Joe,
I'm not trying to pour salt in your wounds, however, I would like to make a few comments.
1. SOES trading, Daytrading, whatever a person wants to call it is work! A person just can't come in and sit in front of a screen and push buttons and hope to make money. You have to work at it. So your comment of having to go back to work for a living may expose the attitude you took towards this business venture. Trading is a business and a hard business at that. The traders that come into our shop range from house painters to MBA graduates to Brokers. Each trader has his own style but the ones who are successful work trading like a business.
2. Not blowing our own horn but at our office we charge commisions on a per share basis. This solves two problems, split fills (which do happen) are not charged full commission, also this commision stucture allows a trader to trade in lower blocks of stock, say 400 to 500 shares, while the trader is learning or building his trading account to a higher level.
3. Irby, Steve, and many others have offered alot of "free" knowledge. Thankyou! Anyway read everything you can get your hands on. Elder's book is a great starting place. You will understand why the sucessful trader at your shop is the way he is.
4. Trading, plain and simple, isn't for everyone. With all the recent articles of all these profits people are making alot of people are being sucked into this "minus-sum game". In our short six months of existence I have seen 3 traders come and go. They averaged $4000 in loses. The other 9 traders we work with all are making money on a consistent basis. Their profits range from $100 to $1200 per day after commisions. The 3 traders that aren't trading are all holding a stock, that against our counsel, they held overnight and now are holding for the long term. If only they would have listened to Irby, Steve, and others they still would be in the game.
Later,
Cader |
