Hey all,
Yet another young trader coming onto ET with outrageous claims.
Some background: I have been watching the stock market and paper trading value plays for about 5 years, dreaming of becoming the next Warren Buffet, etc. etc. Always thought technical analysis was a bunch of garbage (and more or less still do ... look there's a flag!)
Anyway, my personal outrageous unreasonable goal is to turn $10,000 into $100,000 within 2.5 years (just in time for graduation and principal payments on my student loans).
The first couple of weeks I traded only equities, making a paltry $50-100 a day and becoming impatient.
So I started reading about options, then proceeded to lose a couple of thousand (I guess I would count that as my tuition).
Since then, I've learned what words like "risk management" mean, which have kind of helped my performance, more or less.
Many of my large losses came from my deviating from my main strategy (which I like to call "pseudo-arbitrage") and as a result I will test new strategies before jumping headfirst into them (hard to resist the allure of the tight spreads on Apple, QQQQ, etc. options)
All in all, in the past 2 months I have been able to turn that 10,000 approximately $18,000. I'd like to attribute this mostly to pure luck and happenstance, and can only hope that it will continue for a long time to come.
I'll be posting my first trades tomorrow (if I get a chance to trade!)
Yet another young trader coming onto ET with outrageous claims.
Some background: I have been watching the stock market and paper trading value plays for about 5 years, dreaming of becoming the next Warren Buffet, etc. etc. Always thought technical analysis was a bunch of garbage (and more or less still do ... look there's a flag!)
Anyway, my personal outrageous unreasonable goal is to turn $10,000 into $100,000 within 2.5 years (just in time for graduation and principal payments on my student loans).
The first couple of weeks I traded only equities, making a paltry $50-100 a day and becoming impatient.
So I started reading about options, then proceeded to lose a couple of thousand (I guess I would count that as my tuition).
Since then, I've learned what words like "risk management" mean, which have kind of helped my performance, more or less.
Many of my large losses came from my deviating from my main strategy (which I like to call "pseudo-arbitrage") and as a result I will test new strategies before jumping headfirst into them (hard to resist the allure of the tight spreads on Apple, QQQQ, etc. options)
All in all, in the past 2 months I have been able to turn that 10,000 approximately $18,000. I'd like to attribute this mostly to pure luck and happenstance, and can only hope that it will continue for a long time to come.
I'll be posting my first trades tomorrow (if I get a chance to trade!)