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

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 podcast@nerdwallet.com . Like what you hear? Please leave us a review and tell a friend. Learn more about your ad choices. Visit megaphone.fm/adchoices