No you need to have gobs of money to trade. That's the key. The more money you have....the more you have a right to trade. lol this site is such a joke. You guys need to get real. Several people including myself started out with very little and are doing reasonably well. Sure it'll take years but you'll do it if it's what you really want to do.
How come you don't use that type of math for you retarded "stop losses are for losers" thread? haha Regardless I take everything you say with a grain of salt.
Yes it's all possible AND MORE!!! Just go to the Pureschtick room and let your dreams begin!!!!!!! Good luck young fella.
Yes, but college is still the better investment. I feel like I have learned so much about the world that I took for granted in high school. I also studied abroad in Japan and in several countries throughout eastern and western Europe. If I fail as a trader, I am confident that down the road, I will have a job where I make 100,000+ a year anyway. Obviously, this formal education will not directly improve my trading. Still, I don't think that I was nearly as smart as I was in highschool. I have evolved tremendously as a person. I am majoring in Political Science (governments role in the economy) and minoring in International Relations, so it certainly helps on the fundamental side of investing. Hopefully I will be able to develop my technical skills. I can't afford to scalp, nor would it be legal, but maybe a buy and hold strategy would be best. This method will also obviously combine fundamental aspects as well as technical ones. One advantage is that intermediate trends are stronger than intraday ones. We'll see how it goes. I'm interviewing for several Investment Banks in May, so if I actually get hired in this horrible economy my trading will obviously come secondary. I won't nearly have as much time to learn to trade as I do now. That is the reason I am asking whether I can make it with such a small account. My parents can easily give me $25,000 if they trusted me, but they want me to get a real job with a salary. They are trying to teach me a lesson by not giving me anything financial because it is risky and speculative. Thats why I only have my money.
This was helpful. The math certainly is not in my favor. Perhaps my goal of making $50 a day was ridiculous. I don't know how I feel about going on margin as well, particurarly because I can't "day trade"and scalp. The only realistic strategy is a short-term buy and hold one. I would like to get more accustomed to trading before going on margin. Your advice was very informative nonetheless. Thanks
It seems difficult to me with stocks but it is possible to make $50 a day using options. Of course you're looking at a pretty high risk high reward trading. I gave up on trading stocks a few years ago and switched to strictly option trading and yeah it's possible to do $50 a day with your funds..... but just remember it goes both ways, you can lose as easily as you win.
next time I get one that I think will move...I will post it in a new thread...peace...again, this is very risky but if done correctly I can assure you you will make a better return on your $1500.00 ....but again like piezoe said you wont learn shizzzo about trading.... look at gygc...got that email at .50...dont forget I also get tons of emails of ones that dont move or sink quickly... but as I said you need to figure out who is running the show.... look at bvrg, cajt...the guy is in jail now but his stocks are high flyers...so anything he would do , if bought at the right time would have tripled your money; bought at the wrong time would have killed ya...peace
My broker allows me only to do Covered Calls. Do you think is adequate? I'll also be completely honest and say that options are certainly not my forte. I obviously understand the concept of options trading, but I don't know how to guage a good premium or discount. I've read Stock Options for Dummies, but thats the only book. But I surely need to learn more about them. I don't know if I would be comfortable starting with them. My broker is TradeKing, and its apparently a good options broker. They have a lot of tutorial on their website about them. Do you think it is a good idea to start with options before stocks though?