Most of my extra money is spent on Fishing and Cigars, i dont think financial freedom is possible in this type of trading
this is a 45k $cad account and i use all the available margin from TD wich is around 100k USD, if you think $100-200/ day with a 100k is not good then i dont know what to tell you.
Hi Es, the profits posted above are from the penny trading strategy NOT from the GLD one. yesterday was day 1. The account for the penny stock strategy is a cash only account that is from 400k-550k depending on what i Wire out. All trading from this strategy is done with CIBC
I mean this isn't a strategy were you will make huge gains. It will always be a grind, but if i can make it a other 15 years il be okay
I hold between 3 hrs and 2 days. The longer i hold the better chance its a loser, i rarely go short and none of the stocks are marginable, its long only.
Filled 600 of 600 at $182.540 Filled 600 of 600 at $182.640 Filled 600 of 600 at $182.700 Filled 600 of 600 at $182.800 +$120.00 on the day for the GLD system. (got out to early on the first rip left $0.40 on the table, wired out +$500.00 from penny stock strat
Be realistic, there is no such thing as consistent daily positive bucks unless doing HFT which for retail is hardly if not impossible due to setup costs. Trading on margin presents further issues such as making for more skitterish trading which then creates more losses. There are no shortcuts to trading. My opinion, start small, unleveraged, avoid day trading. Day trading is huge energy for woodpecker chips. Remove the temptation for trading for profits and zero in on getting the process right. Having process right then takes care of the dollars and makes for safer trading.
I understand what you are saying but im no spring chicken to trading ive been doing this for 10 years. Ive been been profitable for the last 8. Ive had 9 losing months out of the last 96, so yes you can be consistent on a monthly or even weekly basis, im not looking to make money every day but rather every month. The GLD system only represents 10% of my total accounts. I do agree with what you said to focus on the process rather than the profit.