The treacherous path to $200k a year
- Thread starter coolweb
- Start date
Took a small break, one can really get burnt out working the markets,
After a small break and working on my other business, I'm back in with renewed energy.
Again I'm trading for the long term , Its always the long term that makes big money.
I had some new insights on labor day,
Small cap correctly invested can return in multiple sums.
Other insights:
Futures: Market seems to like to retrace a lot,
Market does not have a money support, it falls based on instrisnic value, but Individual equities have backers who will support their particular company when required. This is key.
After a small break and working on my other business, I'm back in with renewed energy.
Again I'm trading for the long term , Its always the long term that makes big money.
I had some new insights on labor day,
Small cap correctly invested can return in multiple sums.
Other insights:
Futures: Market seems to like to retrace a lot,
Market does not have a money support, it falls based on instrisnic value, but Individual equities have backers who will support their particular company when required. This is key.
coolweb,
Here is your opening post just 3 months ago.
I am now posting a journal since I started to convert my previous occupation (running businesses) into trading/investing for real. I want to make sure I succeed under all circumstances. Or else how would I pay for chow
So your back into you businesses and trading part time? May I ask you, what business(s) operate with such a short term horizon, such as you display? A lemonade stand on the corner perhaps?
Here is your opening post just 3 months ago.
I am now posting a journal since I started to convert my previous occupation (running businesses) into trading/investing for real. I want to make sure I succeed under all circumstances. Or else how would I pay for chow
So your back into you businesses and trading part time? May I ask you, what business(s) operate with such a short term horizon, such as you display? A lemonade stand on the corner perhaps?
No, I'm investing 1/2 time, business 1/2 time.
I have 7 hours a day, so I usually break it up between the two.
I'm manfacturing this product , was searching for some engineers to autocad the prototype.
Do note I Said investing, not trading, all my entries are done the previous week. I just wait for alerts to enter the trade.
I have 7 hours a day, so I usually break it up between the two.
I'm manfacturing this product , was searching for some engineers to autocad the prototype.
Do note I Said investing, not trading, all my entries are done the previous week. I just wait for alerts to enter the trade.
Take a deep breathe...try breathing in a bag...coolweb...
Not trying to provoke or sound condescending but 3 months is a really short time.
I think what ES was trying to get across was the fact that this business is not something with a short time horizon. If you treat trading markets half-ass it will kick you (among other things) in the ass.
Let me suggest some goals since you seem to be wandering around looking for something to latch on to.
1. Develop personal character goals based on discipline and honesty with yourself.
2. Watch price action everyday for the next year and attempt to develop a feel for the "tape". This is a personal feel unique to every individual. What works for me will probably not work for you.
3. Trade under assumptions from point 2 with 100 share trades until you are net positive in cents/trade. Don't worry about profits, worry about always controlling your losses.
4. 2 years with full time commitment and you will see some positive results. Longer if you are part time.
You do not need to listen to anything I say since you don't know me or my credentials. I will say that with enough research and time you will most likely come to the conclusions above. I trying to pass on a bit of what I've learned.
I'd like to hear your thoughts on points 1 and 3.
I think what ES was trying to get across was the fact that this business is not something with a short time horizon. If you treat trading markets half-ass it will kick you (among other things) in the ass.
Let me suggest some goals since you seem to be wandering around looking for something to latch on to.
1. Develop personal character goals based on discipline and honesty with yourself.
2. Watch price action everyday for the next year and attempt to develop a feel for the "tape". This is a personal feel unique to every individual. What works for me will probably not work for you.
3. Trade under assumptions from point 2 with 100 share trades until you are net positive in cents/trade. Don't worry about profits, worry about always controlling your losses.
4. 2 years with full time commitment and you will see some positive results. Longer if you are part time.
You do not need to listen to anything I say since you don't know me or my credentials. I will say that with enough research and time you will most likely come to the conclusions above. I trying to pass on a bit of what I've learned.
I'd like to hear your thoughts on points 1 and 3.
note:
I am not looking for advice on how to succeed in trading. Please do not give any advice. (comments on techniques allowed). This is a journal of thoughts
This will be posted in every post from now on.
Radarscan,
Currently I use finance.yahoo.com with their industry list to scan each industry on which ones are the up and coming industries
things I have noticed are pharm , healthcare , industrial materials.,
I'm going to pick up radarscan tomorrow and will code in some automated scanning tools to SAVE TIME!, too bad its $100
Thats $200 for TS per month, grr
but its worth it, good stuff and real time.
WIll test it out and tell you guys how it is.
time is of the essence.
I am not looking for advice on how to succeed in trading. Please do not give any advice. (comments on techniques allowed). This is a journal of thoughts
This will be posted in every post from now on.
Radarscan,
Currently I use finance.yahoo.com with their industry list to scan each industry on which ones are the up and coming industries
things I have noticed are pharm , healthcare , industrial materials.,
I'm going to pick up radarscan tomorrow and will code in some automated scanning tools to SAVE TIME!, too bad its $100
Thats $200 for TS per month, grr
but its worth it, good stuff and real time.WIll test it out and tell you guys how it is.
time is of the essence.