I've tried the '2 computers with 2 56k modems and 2 phone lines' deal, and it's not worth it. Go with ISDN and you'll be glad you didn't screw around. I'm even considering 2 ISDN lines, one for my real time quote screen for all the incoming data, and the other for order entry and research.
This last week I had my best week ever out of 3 yrs of trading. Year one was buy and hold, but held the wrong ones. Kept getting disgusted with waiting and not seeing any profit. Year 2, started to wait less time between trades, still position trading, selling a couple days before the stocks ran up. I felt sick. Year 3, went into trying to 1/2 daytrade and some position trade. met success 50/50. This year started with a $4000 loss that I took instead of waiting for it to come back. This week my net profit was $5,500, which brings me back into the black. I'm playing the under $10 arena, looking for high volume low float stocks of the day. My goal is to get $500 or better and call it a day. If you trade all day, it becomes just another job and a grind. Even if I come out with $1k per week net, for my lifestyle and bills, will be comfortable. I've had a decent day job for the last 2 years, which recently allowed me to work from 10-6 CST, but now changing me back to 8-5. This would force me to give up my trading at the open. Therfore, my decision is to go to full time trading starting in Feb, and then I will only trade for a few hours, looking for that couple hundred a day, which translates into $50k per yr. If necessary, will get a day job on 2nd or 3rd shift so it doesn't interfere with my trading. I have many skills to fall back on.
One more thing, since I've always had problems taking a profit when I'm looking at only $300 or so. I made a big poster that hangs right above my monitor to help me.
"TAKE THE MONEY !!!!" |
