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Best day trading options for 18-year-old

Ok, I googled it, looks like that requirement has been removed. Looks like my $50 robinhood account (Now at $43 or so, yay me LOL) is about to start trading daily! Wish I would have known that before my netflix chunk went down so much.
 
OK OK, This is all kind of rationally where I thought I was, including the lose it in a week scenario. Interestingly we do have Fidelity accounts, so I will look more into what we already use. Thanks for tips!
 
cheez said:
Robinhood is very easy to use. Fidelity gives you the most clarity and tooling IMO. Maybe start on the Investopedia simulator and see who wins before risking real $?
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I will definitely check out the Investopedia simulator and I’m glad to hear another vote for Fidelity.
 
I also use fidelity. Not a day trader but have my retirement & brokerage with them.
 
two wheel tramp said:
I also use fidelity. Not a day trader but have my retirement & brokerage with them.
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May I inquire if you are happy with their results for you? If you choose not to reply I totally understand. SWMBO and I converted two 401k's that she had (and I neglected to convert to IRAs) with them in April. We also condensed a couple of other smaller accounts, bringing them into the fold. A cash holding we had at StarOne earning 3.6% or so was also rolled in, separately. We will meet with them in October, at which time we will decide "should I stay or should I go" (The Clash). I am happy with the return on the cash, it is handily beating what we would have realized at StarOne, at roughly 7%. Frankly I am a bit confused with the overall return, which I will have them detail in our meeting. .83%-ish fee still doesn't sit well with this cheap Englishman. We shall see...... I am astounded by the number of investment vehicles they have us in. I asked the FA about churn and fees, and they reverse them, apparently. Hmm...

I laughed when she ran the Monte Carlo and told us where we may be when we curl our toes up. She told me that we need to be very careful with tax strategies so our son (sole heir) doesn't have a monstrous tax bill. I told her that IDGAF, we are dead, he is rich, and Uncle Sam is happy. What a joke. :ROFLMAO::deadhorse:deadhorse:deadhorse
 
He’s a schemer so should fit into the market nicely. Sounds like he has paid some attention to what you’re doing Lucy, definitely more market aware than I was at 18, or 30. Most of fail at stuff and pick the bike up and throttle on. I offered a friend’s 10 year old daughter x shares of Apple’s stock value on her birthdate, mostly to pique her interest. She’s 21 now and fortunately for my bank account hasn’t ask for the $.
No suggestions just like the idea.
 
Bubba_s said:
Google said it was $25k before it was voided, so you are/were correct sir.
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I was thinking, holy shit this is crazy giving a kid twenty five large to play with, not to mention the ongoing funding needed every time the account drops below the minimum. It's kind of cool they got rid of that rule, though I'm really surprised they did. Seems like a greed-driven injection of volatility, but removing guardrails for responsible investing usually works out well..
 
My son isn't a day trader, he's a student, but he's going to business school and the students have talked amongst themselves about which stocks are better to buy than others.
The problem with day trading is that you're competing with big corporations who respond in less than 10ms to changes in stocks according to formula's. announcements would be a bit different, but they have people who would react to them within a minute or less from when the announcement goes out.
I built a day trader app for a client, years ago, where he could put in formula's for individual stock movements and the reaction time was about 20ms while monitoring 500 stocks.
 
Wouldn't it be unbelievable if you could pay some insider a large sum of money to openly and "legally??" get private access to important news and policy that would influence stocks BEFORE they were publicly announced?!?!

Nevermind , that sounds as illegal as all hell.

Oh wait it 2026
 
I’ve worked with a few people who tried day trading. Didn’t work out for any of them despite their claims of killing it, and that was during a bull market.
Lots of hopes and dreams that couldn’t be converted to cash.
 
can you hit that squirrel at a 100 yards with a long bow, if so then day trading may get you squirrel meat, if not then lots of arrows down range.
 
Mike95060 said:
This seems relevant. I'm not trying to throw any kind of shade but, we should acknowledge that the financial world is changing and we should be aware of it.

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This guy’s screaming voice makes me want to shove hot pokers in my ears! but I’m glad to have some words to talk about gambling in prediction markets using sites like Kalshi vs traditional market investments.
 
Lucytriple said:
This guy’s screaming voice makes me want to shove hot pokers in my ears! but I’m glad to have some words to talk about gambling in prediction markets using sites like Kalshi vs traditional market investments.
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Vocal preferences aside, coffiezilla is kind of a beast of a YouTube investigator. He’s uncovered some pretty crazy shit. I think he’s pretty legit with the stuff he puts out.
I would say to check out some of his other stuff but, I sounds like you wouldn’t enjoy it :laughing

Maybe a playback speed of x.75 would help?
 
Blankpage said:
I’ve worked with a few people who tried day trading. Didn’t work out for any of them despite their claims of killing it, and that was during a bull market.
Lots of hopes and dreams that couldn’t be converted to cash.
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I agree that day trading will be a lot of work with little to show in the end but in the broader sense investing in blue chip stocks and keeping them is a great idea for any young person.

Or just get into an S&P 500 Admiralty fund or something similar.

But get started NOW.
 
It's probably worth checking a bit further, but from the little bit of research I've been able to do it seems that only 10-15% of day traders come out ahead after a full year. Not great odds.

I knew a guy years ago who was claiming big profits doing day trading. In fact, when I talked to him about it I was thinking "I wish I knew how to do that". Turns out I did know how to do what he was doing, which was running a Ponzi scheme - I'm just not willing to do things like that. He ended up costing his investors $40M and spent a few years in jail, along with another person I knew who got sucked into it at the beginning, when he thought it was legitimate.

I do only long term investing and it has worked out well for me.
 
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