it sounds like a good book. don't worry about spam or pumping it ,,,if the book is good tell everyone about it. another good book is technical analysis of the financial markets by john murphy it's a encylopedia of TA
Yea that actually a fascinating chapter. Dana tell s abut the time heard that Templeton bought every $1 stock on NYSE after WWII and then proceeded to make a fortune in the post war rally. So after the NASDAQ crash he replicated the same strategy with tech stocks and made a killing getting what he calls ten baggers.
The least amount of time is 3 years. Most have been doing at least 7-15 years and not only making money but thriving - I've seen the boats. And more importantly I've seen many of them trade live.
I think you will really like - its not academic in any sense of the word. It all about the everyday challenges and joys of being a trader.
I can't understand it people, what is this thing about insisting to ruin threads? What's it to you if he is spamming or not or what have you, simply don't read and leave it to each person decide for himself. In other words take your crap elsewhere and let others benefit from this thread, can you? No you cunt, I know...
This is the most ludicrous line I have read on ET... And that is saying a lot. You win the "Pathological Whore Spammer Who Will Do ANYTHING For Money" Award... For Tuesday, September 4, 2007.
Stop being so self-righteous....Let him speak...we want to learn more....I love learning from others who've made it big! If you've nothing left to learn then leave this thread alone!
contrary to what the broker, you don't need $50,000 to daytrade. a true daytrader can tell you $10,000 with 20X margin is more than enough for trader that can daytrade. These brokers just want your $50,000 and most don't even bother giving you $25 trading manual. it would be like the casino teaching the customers how to beat the casino.
Well the answer is very different depending on which market you trade. In stocks you need 25K just to comply with the day trading rule unless you trade prop. In futures leverage can run as high 40;1 in FX leverage can be an insanely high 200:1. But the consensus view that emerged from conversations with all our traders is that 10;1 leverage is MAXIMUM that you should trade and even then that's the END not the START of your position. In other words is if you have 10K your nominal position in the market should never exceed 100K and that only if you are essentially scalping with very small loss limits. The number one reason most traders go bankrupt is the same reason most business owners fail - undercapitalization. Having enough money to back your positions will not guarantee success, but not having enough capital to absorb even a minor adverse price movement will assure failure.