Bernie be carefull sponsering a proven trader.
Proven traders do not need sponsorship, they are making money, otherwise they would not be proven right ?
The proven trader is not the guy who made 100 000 in the crash or so ,
he might have been lucky and give it all back the next crash.
The proven trader is the guy who consitently makes money, the guy who maybe had 2 losing weeks in the last 2 years.
Are there people like that ? Sure , I only traded in one of our CA offices and I know at least 5 proven traders, 5 people that make a minimum of 2 grand a week and one that makes about 10 .
Trust me those guys do not want sponsorship, be very carefull with your cash.
It seems to me you are looking to make an easy buck, not only will this hurt you in real life it will also kill you in trading, especiallly in SOES trading.
I mean why even mess with stocks like INTC or CSCO or so ?
You know every other soes trader in the country is trading the same
stocks and they all want to get in or out at the same time.
Think about it , you are new to the business and you are trying to trade the hardest stocks outthere, competing against the best in the business. It's like taking a 2 week basketball course and play against the Lakers.
Of those five profitable traders I know , not one ever touches INTC.
You need to find your own 8 to 10 stocks.
Watch them for a few weeks till you have a distinct advantage , till you know the MM 's , the breakout points, the support , the trading patterns etc.
Then you papertrade those stocks till you make money on paper.
Then you reallife trade with 100 shares or so instead of a thousand.
Then you trade life with a maximum of 2 to three trades a day to start and then when everything works and winners to losers ratio is more then 3 to 1 your number of trades will increase and so will your profit.
This might take you a few weeks to months.
Most people are not willing to put that effort in to their trading. They want an income that is larger then most people with a graduate degree make , but they are not willing to invest one tenth of the time it takes to earn a highshool degree.
Look at it this way , if someone gave you a racecar and a two week crash course would you be ready to compete in the Indy 500 ?
One of our more succesfull traders started with 10 Grand trading only stocks under 20 dollars and trading only 15 stocks. (the local racetrack)
Afer about a year his acount is over 15 times that amount , he still papertrades sometimes.
Whenever he feels he likes to trade a new stock he will papertrade it it for a month or so.
And they guy is carefull, every move is based on safety and not loosing money.
For example,one of the stocks he follows is WCOM, you would think he would have been happy with all the volatility in the stock lately .
Well guess wath , the days of the takeover bids he didn't want to touch WCOM, didn't even want to look at it.
The risk of losing and not being able to get in our out was just to great.
This guy works hard for his succes and you can come in our office, sit behind him and watch wath he does for a few weeks.
If you take the abovementioned steps, will you be succesfull?
Well there is no guarantee, just like not everybody who makes it through 4 years of Lawshool lands the 100 000 $ job or passes the Bar.
You might not make it neither if you do not have the neccesay discipline.
But you will dramatically increase your chances.
Best Regards
Laguy6.
PS , if you are serious about daytrading and live in Southern California e mail me for a visit to our branch office and I will arrange for a seat behind the guy.
PS. Nobody in our office pays more then 18 dollars a trade.
|
