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Service like 10ppm.com
- Thread starter szaby_n
- Start date
Most services lose money, and generally, anyone who trades well is not going to waste time for a crummy $300 bucks a month from subscribers, even if I was getting $5,000 a month, it not worth my time of entertaining the subscribers. Most subscribers don't take all the signals or they try to add on whatever little knowledge they have to signals. I had a service long ago where I posted statements each day, never a losing month for 12 months, and some subscribers lost for months cause they skip signals or show up late in the session where goal was made.
Good traders trade for an hour and walk away.
Take your five grand and learn longer term trading for a few years, study price action and retracements. Trading is not rocket science. USE weekly bars for entries, you want to be able to stay into a trade for several months or even couple of years. When you have very little money, best is longer term trading and during this time, study study and backtest, backtest, backtest. All the truly big money is made in longer term trading cause much less commissions and reward to risk is far greater than day trading which most often times is less than 1 to 1.
Good traders trade for an hour and walk away.
Take your five grand and learn longer term trading for a few years, study price action and retracements. Trading is not rocket science. USE weekly bars for entries, you want to be able to stay into a trade for several months or even couple of years. When you have very little money, best is longer term trading and during this time, study study and backtest, backtest, backtest. All the truly big money is made in longer term trading cause much less commissions and reward to risk is far greater than day trading which most often times is less than 1 to 1.
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Trade markets that you might use, I love starbucks coffee when prices were low. But not all low price stocks are good, you want good volume and perferable an optionable stock, cause if it not going in the direction you want it to go, you can buy an option for a hedge to see if you can get out of stock at breakeven.
But always backtest till your eyes are bleeding, better to make sure you have a good set of rules in place so you know what to always do.
I prefer trading mostly the Dow 30, but once in a while will throw in something outside of them like Starbucks or JC Penny, if a huge investor buying a healthy position of something, I don't have to re-invent the wheel. Too many traders believe they have to make very complicated methods to outsmart the computers, but I like simple and done well trading easier methods. Wasted years thinking the more complicated the method, better the results, no so. Where you want to spend 90% of your time is studying what to do AFTER you get into the trade, learn what price patterns there are when markets get over extended.
It is just more fun to make 100-500% in one trade in a few years than doing 10-30 trades a day for alot less return.
But always backtest till your eyes are bleeding, better to make sure you have a good set of rules in place so you know what to always do.
I prefer trading mostly the Dow 30, but once in a while will throw in something outside of them like Starbucks or JC Penny, if a huge investor buying a healthy position of something, I don't have to re-invent the wheel. Too many traders believe they have to make very complicated methods to outsmart the computers, but I like simple and done well trading easier methods. Wasted years thinking the more complicated the method, better the results, no so. Where you want to spend 90% of your time is studying what to do AFTER you get into the trade, learn what price patterns there are when markets get over extended.
It is just more fun to make 100-500% in one trade in a few years than doing 10-30 trades a day for alot less return.