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smallStops
Registered: Oct 2011
Posts: 1022 |
05-30-12 05:05 PM
Emg,
You have a point : retail traders should always stick to demo till they can show 6 months of consistently profitable trading.
This would eliminate a lot of the "reloadings".
You have a point : retail traders should realize and admit they are retail, so as to stick religiously to their stops, and their money management. Remember retailers are competing against arrogance, so stay humble.
Thank you for helping the small traders become better.
More info please  .
Quote from emg:
There are tons of successful big traders (Higher Educated) vs Small Traders ( Lower Educated and Under Capitalized).
Study this chart:
http://www.elitetrader.com/vb/showt...=6&pagenumber=3
Higher Education is the key to become a successful trader!
Higher Education!!
P.S
I should add on the Ghettos Level:
Small Traders openning IRA account
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Froglet
Registered: Jun 2011
Posts: 151 |
05-30-12 11:05 PM
I don't know much about others but it makes sense to protect 'PRINCIPLE'. Mutual funds that garnish YTD gains on an annual basis should work well.
If you want to trade, allocate a portion and see how you do. If you can beat out your current holdings, then continue. If not, it's a clear sign that you should just leave it somewhere safe!
There's no need to be macho.
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dealmaker
Registered: Dec 2006
Posts: 607 |
05-30-12 11:32 PM
Quote from BUTfr:
I heard the Murray show that buying and holding is a disaster. He said the Japanese market didn't reach back to the level it was 23 years ago.
He also said the Great Depression reduced Dow from 350 to 45, and it took 25 years to get back to pre-depression level (1950s).
So I am thinking, this stock market is bouncing up and down, maybe for the next 20 years before reaching 1999 level. I got some CSCO at over 100 dollars.
To generate income, I need to trade this market, not hold it.
Any advice where I should start with? Stocks, ETFs, or options and futures?
My advice is do not listen to so called experts eg Cramer gave a buy recommendation on CNBC on Bear & Stearns day before it went under.
Moral of the story, it doesn't matter what you start with as long as you have done your homework and are capable of making your own decisions.
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Busta21
Registered: Aug 2010
Posts: 142 |
05-30-12 11:45 PM
Quote from dealmaker:
My advice is do not listen to so called experts eg Cramer gave a buy recommendation on CNBC on Bear & Stearns day before it went under.
Moral of the story, it doesn't matter what you start with as long as you have done your homework and are capable of making your own decisions.
Listen to this guy above. Stay away from the bafoons on CNBC they are all BAD NEWS.
Trade the ETF's: SPY, QQQ, SDS, GLD - Use technical analysis and keep it SIMPLE. SIMPLE.
Good luck.
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oldtime
Registered: Jun 2011
Posts: 7356 |
05-30-12 11:54 PM
the baffoons are all the ones trying to give this guy trading advice. Observation is the simple part of life, anyone can do it. All the guy asked was how much to pay a trader. And I'm just as stupid as the rest of you, I think I gave him a few bits of my hard earned wisdom. But this is getting out of hand.
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myoffices
Registered: Mar 2002
Posts: 390 |
05-31-12 12:34 AM
Please don't trade your IRA- Just the mere mention of Trade and an IRA is unsettling. Though I have nothing to advice other than seek a wealth manager and find a hobby I generally don't see a big success in trading your IRA. @ 10% return a year youre looking at 20k if you are lucky.
Pay the taxes on it and move it to a roth then seek out a professional. Get their advice based on your overall status then make your own decision. Best regards. Diversify and have a plan B and C.
See you in ten years.
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