Your Questions About Successful Traders Make

Nancy asks…

Has anyone ever gotten rich by applying pure technical analysis?

I know there are successful long term traders, and they´re skilled, not lucky. But they look at what´s going on in the world and then make predictions and trade based on that. Somebody trading purely on technical analysis would have to be completely isolated from the news and only look at charts. They wouldn´t even know what they´re trading because if they knew it, they would be influenced by the fundamentals.

John answers:

Technical Analysis is really looking at past data and trying to predict the future based on study of past patterns. This assumes the pattern will continue to repeat, or the underlying reasons for the pattern will continue uninterrupted.

Unfortunately, the real world by definition is unpredictable – weather, war, disease, famine, political changes, government policies, financial crises, etc can change in an instant and cause a new TA pattern.

So, while TA can be a useful tool, it should not be the end-all for decision making.

Chris asks…

Wants to know about US & UK stock markets in depth. I am a Tech analysist. I need structure of these markets?

I am a professional stock trader. I trade In indian markets. I want to know about US &UK markets. I am basically a good technical analyst and does day trading successfully. I need the basic structure of these markets to day trade. General behaveir with day trading perspective, trends, behavieral patterns of index stocks, midcap, smallcap and I am a momemtum Player in day trade. In that case what general tendency I should observe, How is the brokerage structure, How is the day trading culture in USA & UK. Where I will get Online charting facility to open atlest 30 stocks simultanoulsy and I Choose to trade from all the total scrips and choose the days best moving scrips with above reasonable volumes. What scope it has in these markets for this patterns? Is ther any website reveals the basic structure of these markets. If you are in these markets, and guide me for basic knowledge, I will help to make consistant money in day trading since I am a very very successful day trader.

John answers:

Any of the big firms will provide you with info to help daytrade. Or try Morningstar or Barrons for information for technical anlysis. What you ask for is is simply WAY too much to provide here. And why would you want to take the advice on just anybody here to risk your success on?

James asks…

Former/Current Day Traders help?

I’ve been paper day trading amounts I would be investing in real-time for several months now and am extremely successful at it. I’m worried im not getting the full picture of restrictions and limits on day trading however I already know of the pattern day trader rule and the $7 or so fee for each trade. Say I keep $25,000 in my account and actively use $75,000 or more in trades and come out with a few thousand dollars (before taxes and the $7 for each trade) everyday is there other fees associated with that? It just seems like too much easy money can be made and with hearing that 80% of day traders lose money I feel like im missing out on something. If you make your bid/ask price the same as the stock’s current price how quick is it usually to buy/sell in the most common of traded stocks like citigroup?

John answers:

I’m not sure if I understand… Are you currently trading with real money? How long? Paper trading is rarely a reflection of real trading results…. Especially with low priced stocks.

Here’s the facts…. The QQQQ’s & IWM are up about 12% this month. This may be the best September in history. Hopefully you know what the QQQQ’s & IWM are.

90% of new day traders fail (not 80%). Very few succeed without using technical analysis. None succeed without using trading money management. It takes 3-5 years (on average) to be profitable on a continuous basis. Most successful traders are always reading new books on trading. Attending webinars, etc. Most day traders would not consider Scottrade a great place to day trade.
Http://webreprints.djreprints.com/2390280139740.pdf#view=fitV,100

I’d like to see how you’re doing in 6-12 months. There are a few people that can do this with little knowledge….. But they are small in number.

Other than taxes…. There are no other fees. I do believe you’re doing this well. You may even be talented…. But most of your results are… I believe…. Is the time you got into day trading. How you’ll do in a regular or down market will be the real test.

Laura asks…

I have a question about New Zealand history?

In the 1790’s, whalers, sealers and traders arrived from America, France, and ________,and they lived mainly around the coast.________were a very important source of oil for lighting and many seal skins were used to make hats. The flax trade also became important at this time; people used the _______to make ropes. Sealers, whalers and traders usually only stayed in New Zealand for a few years before returning home or moving across the Tasman Sea to try their luck in ________. After 1840, settlers tried their hand at gold-mining. _______was first discoed in ________and Nelson in 1842, but the most important find was in Gabriel’s Gully in Otago. The main gold rushes lasted from 1861 to 1870. Many settlers arrived in New Zealand hoping to become successful farmers but a lot of them found that it was hard even to grow enough____for their families. However, some settlers brought___ over from Australia and the flocks did well.PS: please refer to factual information before answering.

John answers:

Britain / Australia (either is correct) – Whales – Fibres from Flax – Farming – Gold – Thames – Food – Sheep….

Any other homework you need doing????

Lizzie asks…

Interesting question..I have given everything about me here..will i be successful ln life?best answer-10 pts?

?

I am from india..19 years old..I have dropped out of college presently and striving to make it big in films..and I believe I can achieve it..I am a part-time stock trader now..My aim in life is to earn a lot through film-making as a director/script-writer and multiply my money through stock markets..and one day i wanna be the world’s richest person =) i believe I can..I’am always attracted to being alone rather than being too social and active..I dunno why but thats the way I am..and I love being the way I am.. =) although I have my own negatives and short-comings in life..one thing i hate in myself and wanna change is I am over-lazy and sometimes too over-confident =( I hope I’ll change soon..I am a big big biggggg dreamer..I wanna achieve huge thing in life…after making my dreams true,i’ll help a lot of poor and needy people..My aim about social life is everyone poor kid must be educated although i am not attracted towards education since I believe I can make it big in films..I am a sweetheart and angelic in heart 🙂 thats what i believe..but i dont get much chances to show it out..i have only selective friends..I prefer spending most of time alone..I am sometimes very cheerful but suddenly way too moody..I am an extremist in showing emotions either too angry or very lovely =) I have a lot of dreams about my marital life..I’ll treat my girl with care,respect and utmost love such that she melts for me =) I love to ‘make love’ for her rather than just having sex..i will raise my kids with all the freedom and individuality they need in this world..i’ll never force anything into them…sadly i am not in good terms with my parents for obvious reasons…but i’ll be a good parent for sure..I am an athiest..i believe more in me than anything else..but sadly my present state if life is somewhat bad ,but I am working towards it with all the confidence in this world..

Enough information?will i be successful in life?now go ahead with ya prediction..lets see what ya say =) be it either negative or positive..i would love to see what ya think about me 🙂 DONT ANSER FOR 10 POINTS ANSWER RIGHT FROM YA HEART but i will choose best answer for sureee…!

pleaseeeeeeeeeeeeeeeee

John answers:

Okay, first of all. You can’t drop out of school NOW. You can study and pursue your dream at the same time. How can you help others if you don’t help yourself first. Just be confident about yourself and do the best you can. Remember, education first.

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