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r/Daytrading

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r/DayTrading's Monthly Questions Thread - April 2024

New and have questions? Read our Getting Started Wiki and join the Discord!

First, welcome to the community! We know day trading can be an exciting proposition and you’re eager to get started. But take a step back, read this post, learn from the free resources we have available and ask good questions! This will put you on a better path to being successful; but make no mistake - it is an extremely hard and difficult one.

Keep in mind this community is for serious traders wanting to learn and talk with fellow traders. Memes, jokes and loss/gain porn is not allowed. Please take 60 seconds to read the sub rules.

Getting Started

If you’re looking where to start and don’t know much about day trading, please read our Getting Started Wiki. It has the answers to so many common questions and links to other great resources and posts by fellow community members.

Questions are welcome, but please use the search first. Chances are it has been asked and answered - we can’t tell you how many times the same basic questions are asked. Learning to help yourself is a great skill to have for trading!

Discord

We also have an awesome and active Discord server for the community! Want a quick question answered or a more fluid conversation about trading? This is the place to be!

The server also has a few nice features to help make your morning go smoother:

  1. Daily posting of a news watchlist

  2. A list of the most popular symbols traders are talking about

  3. The weekly Earnings Whispers’ watchlist

  4. Commands to call up charts on demand

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Again, welcome to the community!


Whenever the Market looks choppy or confusing Whenever the Market looks choppy or confusing
Advice

Whenever the market is looking choppy, confusing or stupid stay away from the market until it makes sense to you.

You wouldn’t take a test you didn’t study for, so why would you take a trade that looks confusing. You will fail the test in most cases.

It’s all about patience. I’m not saying you’ll win every time you wait but why take a random loss. Keep your money and trade another day.