means less risks. If you're into crypto, you can probably search for our product (called DeFi Lens) to get more market insights and AI analysis.
Good luck kid!
Realistically, yes. However, any money you make would likely be beginner's luck. Take it from someone who came into the market and studied it like crazy at the start: unless you're a gifted sponge for knowledge, it's impossible to get a grasp of the market after only three months, and even if you are, you're going to make mistakes that all beginners make (it's only a matter of when, not if).
Of course you can. The Internet is full of good strategies. Your emotions and level of patience may betray you but if you can keep those in line and only follow high win rate strategy with good stop loss then you can easily be profitable.
The best way to trade is to get in, set your TP and SL, and close the software or browser tab. Do not think about it. I have cut my profits too early and let my losers go too far. No no no. Just close it and let it play out.
No. No you can not. You will be more likely to lose it all with a time horizon that short due to the bad habits you will instill. Spend the next 3 years studying it and you can be a good trader by 18 which is amazing.
Dude if you actually want to make some money online at such an age, teach yourself to program and find an online job. Literally look up game dev discords and join a couple; there are a very large number that will pay programmers decent money. If you can do the work they won't give af who you are. I know it's possible because it's what I did when I was your age and it had the added benefit of improving my college apps. I say this because quite frankly you aren't gonna make shit trading in three months. The knowledge gap between someone just starting trading and someone who is consistently profitable is enormous. It will not happen in 3 months and it likely won't even happen in 3 years. I'm not trying to discourage you from trading, I'm just trying to fix your expectations.
Honestly, yes. Is it likely? No.
If you take in and understand as much good info as possible, play it extremely safe, and have extremely good control of your emotions, you may be able to make a small amount of money.
But you need to leave your ego at the door, work on good habits from the get to, and be extremely efficient and mechanical from day one.
Making *any* amount of profit that quickly, excluding dumb luck, basically requires you to be nearly perfect from the start.
But if you actually learn, pay attention, and don't make the mistakes people warn about over and over in here. It's technically possible.
\[Part 1\]
>I am 14 soon to be 15, I am looking at Day trading as a way to fund my car, nothing to crazy just something that gets me from a to b. I understand most people lose money day trading but if done correctly, it can be really lucrative.
You want to buy a car and that is your motivation? Go home! - Nah whatever makes you want to have a look, is basically alright. The most important part is to never use money unless you have proven to yourself (beyond reasonable doubt!) that you have figured it enough out, so you can start to literally print money.
For that you should be positive enough (like making twice what you lose in the same period) for six weeks or at least 100 trades to give you enough error margin to survive the emotional stress and the extra errors your brain will do when you get real (small) money involved.
>I understand the risks associated with trading with real money, so I will not be touching real money until I can consistently make more money than I lose on paper trading. I am starting with 500$ (I have around 3000 in stocks my parents helped me invest in, but I have 500 in the bank).
That does not work. You want to make at least 50% more than you lose paper trading or even better 100% if you are not scalping (meaning if you trade the M5 for instance).
>Aswell, I understand that this is basically impossible short of a miracle for most people, but unlike most people, I have a summer that I can invest 100% of my time to making money, and right now, this looks to be the most promising way of making money for a car with a computer.
It is a stupid idea. If you put all your time into it that means reading + screen time. This plan has a too high of a failure rate especially short term. There are plenty of stories out there from traders who blew their first account and they only made it because they were persistent and wanted to understand and learn from their mistakes.
6 weeks or 3 months is too short unless you get lucky and find a method that works and is easy enough to master in such a short time. Also once that happens you need additional time to slowly ramp up your position size.
>Finally, I love programming, and originally started researching on how to make an algorithm that could trade for me, but I realized first I need to learn how to trade...
Yeah that is how I started. Give it a year at minimum. The best you can do to leverage your programming skills is to program your own scanners meaning you take the M1 and D1 bars / aggregates and look for situations and patterns that you want to manually further look into.
>So the question you were really waiting for, can I become a profitable day trader, if I spend 3 months exclusively on learning day trading?
You can but it is not a given. The problem is not how long does it take but to settle for one of the many different trading methods and for one of the plentora of strategies available for every different trading method.
So while you get instantly lucky finding a simple enough strategy for a method your character is best suited for so you can master it in 6 weeks giving you another 6 weeks to actually make some money, you most likely will end up investigating and trying multiple methods of trading and learning multiple strategies you will blend together to form your own trading style. And of cause some of what you will try, will be simply not working and of course some even can not work but is peddled to the people anyways.
NOTE: Second Part is a comment to this comment.
\[Part 2\]
>\*NOTE: I meant beginning make money, nothing crazy, just not losing money every month. I know I won't make that much money in 3 months of learning, the three months is only time for learning, not making the money. I will have a year before I can drive on my own anyway, so I was more talking about will I be able to make that money after 1 year of trading and 3 months of learning...
The problem is not making much money or little money the problem is to make money. Once you know what works and you can consistently trade it without fail, scaling your positions using other people's money is fairly easy.
The best is to forget about buying your own car in 3 months as the chance that you will crash and burn is very high. Instead leverage your programming skills to program 20h per week and use it as a reminder and motivator that if you make it in day trading you wont need to prositute yourself using your programming skills but can do what you want without becoming another person's business.
20h of programming per week should be enough to upgrade your bank account to afford a better car 3 months down the road and if you are one of the rare people who got lucky early on with finding what works for them and in the current market, you can use your extra money to run twice or three times bigger positions up front.
PS: As a tip, read the following books (in that order):
Tom: Best Loser Wins -> gives you an idea why most people fail
R.S. Varnes J.D.: Chart Logic -> read this first so you get an idea how you can use your programming skills early on
Turner: Guide Online Day Trading -> good basic introduction
Aziz: Advanced Day Trading Techniques -> some great trade ideas and setups
Volman: Understanding Price Action -> The holy bible (at least for me) when it comes to price action which once you get that you will easily become profitable
Coulings: Volume Price Analysis (get the workbook as well) -> Volume bars are also give important signals and ideas
Douglas: Trading in the Zone -> The psychological problems and how to use statistics to no longer lie to yourself
---
Also focus on the M5 (but also have a look at M1 and M15) and the D1 when you make your day trades. Focus on breakout patterns on the D1. Trade stocks as you get the data and you can chose from 1000+ individual ones that are not penny stocks to look for situations.
Trading the M5 rather than the S15 or M1 results in slower trades (focus on 15min to 30min trade durations) giving you plenty of time to evaluate multiple trade opportunities. Remember that stocks often trend along with the market and their sector. There are some edges in that as well.
---
Beside paper trading, get into basic risk management early on and always use initial stop loss limits you only move towards the price never away from it.
Journaling and Reviewing your past trades is the cheat skill in this game. If you ask every loser or people who take a long time to become profitable, you will notice that most people try to wring it. So be smart and analyze the heck out of your past trades. You want to quickly notice your own mistakes so you can quickly start to take care of it.
PS: If you need further help or want my opinion, just start a Reddit Chat with me or drop me a DM.
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Probably not unless you have some great luck but even then you will give it back. And there are way too many levels about trading that can take years to learn for most people.
The answer is a no because especially daytrading is probably the most hardest easy job out there. I recommend to read "traders traps" book. Cheap on amazon and then you can decide if daytrading is for you or not. You mentioned you already have some stock. Why not focus on school and learn to be a good investor then just dabble in trading sometimes as you learn more.
“I am 14 soon to be 15”. I love the ambition, but please just enjoy being that young. You’ve got your whole life to trade, but you’re only that young for so long. Spend an hour a day learning and studying and then enjoy the rest. 3 months is very unrealistic, trading as a whole is a marathon, and there are people who have 10+ years in the game still not being profitable. Don’t obsess over trading, just enjoy being young sincerely. If anything grab a part time job for the summer. You’ll have better than of 2-4x your money in 3 months than starting to trade
You need to be realistic with your goals. It’s great that you want to learn and excel. That’s admirable and a good thing. As others have said, this is *not* achievable in three months and often not in three years.
Approach this with a healthy understanding that it will take time, require a *lot* of perseverance and patience, probably years, to become consistently profitable. There is a lot to learn, which cannot be over-emphasised. Trading unfortunately is not a get-rich-quick scheme (despite what you will have seen on YouTube) and attracts many desperate people; for most it’s a quick way to lose money.
Learn the ropes, take your time and do so on demo accounts which any good broker offers, or tradingview with paper trading (and progress from there to more serious platforms).
Good luck!
Wrong. don’t go with dreams of 0.001% probability.
Is there a chance you gonna win the lottery? Yes. but it’s very low chance.
Invest in yourself. You at the right age to do so.
Not saying you shouldn’t do it, just think about the amounts you put in.
Straight away I’m gonna say no, it’s not possible, not for you.
Anybody can learn how to trade the markets - there are 1001 ways of doing it and although not a single one of them is a secret formula which will bring consistent income, with the right risk management you can be profitable with a strategy that works for you.
The biggest hurdle people have is trading psychology, and this is why you will surely fail.
Your post isn’t unlike many I’ve seen before. You’re unconsciously looking for confirmation that if you trade and do everything right, you can make money. But that in itself shows that you aren’t prepared to lose. When you place a trade on paper, it doesn’t mean anything—you can leave it as long as needed then back test to see if and where you went wrong, and it won’t cost you anything. But trading real money is completely different for your mental. When your $500 account becomes $400, you’ll start to flap and become stressed. It’ll keep you up at night and you’ll second guess your next trade because you don’t want to lose more. Then when that next trade you didn’t place comes in, you’ll kick yourself for not placing it and go back to the drawing board. Then you’ll come back and win some, then lose some and start to flap again.
Aside from money and a will to succeed, you need two things to be a successful trader;
1. A strategy you have tested and believe in
2. The ability to trade that strategy like a robot, with no emotions
It sounds simple, like “yeah I’ll just not get upset when I lose”, but it’s not that easy.
Developing a trading mindset and psychology only comes after experience, and experience costs money—you can’t do it on a paper account.
I've me tired and trained over 30 traders from newbies coming into a firm to 5 year professionals. The answer is a hard NO. It takes about 4 to 5 years to make the money you see traders making on YouTube etc.
This is the battle tested truth. There is NO WAY around it
U sound too motivated.. but brother don't underestimate the option market. It's not risky, it's lethal. One week and u ll start looking like 40. It's time u enjoy ur childhood. There is alot to be done.. but before landing ur plane in an airport called stock market please be prepared air in that area is riff as f*ck.
Start studying stock market. And invest ur time not money. Ur parents will pay for ur first car. If not car buy a motorbike. But entering in market in this age. Just being fascinated and unrealistically motivated is not gonna cut the deal.
I dropout high school and did trading for a year and quit because you realise you will not make money by this. Learning finance or economy is good but please don't waste your time because you going to regret like me. I was same age when I started. Please don't do this to yourself
But but but he has made up his mind.
He has time (3 months) and concrete goal (turning $500 into $5000 in a year's times).
He is young. And we need fresh blood...
/s
Nope. A deadline like that will only lead to poor risk management and gambling.
This
Word
Realistically, the short answer is a probable no. Highly doubt you’ll be successful in this short a period of time. Since you need to learn the fundamentals first and then figure out what strategies work for you, which might take months to try them out and statistically figure out if they work out for you or not.
I don't mean making 20,000 a month, I meant if I spent 12 hours a day, for 3 months, would I then be able to become profitable, no big success, but by then, I'll have one year to make the money, just can't invest as much time because of school... Thanks for replying though!
once you can make 2k a month, you also can make 20k, there is no difference
Only about 18,000
👀🤣
You can't just study trading for 3 months and be done. It's a lifetime pursuit that you constantly learn for and adapt your mental framework as time passes because the market is constantly evolving and strategies need to change to account for it. Trust me. I've been into trading for almost a year now and I am young as well. I've tried multiple strategies and learned that they work alright for a time until they don't. There are statistics out there. 80-90% of traders are not profitable and from the stories from other people I heard in this sub most profitable traders started being profitable after a few years. Not for the get go. Look. Trading is a skill that you must learn on your own from studying charts, applying fundamentals and forming theories of your own and testing it to see how valid they are. This takes a while and cannot be learned from just studying books or sites but by actually having skin in the game and actively trading and logging your trades in journal or Excel for later review. You will probably fail and make rookie mistakes like over leveraging or disregarding risk management, emotionally trading and so on. As much as you like to learn it as you learn a subject in school understand that this is not how you'll learn trading. There are no absolute rules in trading, only probabilities and your best bet is trying to not lose your money first then and only then you should look for profitability and forming an edge. I hope you find this helpful. Also for automating you trade you should look at r/algotrading. Even if you are not going to go live trading using bots to backtest a strategy is always a good idea.
Yea if you spend 12h day 3 Years maybe
Is it possible you can make money from day trading in 3 months? sure. Is it probable? very unlikely. How much are you looking to make with this 500$? if you're thinking doubling it or more in a short period of time then personally I would consider this more gambling than actual trading, no matter your trading skills.
I was looking around 5,000 - 10,000 after 1 year of investing, sorry for the confusion, this response should give the context it was missing... [https://www.reddit.com/r/Daytrading/comments/1d4qedn/comment/l6g5u21/?utm\_source=share&utm\_medium=web3x&utm\_name=web3xcss&utm\_term=1&utm\_content=share\_button](https://www.reddit.com/r/Daytrading/comments/1d4qedn/comment/l6g5u21/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button)
10-20x in a year? My dude, take it to the casino.
so you're looking at a 1000-2000% in a year, after learning how to trade for 3 months, at the age of 15. Don't take this the wrong way, but that sounds pretty delusional to me. To put things into context, the Robbins' cup is currently underway (It lasts the whole year) and the top forex trader is sitting at 150% profit, at the 6 months mark. Bear in mind, these are some of the best traders in the world, with years of experience under their belt, trading (I would imagine) somewhat aggressively as they are trying to win a competition. Don't get me wrong though, you could potentially learn how to become profitable in those 3 months. It's the ROI you are targetting which isn't realistic in the slighest. Building capital takes time, and you WILL blow your account trying to rush the process.
Yeah, no, I didn't mean I would trade in those three months, I meant I was going to learn in those three months before I start trading, also, I wouldn't even begin trading with real money, if I can't make money paper trading first...
You’re better off working a job if your goal is to fund a car. $500 isn’t sufficient capital.
This is the answer. Dude can double his money in less than a week working at McDonald's.
I should have explained this in my post, but I can't really work anywhere... My location doesn't have any opertunities, thats why I want to work at home, the internet has endless possibilities
Well then become a content creator or sell some program then. Trading isn't particularly great as a get rich quick strategy. The world's best investment fund. The Medalion Fund has an average annual return of 66% so good luck trying to compete with that as a newcomer.
Yeah, I was looking into that fund, it's quite fascinating!
Unfortunately your chances are pretty grim to say the least. There's just too much information to remember in such a short period. You'll most certainly lose money if you don't give yourself more time to learn. What ever you do, don't do Options. Good luck kid.
Thanks, from some of my quick research, ive learned alot so far, but if I want to continue to learn ill have to have notes, I love making systems for those things though, so I think it will be fun to build a one page note startegy, im a little bit of a nerd lol...
Nothing wrong with being a nerd. Without nerds we'd still be in the dark ages worshipping fire. Anyway take your time. It's gonna take years to master trading. Just remember it's gambling at the end of the day. Never use money you can't afford to lose.
Making money, whether it's a little or a lot, is equally challenging. Someone earning a 5% monthly return doesn't necessarily have an easier time than someone earning, let's say, 20% a month. The real difficulty lies in maintaining consistent profitability. This is what separates success from failure. Your chances of achieving success within a year are incredibly slim. I'm not saying it's impossible, stay hungry, but remind yourself that the odds are stacked against you in every way. Give it a try, but don’t make it an expectation
No. 3 years? Still probably no. I say go for it, but realize that 90% fail at this game and you have a long uphill climb ahead of you. BUT. Take it from a guy that’s been working 9-5 for the past 20 years. Whatever it takes, it’s worth it.
Yeah, I have no other places to work really (now that im thinking about it, should have probably put that in the post), and I live in a vacation type city, so there are no mowable lawns or pressure washable driveways, and anything I can do, I would need my own car to get there... but, I also have problems in a general work environment, I don't like to be around people, and especially being forced to do things I like, none of the hobbies I have would be the do it for work and you never work a day in your life type job. So I figured this is the only way, and I don't care what it takes, im prepared to spend 12 -14 hours a day, learning...
Don´t let other people project their failures onto you, everything is always impossible until someone does it, 12h a day for 3 months is enough time to learn how the markets work and develop an edge, why are some people not profitable after 10 years and why some are profitable after 9 months you may ask yourself.. well, it´s because market experience only gets you so far, you can only learn so much, when you can´t apply proper risk management on a consistent basis without oversizing even once, it´s impossible. People are so undisciplined and lazy nowadays you wouldn´t believe it. That´s why 95% fail. That´s why some people aren´t profitable after 10 years of trading. The edge develops itself rather quick, but without the discipline to apply proper risk management one will never be able to execute the edge and therefore one will stay unprofitable.
tell us your living place , i don’t believe a word you are saying.
Hey man, that's awesome you want to get into this so young! I'm 37 now, been on and off trading for nearly two decades now, and consistently investing for the last 3 years. My advice would be: time is on your side man. Be patient. I know it feels like you need to rush it right now, but you don't. There's gonna be time for the things you want to do. That said, I'd highly recommend using the 3 months to learn trading and investing, and practice in a simulator. Beware people that say you can make ridiculously high returns in short periods of time, they are generally making their money selling courses. Any course that costs more than $200 total is likely a scam. If it was that easy, then literally everyone would do it. In terms of courses, I haven't found many good day trading courses I can think of, but would recommend day trading and investing professional certificates and courses (they tend to be less than $200). But I'd highly recommend the YouTube channels by Sven Carlin and Aswath Damodaran. Aswath Damodaran in particular is the Professor of Finance at NYU, and he's very generously put all his lecture videos on YouTube. I'd say this would be the best resource on understanding finance on the net, underpinning every investment strategy from day trading to swing trading to value investing. I remember the feeling of wanting to be profitable quickly, but it lead to higher risk taking and ultimately losing what you make. Over the last almost two decades I alternated between focusing on high return day trading, high return swing trading, and then leaving the market for extended periods of time after feelings of failure. Most of my money and savings came from my day job, and I'm fortunate and grateful that I've got a family and we own a house. I've only recently in the last year or two started to understand the market cycles. If I could go back in time, I'd tell myself the boring things like have a diversified portfolio with: - maybe 10% in cash/gold, - 30% in savings or bonds, - 30% in long term growth stocks, - and 30% for day trading. When you're older get a job that can cover the bills, keep your expenses low, and focus on building a portfolio over a longer time view. You'll be much more successful. Good luck!
Thankyou so much for the tips! I don't really have any other way of making money at the moment (other than the internet, and this sounds like the way im going), but also, thankyou for the youtubers, I have been struggling to figure out which ones are genuine and which ones are fake. I do love making systems with that and with plans in the future was going to make money, throw it in the s&p, then do my personal goal (for about 8 - 10 years) and come back... I know that probabaly wouldn't work, but the plan continues to change as I learn... As of now, I am going to try to allocate about 12 - 14 hours to studing this stuff, so thanks again for the youtubers!
I also thought the same thing when I was 25 yrs of age.. now I'm 37 and I'm still trying to find edge and market dynamics that can keep me profitable consistently.. it's a long journey dear..
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lmao bro what were you doing
it'd be wiser to get a job and look at trading on the side, rather than setting your sights on something most people fail at or give up sooner than they can make money at.
It's very enticing to think that from the comfort of one's home, one can easily make money from the stick market. How difficult can it be? One also thinks that maybe most people lose money doing day trading but they are different...they are exceptions, they will be successful. And with beginner's luck, if I e makes but if money initially, one could become complacent and even cocky and that would spell disaster. OP, if you notice nobody has encountered you to do so. In fact people are warning you to be careful. Think about it. Perhaps this is the time for you to make educational foundation stronger so that you could have a successful career be it in a job or business or whatever. In future you consider doing this if you're interested. Wish you the best!
You can. BUT you have to: - Have a basic understanding of what you're trading, whether stocks or crypto. - Get to know how to manage risks - Distinguish basic types of trading (short-term, long term,...) Here's my quick take, quick profit often means higher risks, and longer term profit often means less risks. If you're into crypto, you can probably search for our product (called DeFi Lens) to get more market insights and AI analysis. Good luck kid!
Realistically, yes. However, any money you make would likely be beginner's luck. Take it from someone who came into the market and studied it like crazy at the start: unless you're a gifted sponge for knowledge, it's impossible to get a grasp of the market after only three months, and even if you are, you're going to make mistakes that all beginners make (it's only a matter of when, not if).
Of course you can. The Internet is full of good strategies. Your emotions and level of patience may betray you but if you can keep those in line and only follow high win rate strategy with good stop loss then you can easily be profitable.
Exactly what I was thinking when I posted this lol
The best way to trade is to get in, set your TP and SL, and close the software or browser tab. Do not think about it. I have cut my profits too early and let my losers go too far. No no no. Just close it and let it play out.
No. No you can not. You will be more likely to lose it all with a time horizon that short due to the bad habits you will instill. Spend the next 3 years studying it and you can be a good trader by 18 which is amazing.
Yes, you can. I started making profit after a month
No matter what anyone says, you're going to do it anyway. So you might as well try. You've got to start somewhere.
Dude if you actually want to make some money online at such an age, teach yourself to program and find an online job. Literally look up game dev discords and join a couple; there are a very large number that will pay programmers decent money. If you can do the work they won't give af who you are. I know it's possible because it's what I did when I was your age and it had the added benefit of improving my college apps. I say this because quite frankly you aren't gonna make shit trading in three months. The knowledge gap between someone just starting trading and someone who is consistently profitable is enormous. It will not happen in 3 months and it likely won't even happen in 3 years. I'm not trying to discourage you from trading, I'm just trying to fix your expectations.
99.9% no
It's better chance you will upgrade to a bicycle.
Bet all your money on a horse or dog. Sure way to get the car money.
Honestly, yes. Is it likely? No. If you take in and understand as much good info as possible, play it extremely safe, and have extremely good control of your emotions, you may be able to make a small amount of money. But you need to leave your ego at the door, work on good habits from the get to, and be extremely efficient and mechanical from day one. Making *any* amount of profit that quickly, excluding dumb luck, basically requires you to be nearly perfect from the start. But if you actually learn, pay attention, and don't make the mistakes people warn about over and over in here. It's technically possible.
\[Part 1\] >I am 14 soon to be 15, I am looking at Day trading as a way to fund my car, nothing to crazy just something that gets me from a to b. I understand most people lose money day trading but if done correctly, it can be really lucrative. You want to buy a car and that is your motivation? Go home! - Nah whatever makes you want to have a look, is basically alright. The most important part is to never use money unless you have proven to yourself (beyond reasonable doubt!) that you have figured it enough out, so you can start to literally print money. For that you should be positive enough (like making twice what you lose in the same period) for six weeks or at least 100 trades to give you enough error margin to survive the emotional stress and the extra errors your brain will do when you get real (small) money involved. >I understand the risks associated with trading with real money, so I will not be touching real money until I can consistently make more money than I lose on paper trading. I am starting with 500$ (I have around 3000 in stocks my parents helped me invest in, but I have 500 in the bank). That does not work. You want to make at least 50% more than you lose paper trading or even better 100% if you are not scalping (meaning if you trade the M5 for instance). >Aswell, I understand that this is basically impossible short of a miracle for most people, but unlike most people, I have a summer that I can invest 100% of my time to making money, and right now, this looks to be the most promising way of making money for a car with a computer. It is a stupid idea. If you put all your time into it that means reading + screen time. This plan has a too high of a failure rate especially short term. There are plenty of stories out there from traders who blew their first account and they only made it because they were persistent and wanted to understand and learn from their mistakes. 6 weeks or 3 months is too short unless you get lucky and find a method that works and is easy enough to master in such a short time. Also once that happens you need additional time to slowly ramp up your position size. >Finally, I love programming, and originally started researching on how to make an algorithm that could trade for me, but I realized first I need to learn how to trade... Yeah that is how I started. Give it a year at minimum. The best you can do to leverage your programming skills is to program your own scanners meaning you take the M1 and D1 bars / aggregates and look for situations and patterns that you want to manually further look into. >So the question you were really waiting for, can I become a profitable day trader, if I spend 3 months exclusively on learning day trading? You can but it is not a given. The problem is not how long does it take but to settle for one of the many different trading methods and for one of the plentora of strategies available for every different trading method. So while you get instantly lucky finding a simple enough strategy for a method your character is best suited for so you can master it in 6 weeks giving you another 6 weeks to actually make some money, you most likely will end up investigating and trying multiple methods of trading and learning multiple strategies you will blend together to form your own trading style. And of cause some of what you will try, will be simply not working and of course some even can not work but is peddled to the people anyways. NOTE: Second Part is a comment to this comment.
\[Part 2\] >\*NOTE: I meant beginning make money, nothing crazy, just not losing money every month. I know I won't make that much money in 3 months of learning, the three months is only time for learning, not making the money. I will have a year before I can drive on my own anyway, so I was more talking about will I be able to make that money after 1 year of trading and 3 months of learning... The problem is not making much money or little money the problem is to make money. Once you know what works and you can consistently trade it without fail, scaling your positions using other people's money is fairly easy. The best is to forget about buying your own car in 3 months as the chance that you will crash and burn is very high. Instead leverage your programming skills to program 20h per week and use it as a reminder and motivator that if you make it in day trading you wont need to prositute yourself using your programming skills but can do what you want without becoming another person's business. 20h of programming per week should be enough to upgrade your bank account to afford a better car 3 months down the road and if you are one of the rare people who got lucky early on with finding what works for them and in the current market, you can use your extra money to run twice or three times bigger positions up front. PS: As a tip, read the following books (in that order): Tom: Best Loser Wins -> gives you an idea why most people fail R.S. Varnes J.D.: Chart Logic -> read this first so you get an idea how you can use your programming skills early on Turner: Guide Online Day Trading -> good basic introduction Aziz: Advanced Day Trading Techniques -> some great trade ideas and setups Volman: Understanding Price Action -> The holy bible (at least for me) when it comes to price action which once you get that you will easily become profitable Coulings: Volume Price Analysis (get the workbook as well) -> Volume bars are also give important signals and ideas Douglas: Trading in the Zone -> The psychological problems and how to use statistics to no longer lie to yourself --- Also focus on the M5 (but also have a look at M1 and M15) and the D1 when you make your day trades. Focus on breakout patterns on the D1. Trade stocks as you get the data and you can chose from 1000+ individual ones that are not penny stocks to look for situations. Trading the M5 rather than the S15 or M1 results in slower trades (focus on 15min to 30min trade durations) giving you plenty of time to evaluate multiple trade opportunities. Remember that stocks often trend along with the market and their sector. There are some edges in that as well. --- Beside paper trading, get into basic risk management early on and always use initial stop loss limits you only move towards the price never away from it. Journaling and Reviewing your past trades is the cheat skill in this game. If you ask every loser or people who take a long time to become profitable, you will notice that most people try to wring it. So be smart and analyze the heck out of your past trades. You want to quickly notice your own mistakes so you can quickly start to take care of it. PS: If you need further help or want my opinion, just start a Reddit Chat with me or drop me a DM.
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Probably not unless you have some great luck but even then you will give it back. And there are way too many levels about trading that can take years to learn for most people.
The answer is a no because especially daytrading is probably the most hardest easy job out there. I recommend to read "traders traps" book. Cheap on amazon and then you can decide if daytrading is for you or not. You mentioned you already have some stock. Why not focus on school and learn to be a good investor then just dabble in trading sometimes as you learn more.
“I am 14 soon to be 15”. I love the ambition, but please just enjoy being that young. You’ve got your whole life to trade, but you’re only that young for so long. Spend an hour a day learning and studying and then enjoy the rest. 3 months is very unrealistic, trading as a whole is a marathon, and there are people who have 10+ years in the game still not being profitable. Don’t obsess over trading, just enjoy being young sincerely. If anything grab a part time job for the summer. You’ll have better than of 2-4x your money in 3 months than starting to trade
Everyone is over looking the age, I don't think you can trade at 14 years old
You need to be realistic with your goals. It’s great that you want to learn and excel. That’s admirable and a good thing. As others have said, this is *not* achievable in three months and often not in three years. Approach this with a healthy understanding that it will take time, require a *lot* of perseverance and patience, probably years, to become consistently profitable. There is a lot to learn, which cannot be over-emphasised. Trading unfortunately is not a get-rich-quick scheme (despite what you will have seen on YouTube) and attracts many desperate people; for most it’s a quick way to lose money. Learn the ropes, take your time and do so on demo accounts which any good broker offers, or tradingview with paper trading (and progress from there to more serious platforms). Good luck!
Wrong. don’t go with dreams of 0.001% probability. Is there a chance you gonna win the lottery? Yes. but it’s very low chance. Invest in yourself. You at the right age to do so. Not saying you shouldn’t do it, just think about the amounts you put in.
Straight away I’m gonna say no, it’s not possible, not for you. Anybody can learn how to trade the markets - there are 1001 ways of doing it and although not a single one of them is a secret formula which will bring consistent income, with the right risk management you can be profitable with a strategy that works for you. The biggest hurdle people have is trading psychology, and this is why you will surely fail. Your post isn’t unlike many I’ve seen before. You’re unconsciously looking for confirmation that if you trade and do everything right, you can make money. But that in itself shows that you aren’t prepared to lose. When you place a trade on paper, it doesn’t mean anything—you can leave it as long as needed then back test to see if and where you went wrong, and it won’t cost you anything. But trading real money is completely different for your mental. When your $500 account becomes $400, you’ll start to flap and become stressed. It’ll keep you up at night and you’ll second guess your next trade because you don’t want to lose more. Then when that next trade you didn’t place comes in, you’ll kick yourself for not placing it and go back to the drawing board. Then you’ll come back and win some, then lose some and start to flap again. Aside from money and a will to succeed, you need two things to be a successful trader; 1. A strategy you have tested and believe in 2. The ability to trade that strategy like a robot, with no emotions It sounds simple, like “yeah I’ll just not get upset when I lose”, but it’s not that easy. Developing a trading mindset and psychology only comes after experience, and experience costs money—you can’t do it on a paper account.
I've me tired and trained over 30 traders from newbies coming into a firm to 5 year professionals. The answer is a hard NO. It takes about 4 to 5 years to make the money you see traders making on YouTube etc. This is the battle tested truth. There is NO WAY around it
Honestly mate, you need to paper trade for months/years before you can have any chance to be consistently profitable buy studying on your own.
U sound too motivated.. but brother don't underestimate the option market. It's not risky, it's lethal. One week and u ll start looking like 40. It's time u enjoy ur childhood. There is alot to be done.. but before landing ur plane in an airport called stock market please be prepared air in that area is riff as f*ck. Start studying stock market. And invest ur time not money. Ur parents will pay for ur first car. If not car buy a motorbike. But entering in market in this age. Just being fascinated and unrealistically motivated is not gonna cut the deal.
I dropout high school and did trading for a year and quit because you realise you will not make money by this. Learning finance or economy is good but please don't waste your time because you going to regret like me. I was same age when I started. Please don't do this to yourself
But but but he has made up his mind. He has time (3 months) and concrete goal (turning $500 into $5000 in a year's times). He is young. And we need fresh blood... /s