OK, I spoke with a trader that is nearly 100% profitable. He uses realtick and tradestation along with a program he commissioned. (no, he was not open to sharing much more than that) He seems to move about 4 million a day on 4:1 margin and the day I spoke to him, he made 2.5% or $75,000 on GOOG. what are the typical % gains daily folks and what methods are you using?
Anyone could say anything....I'm in horse racing and there are thousands of people who say they make money when in fact they mostly are full of sh$t.. I even meet a fellow 4 wheeler on the beach fishing 1 day...He told me he was a Day Trader and was very successful and actually told me he makes over a million dollars a year EASILY......about 7 months later, I went into a Friendly's restaurant not far from that beach where I had met him and I was shocked to see him cooking there.. (Maybe flipping burgers is his hobby
I found this guy through family and he seemed legit. I had mentioned my trading to my sister and she knew a guy from church that was a "day trader" so I cold called him. He was only talking to me because of the link to my sister. She said he had considerable wealth and after I spoke to him, I would believe him. He told me that he made millions a year. He must be on to something. He has traded for 12 years and I wonder if his wealth was during the easy years about 5 years ago. The day I spoke to him he did have some good gains. He even gave me his entry and exit numbers and it seemed to fit. He said his biggest problem was following the big instituational money and at $4mill, I can see why. My strategy is to use $25k to get positions in $3-$5 stocks and try to make about 2% per day. Only about $.06-$.10 per position. If I use the 4:1 margin, that is about $2k a day. Is that unreasonable? I know there are a lot of details missing there. I am planning on reviewing yesterdays performers and getting in on the following support floor and taking the first pop up. The johnny come lately type home investors hit the market with ripe money after they go home and read a DJ report.
You almost had me going there, until you went into how to beat the"johnny come lately type home investors."
If I were you, I'd learn as much as I could from this person that I know is successful; rather than ask people on some online forum. Most people on this forum are net losers. Even the few who might be doing well right now, may not be able to do it consistently... Oh and BTW, 2% gain per day on capital translates to about 14,000% gain per year. That's a lofty target.
well, the 2% is not realistic obviously. I do like the $3-5 range stocks though. I am trying to identify the best data and order entry avenues. There seems to be a lot of people with tons of hardware and services in the forum and I'd think that they are more than want to bes. I did ask the trade Nazi to mentor me and he said he has been offered big cash to train others. ($250k from some doctor). He said to think of it like asking a doctor to teach you brain surgery because you thought it looked cool. He did mention Japanese Candlestick Charting by Steve Nison and the Realtick and Tradestation. He didn't elaborate on the program specifics other than he had it commissioned. He also mentioned his computer cost $65k and had 11 monitors. When I said he was nearly 100%, his reply was that he never lost money, and then a pause, and then he said maybe about $1500 every few weeks. I do wish he would take on a Padewan learner.
I think it is doable. Obviously you are not after the 14000%, just after the money at the end of every day. What are you going to do with all the extra $ if I might ask?