One of the reasons I like Position Trading

What kind opf trader are you?

  • I am a position trader

    Votes: 132 27.7%

  • I am a swing trader(overnight)

    Votes: 137 28.8%

  • I am a day trader

    Votes: 207 43.5%
  • Total voters
    476
Quote from dozu888:

From a broader point of view -

The mere fact that we are hear on this board, indicates that everyone of us is persuing a goal - a success in trading for profit.

What are we trading? commodities, stocks, futures, whatever?

Wrong - we are trading our resources for profit, and that includes human resources and monetary resources.

By rough estimation, 95% or more of the ETers have more human resource than monetary resource - in the sense that they would probably earn more by working a regular office job than by trading full time.

Conclusion - for the majority here, the path to success is to fully utilize our resources, by working a regular job, and position trading/investing.

A decent college grad with a BA or MBA can reasonably strive for a $100k job within 5 years of graduation (with passionate work, and a bit of luck), plus maybe $20-50k income from his accumulated portfolio... The chance of achiving this would be better than 70%

What can a full-time trader earn, after 5 years, with 70% certainty? net loss? zero? small gains? certainly not 120-150k.
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Bingo, and just like that we have todays winner!

Congratulations!

Regards

Johno

p.s A smart person here in OZ can earn 200-300 K/ year, with basic skills in the right area, so why would they waste their time trying to beat the Roulette Wheel?
 
Quote from Johno:

Bingo, and just like that we have todays winner!

Congratulations!

Regards

Johno

p.s A smart person here in OZ can earn 200-300 K/ year, with basic skills in the right area, so why would they waste their time trying to beat the Roulette Wheel?
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On a further note - there is nothing in the financial world quite so awsome as the magic of compound returns!

Best Regards

Johno
 
Quote from Buy1Sell2:

Less commissions--My brokerage house doesn't get as rich off of me. I get more profit per commission.
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Use InteractiveBrokers at a $1 a trade no worries.
 
Quote from Buy1Sell2:

This is very very true and continues to be so
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how has your trading been going sinse you started this thread? are you trading new markets, or learning new styles?

cm69

p.s what do you think of csco long, with a stop at 14?

thanks
 
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