Hey guys! If I newbie up through a stock portfolio simulator, would that get me prepared for the real deal?
You just havent learned the game yet, it takes lots of time and persistance. The ability to keep trying and failing and trying and failing before you figure out how things work (and you dont have to blow through many thousands either). Trading isnt easy, its not a get rich quick scheme. It takes months and years of tinkering and observation and "testing the waters" before things make sense. Starting a thread like this just shows ignorance and frustration. There are many people on this site and people I know in real life who make great livings trading the mkts every single day. Just b/c you havent done it or know of people who have, doesnt mean they dont exist.
Hey Steve, how's everything? I agree, maybe there is some frustration in me, but I am so damn determined to learn the markets and make my living off them.. I trade commodity futures(mini euro and mini crude) and I have great days, but today the market is just going against my anticipations. Would you share some of your experiences on this thread to let others and I included know how you got exactly to where you are today? cheers
Are you fucking kidding me? Have you learned nothing from all your tuition money and screen time? The one thing I learned early, early on is that the markets are NOT random nor efficient and that people panic out of positions for absolutely no goddamned reason or becuase they don't want to give a stock more than 10 cents of room even if there's a real buyer in the stock who's just letting it come in again to accumulate more before running it. Nobody? Shit, ANYBODY can make money from the markets. Make your job to stay extremely well informed of all news, especially related to pending mergers and acquisitions, and subscribe to Trade The News. Open up accounts with multiple prop firms that let you trade remotely and have some sort of a downtick-short productl; ideally having access to at least 2 is best. Then, sit on your ass all day and play video games, and wait for horrible news to come out on a company. Then, before or when the market shorties pile in, get short as many shares of stock as you can by smacking the bid - 3000 or more, preferably, and work out your own exit plan. maybe you want to kick some when the shorts first start getting taken out, but if it's really bad news, figure that the only buying going on is panicky short covering. You should be able to get at least $1500 from the trade, and there are at least 100 of these trades annually. A few weeks ago, there was one every day - DJ, AKS, MHK, and AKS a second time later in the day. $150,000 annually with 0 thought or effort.