Tara,
Nice to read your post... we trade together on cyber. :)
Sometimes when I tell people that I daytrade, they think it is easy. 3-6 months is what they think is all the experience you need. Since I work full time, my time frame to learn this career is three years.
I made my first trade in May 1998, and have never been in the hole. Guess I was lucky when my first trade netted me 13K. And when I say lucky, that's exactly what I mean. I had no idea what I was doing and happened to get out of the stock at its 52 week high.
I have spent hours reading, watching, and learning. Some of my best ideas come in the shower. <g> My goals for 1999 were to improve my knowledge, learn my trading software better, and double my 1998 earnings. Jan has been a fantastic month and I may reach my earnings goal six weeks into the new year.
I like to buy quality stocks and hold for short term. I guess you call it position trades. Then I like to buy and sell quick for 1-2 point gain. I don't think the number of trades is as important as the objective or plan for the trade in the first place.
I want to learn all about the financial markets not just daytrading. I plan to attend every seminar or workshop I can. Spent 2 days at an options seminar, one evening on estate planning, and a five week course on investing.
I know I can make a living at it cause I am essentially doing it. If you are considering playing the market, have energy, nerves of steel, and a real desire to learn all about it. This is not an easy career, but it sure can be fun.
zora (ms) |
