newbies
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Beginner seeking guidance
- Thread starter Bennny
- Start date
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So that's 7-10mln cost over 3 projects? 100% yourself or investor group?
What returns do you expect to get out of the daytrading?
If you're trading leveraged then perfectly possible... but I wouldn't really do that if I were you.
A typical hedgefund makes 20-30%? So, again, I don't think you should get your hopes up
If it's your company and you have no partners, as income, why don't you pay yourself an income?
Not that it's any of my business... but I'm finding it hard to understand why you want to risk 50k for a measly 10k return while you're making good money in an area you know...
If it's play money... hmm, why not... if you really like the idea of daytrading. IMHO, it usually is f#$cking boring.
Well I'm sure as shit not going to risk a decent amount of equity when starting! $50k is a small amount that I feel comfortable with, learning the business.
I do pay myself an income from the company - that's not the issue.
The number one thing to being a successful developer is getting the right site, at the right price. Sometimes, there can be periods between completion of one, and acquisition of the next. Either no sites popping up, or when they do, they're overpriced and not worth pursuing.
With cash rates so low, I'd rather see my capital getting higher rates of return when in between sites, than sitting virtually idle.
Is the group consensus: I'm wasting my time, stick to my knitting?
Nothing is guaranteed...that's ever more so true in the trading world,
What kind of % returns do you want, or expect, to receive from trading?
I'm sure as you know...Risk and Reward go hand in hand,
You've got a long road ahead of you until profitability -- based on the questions you have asked,
I hope you're prepared to go the distance,
Trading is virtually gambling, and taking a pro-active approach. It's far different than the real estate investing world.
I don't think you're necessarily wasting your time, of course not. -- But just be aware of the survival rate of this game,
What makes you so special...over your fellow, average man -- if you can't answer this, you shouldn't be trading,
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Thanks Lawrence.
I honestly have no idea what to expect to receive. If you said, the top quartile of day traders is only making 10% pa, I'd say I'll stick to receiving lower rates on term deposits.
Developing is also gambling, in some respects. Every time I acquire a site, I'm betting that the market doesn't move from the current values I'm basing my resales on. Of course, it's generally far more stable.
I've built a company, and turnover this year will be more than most see in a lifetime. That's what sets me apart from the average man. But what traits make a successful trader? Not emotional, able to make decisions quickly based on signals/numbers, can stick to a plan? Similar traits to a successful developer.
I honestly have no idea what to expect to receive. If you said, the top quartile of day traders is only making 10% pa, I'd say I'll stick to receiving lower rates on term deposits.
Developing is also gambling, in some respects. Every time I acquire a site, I'm betting that the market doesn't move from the current values I'm basing my resales on. Of course, it's generally far more stable.
I've built a company, and turnover this year will be more than most see in a lifetime. That's what sets me apart from the average man. But what traits make a successful trader? Not emotional, able to make decisions quickly based on signals/numbers, can stick to a plan? Similar traits to a successful developer.
There is no right or wrong answer...a new trader can say anywhere from 1% to 10,000% -- I'm just trying to obtain your frame of mind, -- both are obtainable by the way,
You seem relatively successful already running your company...What would make you want to enter and switch to trading for?
A totally new and strange and different and weird world for you, I must imagine,
Trading and investing, as I've mentioned, are virtually completely different worlds. and mindsets and personalities.
The two, I think, are generally not intertwineable. You're either great at one or the other,
People usually mention Emotions in trading in a negative light -- But emotions are an integral part in trading,
Because trading is part art, part science...and emotions encompass some of that collective picture,
Is the chart moving in sync with science/facts, or a mixture of weird ways/the art part...
Be aware of potential support/resistance levels...how happy can it get, or sad can it get...
Try to do this, or study and follow it...for a broad daily chart index like the S&P 500, or DOW,
Before the opening bell rings, draw up potential behavior patterns in your head, -- and see how they loosely generally match the day's pattern,
You will be wrong sometimes, sure -- But how well can you manage and sense and adjust to that is just as important,
You seem relatively successful already running your company...What would make you want to enter and switch to trading for?
A totally new and strange and different and weird world for you, I must imagine,
Trading and investing, as I've mentioned, are virtually completely different worlds. and mindsets and personalities.
The two, I think, are generally not intertwineable. You're either great at one or the other,
People usually mention Emotions in trading in a negative light -- But emotions are an integral part in trading,
Because trading is part art, part science...and emotions encompass some of that collective picture,
Is the chart moving in sync with science/facts, or a mixture of weird ways/the art part...
Be aware of potential support/resistance levels...how happy can it get, or sad can it get...
Try to do this, or study and follow it...for a broad daily chart index like the S&P 500, or DOW,
Before the opening bell rings, draw up potential behavior patterns in your head, -- and see how they loosely generally match the day's pattern,
You will be wrong sometimes, sure -- But how well can you manage and sense and adjust to that is just as important,
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Definitely would never make a complete switch, I love doing developments. There's a tangible element that's not replicated in any other business.
Completely different and new world! It's so incredibly bizarre, that with the correct clicks of a mouse, the elite traders make triple digit annual returns.