The treacherous path to $200k a year
- Thread starter coolweb
- Start date
Hi,
I have a uncle who has taken courses to swing trade and
still is doing these courses by phone with a tuitor. He said that
he would pay for me and wife to do these courses, but lately
I have not heard anything about this. He is not doing any real
trading yet just paper. I get the feeling from this web site
and this thread that to make money by trading is very difficult
and risky. That to be successful takes much time and effort
and even then you may lose your butt.
I am thinking that for me it would not be worth it if you have
to spend so much effort at it. Is this correct, that you have to
live and breath trading and stay on a computer to have a chance
to be successful and at that you still have a good chance to fail?
Thoughts?
Dan
I have a uncle who has taken courses to swing trade and
still is doing these courses by phone with a tuitor. He said that
he would pay for me and wife to do these courses, but lately
I have not heard anything about this. He is not doing any real
trading yet just paper. I get the feeling from this web site
and this thread that to make money by trading is very difficult
and risky. That to be successful takes much time and effort
and even then you may lose your butt.
I am thinking that for me it would not be worth it if you have
to spend so much effort at it. Is this correct, that you have to
live and breath trading and stay on a computer to have a chance
to be successful and at that you still have a good chance to fail?
Thoughts?
Dan
Dan,
I'll answer your question since you seem to be very interested in more information.
First of all, your attitude, while is quite non chalant (which is fine for life), it doesn't work in business.
You either want it or you don't, there are no in betweens, In betweens produce half ass results. So if you want to succed in trading, you need to burn your backup ships, and dive head first.
Second, the way I trade is different from how other people trade, I use tradestation which is automated.
It alerts me when possible trades come up by cell phone email.
I take 5 minutes to scan over $COMPQ $INDU charts each night.
If they are where I want them to be, I turn on my cell phone tomorrow and wait for alerts.
So basically, theres no work invovled. No watching, I Sit out and stroke my whatever and run my other business , manage my guys, rake in consistent money elsewhere.
I am in this business as a investor, not as a trader. I have other shit to do then sit around then staring at the screen 24/7.
I don't aim to do 2000% a year, I can do 20% and have well over a XXX,XXX appreciation.
Of course to have the system, you must know the markets inside out before you can tell it what to alert you with. It ain't easy to come up with that in the first place. Life is not easy. Success is not easy.
But after you hit a turning point, everything is easy.
You can hookup with a fat girl anytime but then you don't want to.
Its only easy when its already too easy.
Get it?
I'll answer your question since you seem to be very interested in more information.
First of all, your attitude, while is quite non chalant (which is fine for life), it doesn't work in business.
You either want it or you don't, there are no in betweens, In betweens produce half ass results. So if you want to succed in trading, you need to burn your backup ships, and dive head first.
Second, the way I trade is different from how other people trade, I use tradestation which is automated.
It alerts me when possible trades come up by cell phone email.
I take 5 minutes to scan over $COMPQ $INDU charts each night.
If they are where I want them to be, I turn on my cell phone tomorrow and wait for alerts.
So basically, theres no work invovled. No watching, I Sit out and stroke my whatever and run my other business , manage my guys, rake in consistent money elsewhere.
I am in this business as a investor, not as a trader. I have other shit to do then sit around then staring at the screen 24/7.
I don't aim to do 2000% a year, I can do 20% and have well over a XXX,XXX appreciation.
Of course to have the system, you must know the markets inside out before you can tell it what to alert you with. It ain't easy to come up with that in the first place. Life is not easy. Success is not easy.
But after you hit a turning point, everything is easy.
You can hookup with a fat girl anytime but then you don't want to.
Its only easy when its already too easy.
Get it?
the market , at the moment doesn't look too healthy to me.
So I assume I might be breakeven for all the positions.
I'd close now but,
why bother?
heheh
why bother?
Just let it ride! ,
but yeah, I don't think this market might be going up, Monday should tell the whole story.
But who cares, I'm riding on the markets money. I don't give a shit
When the shorting time comes, You know I got game.
Theres nobody who shorts like me,
2 tick stops on YM , I can enter a 20-30 contract position without flinching baby
200 point targets!
I might close some long positions before 4:00
I'm not holding positions without a cushion as well.
So I assume I might be breakeven for all the positions.
I'd close now but,
why bother?
heheh
why bother?
Just let it ride! ,
but yeah, I don't think this market might be going up, Monday should tell the whole story.
But who cares, I'm riding on the markets money. I don't give a shit
When the shorting time comes, You know I got game.
Theres nobody who shorts like me,
2 tick stops on YM , I can enter a 20-30 contract position without flinching baby
200 point targets!
I might close some long positions before 4:00
I'm not holding positions without a cushion as well.
WLP close 73.51 +0.16
WC close 75.46 +0.10
VZ 31.43 +0.29
I may re-enter on monday
Non performing stocks ,
At the open they already gave me a bad sign. I didn't expect them to perform well straight after for the day.
Should have hunted for better stuff , but I was hoping to set it and definately forget it for 5-6 months
Although, I never forget where my stops are. Long term may be long term, but when I put down a position, its always perform NOW. I will always be profitable like this. No positions get differnetial treatments.
WC close 75.46 +0.10
VZ 31.43 +0.29
I may re-enter on monday
Non performing stocks ,
At the open they already gave me a bad sign. I didn't expect them to perform well straight after for the day.
Should have hunted for better stuff , but I was hoping to set it and definately forget it for 5-6 months
Although, I never forget where my stops are. Long term may be long term, but when I put down a position, its always perform NOW. I will always be profitable like this. No positions get differnetial treatments.
lol... This thread should be called "Coolweb shows us how not to trade". These are classic newbie mistakes that will result in account closure soon enough.
I'd close now, but why bother?? lmao...
Have you noticed that no one is following this thread?
Congrats coolwhip, you are officially the new ET village idiot. It's actually good because you slowly start to get more page views as people check in to see what new b.s. you are spewing, or what new mistakes you are claiming as victories.
