just popping in for a moment..still have to answer 30 posts Sunday night...Since your comments, take only a few moments to comment on, and I feel I need to respond at this point, I will...
A lot of people claim that they do a lot better by position trading..Holding a stock from 3-5 days or a bit longer...or by just investing in that stock..That comment is true...Only 5-10% of individuals who make a real attempt at daytrading, make it to the ranks of being successful..By that I mean, able to make a living off of it..I hear many people on Silicon say that investing or position trading is the way to go, they make more money than a daytrader...The reason they speak that way is that they try daytrading(don't know what they really are doing) and fail...For them, it does make more sense to invest than trade..
But I will tell you, that I am convinced a good part-time day trader can make 100K-150K a year, and a top full-time daytrader can make 250K plus a year...
As you know, I am trying to teach my wife how to daytrade..She is not thrilled about the idea, because she likes a people job(like selling real estate), and doesn't care about looking at a screen all day..
No contact with people there..But I have told her, just play the market from 9:00-12:00 each day, and I will try and get home for the 3:30-4:00 P.M. action each day, and you will have a nice part-time job, take vacations and do other things when you want too, and take orders from no one..
The reason a good daytrader can make more money than an investor, is the matter of timing and money management...Hoffy, may get his $30.00 on IATV, but if I had trailed that stock recently with a trailing stop, I would not only have made the money that Hoffy is making, but an additional 50%..I told my wife that IATV would reverse in the 13 area but she was experiencing the frozen rabbit syndrome, plus had to go teach English as a Second language to a lady from India, so she missed the run. But she is learning and next time will jump when a stock stalls in my target areas. All the best to you..Don't trade what you have in your IRA, stick with what you are doing, you are doing fine.. Mark |
