Intraday or long term

Discussion in 'Trading' started by trader1974, Jun 8, 2019.

  1. Turveyd

    Turveyd

    Don't really, need to be a millionaire, so not doing something that makes more money than an average job with less time and hassle, which will also not make me a millionaire, is kinda illogical.

    My Goal is to get account upto 20K-30K Max, then make $5K per month part time trading few hours here and there, I can live on $2K, I'm up 2K last month from a 2K account so not a huge issue ( if YM keeps being CRAZY )

    Why does anyone really need more, which they aren't going to spend ? other than a status symbol!
     
    Last edited: Jun 10, 2019
    #61     Jun 10, 2019
  2. I need more, so my goal is to get my account up to 100K where I think my strategy will have some scalability problems, and maybe that's is enough for me...
     
    #62     Jun 10, 2019
  3. Nobert

    Nobert

    Thats why we got visionaries and shapers.

    One could hire a team, of
    the most brilliant,

    engineers, architects, artists,

    to build, architectural wonders, like Statue of Lyberty, yet all around the globe,

    but 3x, 6x, 10x times more challenging and more - inspiring.
     
    #63     Jun 11, 2019
  4. Turveyd

    Turveyd

    It's a good job there are workaholic nutters, which will never have enough money like Musk or most of the things we have today by sheer lazyness wouldn't happen.
     
    #64     Jun 11, 2019
    Nobert likes this.
  5. maxinger

    maxinger

    INTRADAY !

    Why do you want to beat Warren Buffet?

    Why don't you be better than your previous self, and reach financial freedom?
     
    #65     Jun 11, 2019
    Turveyd and trader1974 like this.
  6. ironchef

    ironchef

    You are way off, add another zero or two.
     
    #66     Jun 13, 2019
    murray t turtle likes this.
  7. Turveyd

    Turveyd

    I disagree, trading at $10 per point with a 4K account is scarey enough, scale that upto $1000 per pt allowing for less risk and that's serious brown trousers time, don't think I can trade above $100 per pt anyway, maybe better futures account, then instant fill or slow partial fill.

    See loads of issues scaling up.
     
    #67     Jun 13, 2019
  8. padutrader

    padutrader

    i agree to this..but may be exceptions to the rule....
     
    #68     Jun 13, 2019
  9. maxinger

    maxinger


    The great thing about day trading is that you trade using leverage ie don't need sooo much $$$.
    also profit (or loss) is highly scalable.
    You use same technique, same amount of time, same computer, same charts.
    you increase quantity by 2X, income increase by 2X.
    you increase quantity by 10X, income increase by 10X.

    There is no other profession that is that highly scalable.
     
    #69     Jun 13, 2019
    wwatson1 likes this.
  10. padutrader

    padutrader

    i m not sure whether you agree with me or not
     
    #70     Jun 13, 2019