It's very simple. Traders who have a plan and trade the plan will succeed; those who stick their fingers in their asses, pull out a stock and timeframe and trade on the fly on emotion or with no idea where to get in or out will fail. Period.
A daytrading story on CBS news
- Thread starter Intrinsic
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Originally posted by limitdown
excellent post. I'm certainly going to have to tighten up my game. Gee, I wanna be just like you...
You can hope and pray all you want,but you will never be like me.
No but I'd rather trade with a trading plan that i know has worked in the past than the way most people trade.
lets see, 90k? Is that good? If I have $10,000,000 and I make more than 90K am I doing well?
If I make $12.50 cents a day I am doing extremely well if I am making that on an $1800 account. If I can keep that up for ten years day in and day out, I will have to move to a new website.
You are not impressing anybody when you throw out numbers, because we don't know if they are based on a ten year history or just the last year, and they are meaningless unless presented as percentage on equity. And percentage on equity is meaningless on margin because there is no such thing as consistency.
But you are being kind of rude when you belittle the traders that post here, and then turn around and ask them if they know of a site where traders of your caliber post.
1% a day is an admirable goal, but few traders can put 60% quarters back to back. I'm glad you are getting off to a good start. Hope you are able to make a go of it.
If I make $12.50 cents a day I am doing extremely well if I am making that on an $1800 account. If I can keep that up for ten years day in and day out, I will have to move to a new website.
You are not impressing anybody when you throw out numbers, because we don't know if they are based on a ten year history or just the last year, and they are meaningless unless presented as percentage on equity. And percentage on equity is meaningless on margin because there is no such thing as consistency.
But you are being kind of rude when you belittle the traders that post here, and then turn around and ask them if they know of a site where traders of your caliber post.
1% a day is an admirable goal, but few traders can put 60% quarters back to back. I'm glad you are getting off to a good start. Hope you are able to make a go of it.
Besides making money, trading offers freedom - i.e., you don't have to commute and you are your own boss. What is this freedom worth?
If I had the choice of taking a job for 90k/year or trading for 90k/year, the choice would be easy (no to the job, yes to trading).
Carl
I would give up a 90k job to make even 70k trading. That's how much I despise working for someone else. Just buy less stuff and live more peaceful.
Happiness is worth a lot.
Happiness is worth a lot.
the problem with quitting your job to trade for a living ( which seems to be the new topic of this thread ) is that you are forced to eat your seed corn. If keep working, and then swing trade on the side you have a chance to accumulate something. I don't want to be 5 yrs older with the same size account that i have now because I spent all my profits on living expenses.