Let's use 2006 and Let's use one stock. Let's use 30%. If a sort is done and a small high quality universe appears, it may be considered not too risky. The universe just contains stocks the are top notch. That is tops in quality of earnings and tops in price prformance. If we chose one of them in a timely manner and make money with it, hen it may be less risky to trade the second time since we have done it before with the stock. This occurred in ET. The stock was named, bought and sold. This is a reality. What happened was a stock was bought and sold four times. Each trade was three days. the first trade was the 30% The second trade was also 30%. The third trade was 30% also. The fourth trade was 30 % as well. None were exactly 3% they were a little more here and there. What happens to a person doing this and compounding profits? My thought is that when I speak to them face to face and they are trading other stocks as well and in the room where we are talking other people have done trades with this stock as well becaue they sort it out too and traded it I get to the place where this is a common occurance for people who trade stocks. I see it as money used and compounded by being in the market for four times three days each. The person I am talking to has a 10B calculator, she, in her early fifties, uses the calculator a lot. I will see her on Sunday, next for a brunch along with seveal othr people who have traded this one mentioned stock and MANY others. I feel you are giving advice that is not up to snuff. I recommend that you consider what I have posted as a viable alternative for anyone. Sort>>>>list>>>>> monitor>>>> buy>>>>>hld>>>> sell. Get out a 10B calculator and and press the numbers 1,30 and 4 into it and see if is 30% for the trades. See if it is 100% for the trades. This is one stock that appeared on a list (A high quality list). It was tradable 4 times. It always exceeded 30% per three day trade. forbes, by October, after all four trads were done in a bout three months, listed this stock on a list of 100 companies. It was there and the CEO made the cover. We who had traded it all gave a thumbs up to Forbes. We were front running the stock and it had hit R how any times? lol..... It is my hope that this year some people wake up to the potential of the markets. What do you think it is like to be a trader who knows how to trade? There are stocks (many) every day of the year that start out to make money in a few days. How much do they make? Why even look at a stock that does not make 20% moves in a few days? Traders trade streams of capital. Every stream has several stocks lined up as a batting order, at least three. Pinch hitters are there too. Leading indcators of price tip off the trader that the batter will have a BO up in an hour or so. All streams are in parallel so they all have to perform. Why are there parallel streams? You need liquidity to trade; that is why. How does a person become a trader? that seems to be uknown to a lot of people. i do not know how a person makes 100% a year. Why? Because it seems hard to do unless ou only trade a few months a year. Read at your first opportunity: IBD MeetUp Number Five: Putting the Pieces Together, dated 22JUN06. There you see 30 snagits in color of the batting order of four streams of money for one day. In hand writing, you see the plan before open; you see the plan actions in bold as the day proceeds and you see the days results. It would take about fifteen such days a year to get to 100%. This is an actual trading account. It will make a lot of money as it is an OOM strategy account that is being traded.
I tend to agree with Jack... Ive only been actively trading since early summer and Im doing better than I could have ever imagined. Yes..its been a bull run..but I made bank today and it was definately a down day. Having said that..and I totally apologize for threadjacking here..but just for a moment. I find my biggest limitation is fear of liquidity. I just cant get past my fear that when the time comes to get out ill be caught as the price falls. If its a $30 stock I find myself sweating if I want to buy more than 5000 shares.
Uh, if you say so. You might want to get a beer with myminitrading to talk about "what they're doing" with oil prices and such. Fletch
What's so great about a million? Is it just so that you can say you made a million? Or that you are a "millionare"? Then you truely do not love trading, it is the life that is behind the successful trader that you love and it is for this reason that you will fail.
trust me he won't fail. he may not get the mill right away, but he won't fail. u do not have to love something to make money at it (just take a look a sports and business leaders).
This is very true. You may be a happier person doing something you love, and you may be fortunate enough to make a lot of money doing something you love, but you don't need to love what you are doing to make a lot of money. The most important part of making money is the ambition, drive and planning to make it happen.
There are always exceptions I guess. But probabilistically speaking, there is a higher chance of success when you truely love something. Ofcourse, there are exceptions in this case too. I just don't understand how you can spend a long day working on something you don't like. With trading, you might think you like it, but if you spend most of your time day dreaming about saying "hey I am millionare, have sex with me" to chicks, that's not love for trading.
I've disliked what I have been doing for the last 33 years. I continue to do what I am doing because there is no way I could make as much money as I do right now doing anything else, and to be perfectly honest, I'm damn good at it.
If I reach my goal in '07, I have a feeling it will be from the sort side. I'm bearish. I appreciate all the responses - many have been rich with constructive comment (e.g. liquidity, lack thereof, is an obstacle), and I hope everyone here achieves their goals in '07, too.