You make 60k a month from home!!! I Have to ask you what is your trading capital and what broker do you use???
Hey guys, now there's a goal worth shooting for!!! Cheers to all you cowboys, make your profits, and build your house in the parking lot, uh, country.....
QuietButDeadly, making 60k minimum a month from home If that's minimum, as you say, then you must be raking in around a cool million per year. I know that I'm certainly impressed with someone who's first post tells the tale of making the big $1M from home. Please do share some of your strategies.
I swing trade. I trade fear, I trade greed. I trade support, I trade resistance. I allow room for error. I sector trade. I watch current leaders for direction. I watch the Biotechs and P/C ratio for sentiment. I read IBD, Barrons, Economist, Newsweek, Time, Businessweek, Money, New York Times, Washington Post. I guage sentiment. I watch economic numbers and how the market reacts. I trade beta. I daytrade breakouts and sometimes retracements. I look for 1% to 1.5% on my daytrades. I look for 8 to 10% on positions trades. I make my bread and butter on the daytrades. I make my steak and wine on the position trades. I scale in. I scale out, read : allow room for error. I use volatility bands. I use stochastics. I do not used prepackaged parameters. I use moving averages. I use half day charts. I do not follow anyone's advice. I am a lone operator. I taught myself. I curve fit my indicators sometimes reversing the prepackaged parameters. I use T/D supply/demand lines. I use Fibonacci retracements only to see what others will do. I've been long the market for 1 1/2 weeks and see the market rallying till January-February timeframe. I prefer wisdom. I prefer discipline. I prefer to allow myself to make mistakes. I learn from my mistakes. I don't make many anymore. I remove emotion with stops and trailing stops. I pay myself everyday by taking profits on positions no matter what I see. I prefer to sit sometimes like I have been doing since WED last week. I believe I do not know. I apply my edges. I define the risk. I accept the risk. I let the market trade. I add heavily when I am right. I scale into losers but reduce size each time. I believe I do not know is my biggest success. Good luck.
The capital I use is 1 million. Now is 60k on 1 million that hard? During the months of June, July, it was difficult. But I achieved it. The following months were a piece of cake. This three day month has already shown me 30k. Not boasting. But when everyone starts thinking on dollars its the wrong way to think. One should always think in terms of rate of return on your money. Gamblers think in terms of dollars. Speculators think in terms of rate of return. Good luck.
I agree the more important performance indicator is return on capital. I`m amazed how prop. trading firms rely so heavily on cents/share results. Granted alot can be learned by looking at a traders cents/share numbers but bottom line return on capital should be the standard.I think once prop. firms start using ROC in allocating firm capital they will see better results to the firms bottom line.
>I swing trade. I trade fear, I trade greed. ...<snip> I think there's only one thing you forgot to say -- "I only trade NVDA". JB
Turok, I think there's only one thing you forgot to say -- "I only trade NVDA". LOL. Gawd, for a moment there I thought the whole thing was an ad for that Mercenary software. Quiet But Deadly, The capital I use is 1 million. Now is 60k on 1 million that hard? First off, you made it clear that 60K was the minimum you make per month. Even so, that's 6% per month, month in and month out, or $3K every single day on average without fail. Is it possible? Sure. Then you said: I prefer to sit sometimes like I have been doing since WED last week. However, you followed it up with: This three day month has already shown me 30k. Not boasting. Of course we appreciate that you weren't boasting. But I'm not understanding, did you take the time off as you said, or did the market show you 30K? Maybe by "sit" you meant you were in the market and holding (large) positions for those 3-4 days? During the months of June, July, it was difficult. But I achieved it. You da man! Continued Good Luck with your trading.
Sitting is the only way to make large profits, yes sitting as in holding positions. Once again, gamblers think in terms of I got to make 3k per day. Speculators look at general market conditions, use their experience, and eploit the market for all its worth. Like I said, I make my bread and butter trading intraday, and the steak and wine on positions. That means sitting, waiting, not trading and gaming every swing. 6% is not that hard when you have had volatility in the last 4 years like we have had, especially when you have 20% moves in two days on stocks like AMD. Granted, it's a helluva a return and one that probably is not feasible with managing multi-millions. THere just isn't the liquidity in the market place and if there is you'll probably lose some percentage points on individual issues as you scale the stock. It's possible and thanks for the best wishes. To you too. GL