I guess you'd call me a position trader. My average minimum holding time is 1 month. Most on here don't like this method because its not the get rich quick, living on the edge, instant gratification lifestyle most seek. You can make a nice living with just a few nice trades, but you have to learn to hold them even when they're in a multi-month retracement,and you're watching your pnl slowly dwindle. If you ask me, it requires even more discipline and emotional fortitude because instead of making hundreds of trades a year, your making much less, so its important that those handfull of trades, pay all your bills, and then some. For example. A position trader would buy FCX at 20, and by the end of the year, sell when it was 88. A simple 1k shares would net you 67,990 after a 10.00 commission. In one trade you just made a pretty damn good salary. Position traders laugh at the day traders who churn their accounts for nickles and dimes, racking up 1000's in commission with little to show for it. Some manage to be successfull though.
that or the fact that this is the most absurd claim I have even read in ET. I wonder what can drive people to get so absurd. I guess many things...
I was going to say the same, but didnt want to be the first . Maybe he'll flame you instead of me lol.
WOW you can make 68 pts on 1 trade every year, year after year....YOU are such a genius? when is your next book due , i want to buy it
Your reading comprehension is a bit off. Where did I say you can make those kind of returns year after year? May I suggest --> http://www.superteacherworksheets.com/2nd-comprehension.html
oh i see. so you wanna make 68 pts one year and live on benefits the next. Good plan, newbie, good plan.
LOL. Yes, thats my plan. I opened this trading account so I can make ONE HUGE GIANT trade, and then close the account, never to trade a single share again. Yup, thats the plan!. Someone do something about the 13yr olds please.