But my sad tail it true, yours who knows, I could claim to be a billionaire, maybe I am and I just forget about it lol
Recommend to trade for a living ?
- Thread starter Street Trader
- Start date
But my sad tail it true, yours who knows, I could claim to be a billionaire, maybe I am and I just forget about it lol
I think most have retirement taken care of. However many do not. I guess they're living for today and not for tomorrow. Simple to sock away savings in RRSP for tax purpose. aka IRA, 401k, RSP I've even taken out loans to max out my contribution each year.
Many are surprised, retirement savings is a good investment. For example, a decent middleclass salary is about 100k. Income tax is about 40%. For every $ saved in RRSP is not taxed until you use it during retirement taxed at a lower rate. Try to get 40% return trading. Oh but some elite traders in here boast 20% a month, but they have no trading capital, or cash funded account experience.
I'm not a financial advisor, but i would recommend maxing out a RSP first. Any remaining funds used for investing in the markets.
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Not so simple when your down to zero before the next pay day.
That's why got to crack trading, but got to get back on first, if I don't get paid tomorrow then no trading for 4 weeks when I've got time to trade, will suck.
No comment.
The figures are correct, have just had them confirmed, 2%/mth gross, 15-20%/yr net.
After that you're going to hit serious problems in retail, and as already said, that range is lowering.
You're better off saving your money and forget about trading. The down side exceeds the upside. The market is not a lottery...
Whats your trading strategy "streettrader"?Here is my trading performance:
Is agree totally if I wasnt vaguely profitable, I'm up 30% last 3 weeks, but only had 4 hours maybe in total free to trade, so 30% in 4 hours
I'll give a chunk back soon, just trying to minimise that, then I'll be happy to trade more then easy life!
10years in approx, up about 5k usd over all which is nothing at all, but atleast is paying me to learn
That's what i mean, up and down you go. You'll be surprised how many end up in the hole overtime. I'm retired now and gave up on investing while i was working, nothing worked. I was trading like you. Up on a few trades, then down.Is agree totally if I wasnt vaguely profitable, I'm up 30% last 3 weeks, but only had 4 hours maybe in total free to trade, so 30% in 4 hours
I'll give a chunk back soon, just trying to minimise that, then I'll be happy to trade more then easy life!
10years in approx, up about 5k usd over all which is nothing at all, but atleast is paying me to learn
Then I worked at the exchange designing and programming quant algo's, and it clicked. You need big boy capital to make it work. It's all about capital preservation and percentage, annual return of 20-30% doesn't sound like much to a shooter like you but scale that to a few 100k and it's a living.
It's easy to make 30% in weeks on few k, but scale that for 12 months and you'll know what i mean. I guess it's similar to a salary, you earn one. But another game saving that amount in a savings account debt free. No mortgage, no loans, no debt, no credit card debt, zero. Once achieved, then invest...
I've got a fast Momo based not quite scalping but close to, that works pretty well, still tweaking but it's nearly there, few bugs in the user to iron out.
No ability to make loads of money, i started on $300 last time I added money 3years ago, turned that into 10K in 6months, back down to 3K area, but had to take from about 3K, dipped below 2K briefly while working on method account is climbing nicely.
I don't invest, I day trade DAX and Forex.
Lack of time is my issue, can't afford to close the business to just trade and don't really have much time to trade with the business.
Method only works in strong Momo, risk / Reward isn't there in flat markets!
