DAY TRADING-What do you need to know to become a successful one?
Is day trading very risky? Some compare it to gambiling? Some say if you have a good system you can do very well? How does one get a system beyond looking at a company and believing in their growth.
How do you learn more, do you NEED to know more?
Kinda new. Can one make a living solely off of it? What steps need should be taken?
Hey there shy-lover. I currently work at a bank, but was a day-trader for 20 years. In November, the $300,000 I had invested had shrunk to only $15,000. Believe it or not, I had 20+ years of experience. The market dipped November and continued through February. While things seem to be getting better, don’t be fooled they may start to go south anytime. My initial investment was $150,000. It took me 20 years to double that and only a few months to lose about 95% of that. It takes a lot of money to be a day-trader as well as time and risk. Hope this helps and good luck. Be careful, its a brutal market out there!
successful day trading stories?
I am going to start day trading and was wondering if there is a website that lists people who have been successful and there stories. We always hear so much about the people that fail, there must be people that succeed.
I am a day trader making money. Go to Investools.com
Can stock brokers see your trading strategy?
If you have a successful trading strategy what prevents someone from schwabb or scottrade from stealing the strategy? How can I protect myself?
1) these strategies exist, investigate Renaissance Technologies. There is no luck in these trading strategies but pure brilliance. What about direct access trading platforms
They may be able to see what you are buying & selling, but the reasons behind it, how would they know that??
Strategies, are a dime a dozen. Everyone I know, has a strategy, I have a strategy. Doesn’t mean I know what I am doing.
Hi I was wondering if anyone has been successful with e currency trading?
Probably what I’m gonna say is not a exact e currency trading as you would like, but I take it as an example.
In online betting games such as poker, it is really commom to have people from all around the world. And in most places you need to pay a fee in orther to cash out your prizes in teller for example.
My friend who plays online poker met a Brazilian who needed to cash out money, but he did not want to pay all fees. So my friend suggested that he would transfer real money to this Brazilian bank account in exchange of receiving a higher amount in online game cash. The profit was low, but he transfered $210 and received $225.
What made it easier was the fact that the Brazilian had a international bank account that had a low transfer fee from bank to bank.
How to be successful in forex trading?
Playing Forex can appear alluring, but the majority of people who try it lose money. All you have to do is do a web search on the words “Forex” and “lose” to see this is the consensus.
Forex is what we call a “zero sum” game. You are making a bet with someone else about whether a currency will rise or fall. For every winner there has to be a loser. If you are smarter than the average player, you may make money. If you are dumber than the average player, you are likely to lose money. Most of the people making the “bets” in Forex are highly trained professionals at banks and other institutions. You are unlikely to beat them at this game.
Actually Forex is not quite a zero sum game. It’s a slightly negative sum game as the Forex broker takes a small percentage each time in the spread. It’s a small amount but over a hundred trades, it ends up being a considerable amount of money. So the average player is likely to lose money, and remember the average player is a highly trained professional and probably smarter than you.
There is a lot of luck in Forex, and if you play it, you will have some periods of time where you make money. This is usually because you are having a lucky streak, not because you have suddenly become an expert Forex player. However, most people are unwilling to admit their success is due to luck. They become convinced they have a system that works, and lose a lot of money trying to refine it.
Further complicating the problem is the large number of Forex scams on the internet. Most Forex websites are of questionable honesty. You will find many people on the Internet that claim they made a lot of money using Forex. They are usually liars trying to make money. They will say: “Go to Forexcrap . Com/q2347.” The “q2347” is a signal to the Forexcrap site that you are being referred to them by “q2347.” If they sell something to you, “q2347” gets a kickback. These coded signals can be hidden by different methods in the link. Other people will refer you to their own private website or blog for the purpose of trying to get money off you.
I would recommend not trying to do Forex at all, unless you are a trained professional. It’s like playing poker with people better than you, with the house constantly taking a small percentage from the pot.
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