Traders and Investors spend their time doing the research, looking at charts, and playing the markets for one goal, and one goal only.. MONEY Lets face it, traders and the like would not spend a dime or minute of their time in the markets if becoming a millionaire and living the american dream could not be reached in this game. tell me if i'm wrong, but a traders profits from the market is his/her way of measuring their success as traders. So feel free to talk about your success from 2005 below.
Well..... in my case i had to order another caterpillar plow fow my bank vault. The coin piles are up to the 18 ft level now....
Identifying, Understanding every single idea about CHART price action allowing me to enter 2000, 5000, scaled up to 20,000 share lots with incredible confidence and accuracy in stocks with less then $100-200 risk and $2000-20,000 gains in the right days and size. Only trading LONG now. No more shorts. Will be making over $300k a year this year with 900k BP. Took me Jan1 - Jan 31 2005 to get here. Step.
I don't understand. Don't lawyers, doctors, plumbers, businessmen and their assistants profit from their work? Don't they show off their cars, their clothes and their homes? Would any of them borrow money and spend all that time in school (reasearch, looking at charts) if the american dream could not be reached? Just because I choose to make a living trading does not make me any better or worse than any other professional. Are traders different than other successes or millionaires? Or for that matter any different than other bankrupts?
Traders income is exponential to skills Professionals income is reliant on pay increases. If you are good trader, you will build wealth incredibly faster then the rest. If you are not good, you'll be the basement huddler who is always thinking he is so close to his goal but yet so far away month after month, year after year with nobody to blame but himself.
2,000 - 5,000 is intial entry depending on avg liqudity per bar. 20,000 shares is only achieved when in scales. Most likely 3 scales. First scale must be in the money to move onto the next 2 scales Rest of the scales operate on their own stop losts. Which means all scales above the first entry will be not on my money. I don't look to average $1,200 a day I look to pull $10k days, $500 days other days, $0 days , $150 days, $20k days. I'm not looking to grind, I'm looking to haul massive ass and bet huge when I'm right. Scale down immediately when I am wrong on the futures .
Remember to account for the occasional news story that wasnt planned for when the stock gaps against you 5 or so points when you'll take a 10k, 20k or ever 30k loss. Thats the risk of overnights.