 This is not a joke. What's up money geeks, Mr. V here, welcome to another video guys. So to this video, I want to tell you guys, or share with you guys my experience for the past month and a half I have been dabbling with day trading. Close to about two months, I've actually been playing around with day trading. So I want to share with you guys my experience, what I learned that kind of going through the process. I talked about personal finance, how to save money, earn money, invest money, how to grow your wealth. So, you know, I've been looking at other ways in which I can continue to grow my wealth. So one of those was day trading. So I'm looking at the opportunity to be able to maybe go in there first thing in the morning like when the market's open from pre-market from like 8 to 8.30 or from 8 to 9 and then I can stop and go about my business and go to work and do my 9 to 5 until I can make enough money to the point where I can take over my 9 to 5 job. So I started doing some research and just looking and I really wanted to keep it as simple as possible. You know when you say you get paralysis by analysis that you learn so much information to the point where you can't even put that information to work. So I wanted to avoid all of that. So what I did is I set it with the basics like I just want to be able to buy a stock and turn it around and quickly sell it. So the first thing is which platform do I want to do that on? So I've been using Robinhood for a long time when they first came out even before they started. They sent out emails for people to sign up. I was one of the people that signed up and got access to the platform so I've been using it from the very beginning. So I said hey I want to use Robinhood and really see just get my hands wet with kind of day trading. And then it goes like hey how much do you need to start day trading? There wasn't any amount. If you really wanted to do active day trading where you buy and sell on a daily basis you'd need at least $25,000 in your account. There's something called a patent day trader. So PDT if you are under $25,000 they'll flag you as a PDT person and then what to do is they'll block your account from day trading for I think 90 days which is ridiculous. So they always say like hey only people that have enough money can do day trading which in my opinion is ridiculous. So I had to money it in the account. So what I did is I did what's called swing trading to start with. So I would buy a stock like tonight or buy a stock today and then sleep overnight with that stock and then sell it the next day with the anticipation that hopefully the next day that stock would go up. And so that was my thinking and so I'll look at my strategy was I'll look at companies that had their earnings after the market closed. So I would look at if there's positive news about that company and then I'll buy the stock towards the end of the day then listen to their any call after the market closed. And if there's good news then tomorrow you know that that stock is going to go up and then I can sell it and get out and then use that money to buy something else. So that was my strategy and that's what I started doing. I never made some money to start with and I didn't lost some money. I'm not going to lie to you guys. It wasn't fun. The first off, let me be very, very clear. If you don't have the stomach to just kind of take a loss, watching your money disappear in front of your eyes is like one of the worst things that can ever happen to you. You have no power to stop it. And so again, that was my experience. And so if you think about getting into day trading like make sure that you can take a loss. That is just a given. Because you're going to lose some, you're going to win some. The goal is to win more than you are losing. So my experience with Robinhood, unfortunately, when I was really getting into it and really starting to feel it, this whole market volume started moving so fast, Robinhood had two major crashes. And between those two crashes, I was seriously impacted because I had bought a stock hoping to sell it the very next day. And then the next day came and when I was ready to sell it, Robinhood crashed. So that stock went up and down and I couldn't sell. So that was one of my really bad experience. But there was actually, there was a stock that I actually bought and made a thing about over $2,000, which was good. So I saw that stock going up and so I listened to their ending calls and I bought the stock. I think I bought it at, if I can remember, like $13 or so. And then the thing just kind of spiked to like $150, $16. And then so I made about $2,000 in that, which is good. Then there was another one, eHealth that I bought. Thinking it was going to go up as well, but it went south. So out of the $2,000 that I got from the other stock, I gave about half of it back to eHealth, which is kind of crazy. So that is the experience with stock market. And so far, the swing has been doing really good. So let's talk about the two. First off, if you don't have the right tools, just don't even bother. What I realized with Robinhood is that when you see their prizes move, there are at least five or 10 seconds behind other tools that I saw. So let's say, for instance, let's say the price is $10.05 that you're seeing in Robinhood. That's the ticker sign, right? Actually, that price would have moved up to, let's say, $10.70 before you see it in Robinhood. So there's like a lack in between. And now that's where I sense the importance of people that have what we call scanners that show you level two data, where it's actually showing you like active, like how much people are willing to pay for a stock at that particular time. Robinhood doesn't give you that information. So you can even place a trade. You see it, it says, let's say $10.50, you say sell. By the time that trade goes through in Robinhood, it's going to be, if that stock moved, it could move down 10 or 15 cents down. So you see $10.50, you end up selling for $10.30. But the price at which you wanted to sell was $10.50. Just because Robinhood is that slow. So if you are actively looking to get into day trading, you want to be an active day trader, no, no, no, no. Not Robinhood. Please, please learn from my mistake. Do not use Robinhood whatsoever. There's other better platforms out there. I've tried Tinko Swim with TG Ameritrade. I think the better. I've tried Wilbo and that's, I think I'm actually getting towards moving into Wilbo because so far it's free and I've seen some of the stuff that the tools that they provide are really, really helpful. So yeah, and again, if you sign up for Wilbo, I'm going to put a link in the description below. I think you get like three free stocks just for signing up, which is awesome. So yeah, check the link and go get you some free stocks. That is the platform I'm probably going to move into. You're probably asking yourself like, hey, how much did she actually put into the stock market to get you started? So when I started my account, I had $4,000 in the account that I was investing. So I used that $4,000 and it just grew up to maybe about $6,000. Then the other thing that I did just to give me perspective was that when I signed up for Wilbo, I saw they have like a paper trading. So you can actually paper trade in Wilbo. So I got into it and tried it. I paper-traded Tesla. I paper-traded Microsoft. I paper-traded Apple. And so within that period, I think I made just within the period of a week of paper trading, I made about $75,000. But they give you $1 million to paper trade with, which is awesome. So if you're looking at getting started, I'll say try. Sign up for a tool like Wilbo and do paper trading and just play with money that's not real money. The only difference is that when you lose that money, the effect is not the same like when you lose real money. So my transition was I go from now paper trading and then I started with really small amount. So instead of buying, let's say, 100 or 200 shares of a company, nope, I'll just buy three or four. Trust me, guys, you're going to think like, oh, I wish, which is always a case. And that's the mistake I always made. So when you buy three or four shares and then the price jump up, you look at the numbers like, oh, I bought it at $10, it went up to 15. So I only got 10 shares. So what if I had gotten 100 out and made a boatload of money? That is what will kill you. Number two thing that will kill you is greed. Set your price and be very, very solid on it. Your exit price. So if your entry level is, let's say your entry price is $10, you say, if it goes up to 12, I'm out. When it goes up to 12, get out because you're going to sit there and be like, oh, if it's going up, what about if it gets to 13 or gets to 14? That's the greed that's going to kill you. So, and that's happened to me. I've seen it done to the point where it goes up, no, three, four, five dollars. I'm like rejoicing and smiling. And then all of a sudden with a blink of an eye, it just goes like it comes crashing. So please, please, if you're thinking about it, again, you have to be very disciplined. So, overall, I would say I've made about $3,000 day trading or swing trading slash day trading. And I'm not saying that I know exactly what I'm doing because I don't. I see all these guys on here on YouTube putting, they're showing all the charts and all these candlesticks and doing some math and algebra. And I'm simplifying the process for myself. I look at a company, I look at their earnings, I listen to their calls, and if I hear good news, I know the stock is going to go on. If I hear bad news, I'm not touching it. And that's how I go about buying it. And then when I go in, oh, one other thing too with Robinhood that I didn't like is that they don't have like stop loss and they don't have take profit together. So like when I said it using Wilbur, if you want to buy a stock, let's say it's $7, that's your entry price, you put your stop loss, I say $6.95 and you can put your take profit, I'd say $8 before you hit buy. So that when you buy, if anything were to change, if the price went down, you stop at $6.95. So you only lost $0.05 in that case. And if it goes up to say $8, you sell and take your profit. And I mean, again, you're gonna probably be like, oh, what if it went up to $9? But that's where you have to be disciplined. So Robinhood doesn't allow you to do that. So you can only set one or the order. So you can do a take profit, which means you can do a market sell at a particular price or you can do maybe a stop loss at a particular price. You can't set a sell and stop loss with the same stock in Robinhood, which is ridiculous. So yeah, it's for me, just learning, it was good. I don't think I'm gonna use Robinhood moving forward for day trading or swing trading. I'm gonna move my asset over to either Tink or Swim or Willbow, but I'm leaning heavily towards Willbow because I mean, again, like I said, the tool is free. They have a lot of information that I can use to kind of start investing. Their application to me is very simple. I like the layout and everything. So I'm not gonna invest money yet in like, I see all these other people here on YouTube doing scanners. I'm just gonna keep trying it. And again, my window for trading is between 8 a.m. and 9 a.m. that window, that's about it. After that, I'm done for the day trading. I go do my day job and that's where I'm gonna approach it. And if things get better, I start making more and then I'll start seeing how I can balance that. Otherwise, that's my story, guys. That's my day trading experience. Like I said, this is not meant for everyone. It's a very, very risky business. If you cannot stomach losing money, please don't even attempt it. Again, think about the platform that you're using. Robinhood is definitely not a day trading platform whatsoever. And then think about your discipline. Are you greedy? Do you look at the stock market? Another thing is always gonna go up. No, it's gonna go down. There's other things about day trading that I'm still in the process of learning, like shorting, I haven't shorted yet. Just because I mean, I just like to go long because that's what I understand better. But in the future, that's something I'm gonna try. I'm gonna start shorting using paper trading and see how that goes. And for those of you that don't understand, shorting simply means that you anticipate that the price of a stock is gonna go down. So you can buy it at, say, $10. And then when the price goes down, that's when you make money, if you're shorting it. If the price goes up, you're losing money. So that's the next step that I'm gonna try and just see how it goes. So that's my experience, guys. If you have any questions about, again, what I did, how I started and I used Robinhood for the platform, let me know in the comment section. And as always, guys, investment is a risky business. Mind how much money you put into it. That's not meant for everybody. Stay motivated.