I'm sure many of threads are open on this but I haven't found them yet! Anyway, who here trades in the markets as a business? If so, what are the advantages? Also, do I have to have a monthly cashflow in and out comming? All the advice would be appreciated.. Thanks!
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Trading as a Business..
- Thread starter TradingBillions
- Start date
Quote from TradingBillions:
who here trades in the markets as a business?
almost any serious trader
"who here doesn't trade in the markets as a business? "
curious people who have saved some money and don't know what to do with it
people who have a tendecy of making 50$ a day for a week and loosing 2000$ in the next week
insiders
those who also pay for lottery tickets
gamblers
those who have decided to commit suicide but didn't have the guts to, so they put all their money and get loans to trade with and when they loose it all they gain enough balls to kill themselves
those who think they are the best and they can do it when no one else can
people who believe in cramer
and many more
Quote from TradingBillions:
If so, what are the advantages?
money, that is if you can really play the market
the excitement of watching your trading account as you loose money
Quote from TradingBillions:
Also, do I have to have a monthly cashflow in and out comming?
yes, it's not easy to be working at another job if you are thinking of becoming a serious trader, unless you get to sit at work doing nothing all day and have a computer (of coarse with internet access) in front of you
the best option is you should already have a business that produces equal amount of money that you can loose at maximum without your supervision, like put $10,000,000 in the bank, keep it in the bank, and trade with the profit you get from the bank
or a nice mom and dad who are willing to cover all your losses
Quote from TradingBillions:
All the advice would be appreciated.. Thanks!
You are welcome ... Good Luck!
Quote from TradingBillions:
I'm sure many of threads are open on this but I haven't found them yet! Anyway, who here trades in the markets as a business? If so, what are the advantages? Also, do I have to have a monthly cashflow in and out comming? All the advice would be appreciated.. Thanks!
Of course it's a business, and you're ahead of many by understanding that. You might find this of interest.
http://www.stocktrading.com/TradingPlan2005.htm
And, as part of our training, we focus on things like relationships with Clearing Firms, exchanges, your own trading firm (us), etc.
Feel free to call to chat about it. 702.739.1393.
Don