Home › Forums › Decaffeinated Coffee › Frum daytraders
- This topic has 12 replies, 10 voices, and was last updated 1 year, 1 month ago by Always_Ask_Questions.
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April 4, 2017 8:37 am at 8:37 am #1249553BigGolemParticipant
Anyone here know of any Frum daytraders, or maybe you’re one yourself. I’m trying to connect with such people but they’re not easy to find.
April 4, 2017 2:11 pm at 2:11 pm #1249974BigGolemParticipantno one?
September 13, 2023 5:08 pm at 5:08 pm #2225416chulinParticipantStill no one?
September 13, 2023 6:16 pm at 6:16 pm #2225470ujmParticipantIt depends on how you define frum. Is it enough for a daytrader to be wearing a yarmulka when betting on the market to be considered frum? Or are the requirements greater than that?
September 13, 2023 11:12 pm at 11:12 pm #2225490MarxistParticipantI know a frum quant.
September 13, 2023 11:12 pm at 11:12 pm #2225489SQUARE_ROOTParticipantDay Trading is great — if you want to lose lots of money very quickly.
Unless you are a special genius with a 165 IQ and a photographic memory, who graduated in the top 10% of his class from: MIT or Princeton or Yale or Harvard, and you worked your way through school by teaching Maxwell’s Equations and Analysis of Variance, I would NEVER CONSIDER Day Trading — not even for one minute.
September 13, 2023 11:12 pm at 11:12 pm #2225494Always_Ask_QuestionsParticipantIs day trading karov to gambling? You are either a fool or a thief, and posul miedut?
September 13, 2023 11:12 pm at 11:12 pm #2225496GadolhadorahParticipantProbably because frum yidden are too smart to deliberately engage in a demonstrated money-losing activity. You have better chance of making money at a Casino. SEC studies show the vast majority of day traders lose money.
September 14, 2023 7:48 am at 7:48 am #2225576Always_Ask_QuestionsParticipantIt is an observation errr that one needs maxwell equations to trade. Simply, at some point physics phds had no path to productive employment and wall street started exploring numerical simulations instead of classical formulae. So having Monte Carlo methods on your resume allowed these physicists to ruin economy by their ignorance of economy. You would be better off knowing a specific industry, statistics, machine learning, finance, psychology, sociology and how to daven.
At the end, this is a marginally productive activity, yes efficient markets help society, but there are many other jobs that will have positive impact on Hashem’s world 🌎
September 14, 2023 1:05 pm at 1:05 pm #2225615Yserbius123ParticipantMaking consistent profit day trading was only possible for a brief period in the late 90s and early 2000s. It was then when people had high speed internet access and services to trade with minimal cost, but before algorithms cornered the market. Right now, if you think you have a good tip on a stock that’s going to rise in a few hours, guaranteed there’s a bank of computers somewhere that figured it out before you and is already trading massive quantities of that stock so by the time you click “Purchase order” the price has risen significantly.
September 14, 2023 1:10 pm at 1:10 pm #2225618MarxistParticipantActually, come to think of it I know two frum quants, one who is working and one who retired from it.
September 14, 2023 1:13 pm at 1:13 pm #2225637commonsaychelParticipant” Still no one?” try again in six year
September 14, 2023 4:58 pm at 4:58 pm #2225699Ex-CTLawyerParticipant@Yeserbius
You are absolutely CORRECT.
The time for individual day trading is long gone.
The computer initiated trades move the market.Our Trust administration department handles more than $75million for clients. From 1995 to 2003 we had two full time day traders providing great returns. Then the dynamics changed and we could not realize those gains and had to change the investment strategy
September 14, 2023 7:08 pm at 7:08 pm #2225737Always_Ask_QuestionsParticipantCtl, you are sitting on great information: what are typical successful people these days and decades earlier?
September 14, 2023 8:20 pm at 8:20 pm #2225740Always_Ask_QuestionsParticipantYou shouldn’t say that you can’t succeed, as it says: if someone says I didn’t work and succeeded, don’t believe him. Extra competitive market establishes a baseline, so if you have an extra insight, coming more from wisdom than obvious daily numbers, try small or virtually without actual trades and see if your strategy works.
September 14, 2023 8:20 pm at 8:20 pm #2225742Always_Ask_QuestionsParticipantPeople half joke about buying a lottery ticket to give Hashem a kli to support a tzaddik without an open nes. Day trading is even better
September 14, 2023 8:20 pm at 8:20 pm #2225747GadolhadorahParticipantSome old-timers may remember the king of the day-traders during the internet stock frenzy of the late 1990s who went by the nickname of Tokyo Joe (R’ Yosef’s second cousin from Japan). Thousands of young day-traders were paying him hundreds of dollars a month to share his trading tips. He was subsequently charged by the SEC with failure to register as an investment advisor and building up a position in some small market cap stocks and then dumping his position simultaneously with hyping them for his chassidim. There are still some legit advisory services like Motley Fool, but they generally focus on “longer-term” (aka more than an hour or two) positions and also have good research staff backing up their recommendations.
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