Your Questions About Successful Traders Make

Daniel 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:

Some good traits are listed, but while it is ok I guess to want money, to love money is not wise. You say you want to help others, but film is not really a “helper” type job. I find the most successfull people are the ones with a single purpose they work hard to achieve. What matters more to you, helping others or film/wealth? I feel being an Atheist tends to make people a tad lonely, not believing in an all loving being. I believe people get their reward either in this life or the next. To me, as a spiritual person, I want to help others and that will never get me wealth, but I have accepted that. To be wealthy, you cannot be too nice or too generous, otherwise you will not be wealthy for long. You seem to have many good ideas, but focus is needed for success. Make dreams reality You will need to learn to control the anger you mentioned. If you are honest, kind, compassionate and dedicated you can reach all your goals, just don’t lose sight of what is truly important in life. IF you do become rich- don’t forget to help others, otherwise you will lose yourself. Get focused and work hard and the rest will follow Best of luck.

James asks…

iInteresting 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
bill gates is a college drop out you ignorant sickulars (:

John answers:

I’m sorry, but I stopped reading when you told me you dropped out of college. The only way you can be successful is if you finish college. Sorry…

Joseph asks…

How should I start trading?? Experienced traders please.?

I’m in college, and have about $700. I have no ability to save more at this point. I wanted to start short term trading in the summer, and have a couple books to finish reading. I was interested in day trading but a minimum of $25000???? I don’t have that kind of money. With only 700 where should I start. I am willing to get very motivated if there is opportunity but I don’t know if my limited funding is going to make it hard to start.

If you were in my position, what would you do to get started? I want to be as successful at trading as I can, and I am very smart so I apply quickly what I’m taught.

I am very motivated to learn how to trade and become good at it. Whatever I have to do.

Any input is appreciated thanx.

John answers:

Etrade will let you open an account
but 700 dollars
and no experience you will do better in vegas

but if you want to gamble
dont listen to anyone who tells you what to buy
do your own due diligence
watch out for the fees when you buy or sell
find something you use that just came out and you say to yourself WOW this is great

Linda asks…

I am interested in day trading in the stock market? Please help me?

Basically, I am trying to educate myself on the subject of day trading. If you can recommend me to a very thorough book which covers every aspect of day trading, I would greatly appreciate it. Also, I would like to know the average income of a successful day trader. Please recommend me to the most thorough books you know of. Any books that will teach me how to invest. Not those “be a millionaire over night” books, but books that explain the concept of investing, how to invest, how to day trade, the concept of trading, how to analyze important graphs regarding the stock market, how to analyze a company’s statements and such. Books that will make me a more successful day trader, and investor. Also any information you can provide is welcome. Perhaps the average income of a successful day trader on a yearly basis?

John answers:

There are many books on day trading. A good one or two wouldn’t hurt, and one simply on short-term investing. From there you need the same knowledge of any other trader that is doing it as a sole source of income… And a whole lot more. Technical analysis is your religion, along with the stop loss. You need to learn to read charts inside and out, and once you have the basics that just comes with practice, and lots of it. Unless you have money to burn do it on paper.

“How Technical Analysis Works” by Kamich is a good foundation, but the more you read the better you’ll be and again PRACTICE.

The more successful day traders have a ‘system’. They use certain indicators and built support and resistance lines on their charts based off certain rules. They have enter and exit points based on those rules and they stick to them. Emotion in day trading, specifically fear and greed, are your worst enemies. These successful traders also spend over a grand on their charting software like MetaStock.

This year, starting last September, is going to be a good one for day traders. I’ve heard a few day trading website owners say that a day trader with experience that doesn’t make $100K this year should get out of the business. I don’t agree with putting a price tag, some traders are probably tickled to make $50K and others upset at less than a quarter of a million. It all depends on your initial investment, learning curve, etc. I would like to point out a few scary statistics for you:

90% of all short-term traders fail (go bust) in their first six month and never go back
It takes, on average, 6 months of regular trading to earn consistently. I’ve heard these a few places, there’s a book, I believe “Short-Term Trading” that beats these facts in so you approach it like a business and not a casino.

Pattern day traders, defined by the SEC as making more than 3 intraday trades in a five business day period, must meet certain requirements.
1. They must be able to trade on margin
2. They must at ALL times maintain $25,000 in cash equity in their account.
Failure to do so locks you out of the markets for 90 days. All you will be able to do is sell anything you have. This means if you invest all of it, and you lose $10,000, you will need to cough up another $10,000 into your account in a big hurry.

It sounds like you have one thing figured out, and it’s an important one. You won’t become a millionaire overnight, but if you have the passion, the drive, and the discipline, you can live off your earnings.

Donna asks…

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John answers:

Check out http://www.amazon.com/gp/product/B003G4OJPY for practice CFA exams

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