dozu888, You right. I would say every trader should be investing for the long term anyway. I don't invest in qqq, buy I only invest S&P500 index. Day trading can be addictive and we forget the long term planning as well. Can't put all energy in one plan.
I use 20% of my accounts for "trading" the rest is fire and forget. I want to beat my "fire and forget and occasionally adjust" portfolio for a year so I can justify the time wasted on here to myself. So far, fire and forget is at almost 20% return for the year while active account is at 50%. LET'S MAKE IT 500%.
Absolutely do not spend more than $100 on any learning materials, such as books and Udemy courses. After that you’ll see how much you understand and can test some trading ideas. And never spend like 1K+ on anything or anyone. There may be some great courses out there but if they’re really good then they don’t need to scam you out of $4k, just like great people write great books that don’t cost $4k. And really, don’t count on more than 10%, maybe 20% per year. All the get-rich quick methods require taking extreme risk of losing your whole account at any time.
I 1000% agree. My biggest investment mistake was not investing for the long term in SP500 index when i was only 18 years old. It's the highest probability and simplest way to make long term money.
turn on ESPN2 right now Overwatch is da game there will be 2 more matches today on twitch.tv son is still in the minor leagues due to age restriction.
Remember the Kiss principle. Keep it Simple. Follow the trend. Trend following still works especially, in the long term. Where will it end? Who knows? It does not really matter. If you have discipline, you will make monies. That $4,000 you can compound over time. You can use a 100 day EMA and get in when the price crosses over and closes above the 100 Day EMA and then, exit when price closes below the 100 Day EMA. Rinse and repeat. You should win most of the trades and come out ahead. Do a manual backtest to have confidence that it stands a fair chance of working out.
Interesting. How did he get started? I want my son to get involved in this (he also plays physical sports) so he has something he can build towards. He plays fortnite, but not sure how he can really build towards something.
The other day, he and I watched Tfue play on YouTube (that guy swears a LOT) and it was really impressive how good he is. That isn't gamer level, that's elite athlete level strategy and reaction. Not very many fat pro fortnite players.