Also, I should add. Read a few books and once you think you are confident, don't put a penny on the line. Instead, just offer trading education and sell it on the 'net. There is by far more money made selling the dream than the reality.
In contrary to most replies, I don't think it's too hard to make 50% in one month. In fact, any decent trader should make this number. I'm not just talking one given month, but for a long term. the key is to join a prop firm. Yes you 10x the risk, and 10x the reward. foremost thing is to manage your risk/reward efficiently. Unless you deposit six figures to start off, it's certainly achievable.........
David Tepper, Appaloosa Management Est. 2009 personal earnings: $4 billion Please direct me to someone selling anything regarding the stock market that made 1/100th of the above amount.
It is done by few on a consistent basis, but it is not like you are going to achieve in a few years to do it. And the methods to achieve will certainly not going to be written in any books. You mention "to invest", investing means to stay in the market with stocks, and you will never do it unless you doing penny stocks, and 99.9% lose their money. You have to go to instruments with huge leaverage like futures, but since you have zero skills? Your chances of accomplishing your goals are none in first few years. Everyone reads books, get like "A Complete Guide to the Futures Markets: Fundamental Analysis, Technical Analysis, Trading, Spreads, and Options" by Jack Schwager. (used on Amazon for $31) I started with this as my very first book for futures in 1984. Now learn how many trade these markets, but do not trade this way cause 95% lose. You need to know what everyone uses though. Unless you have unbelieveable perseverance and know how to program your ideas into a trading software like Ninja, anything less than 60 minute charts will be throwing your dough to the winds. After you have mastered that book, do everything opposite, that is how you make consistent money, you take the other side of trades of the 95% that lose. That's what I do, I trade failures. Profitable trades happen quickly or I get out. One hour charts and larger timeframes offers bigger reward to risk, as one gets smaller timeframes, reward to risk often becomes inverse, so unless your losing percentages stay under 10%, very hard to stay consistent. My ave trade on weekly basis is always between $22-34 bucks on original entry while risking $100-150. By averaging down, cardinal sin for most, my average goes up and risk comes down. Also, if you are paying retail commissions, they really add up greatly if you trade too much. Have a goal of two points PER contract and quit, if you can't make that in first 90 minutes of trading 90% of the time, you shouldn't trade. But I sincerely say, please don't attempt till you can compete against the best of the best. And no, you can't own the world in a few years, once you understand price movements, you don't want the rest of the world to know it, so you stay humble and don't put on hundreds of contracts at one price level. Good trading all. Am retiring end of the month after 25 years of day trading, going to continue with much longer term trading, big money is always there and so much less time to make it. NOW, I will be able to sit on that beach and soak up the rays with a pina colada, LOL.
Ok, David Tepper would be an exception. I hope you can see my point that selling the dream of fantastic monthly returns is much easier than making the trades yourself and risking your own capital. There are so many subscription or mentoring courses out there so that should tell us something, maybe that teaching is easier than actual trading?
This is completely outside the realms of reality, even in the prop world, with their crazy way of calculating returns. I'm perfectly willing to accept the fact that there are a handful of traders who get 400%+ annual consistently over the course of 3-5 years. Even that is only 15% monthly. And even then they are already using leverage to get that. Simply using 10X leverage won't get you to 50% on a consistent basis. Do the arithmetic and you quickly realize how crazy you sound. Let's say I join a prop with a measly $10K. At 50% monthly using their leverage I'm at $6.5MM after just one year. The next year I'm at just under $1 Billion and I'm on the Forbes list. I'd love to be proven wrong though. Please provide a single verifiable example of anyone ever getting 50% monthly for even 12 months straight.
Baccarat , 1.06% edge against you, find a good betting system. You'll get kicked out of the casino and have to find other ones once you start accumulating on a regular basis.