yeah, try that, lol and tell us how you do. wasn't there some study a while back where guys threw darts at the stocks page and whatever stock the dart landed on would be selected in a model portfolio- then the brokers with years of experience made their picks and i think that the randomly selected stocks won out. what happened? anyone know? and, to make $5K/ month isn't that hard- just be really selective and only get into good trades- don't have any losers but really, if you are only in the game to make $5K/ month you've got your sights set pretty low........i wouldn't trade unless i honestly thought that i could make at least $100K/ year
so this guy thinks he is going to net $60,000/yr starting with $25,000 capital ? Anybody out there willing to say that they have done that ?
I think WAXIE did this. 33K to 7 Mill in 2 years. You can read about it in his book, oops that is not right, the trades are not in his book. You have to subscribe to his website, oops I forgot he is making a movie this summer. The better way to ask this question would be to poll people who have not traded in a year or more how they did with their grubstake.
Short on an unethical company which is suspected for accounting scam. And don't cover the short position untill they declair bankruptcy! It works pretty good such as Worldcom.....
I have had years over 250% as I am sure some of the other more experienced traders on this board have BUT that is a pipe dream for any newbie trader... He should be more concerned with trying not to lose 250$ a day... Publias
Since I started last year I went 8k in the hole and since turning positive this year, I am up $35k, and at the peak was $40k (been losing in July, dammit!!) So, extend that to a full year..and yep, i excpect nothing less than a $60k year! If you think this is amazing...WAKE UP!!!! It's nothing special at all! I don't personally know many traders, but I have a friend in California that started about 6 months before me and is up about $300k year to date. What did you think? Someone is gonna start daytrading full time and hope to just merely beat the S&P? (something that you have mentioned is a monumental achievment..) Starting daytrading and not expecting to consistenly make over $100k/year just is not worth risking losing everything over..(not to mention the stress, heartaches, etc )
I heard that it wasn't the picks, it was the disciplined sell strategy. If they had a small loss the position was closed. No surprise about the brokers, though.
And This: http://biz.yahoo.com/fin/l/w/wade.ob.html And look at his statement on Cash Flow, no investment returns for the last four quarters. And This: My review from Amazon. From Wade Crook's Free Stocks, this clown can't even write a book that shows winning trades. This will cost you real money!!, January 8, 2002 Reviewer: trdrmac (see more about me) from Raleigh, NC USA I have read several of Wade Cook's books and usually find them amusing, until this! One would suppose that if someone would tout returns of 20% per month they would at least show trades that returned this, but not Wade who actually publishes losing trades as examples. Not to mention half this book pumps his other seminars and books. Save your money! Wade Cook on page 84 recommends buying on margin if possible (borrowing) to buy stocks. Over the past 18 months I have come across at least 50 articles in major newspapers of people who lost everything buying on margin. On page 50: Wade's example shows the purchase of $81,000 in stocks with 40,500 in margin, 40,500 in cash and selling 20287 in calls (the premise of the book). This gives a portfolio value of $60787. At the time the options expire the stocks are worth $67200 (my numbers from bigcharts.com, the author omits them) but you still owe 20213 in margin, meaning your portfolio is worth $46,987. A loss of $14,000. Page 124: Buy $103,405 in stocks with 51,750 in your money and 51,750 in margin loan. Sell 26750 in calls, this leaves you with a portfolio valued at 78500. At the time the options expire you have $69,000 in stock (I had to look this up, for some reason it was omitted), you still owe your broker 26750, which means that your portfolio is now worth $44050. Hardly the stuff dreams are made of. There are plenty of articles on Wade, Readers Digest, Newsweek, Thestreet.com, but nothing speaks louder than Wades own examples.