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Success is in the eyes of the beholder. Depending upon what you trade, the
risks involved, etc. usually determines what sort of return you should look
for. With the type of trading we do, since it is very risky with a large
exposure to loss, we look for a high return on investment.
OTOH, I have a friend who writes/trades put and call options versus stock (I
think) and as long as the market doesn't go crazy, he locks in his profits
when he places his orders and all he does is wait for them to expire
(usually within a month). For the last 2 years (in this market) he's been
doing quite well. He has never told me his annual return (not really polite
to ask) however I know that last October and November he made about 35% a
month. I don't know if these were exceptional months or average months. :)
He went to a seminar by Wade Cook (whoever he is) and has been doing quite
well ever since. He now does this full time, so that's real money we're
talking about here. He's been trying to get me to attend.
When he was working, he never really set the world on fire and after many
years on the job got laid off. He says it was the best thing to ever happen
to him as we now makes more money every two months than he ever made
annually. I don't know anything about this Cook chap, other than what
George told me. I don't know if this system is peculiar to our current
market and won't work in other markets or not.
Regards,
Guy
Fax (630) 604-1589
-----Original Message-----
From: owner-metastock@xxxxxxxxxxxxx [mailto:owner-metastock@xxxxxxxxxxxxx]On
Behalf Of URNMOR@xxxxxxx
Sent: Monday, February 14, 2000 7:01 PM
To: metastock@xxxxxxxxxxxxx
Subject: Trading goals
To be very successful as a trader what should one expect for a yearly return
on their trades. I am not referring to a day trader or a florr trader but
one whose philosophy is to buy and sell a position normally within 30 to 60
days. I am trying toestablish a goal but I am also looking for a benchmark.
Thanks for any assistance
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