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I checked the thread on Washington, several guys told him he needs to make a grand a day. Some of the threads are a waste of time, but I really enjoy most of them, like the one on Washington.

Good luck, give us an update in a couple months

Don't get me wrong, I think you are doing great. But your question was what should your profit goal be to be considered a good trader, (not a star, but really good!) As a GOAL....., $600 on 50,000 is not enough. As a average result, well its great. Praetorian2 makes it clear with your...

You asked the wrong question, its hard to get numbers out of anyone, they all like to talk in generalities. If you were reasonably good you would be doing much better than $600 a day with 50,000 capital. Easy for me to say. Prop houses are different because they...

the Bush recession is OK for traders but it is killing investors, and without investors, traders have no one to feed off of. So I guess its very bad for traders and God awful for investors. It is hard to find anyone who has confidence in Bush/Cheney on economic matters

Charts always make the most sense after the market is closed, although I confess to keeping 30 chart windows open at all times

Thanks for the advice. I trade Nas 100 stocks, but I will stay at 500 until Supermontage and then make a decision as to whether to move up or not, and will take your advice to move slowly. I find with 500 instead of 100 I not only move more volume, but am slightly more cautious. It seems to work.

After using a default order size of 100 for 2 years I finally changed it to 500. This did wonders for my profitability. I went from making average net $200 per day to over $500 per day overnight. I'm a very short term scalper. For others who are too cautious to make the jump, give it a try...

What I do is "Buy stock, cross my fingers, and pace around the room" or "Short stock, cross my fingers, and throw my pen" This could use some wordsmithing before being put on the resume.

SE made a good point about the importance of MA's, although I used weighted MAs on an interval chart using 12 intervals, spaced 10 seconds apart, rather than 1,2, or 5 minute charts. (with 5 minute charts I find it is over before I get a signal). When SE posted something about using 222...

SE, when do you enter a trade?

lol Chasinfla makes a real contribution, and is definately female, probably more like Julia Roberts or Maria.

I really enjoy these posts. Its interesting to see how diverse traders are once you get them away from trading. Peter and Chasinfla are both Christian types, judging by their posts, (they both quote scripture) yet they don't agree on much once you get them off trading. Peter makes a good...

Based on private messages I will just answer here with more details for all to see. In 1999 I took a course at Broadway Trading in NYC and got caught up in the hype. Quit my job, traded on their Watcher system. I paid 2 cent per share commission, made 10K one day and lost 25K the next. I...

OK if you must know, I lost 300K in 1999, my first year, and I've been making it back but I'm still down about 150K. Yesterday I traded 30K stocks and made a measly $300, so you see its going to take another year or two to get even.

As hockey great Bobby Hull once said: "My wife has made me a millionaire, I used to be a multi-millionaire" On a smaller scale daytrading has done that for me, but hope spring eternal. Anybody else lost money?

being long and short at the same time sounds like a great way to pay commissions and tie up your money without getting anywhere.

It doesn't have to be men in black The futures crash on the WCOM news in the premarket, then the market says, hey, that stock was already under a buck when this news hits, so maybe we're over-reacting, and the market moves up. Then the Xerox news hits for Friday. The market says, hey, if...

They have some decent traders, but they will fly More business for IB Canada.

I'm hopelessly biased towards being a bull. Now I'm just hopeless.