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Tell me about trading day stocks

Is it a scam? My not so bright partner has now been roped into this and he seems to be addicted to it. Previously, he got roped into starting a drop ship business, paid several hundred dollars for “classes,” and then gave up on it because it was “too much work.“

Now he seems to have been roped into day trading, and I’m just praying to God that he’s not taking money out of his long-term investments for this bullshit. Over the past couple of days, he was asking to borrow $50,000 from me.

by Anonymousreply 12November 9, 2024 5:13 PM

OP, how much money has he made (or lost)?

by Anonymousreply 1November 9, 2024 3:47 AM

So "roped" into once more and Beetlejuice will appear.

by Anonymousreply 2November 9, 2024 3:50 AM

If he's asking to borrow 50k, i think its safe to assume he's losing his shirt.

OP: Time to punch and delete, before he loses your shirt.

by Anonymousreply 3November 9, 2024 3:51 AM

I got roped into trading day stocks once....

Eggs, BLTs, turkey sandwiches.

Just don't get roped into trading night stocks. Like, whiskey, pajamas, moons, etc.

by Anonymousreply 4November 9, 2024 3:54 AM

It's gambling. Maybe he'll get lucky. Eventually, his luck will run out.

by Anonymousreply 5November 9, 2024 5:06 AM

For the VAST majority of people, day trading scratches the same itch as gambling.

by Anonymousreply 6November 9, 2024 5:34 AM

Bump

by Anonymousreply 7November 9, 2024 4:20 PM

It’s called day trading.

What to know:

- it’s highly speculative. It takes one bad call to wipe out a portion of your money. - you get walloped with capital gains tax. See below.

This capital gain is taxed differently depending on how long you hold the capital asset. If you held it for less than a year, your gain may be taxed upwards of 37%. If you held it for over a year, your rate may be less than 15% (and even 0% in some cases).

by Anonymousreply 8November 9, 2024 4:30 PM

It's essentially gambling. How does one get "roped into" it?

by Anonymousreply 9November 9, 2024 4:30 PM

A friend of mine told me her sister made 100k in one month.

by Anonymousreply 10November 9, 2024 4:54 PM

A friend of MINE told me her sister lost 100k in one month.

by Anonymousreply 11November 9, 2024 5:02 PM

I told a friend my sister made 100k in a month. And I don't even have a sister.

by Anonymousreply 12November 9, 2024 5:13 PM
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