BTW deaddog, do you monitor a basket of stocks for your trades, or do you scan everything that meets certain criteria? I rely heavily on calculated metrics for trade management, so I use a basket of symbols/instruments spread across asset classes. Currently built it up to 50+, I'll be adding to that as time goes on, though I doubt it would go beyond 100.
They have to become just then learn about forex then they will earn.I think that's what he is getting at. Wonder if he is looking to mentor?
I'm a long side trader for the most part. (Canadian tax laws tax short sales as income)I play the short side with inverse ETFs. I'm not concerned about asset classes. I scan for stocks with certain price and volume criteria that are in an uptrend. I also scan for stocks, that meet certain fundamental criteria. I combine those scans (About 400) and then look for set-ups. On a good day I might find 10 on a poor day 0 to 2.
most people start with a VERY big acount. then it can grow into a "big" account. about that time, you should retire.
Really? Good to know. What's your reference for this. I need to know more, now that I am finally reaching the point of being profitable. Edit: You're right. Item 18. http://www.cra-arc.gc.ca/E/pub/tp/it479r/it479r-e.html How are profits through forex trading treated?
I began with 300 bucks in 1957. I met a person with initials RM who was position trading. RM loaned me the 4th ed of Magee. I looked and learned for 20 days. The next 20 days I used the 300 dollars to trade in parallel with RM. This odd lot trading had some penalties in terms of costs. So I contributed half my net salary every two weeks (135 bucks). the first stage I went through was odd lots to round lots all position trading. RM and I took half the potential profit per turn. We sorted stocks into a Universe whose moves were 20% or more in 6 to 8 days. Plus some other fundamentals. The WSJ last page was saved and clamped together quarter by quarter. It took 7 position trades to double our money. We compounded and added from salary. 20 % divided in half is 10%. If you use 1.1 in the compound formula and raise it to the 7th power, you get 2 as an answer. 2 means your intial capital is doubled. I took out the capital I put in when I doubled. So I started over with an amount of capital that was 300 plus half my salary put in while doing the first doubling. Today getting a stock universe is a click of a mouse. But this disadvantage is explained in this thread. I found that the second "stage" occurred when I compared my slaray to my costs. They were equal. At this time I could afford toys and travel. So would take out lumps of money for such. I Kopenhagen I took delivery on a 190SL MB in 1960. recap: stage 1 going from odd lots to round lots. this took a couple of quarters in 1957. stage 2 salary + or < costs. also I can buy toys and travel. This commenced in 1960.