I have no background for this sort of thing; I'm blue collar to the bone. I do have disposable income that might be put to better use than "burning a hole in my pocket", so to speak.
Then focus on teaching yourself to read financial statements (income statement, balance sheet, statement of cash flow) and learn to do comparative analysis to other similar types of companies. Day trading is like gaming the market and takes a lot of time trying to identify very short-term trends that you can exploit by timing the trades correctly. This is not easily achieved. The more reliable method is to invest in the market over the long-term by identifying financially strong companies that are undervalued and have a competitive advantage when compared to their competitors.
The institutional investors tend to look for returns over shorter time periods, like months and quarters, because they have to show that their investors that they made a profit during a trading period. Your advantage as a retail investor is that you can have a longer investment horizon than those people. The professional wall streeters and the AI trading-boxes win the short-term game.
Thanks. Yes, I was planning on most of my portfolio to be based on those "safe" long term investments, occasionally pumping money into something that I personally think might make a good short-term turnaround (if not, c'est la vie and wait until it's not a loss). Serious day-trading is not in my cards.
Thanks for your time Worf.
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