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Strategies & Market Trends : DAYTRADING Fundamentals
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To: - who wrote (1111)6/19/1999 11:26:00 PM
From: Richard Estes  Read Replies (1) of 18137
 
Lets say even if you don't get haircuts and put it up in a pony tail, and that Trader Joe needs only $52,000 to live on a year and he starts off with $52k If he increased his capital at 100% a year at the end of 10 years he would have $52k since he needed $52,000 to live. His parents won't let a 50 year old man live with them and the baby and the 1st wife needs shoes and the 1972 VW needs tires.

Of course, everyone is doubling their money each year, every year, anyone can do that. Then there are the real traders, in the chat rooms and on the stock topics really racking up. The ones doing 1000 trades a day or one every 39 seconds. The successes are just too numerous to document, there are tons of them. those 1/8 to 1/2 points really add up.

His buying power is doubled with margin so profits are doubled and losses too. but who has losses? if you know a few patterns and have a direct access system, a slight knowledge of a 21 MA and ADX>30 tied with a typist skills to execute real tick orders that produce hardly any losses.

What about futures with 95% margin? No one loses there only about 85% of them do. But this is not a business it is an adventure. Only the brave and fearless need to apply if they have good eye/hand coordination.

Quit your job, burn the bridges behind you, all you have to do is daytrade.
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