Problem with most traders (and probably you as well), they never get to the 20% yield per year.
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I'm so LOST and feeling stupid. This is very long!!
- Thread starter aalluubbaa
- Start date
Problem with most traders (and probably you as well), they never get to the 20% yield per year.
If it comes to that, you can do 20% per year by doing nothing more than buying and holding a basket of beaten-down high dividend paying stocks and reinvesting the dividends to compound the gains. When this mess ends, the stocks will recover so you can have both income and speculative gains.Quote from Compulsive:
Problem with most traders (and probably you as well), they never get to the 20% yield per year.
And which stocks are those? Google Finance is your friend. Now start doing your homework.
For a TRADER, 20% is pathetic unless you're managing a lot of money. However, for an INVESTOR, 20%-25% is reasonable. Note the difference: A trader is active and shorter-term oriented while an investor is rather passive and longer-term oriented. Over the longer term, the markets have an habit of un-doing previous moves.Quote from geoMEAN:
20% a year, every year is not pathetic regardless the type of trading. If you can do that, and establish a track record of doing that with relatively low drawdown, you will have rich people banging on your door throwing you their money to manage.
Quote from aalluubbaa:
I cannot trade, PERIOD. For a long while, even when I was losing/not making money, I could find some "reasons" and try to make something positive out of it.
I started to day trade last year in a prop firm from febuary to june. Didn't really blow my 5k accout but had like 1 k left. I didn't feel all that happy but it was ok because i found out later that i got completely robbed by having a 1 dollar/100share commission. Ya, so buying and selling on 100 shares cost me 2 bucks!! I still managed to trade almost half a million shares during that half a year and not blowing my 5k completely.
I stopped trading for like half a year and found a few profitable traders to rent an office to trade. They were all formal Swifttrade traders. They are all contrarians!! I see them average down all the time and take small profits. Their winning percentage is extremely high like 80 to 90 percent. They scalp and average down and make money 8 out of 10 days. I don't like their method and I don't think I can trade their method because when i started to day trade, I trade trend and averaging UP.
Now I have no idea what is right and what is wrong!! I have to admit that i have no methods. Ya, it sounds pretty stupid but i just look at support and resistence and the market. If i feel that the market is ranging, i will go long on the support. So basically i make/lose money of rangin market and trend market.
This monday and tuesday i made some money real quick trading range. On wednesday, i traded range the first few times and traded trend because i "imagine" that the market will go up so i keep on going long whenever spy is breaking new highs. On thrusday i was scared of trading trend so i was picking bottom the entire time and had a rediculous 5% winning percentage. On Friday i was averaging down and died real fast.
The only thing mabbe im still "happy" is that there isnt a signle trade that killed me. its always a series of small losses without any winners.
Last night before i slept, i feel like i have be so confused and lost. Because i have no idea what to do. What i learned was to trade trend, and everyone in my trading room is trading "counter-trend" and make money every month!!
I looked at how they trade and i dont think i can learn from them. They hold on to "huge losses" and average more down. they have the discipline to make some money on "every pullback." I cant do either. They win almost every day but only when there is a stock going one direction without even a 10 precent pullback. Good thing about their max loss of the day is that they will be stopped out in days like that.
To me, their method do have an EDGE. But its an edge i cant learn. How the heck do i trade trend when every single one of my collegues r going counter-trends? And you know that they will make money this month and i am just a friggin noob.
I NEED SOME SERIOUS HELP. Any strategy that requires discipline of cutting small losses can fit into my tradying style.
Thanks for reading this long and dull post!
Have a look at all of the scripts on wl4.wealth-lab.com. Every single possible system you could come up with is there, and already ranked for you. Not that I advise trading any one of them, certainly there's some that would work, but that this is a repository for every single trading idea ever devised in the last ten years.
Quote from bwolinsky:
Have a look at all of the scripts on wl4.wealth-lab.com. Every single possible system you could come up with is there, and already ranked for you. Not that I advise trading any one of them, certainly there's some that would work, but that this is a repository for every single trading idea ever devised in the last ten years.
Hey dude,
Put this one up there for me. lol.....
Attachments
Quote from TapeFighter:
It's common sense. Assuming your goal is a $100.000 yearly income, at 20% yield you'd need a $500.000 account as startup capital. That's just insane, dude.
I was speaking to the person that started this thread and was having difficulty. Inadvertently saw he started the thread in March, so I guess he's gone.
I didnt read the whole thread, but I'll chime in...
I would suggest you trade the Qs, every day... or the SPY or whatever index ETF, but I suggest the Qs.. The Qs have ample volume, penny bid/ask spread & you don't have individual stock risk... Maybe just watch it for awhile on different time frames. Consider a simple system buying support and selling resistance. When you are ready to trade, try to force yourself to take the best trade you can according to your plan/system - maybe limit yourself to two trades a day with say a dime stop loss, so your maximum daily drawdown is like 20 bucks plus commish & slippage. But note thats 2 trades a day, not just 2 losers before stopping. Focus on trading the plan/system, not making money - you can always adjust the system if you are getting out too early, staying in too long or whatever... focus on discipline & patience, not making money... if you are buying S and selling R, plan to stay out of the middle of the road. After market hours, go back & review the chart & see the trades you took & the ones you didnt take and THINK.
At $20/day max stop, you can trade for like a year with $5,000... which is alot less tuition than most pay.
and w/o starting a food fight, i would read through the first 60-100 pages or so of Anekdoten's (spelling) thread as a primer to see if it gives you any ideas.
I would suggest you trade the Qs, every day... or the SPY or whatever index ETF, but I suggest the Qs.. The Qs have ample volume, penny bid/ask spread & you don't have individual stock risk... Maybe just watch it for awhile on different time frames. Consider a simple system buying support and selling resistance. When you are ready to trade, try to force yourself to take the best trade you can according to your plan/system - maybe limit yourself to two trades a day with say a dime stop loss, so your maximum daily drawdown is like 20 bucks plus commish & slippage. But note thats 2 trades a day, not just 2 losers before stopping. Focus on trading the plan/system, not making money - you can always adjust the system if you are getting out too early, staying in too long or whatever... focus on discipline & patience, not making money... if you are buying S and selling R, plan to stay out of the middle of the road. After market hours, go back & review the chart & see the trades you took & the ones you didnt take and THINK.
At $20/day max stop, you can trade for like a year with $5,000... which is alot less tuition than most pay.
and w/o starting a food fight, i would read through the first 60-100 pages or so of Anekdoten's (spelling) thread as a primer to see if it gives you any ideas.
learn to trade fibonacci. EVERY stock will pullback at some time, ON EVERY time frame no matter how long or short, should it be an intraday, 1hr, 15min, daily, weekly and so on.
not only do these work because stocks MUST retrace, they work because a lot of people look at their levels (38, 50, 61%) and react to them (especially in forex)
this is really just pure s/r trading at a basic level.
Dont confuse this with Elliot wave..its NOT the same thing.
cm69
not only do these work because stocks MUST retrace, they work because a lot of people look at their levels (38, 50, 61%) and react to them (especially in forex)
this is really just pure s/r trading at a basic level.
Dont confuse this with Elliot wave..its NOT the same thing.
cm69