Simple question. How many positions do you allow yourself to have open at any one time as a daytrader? Not looking for $$ figures, just how many ways you can spread your concentration. ~RT
lol thanks for the input so far. I'm asking this question, because I would like to determine what kind of buying power is needed to have a good chance of success. I define success as "being able to live off of profits as well as slowly compound your account". Obviously, it is different for everyone, but I believe that there is a BP level where, if you fall below it, your chances of "success" drop dramatically. Pretty much, I am trying to determine if (hypothetically) I would trade in 500 share lots, and hold a max of 3 positions at a time, how much BP would I need? and, could i be "successful" with that level? ~RT
Here's what you do to prove you've got a pair. Open as many positions as you can. Torch up a fat cigar, pour you a strong one, and put Rooster Cogburn in the VCR. The trick is to keep replaying the scene where the Duke gets called a One Eye Fat Man. Duke replies "Fill your hands you Son of a Bitch", puts the horses reigns in his mouth and charges the Bad guys. Six shooter in one hand, Winchester lever action Rifle in the other. He had 10 guys shooting at him, and he killed everyone of them. That's the way you need to trade, don't let anyone here over complicate things. Good luck pilgrim. ...Rennick out
Thats how they used to trade over at the Soes shops, before you could buy and sell the 'market' easily.