Day Trading Highs and Lows: A Nerdy Guide to Calculating Risk

NerdWallet's Smart Money Podcast

NerdWallet Personal Finance

Business, Education, Investing, How To

4.2 • 665 Ratings

🗓️ 10 August 2023

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Get an inside look into strategies and pitfalls of the high-risk, high-reward world of day trading. Hosts Sean Pyles and Andy Rosen discuss the high-stakes world of day trading and shed some light on your statistical chances of finding success. Then, Andy welcomes seasoned traders Sierra Smith and Michael Sincere to the podcast to share their perspectives. They pull back the curtain on Sierra's typical trading morning, break down concepts like options trading, and highlight the rollercoaster ride of market highs and lows. They also discuss the profound role of social media in day trading, the importance of discipline and emotional control, and the potential pitfalls and real challenges in day trading. Drawing from their personal experiences, they shed light on how they’ve learned to take profits quickly, prevent losses from spiraling, and maintain a realistic perspective on potential returns. In this conversation, you’ll hear about: day trading; options trading; market highs and lows; social media influencers; emotional control; cashing out; taking profits and alleviating losses; researching the stock market; and understanding and making money. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected]. Like what you hear? Please leave us a review and tell a friend. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Prime Video brings thrilling entertainment.
0:03.0	Watch Heavyweight Detective Breacher, Season 3 included with Prime.
0:07.0	Exactly how much danger is this job putting me in.
0:10.0	Treat yourself to the lovably chaotic Bridget Jones mad about the boy available to buy.
0:15.0	Did you have sex? Did you have sex?
0:17.0	Did you have sex last night?
0:19.0	Yes! And it was amazing!
0:23.0	Whatever you're into, it's right here.
0:25.3	Prime Video.
0:27.1	Click or tap the banner to find out more.
0:30.1	There was a time back, oh, about 30 years ago,
0:33.8	when headlines were filled with stories about people using newfangled technology to trade
0:38.2	stocks minute by minute from the comfort of their couches. Today, you can trade almost second by second,
0:44.4	but that doesn't mean it's a good idea. In the beginning, it's definitely not all sunshine
0:49.3	rainbow. When you make mistakes in trading, those are very expensive mistakes that you are making,
0:54.0	especially when you're doing day training with options. It's very volatile, so it's very much high-risk,
0:59.8	high reward.
1:16.4	Welcome to Nerd Wallet's Smart Money podcast. I'm Sean Piles.
1:19.1	And I'm Andy Newfangled Rosen.
1:24.3	Today we have episode two of our nerdy deep dive into next level investing.
1:28.4	And Andy, let's just start out with the caution we mentioned last episode, which is that here on smart money, we still think the vast majority of people will have more
1:34.4	success with very basic investing strategies, like using the buy and hold strategy, investing for
	...

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