Excellent resources on day trading!
There is nothing quite like being in a classroom and being able to ask an instructor a question, or for clarification, or for an example, etc. (But I'm biased, being a former university faculty member, smile.)
I'm not sure I could do day trading on a regular basis. I don't think it is for me (nor I for it). That's one of the things I like about the company's training plans -- those who might not be right for it should figure that out during the training program. Of course that will not ensure anyone will be successful, but it should weed out most who are not really suited to day trade.
When investors begin to realize that every other investor in the WORLD is their opponent (but not necessarily their enemy!) in the race for ROI they will begin to see that the more you know the better equipped you are to bet more profitably.
All investing is a gamble. All of it. Some is less risky. Some is more risky. I got this in an email recently:
"One dollar invested in the stock market in 1801 would have compounded to $561,264 as of August 31, 1998, adjusted for inflation. However, the same dollar invested in gold in 1801 would have been worth only 78 cents this year, inflation-adjusted."
I don't know how to verify those figures, but assuming they are correct, it really illustrates how people can have utterly different perceptions, strategies and views of what makes a good bet when investing. But that is what makes a market -- a difference of opinion! Without those differences there would be no market.
The problem is most of us don't have 198 years to see if $1 is going to turn into $561,264, grin.
The key for me is having a plan, being patient and having a sense of timing. I have said before that I have never lost one cent gambling in the pennies. That is still true. It might not always be true, but so far it is. Why? Because I have a strategy that works for me. I refuse to sell at a loss. Period. That means I have to be very patient. Being patient is very hard sometimes, but it has always been profitable for me, so I'm sticking with it. Of course that is not my whole strategy, but it is the backbone of it. (the rest of my strategy is a trade secret, smile.)
If I sold some of my penny stocks now I would incur a loss. But I refuse to do so. A couple of other stocks I have owned for a long time (as long as 8 years) have finally come to life. One of them with a startlingly excellent price, too!
When posters get upset because PABN did not make them rich by an arbitrary cut off date, I can only shake my head at such foolish and immature thinking.
IMHO just as brokers have to pass a test before then can go broke, I think people who want to buy and sell stocks should be required to take a basic course about it. Same for using the internet. If there was some kind of appropriate way to "license" investors and internet users I think this world would be a much better place.
PCM
GO PABN!!! |
