Trade for a living: Advice wanted...

[Eko_Trader]

Quote from vayu:

Thanks to everybody for the replies.

By-the-way, what do you think about trading style, which one is better? Daytrading? swingtrade? or maybe options? (I do not consider futures and forex at all).


Merry Xmas!

I would advise that you find what works for you. One thing about this market is that what works for "A" doesn't necessarily work for "B".

I personally trade everything except for options and forex (At least for now). I trade the ETF's alot because they trade within a range....along with technical analysis, Of course. I also trade the TF because it also works well with my analysis.

However, I rarely trade the TF (Russel 2K futures) as a swing trade unless I I'm confident of my analysis of the market's direction within the next couple of days. I do swing trade my stocks. Like buying my WMT under $53 is good enough for me....and POT, FCX at beaten down numbers is something I don't mind holding for a couple of weeks.

Bottomline...Look for what works for you. There's no shame in papertrading to find that out.

Goodluck

 

[makloda]

Quote from vayu:I need at least 60K a year for a living and I have about 350K available for trading. So I have to make about 20% a year to cover my expensies and inflation.

My question is quite simple: is it REALLY possible? I mean is it possible to make 20% in average from year to year during the _LONG_ time??

Yes, very possible. Actually very reasonable. Remember one thing though. Averaging 20% could mean annual returns of 38%,-2%,11%,29% over a 4 year period.

How do you survive years 2 and 3 without touching your principal. What if you have a 20% drawdown?

Things to consider...

 

[tradersboredom]

warren buffet said he can make 50% annually if his account size was under 1 million. and yes warren is PROFESSIONAL and if he needed to daytrade or trade for a living i'm sure he'll make 100% annually on $350,000 portfolio EASILY

with $350,000 you can buy a real business and not trade the market.

if you can't trade hire a broker or professional trader to trade you accoun for you. any pro can make 50% ROI on the $350,000.

Quote from vayu:

Hi All!

I made my first trade in 1998.. It was not serious, I was just curious about... For the last ten years I traded from time to time, I had some profit and some losses, the biggest loss by the way was made when I hired a "professional advisor". The total result is close to zero (minus inflation).

I had a small Internet business that generated a solid income for me, so I never considered trading as a serious income source.

Unfortunately things have changed recently... Probably in the near future I will lose my business... and what's next? I used to be a free person. I am not sure if I can start another profitable business in the Internet, so trading seems to be the only suitable income source for me.

I need at least 60K a year for a living and I have about 350K available for trading. So I have to make about 20% a year to cover my expensies and inflation.

My question is quite simple: is it REALLY possible? I mean is it possible to make 20% in average from year to year during the _LONG_ time??

I saw a lot of traders who had a good results but then lost a lot of money. Sometimes I think that the only way to be profitable is to sell advices to others .

Does anybody have a positive experience??

Thanks a lot!

 

[tradersboredom]

that is your problem your not a PROFESSIONAL.

HIRE A PRO to trade for you.

stick to your internet business or real job if you can't trade. and don't complain if you can't trade.l

Quote from vayu:

Hi All!

I made my first trade in 1998.. It was not serious, I was just curious about... For the last ten years I traded from time to time, I had some profit and some losses, the biggest loss by the way was made when I hired a "professional advisor". The total result is close to zero (minus inflation).

I had a small Internet business that generated a solid income for me, so I never considered trading as a serious income source.

Unfortunately things have changed recently... Probably in the near future I will lose my business... and what's next? I used to be a free person. I am not sure if I can start another profitable business in the Internet, so trading seems to be the only suitable income source for me.

I need at least 60K a year for a living and I have about 350K available for trading. So I have to make about 20% a year to cover my expensies and inflation.

My question is quite simple: is it REALLY possible? I mean is it possible to make 20% in average from year to year during the _LONG_ time??

I saw a lot of traders who had a good results but then lost a lot of money. Sometimes I think that the only way to be profitable is to sell advices to others .

Does anybody have a positive experience??

Thanks a lot!

 

[anonymous]

Quote from tradersboredom:

that is your problem your not a PROFESSIONAL.

HIRE A PRO to trade for you.

stick to your internet business or real job if you can't trade. and don't complain if you can't trade.l

I just did a quick Google search on hiring a trader and came up with nothing instructive. I've been wondering about this for a while.

How does one go about hiring a trader? How much capital does one need to provide?

Thanks,
- Andrew.

 

[DrEvil]

Probably you can achieve your goal. The problem is you won't be at that stage for several years. If you trade as small as possible in the meantime and try to keep your expenses to a minimum you have a chance. Work very hard at it. Best of luck.