Because I was sitting on about 220k in cash I decided to look into other ways to put my money to use. I realized I could probably buy massive positions in large cap stocks and scalp small 20 to 50 cents moves that happen all the time and make about $100-$300 on each trade fairly quickly.
What has also helped kicked this off for me was 0 commissions on trades. Before I would have to pay like 7 bucks per trade and even though I can still profit it’s amazing how that small cost each time created resistance in my mind.
Since March, I’ve had $12540 in winning trades and -$4476 in losses, for a total profit of $8063.77, however, probably like 90% of that has been made in the past month alone since I started out cautiously with small trades to see how my win/loss ratio was, and in the past week alone I made a $2620 profit. I am now making bigger trades with $100k+ size positions. On top of that, I’ve already reinvested my $220k cash into long term holdings so I borrow that $100k from my broker (I only have to pay interest if I hold overnight which I never do), this gives me the best of both worlds.
To be honest it all seems too easy. If I just make about $400 dollars profit a day, which is like maybe 2 or 3 successful trades, 5 days a week, that’s $2000k a week, about $96k a year, for something that only takes an hour of my time (I only focus on the first hour the market opens)
For now, I just keep reinvesting these profits into buying more stocks and as my account builds more capital I’ll feel comfortable gradually increasing my position size for day trades to make either quicker more successful trades off of smaller spreads or more profitable ones with the same size spread. We’ll see.
I don’t talk about this because no one would believe it and all the advice I find out there is stuff like “it works until it doesn’t” or “you’ll lose it all...” etc. Fuck it. When I die put my money in the grave.