sdbstrader, If you are making the kind of money you are braggiing about making, then you will own the universe in a short time which is I gather the amount of time you have been making that kind of money.
Well said, profitseer. Maybe Baron can set up a second site, for people like sdbstrader, called www.make_more_than_100k_a_year_trader.com
I am bragging about making that kind of money? I was just asking a question. If you took that as bragging you answered it thanks. I only know my friends that I trade with who all make that money, so my sampling is pretty small. I have just been curious with all the "smart" people on this board....what kind of income they have. Although I LOVE trading, I would have never left a 90K/year job to trade unless I thought I would crush that #. I am sorry you saw that as bragging. It was not intended.
No wonder why Scott Smith is stuck in his one bedroom apt;he is pulling only 25% return a year,which is nothing.I can pull in 25% a day sometimes with my 10 to 1 leverage.This piker needs a whole year to do it.That story was the biggest bunch of BS ever.It mentions how daytrading is dated as a dot-com.Specialists,market makers,and futures floor traders have been daytrading forever and will continue to do so.Because someone would rather hold stock for a few minutes and make many small gains,than buy and hold mutual funds run by idiot fund managers who lose 50% of your money,the media portrays it as a crime.And why do they assume that we need a bull market to make money.We are not holding overnight.It is just as easy to go long as short.And most of the time,more money is made on the short side than the long side,because stocks generally go down faster than they go up.
I was glad to see the story - not the best account of what we do but at least some people now know that we are not all dead Next one will be better.... can we see to it?
Trading is very simple.What i do is follow the futures tick by tick,trade liquid Nasdaq stocks,and cut losses fast.You have to be quick to admit when you're wrong and get out.I know that most of the time,stocks will trade toward size as well as toward whole numbers.So by positioning myself before it gets there,i'm able to make a quick 20-30 cents numerous times throughout the day.
I think so many people fail trading because they ascribe to the wrong trading methodology. The buy and hold mentality comes to mind among many others. The same talking Heads on CNBC who labeled us gamblers, have lost a great deal of money over the past couple of years. I started day trading at the end of the Tech boom (just a couple of months after the crest) While all of the naysayers have been loosing a great deal of money over the past couple of years, I have paid off all of my college debt, bought a house, a new car, and have built a nice bankroll. Day trading is not dead. On the contrary it is very much alive....................