Because when you get past the learning curve and develop confidence you go into each day knowing you'll make money no matter whether the market moves up or down.
It is not difficult to scope out the people of whom you speak and ID with. I am not amomg them nor do I have to deal with any of those topics. Being amateur is where to focus. Being successful does not require full time trading. There is an unliimited amount of money to be made by starting small and growing capital at a fantastic rate. No significant personal traits are required either. There are no barriers either. By seeing the oppotunity, a person becomes incentivised and he follows through by doing the work. The game plan would be to get a computer and load it properly and trade a smalle account and compomd it up to a reasonable level in a matter of weeks. Just use a selected list of stocks and trade them, on average 2 times a week for 10% a turn. Do futures indexes similarly but on an intraday basis doing 15 to 20 trades a day at a low multiple of the daily range. To do trading your meed a routine MADA and a pattren to trade. (B2B 2R 2B) is simple since it appears on all fractals. The bridge from beginner to expert is to know how markets work;the profits take care of themselves. Uncertainty comes from not doing the work to know what is going on. Risk is only present when a person has not done the work to become competent to know and understand that there is no risk when keeping on the correct side of the market. General data about those failing is not a concern of a person doing the work to succeed. Anyone past 5th to seventh grade can learn to be a successful trader. stocks and indexes move in cycles using one pattern. The pattern is an order of events. This allows any person to always know that he knows all the time. Anyone has the right to take exception to what I say. The details of creating a contrary position would center on how you could not learn to drive a car. The same parts of the mind are used for successful trading as are used for successful auto driving. Skillful auto driving is not filled with uncertainty. Neither is it risky. Learning to drive a car has a low failure rate. make a plan to learn to trade by using the plan you used to learn to drive a car.
"stocks and indexes move in cycles using one pattern. The pattern is an order of events. This allows any person to always kow that he knows all the time." and tacos with EVerything are for when you're drunk. I need to stop messing with crazy chicks here or stop going out after midnight. If these kids can't learn to drive they can't learn to trade. /thread
I bought the e-book after reading your post. A litt le disappointed that he doesnt think "I got suckered" Barney Frank was responsible for the housing mess.. also, he refers to Joe Biden as "Distinguished"?! So far its a good read though despite his liberal digs . Thanks for posting the quote.
I don't care for Democrats either, but it should be irrelevant to trading. As Jeff Miller stated in his blog <b>A Dash of Insight:</b> <blockquote><i>Do not allow your political opinions to interfere with sound investment decisions. Join me in being politically agnostic -- willing to make money no matter who is in power. Remember that the stock market has done very well (or poorly) with various combinations of partisan control. This is the most important rule.</i></blockquote> Incidentally, I understand Dr. Brett Steenbarger has joined SMB Capital. The good doctor is the reason I post under the user name Roark because of this discussion in <b>The Daily Trading Coach:</b><blockquote><i> When you read The Fountainhead, it's instructive to reflect on how Howard Roark would approach the field of trading. Would he join a proprietary trading firm that frantically searches for stocks in play, robotically fading moves or chasing strength or weakness? The mere thought is ludicrous. Would he attend a few seminars or read a couple of books and trade the same untested chart patterns as other beginners? It's unthinkable... [E]conomic success for trader Roark would be a tangible indicator of his efficacy and the rightness of his efforts. It is effect, not cause. He doesn't trade to simply make money or more than he builds to sell homes and office buildings. Roark the architect built because that was what he was meant to do... His work is an extension of who he is; his profits are the result of years of effort and integrity.</i></blockquote>
I want to offer a college education to 12 (so far) of these. If I'd quit offering to watch them I might get more screen time.
I would not say that trading is a very easy source of earning or the risk level is very low but i am telling whenever you get even a little success in trading after so much success you really feel like you ahve achieved something.
Question is whether trading is a passion or work? If its work why bother, you can do other things with good pay, very little risk and good quality of life.
I just went to sleep and wokeup with bags of money on the markets from positions. hard work? Its only hard if u don't know wtf u doing!