Your Questions About Successful Trading

Donald asks…

Is it possible to be successful in trading on OTC/BB stocks? If so what is the approx.percentage of success.?

John answers:

It is certainly possible to be successful trading OTC/BB stocks. But it is tough to say what percentage you might make. You have to do a lot of research to find the good ones, because there are a lot of bad stocks out there. I have had some success with ADDL.ob, TWRT.ob, and EZEN.ob. Here is a link to an investor who has done some successful trading in .ob stocks. Maybe you can take some of his ideas:

http://www.top10traders.com/ViewPortfolio.aspx?userID=350

This is from http://www.top10traders.com – this is a free site that lets you create a portfolio of stocks with $100,000 in “play” money. Each day the site ranks the best performing portfolios, so you can see how your picks perform compared to other investors. You can also read posts on investing from the best traders, as well as share your own investing ideas. There is also a charting feature , so you can see how your portfolio performs compared to the S&P 500.

Here are this month’s best traders:

http://www.top10traders.com/Top10Standings.aspx

Good luck.

Mark asks…

what are the keys things to being successful at penny stock trading?

John answers:

Easy buy low, and sell high.

Chris asks…

Ideas on successful trade show exhibitor displays?

I am going to be a trade show exhibitor at upcoming healthcare conferences and expo’s and was wanting to get tips and display ideas for my booth. Thanks.

John answers:

Be different! You want to catch people’s attention but you don’t want to create a circus. People love free stuff – do a giveaway. But please, don’t give out pens or nail files. Find something DIFFERENT. Create a buzz.
I did a trade show for “outdoor” enthusiasts and we gave away “Ring Things” – rings that doubled as a bottle opener. It was a huge hit, people were lined up at our booth asking for them because they saw other people boasting about the free gift from our booth. Obviously you want something that will relate to your company or the show itself.
Also, I have found (been at many trade shows!) that booths with “moving” things in their display catches ones attention. Ie: rotating signs, water fountains, etc.

Susan asks…

im looking to get into option trading where can I find successful mentors?

John answers:

First, you should know there are not any real secrets in trading options, so if you are willing to study existing materials you can learn all you need to trade options successfully without getting a mentor.

I suggest you start at CBOE learning center at

http://www.cboe.com/LearnCenter/default.aspx

and take their free tutorials and classes.

Then read at least one good book about options. Two books I recommend you consider are “Options as a Strategic Investment” by Lawrence McMillon and “Options Volatility & Pricing” by Sheldon Natenberg.

If you have any questions from the tutorials, classes or books you can ask them here or at

http://messages.yahoo.com/Business_%26_Finance/Investments/forumview?bn=4686677%23optionsquestionsansweredhere

or both.

In my opinion that will prepare you for option trading a lot better than mentoring for a lot less money. However, if you really are looking for a mentoring service there are some available, such as

http://www.sheridanmentoring.com/index.cfm

I have never used any of these services, and I am not recommending any of them, but since you asked I did not believe my answer would be complete without mentioning them.

Paul asks…

can the average joe be successful day trading from home??

i was thinking about becoming an investor on the stock market at home. i know many people fail at this sort of venture, is there anyone out there who knows it can be done successfully, and do you think studying for an online degree in economics would help or is it really all down to practical knowledge??

John answers:

As some one who does it for a living, I can tell you the odds are about 1% if even that, that you will succeed. Reason being is that it is not easy and requires that you be almost like a robot as you have to leave all emotions out of the trade. In addition, there is a big learning curve as I know I threw away about $30,000 before I became successful. Now I know this might not be a popular answer, but I find it easier to daytrade index futures such as the emini S&P vs stocks since they’re generally more liquid. Also you don’t need a ton of money to do it like you would with stocks. 1 contract of the emini s&p 500 which can be daytraded for $1200 at most commodities brokers, is almost like trading $20,000 in the stock market. Having majored in economics myself, it will help you with long term investing but not daytrading as someone else mentioned.

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