Your Questions About Successful Trading

Linda asks…

How can I find good day trading ideas?

I am looking for a website that gives decent stock trading ideas. I do not want anything that has to do with penny stocks or other garbage like that. Does anyone know of a site that is decent?

John answers:

I’ll say this once
http://www.mytradingrobot.com

If your going to go into day trading then you really want every edge you can get.

Http://www.mytradingrobot.com is simple and to the point and your 10x more like to be successful in day trading with it.

Maria asks…

How do i make money with forex?

Before I get involved and try with my own money, I’m wondering if anyone has any advice on being successful in forex trading.

John answers:

You can’t. Hedge funds and money center banks can. They have hundreds of advantages over you and you are just there to send them money. This is a completely foolish game for you to play.

Susan asks…

Want to become a successful actress after college?

I want to become a successful actress after college. This is my plan: I’ll save up a lot of money and after i graduate i will go to a performing arts college. and after college, ill move to california and audition for a lot of different shows, and movies. i know that becoming an actress, takes hard work and time, and im willing to wait and work. does this seem like a good plan? what are some good colleges? (i live in wisconsin) any tips? thank you and i dont want any mean comments 🙂

John answers:

It seems like a plan of someone who has no idea of what is actually involved in becoming a professional actress. Not to be mean – you’re just figuring things out. Just want to point out that it’s really an unrealistic plan.

Professional acting is a business. Companies are in it to make money. There are not a bunch of open auditions for professional work that you can just go to until you’re “discovered” or something. For most professional work you have to be invited to audition, usually through a talent agent.

And you can’t just hire a talent agent. It’s more like they choose you. Legitimate talent agents are paid on commission, getting a percentage of what their clients make. Since they are paid only if their clients book jobs, they are very picky about who they take as clients. And they can be picky because there are a lot more people wanting to be actors than there are roles. Picking up and moving to LA and expecting to get an agent right away is like buying a lottery ticket and expecting to win a million dollars. It happens rarely happens and nothing you can bank on.

Here’s how casting for TV shows and movies go. A casting director is hired to cast a show. If they know an actor that they’d like to audition (whether that’s a well-known actor or just an actor that the casting director knows that’s not well known to the general population), they contact the actor’s agent to arrange an audition. Often they’ll write a “breakdown” (a description of the project and the roles to be cast). Now the casting director chooses how to release the breakdown through online communication networks. Most “good” breakdowns are released to licensed talent agents and manager and not to actors. The agent submits their clients for the appropriate roles (which means they send in the head shot, resume and acting reel). If the casting director is interested, they contact the agent to arrange an audition.

And we haven’t even touched on the topic of unions. Most productions companies have agreements with the SAG-AFTRA actors union and preference is given to union actors. And you can’t just pay money and join the union. You need specific experience to be eligible to join.

Professional acting is like starting a company and you are the product that has to be marketed and sold. So you need a good product (talent, training and experience), but you also have to understand the business end of things as well. So while you’re in college and studying – make sure you research the industry and come up with a business plan for your career – something more than “move to California and audition”. Read industry trades and websites like Variety and backstage.com. Read books about what it takes to manage a professional acting career. There are a lot of scams and rip offs out there and you’ll have a ton of business decisions you’ll have to make about your career. Education is power!

Understand that professional acting is an extremely competitive career. There are over 100,000 professional actors just in LA. There isn’t enough work for everyone. And every acting job you get is temporary. So you always have to worry about when (and if) you’ll get another job. Most professional actors don’t support themselves by acting alone. So make sure you have a way to support yourself while you work on your acting career.

Good luck!

John asks…

What is the most successful country through time?

Not a specific question,
but overall what country do you believe is the most successful through time and why?

John answers:

I’d guess it’s Britain.

Their kingdom has endured for a thousand years.
And they’ve been the most successful nation on Earth at fighting wars as they created the British Empire.
(Of the World’s 190+ nations, Britain has invaded all but 22 of them throughout history.)
For centuries, the British Navy ruled the world’s oceans.
English is the international language of trade, diplomacy and more because of Britain’s influence on the world and world events.

And their country is still around today. Suffering from some economic troubles and other issues, but it’s still around.

Laura asks…

How should I go about setting up a Share Trading Account?

I am a Finance student and looking to get first hand experience of the markets and the trading world.

I am not talking serious money maybe £50 a month.

John answers:

Suggestion: Do some research first.

You are better off going for the Halifax Share builder account, you can put in your 50 quid and every month it will automatically buy the stock you set it to every month. (cost averaging) If you pick a company in the FTSE100 in 5 different industry segements, you will expect a bette rlong term return. It is only £1.50 per tranaction, so if you bought £10 of shares, you will in reality get £8.50 worth as the transaction fee is covered in that. Start small, think long term. Use a Buy and Hold strategy

If you were thinking of doing TRADING, forget it for that amount of money. The cheapest transaction rate I could find was £10. At fifty quid a month, its not worth your while as you would have to make 20% before you broke even!

Start with the buy and hold on that. In time you will have a reasonble amount to play with, you can trade in half your stocks and get trading with that.

Basic rules: Do not put more than 20% of your trading money in one stock.

Work from there.

Remember, there are no hot tips, no quick hit profits. Getting rich is long term, getting rich is boring! £50 a month is great for buy and hold. Its how the richest and most successful traders all started. How about you model there patterns and you will probably get the same results!

If you were going to be trading soon, get a share magazine, I get mine from tesco, and often in the back it has a matrix of all the online traders with athe charges listed. You can make you own mind up. There are some geared towards people like yourself who won;t be making more than 10 transactiona month and so on..

I personally use the Halifax share builder for my buy and hold (for a rainy day or longterm gain) and I trade with eTrade as I trade in Uk and US stock and it allows me to do both. US stocks provide me more chioce and better returns generally.

Good luck

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