I have been watching market since i was sixteen. (for about 9 years paper trading since my parents never allowed me to have that kind of money...finally I graduated a college) Now I think I know when to enter and exit trades (Nasdaq stocks .QQQ etc) and have about $50,000 Do you think I should trade for myself or probably trade for a firm? I am scared of being my own boss.... Also I dont have any record of trading besides my own journal hehe about past 6months my average daily gain is like $2.93 per share(on paper) I thought I could do it myself I am very scared...maybe you know how I feel.
Interesting. If you assume an average share price of 50, and if you use 4:1 margin, you will have $30,000,000,000,000,000,000,000,000,000 by this time next year. Ah, wait! I didn't account for income tax. But that should only be a few sextillion bucks...
Now that's my kind of number (assuming I don't owe it to anyone) 30 OCTILLION just has a nice ring to it, doesn't it
anyone can make money "paper" trading. Trade with someone elses money until you KNOW you are profitable.
If you are scared of being your own boss, how frightened will you feel if you going a losing streak and watch your $50,000 dwindle away? 777
Enter the inanity. Seriously though, common sense says to do something like start with 100sh and add 100 every fifth trade or so(if you're up) until your up to something like $10k per position and then just keep turning the crank. If it isn't working you'll know it soon enough and get off cheap. Also, ask yourself what will happen to your account if you have say 5 losses in a row and what is the possibility of it happening. Like the line from Terminator "Be afraid, be very afraid."
If you do not take a leap you will never know. Ignore the fools who have nothing but smart comments, they are loosing money like me.
Thank you for the response but I dont know how you culculated the #s. well, I think that noone will put all of his money into one trade. especially If he has huge amount of money or shares that affect prices right? my way is like buying 500 shares per a trade (I trade KLAC) just get 25-75cents (sometimes a dollar or more) or so each time and risking 10-15cents but nowadays I will know before I risk 10cents if something goes wrong because Ive watching it more than a year. thank you.