If you only have $5K and your determined to play this game...Discipline is the single most important factor. Think of it as poker. You wouldn't play a high anti/blind game with a small stake. There are are smaller games. You can use at least close to proper risk ratios with $5K in mini grains and penny stocks. The discipline is: First, dedicate yourself to building your account over time instead of overnight. You may get lucky and hit an early homerun but don't let that possibility sway your decision making too much. Second, do your Due Diligence! Do your homework. Third, don't try to out guess the market. Sit on your hands and wait for situations to develop. Don't be a day trader. The point is to build your account, not experience endorphins. (unless that is your goal which is probably more common than I would care to believe). I like penny stocks because you get a big bang for your buck when they move and the company's are usually small enough that you can get on the phone and develop a relationship with one of more of the officers. It is possible to find small companies that are about to break out big. It happens all the time. www.stockhideout.com and www.onlinetradersforum.com both have excellent penny stock boards. Good luck.
Emotion. How does the average retailer eliminate emotion? The average retailer trades TA, and there is a myriad of technical aspects on offer. Too much information. The average retailer will bounce from one idea to another, because nobody is telling him/her that thier first idea was correct, they just had to stick with it and refine it. The average retailer is really up against it, not only are they taking on something that has no guarantees, they also do not know what they actually want. This is the retail paradox. To make it as a retailer, you really have to be good, a born trader.
even a future born trader has to have info, you just need to find a combination that works,it takes time
Hey 'sooky' why haven't you posted your charts and platform? something to hide? or nothing to show? -------------------------------------------------------------------------------- Hmmmm.. I can't hear you 'sooky' He ran away in another thread as soon as I asked to see a little proof that he trades.. if only I had known earlier that was all it took to get rid of him Burnt beyond recognition
julia here mcpd âIt seems every day some new and up coming superstar day trader (ok wannabe superstar day trader) asks me the same questions. It always strikes me as funny that everybody always seems to have the same questions when to me the answers just seem so obvious.
Hey 'sooky' why haven't you posted your charts and platform? something to hide? or nothing to show? -------------------------------------------------------------------------------- Hmmmm.. I can't hear you 'sooky' He ran away in another thread as soon as I asked to see a little proof that he trades.. if only I had known earlier that was all it took to get rid of him Burnt beyond recognition