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I don't agree that day trading might not make as much as longer term
trading, but over time a day trader will move to longer term and may
actually have to change as he becomes to large to get trades off.
I do hope we can encourage the newbie trader. We need as many
ignorant guys as we can get. In the last two weeks I have failed to
get more orders off due to weak bids or weak offers so we really need
more buyers at the top and sellers at the bottom. Lets all get
together and let these boys and girls know trading is easy and we all
make 1,000% per year and only trade until 11:00 am EDT.
So come on you first time traders jump right in and be a billionaire
by the end of 2005.
Warren B
Saturday, October 2, 2004, 2:59:35 PM, you wrote:
h> I see your point that if one can make a much greater ROI when managing a
h> small fund than a huge amount of capital.
h> In fact, any thing is possible in the market place. Some market wizards
h> claims to have several hundreds percentage a year. One needs to keep in
h> mind that these are rare individuals and they have already gone through
h> their development and training, NOT when they started out. The market is
h> full of opportunities to let you make a lot of money, IF you have
h> prepared and trained yourself to take advantage of them. Given a
h> certain amount of capital, the most important factor is the trader.
h> There are many experienced and successful traders in this forum. For
h> those starting out as new traders, the people, who want you to attend
h> their $3000+ trading/investing seminars, would tell what you like to
h> hear (Human nature, we only hear what we like to hear). They will show
h> you the promise of 100% ROI or more easily. All you need to do is to
h> attend their seminars (However, most people find that their trading is
h> no better after the seminars.) That is one of the reasons why so many
h> people have the notion of very high ROI's.
h> If one starts out a new traders and really have the love for the art of
h> trading, here is the naked truth about trading that most people don't
h> want to hear. Linda Raschke, one of the market wizards, advised,
h> "Understand that learning the markets can take years." I would add: Be
h> prepared to make 0% ROI for the first two years. I mean, no money,
h> period. And that is better than the average trader (Wow)! Use the time
h> to FOCUS on training and developing oneself as a trader [#], as one
h> would do to become a doctor and lawyer. If one happens to make a lot of
h> money the first year, that is great. Even after one becomes good at the
h> art of trading, targeting for 50-100% ROI a year is a great goal and
h> possible. However, I would not count on anything >50% ROI for my living
h> expenses.
h> On the time frame of trading, day trading does not necessarily mean
h> higher ROI. Moves of significance take time to develop. I find my best
h> trades lasts for days or weeks. Many new traders want to do day
h> trading. There is nothing wrong with day trading, but it requires
h> higher levels of mental skills than swing trading or position trading.
h> Harrison
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