Steve - Good idea from a great trader mind!
I lurk on your trading desk quite a bit & find it very informative. Do not do much daytrading but play games a bit & think that is a great way to learn some things, however one is usually buying at ask & selling at bid, with time delay, on games.
Have learnt however, that buying on news releases, etc., can be a fast way to lose, as most times, some more quickly informed, have made a quick profit & I get in when they are taking profits(at my expense). Surely an investor/trader is wise to use a good service even with a reasonable fee, as that fee will be virtually negligible on your profit sheet. Short term trading on one's own, is very risky, IMO. Some may be astute enough & have the expertise & facilities to do well, but I suspect most would do much better, paying a small fee for a superb service, not just anything that's out there. As with so many things, you pay for what you get & 'saving' a few dollars will usually end up costing you.
Personally, I am doing very well, using a couple of 'local' (Canadian) services with picks based on good fundamentals & a time frame of weeks to months. Someday I hope to attempt daytrading or shorter term trading, but don't feel any where near ready for that yet.
Surely the wise investor that attributed his success to always having sold too soon, should be thought of anytime we tend to get greedy. Most of my poor investments have been poor due somewhat to greed, holding too long for a bit more profit. If we are very careful to only buy the most 'sure' things , eliminate the not so sure, then take an early profit or small loss quickly on the not so good choices, we're on the right track. IMHO.
tide |
