winning has a lot more to do with finally starting to understand what your parents were trying to teach you than guessing what the market is going to do I don't really think costs have much to do with it, other than knowing it is always expensive
you just don't get it, but you ask intelligent questions, your comment about "most' poker players is about as stupid as it gets. Why don't you learn how to operate a calculater and then ask another one of your intelligent questions?
I like that, lol, a lot of them also use omg. Have you ever tried ROTFLMYAO?I think it stands for ,"Rolling on the floor lauging my ass off." not sure why at $50 an ounce anybody would want to roll on the floor but a thoughtful reply is always appreciated omg, I am so totally wasted
Young traders don't have the experience and patience to see a trade thru. They panic as soon as the price goes below where they bought. The best advice I would give is to not go at this alone. Sit next to someone who has experience and learn.
Or trade small... read a lot ... don't burn out... journal... and never put yourself at risk of ruin... and never give up.... try and try again... find an edge.... have balls.... hold a trade until the rules you set before you trade go into effect tell you to get out...learn when not to listen to yourself...
This will most definitely go against what most others recommend, but I suggest you read very little books as all read them and few get much worth out of them. Get a book dealing with "Trading Plan", get Ninja software which is free till you use the platform to place trades, open an account with any broker where their data can go into Ninja. Read posts from here http://www.elitetrader.com/vb/showthread.php?threadid=204669 Do not start Real time trading till to can do 500% in simulated account. Long term trading provides the most in profits, least in number of trades and time. Day trading you will need to get losses very low, have to consistently watch you don't overtrade and spend a heavy amount of time to make a very small amount per trade. I day trade ES and will ave $16 to $37 a contract depending on the week, but I been trading 25 years. I never recommend to anyone to day trade first, do long term first to build your account and expereince then get smaller. Erosion: At least 40% my trades I get 1 tick profit, I rather have someone else pay my fees, and often I cheat myself of a move that takes off, BUT, I didn't lose. OLDTIME, I recall spreading Value line at the close, WOW long ago.
I feel like you need at least $20,000 to throw behind a day trade in order to make decent returns...I don't think 5k or 10k is enough.