#Day trading stocks how to#
They read like a cocktail party conversation, only talking about their winners, sharing carefully crafted screenshots demonstrating success, inspiring Fear of Missing Out (FOMO) while using carefully crafted disclaimers to try to absolve themselves of moral responsibility for the acts of their readers (“Statistically speaking, you will more than likely lose money doing this, and could lose all of your working capital.”) Even the WCI Facebook Group has people advocating for not only individual stock investing, but day trading those stocks and asking fellow WCI group members how to day trade. Some of the latest ones are no longer doling out sensible financial advice, but are instead advocating picking stocks and day trading.
Over the years there have been at least 100. They have an upcoming IPO, so soon you can buy Robinhood at Robinhood! I'm even getting calls from friends who have never had any interest whatsoever in investing asking me about how they can trade stocks and what I think of Robinhood. Robinhood alone opened 3 million new accounts in the first quarter of 2020. Some of the newer brokerages aiming to make trading fun, exciting, and accessible (I'm looking at you Robinhood, Thinkorswim, and Webull) are not helping the cause either. Maybe it's also due to the fact that many casinos were forced to close for the pandemic.
Perhaps the prominence, name recognition and outperformance of the large, well-known growth stocks (FAANG, Tesla Zoom etc) is drawing people in. Part of it likely comes from a volatile stock market in 2020 and lots of people sitting at home with extra time due to the COVID pandemic worried about their incomes.
I suspect part of it is fueled by the huge stock market gains of 2019.
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