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Ill look into those but the breakdown pie pic i attached is the breakdown that i got from my friend and she got +32% last year
Im going to copy for 2014 and hoping to get similar result(hopefully)
OFFICIAL STOCK MARKET & ECONOMY THREAD VOL. SCHOOL'S OUT
- Thread in 'General' Thread starter Started by dey know yayo,
- Start date
Im going to copy for 2014 and hoping to get similar result(hopefully)
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Can someone school me on this?
Let's say I want to be a day trader as a full time job what steps must be taken? Best places to start reading etc?
Let's say I want to be a day trader as a full time job what steps must be taken? Best places to start reading etc?
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SFUN
2014 already been so good
2014 already been so good
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Open an account with Etrade, Schwab, TD, etc.. Then learn that swing trading will make you more money than day trading. Read William O'Neill's book to get an idea of chart reading, Jesse Livermore's book, Benjamin Graham's, etc. Pick up a copy of IBD or Barron's to get an idea of what you're getting into.
I really taught my cousin a lesson about shake outs and ******** upgrapdes/downgrades with FSLR from yesterday to today. GS probably bought a bunch of shares these past two days. My only problem with all of this is that I wish I bought more shares. Could only pick up another 15 yesterday because of cash limitations. Not really tryna go on margin either. I try to keep that to quick day trades at the most.
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rhythm808
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Really wish I didn't sell out of LEE for that 5% day trade in ELMD...it seemed like a good idea at the time but LEE has went up 26% in 5 days
I guess at least it means I know what I am looking at and can read charts pretty well.
I guess at least it means I know what I am looking at and can read charts pretty well.
rhythm808
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Go on youtube, google, watch multiple tutorials from multiple people in order to pick and chose the aspects which make the most sense to you. I wouldn't pay for anything, I didn't. Not that I am an amazing trader, but I think I am fairly good. The best thing I can tell you is to really be critical of everything you read and watch. Remember these are just regular people making videos, they are human like you, and it is possible for them to be wrong when they are convinced that they are right, myself included.
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So is anyone in here doing trading for a living and not just a side hustle?
I'm talking about doing this full time, would I have to work for a company or can this be done at home? Let's say I open an etrade account would 5k be enough?
I'm talking about doing this full time, would I have to work for a company or can this be done at home? Let's say I open an etrade account would 5k be enough?
rhythm808
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I wouldn't consider full time trading until you had 3 years worth of living expenses saved up in a savings account, just in-case you hit a bad streak, or the market tanks, and you aren't shorting for whatever reason.
You don't need to join a company, although that would be nice since you'd learn some of their techniques. Otherwise, all you need is enough money. Personally I think that you shouldn't full time trade until you have a $100,000 account. That way you can make 5 $20,000 "bets." 1% per $20,000 is $200....just keep your exits on losses at .25% of your paid price. This way you need 4 bad trades to equal one good trade. More often than not a good trade will go up more than 1%....but if you play like this you can have $1000 days A LOT.
5k is enough to trade....but I wouldn't full time trade with it.
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So Mulally's not leaving F for MSFT. Maybe some positive for F finally?
That EOD rally for NUGT was crucial
Thought I was dead meat.
That EOD rally for NUGT was crucial
Thought I was dead meat.
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rhythm808
Banned
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I like Ford, I am waiting until their earnings though they have a nice size gap to fill if they beat what is expectedSo Mulally's not leaving F for MSFT. Maybe some positive for F finally?
That EOD rally for NUGT was crucialThought I was dead meat.
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MDBX is at $90 after hours. my gosh. just once i need to be on the winning side of a pump up like this.
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Purchased my first stock yesterday. One share of TMUS, might not seem like a big deal but to finally have my Roth set up and to purchase something for it is big for me considering my past and how long it took me to get here. Still reading and still learning. Got only about $66 of cash to buy w/.Don't know if I should wait to get the $100min to invest in VITSX or just invest that in some low fuel/energy stocks I've been looking at.
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^isnt there a transaction fee?
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From my understanding, there isn't, could be wrong tho. I know there wasn't thru Vanguard, but it is their fund so...
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Anybody licking their chops for a short sometime soon? +600% in the last 6 or so sessions :x :x :x
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If you're purchasing individual stocks, the first 25 or so transactions are waived. No transaction fees for Vanguard's ETFs/mutual funds. This was true in the summer at least since they're who I used when I first started.
Also, purchasing a single share of TMUS at ~$30 isn't gonna get you far
Recommend you try a virtual account if you want to learn without risking anything. Treat that virtual account as real money obviously.
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VRX 
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If you're purchasing individual stocks, the first 25 or so transactions are waived. No transaction fees for Vanguard's ETFs/mutual funds. This was true in the summer at least since they're who I used when I first started.
Also, purchasing a single share of TMUS at ~$30 isn't gonna get you far
Yea I know, I bout the one stock of TMUS to get my feet wet
. I only have $100 in my Tradeking account right now and I didn't want to tie up too much into TMUS, just purchased 20 shares of FCEL. I'll keep adding more and more money this Roth, won't be in large sums but $50-$100/mo. until I can afford more. I figure I should let the money I have right now work for me instead of waiting to put more in, might be low but it's whatever.
I have my account through Tradeking so I'm charged $4.95 for each stock purchase which is not bad considering I won't be going too crazy right now.
I've been playing around w/ UPdown.com since we had that competition on NT a few years ago and use that to learn how to invest on top of reading the books suggested in here and using the tools on TK.
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Yea I wouldn't start day trading as my full time gig with 5k. I tried it and lost over 10k. The main reason was that I was under pressure to win. I had to make money to pay the bills and survive. I was focused on winning instead of trading well.
I mentioned this before but you don't have to be a full time trader to bank. One guy I know is a cross country truck driver and he trades from his truck. He takes his breaks during the first hour or two of the day and does very well for himself. He doesn't have to work as a trucker but he enjoys it. I know another guy who is a dentist with his own office.
If you want to delve into trading everyday I would suggest getting a job at night as a waiter or bartender 4-5 nights a week so you aren't relying on trading as your income. You can be calm and let your account grow. No pressure because your night job pays the bills.
The key is to do your homework and be prepared with a plan for each trading day. Every night I spend 2-4 hours scanning charts and planning for the next trading day. I post 8-12 charts every night on my blog and a handful more on my twitter
I mentioned this before but you don't have to be a full time trader to bank. One guy I know is a cross country truck driver and he trades from his truck. He takes his breaks during the first hour or two of the day and does very well for himself. He doesn't have to work as a trucker but he enjoys it. I know another guy who is a dentist with his own office.
If you want to delve into trading everyday I would suggest getting a job at night as a waiter or bartender 4-5 nights a week so you aren't relying on trading as your income. You can be calm and let your account grow. No pressure because your night job pays the bills.
The key is to do your homework and be prepared with a plan for each trading day. Every night I spend 2-4 hours scanning charts and planning for the next trading day. I post 8-12 charts every night on my blog and a handful more on my twitter
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Trading with sound principals > Day trading
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Are ya not watching MDBX up 160 percent these passed 2 days...waiting for the crash for the bounce play
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to think it was at $8 ish a month agoAnybody licking their chops for a short sometime soon? +600% in the last 6 or so sessions
but mdbx has gone up to $200+ before so I expect it to crash again
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LIVE and MDBX stalking these for short trades. These parabolic / overextended charts are why I love trading. Corrections coming soon. Maybe in the morning
Edit: KEYW and VRS also. It's going to be a good week
NUAN setting up for another breakout soon
Edit: KEYW and VRS also. It's going to be a good week
NUAN setting up for another breakout soon
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LIVE crazy, wish I heard about that 2 days ago because I would be on an island off the coast of France right now
Still don't understand the faith in NUAN, company has a lot of weaknesses. They just announced some new devices but beyond that I don't really see a reason to be trigger happy on them
Still don't understand the faith in NUAN, company has a lot of weaknesses. They just announced some new devices but beyond that I don't really see a reason to be trigger happy on them
