How would you make money ?

[ShadowHM]

Instead of buying stocks as a long term investment (1,2,3 ..years),wouldn't it be better to buy and resell the stocks on the same day/week ? I know someone who makes money by buying stocks in the morning and then reselling on the same day, stocks worth thousands dollars;he told me that he could earn thousands dollars each month by buying and reselling stocks,still I don't know if tells me the truth.~Abramelin~
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Chiming in on the topic:

I am acquainted with one fellow who does this. (I don't know him well; he is the parent of some competitive swimmers who I met while helping organize meets for my competitive swimmer.)

He actually does make money doing this.

But I would like to emphasize that he is well connected (as in knowing many other day traders, frequenting their chat rooms, etc. He has been doing this a long time, so he knows how to separate the wheat from the chaff - kinda like participating here. If PatrickA posts about a game mechanic and adeyke does too, we know which to believe, eh?).

Further, he has a greater monetary base to do it from than Abramelin will have. When you have a bigger pot, you can withstand the ups and downs of bad calls much more easily than when you have only $50,000 to do it from.


Lastly, this is his 'job'. He spends from 6 to 8 hours a day on it to be able to get the results he does.


My point is that, while it is possible to make decent money doing this, the circumstances described by Abramelin do not fit the description of the only person I know who has managed it.