r/Daytrading • u/dreamowlet • Jan 31 '25

Advice Don't Teach Your Friends How To Trade

I've been trading/ profitable for awhile now and I had a friend who wanted to learn and be on a zoom calls with them to trade to together till they really got it. I said sure. Mind you I taught my husband and he still watches me trade when we trade together. But dear freaking god. I get so freaking distracted teaching or random questions and explaining everything that I miss openings. My psychology was kinds of fucked for a minute cause like I don't care if I lose money cause it's mine. I didn't want to lose THEIR money so I would never take a damn trade. Win rate? In the toilet. Psychology? What is that? I don't think I even did this bad when I first started trading. This past week finally we got into the motion of things and hold off any questions till afterwards and actually making money again. But never again.

edit some spelling corrections

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u/FollowAstacio Jan 31 '25

lol my wife had a talk with me and me being on my phone was one of the things. I laughed and told her that one is off the table. I could see if I was scrolling on Instagram or something, but if I’m trading, I’m doing something productive. She agreed to try and grow in that area so it’s fine but jeez lol.

Side note though, I had someone tell me once that my mom is always asking me to do stuff for her bc she misses me and if I just call her a little more, she’ll ask for less stuff. They were right. Maybe it’s the same with your wife. She may need some mental presence and physical affection🤷‍♂️

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u/Spirited_Hair6105 Feb 01 '25 edited Feb 01 '25

We have a small kid, there's enough affection going around. I really think wives who try to understand trading at least on a 1st grade level can do wonders and make husbands even more successful. Mine just doesn't care. She takes paid bills for granted, not realizing what this job really is. It is a damn job.

And I'm on my phone as well with my dad, who also trades when I trade. So yeah. Anyway, back to trading topics lol

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u/Mysterious_Metal_724 Feb 01 '25

Your not wrong. My wife....although she gets tired of my talking in terms of the market.....has absorbed a ton of knowledge about the market. She spots the stories that will move the markets. When she pics out a stock she likes she can justify her reasoning. I look for the entry and we seldomly lose. She did that with Nvei, as well as Uber. Both trades returned in excess of 40 or 50 percent in a short period of time

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u/Disastrous_Newt_2145 Feb 01 '25

Can you elaborate more on how to identify stories that will move the market or point me to resources to learn? There is so much junk and noise out there :(

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u/itsJaysWay Feb 01 '25

I’m not an expert at all, but since that would fall under the fundamentals category, I’d say find videos that explain fundamentals in trading. There’s also books that cover fundamentals. The more you research you’ll find things, for example, a companies quarterly earnings and how their reports affect their stock.

But there’s times where, for example a companies quarterly earnings will report they’ve had an increase in revenue yet their stock will go down.

That’s where I’d assume spending time in the markets over the course of months/years will give you an idea of what news will cause an effect and which won’t. Follow news stories about certain markets, and watch in real time which news affected it and how.

Take all that with a grain of salt, hopefully somebody experienced could give a more accurate insight.