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Home Trading
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iPunter
Supreme |
12-Jan-2009 10:31
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Knowing the true nature of the stock market is important. |
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iPunter
Supreme |
12-Jan-2009 10:25
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The point is it is that due to their speculative nature, every stock market transaction is more a bet than anything else. And one can not only make money... one can also lose a lot of money. The latter is not being emphasised enough, and the urge to make money fast often clouds judgement...
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AK_Francis
Supreme |
12-Jan-2009 09:42
Yells: "Happy go lucky, cheers." |
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Ha ha, d wise say of white or black cat, always stand.
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elfinchilde
Elite |
12-Jan-2009 09:34
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betting, trading, speculating, investing. call it as you like it. I don't quite care the terminology as long as it makes money. heehee. cheers! |
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iPunter
Supreme |
12-Jan-2009 08:46
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PS... |
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iPunter
Supreme |
12-Jan-2009 08:42
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Don't get lost in the trees... it is most important to see the forest for what it is... It is most important to know, as early as possible, that :- Playing the stock market is not 'trading' in the usual sense of the word, ie the buying the selling of goods. Trading goods is almost certainly to be profitable as long as the demand for the product is there. But it is not the same with stocks. With stocks, the term 'betting' is more appropriate than most people realise. In stocks trading, one essentially bets on the next move of the price. One is actually taking on a risk, no matter what the odds are. One is better off at Gentings, and it is more enjoyable too. Thus, if one wants to make a living 'trading' stocks... if it is that straightforward, every person would be trading stocks for a living (and fund managers would not need their jobs at all!)... hehehe... Banish the idea!* ( *It is different if one plays stocks as a cherished hobby). |
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elfinchilde
Elite |
11-Jan-2009 14:29
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edit: for those curious about figures, the hard calculations (just mine): in order to start out: MINIMUM requirements, such that there is a small margin of safety: 50k free cash as capital. a basket of about 10-20 stocks that you watch: this is your trading list. you should trade only 2-4 times, max 5x a month. Do NOT trade more than this, because it either means you're getting impulsive and buying everything in sight, or that you're making wrong judgment calls. Also: the more entries/exits you make, the higher the chances for error (buyer's remorse, etc) for which you can expect to flip about 4-5k on average a month, if you're good. a more realistic figure for beginners would probably be about 2-3k a month. remember: you do not need to get it all; you only need to get enough. So risk accordingly. And actually, rather than trying to milk a lot out of your funds and getting stressed, the first aim of a trader is consistency. ie, how much can you comfortably make a month, without overreaching yourself? Since from there, it is a simple scale-up operation. ie, don't aim to make "tons of money". Aim to make consistent money at the beginning. And the hardest thing to do, ironically, is the easiest. Once you've hit your monthly target, to shut off the screen and not trade anymore. hope this helps anyone who's interested. above is just my personal view, so caveat applies as per usual. :) |
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elfinchilde
Elite |
11-Jan-2009 14:16
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yes, i'm trading full time currently. if you wish to be a fulltime trader: you need: funds, experience in the market, and discipline. Technical or FA skills would be good, and i don't just mean basic TA skills like williams down = buy, williams up = sell. you need to know the intricacies of each stock like the back of your hand; the players in it; how does the stock usually move. keep in mind though, that i've been trading part time for more than 7 years before finally doing this. experience is necessary; also, as i posted elsewhere: a certain very rational cold-bloodedness. you don't fall in love with a stock, and you need to move exactly as your indicators tell you to do, even if it means going against popular opinion: which also means your technical/reading skills have to be excellent before you can trust your own reading. scotty is right too: forget about making tons of money, especially at the start. if you risk for that right at the start, chances are that you'll be part of the 95% who goes bust. also: be prepared to blow a few accounts before you finally get it right. what i advocate: start out parttime first; really practice, then when your trading can pull in equal to your salary, quit your job, part time work, full time trade. this way, you have an income stream still. whatever it is, NEVER quit your job and go fulltime trading with no experience or funds in hand. that's a sure-fire recipe for disaster. dreams and reality are two different things. or as they say, "The market is a very expensive place to find yourself." cheers! |
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baseerahmed
Master |
11-Jan-2009 12:40
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i wouldn't know if they are full time traders in the strict sense but ....elfinchilde and decipher come to mind for someone who switched to trading from a full time job .. elfinchide : http://www.elfinchilde.blogspot.com/ decipher : http://www.growmoney.blogspot.com/
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wacko111
Member |
11-Jan-2009 11:42
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If you are refering to retirees then i don't think they can be regarded as full time traders, as i presumed them to be investors? As in full time traders who are doing it as a job. Yeah |
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Blastoff
Elite |
11-Jan-2009 11:26
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There are some... Mostly retirees as they have the money and time. No offence to them! In fact, I respected them for their great wealth of experience. 
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wacko111
Member |
11-Jan-2009 11:20
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But are there any forum user here that are full time traders? Care to share? | ||||
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Blastoff
Elite |
11-Jan-2009 10:52
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I tend to agree with you. It's not as simple as it seems; you need some factors before you can embark to full time trading. Of course the first thing is money, some knowledge, experience and .....
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Livermore
Master |
11-Jan-2009 10:24
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Before you go full time ask your self this question. Can you make more money than if you hold a full time job and trade part time? | ||||
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scotty
Senior |
11-Jan-2009 09:08
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Many trading courses out there make a lot of money by promising that you make tons of $$ by trading at home. Many people have attended such training and regret spending the money on them after they do not realise their dream. | ||||
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AK_Francis
Supreme |
09-Jan-2009 23:49
Yells: "Happy go lucky, cheers." |
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There is no harm to go into stock trading as full time job. However, d criteria are, u must be experienced in stock trading, be vigilant n most importantly, u must hv capital to sustain d activity should stock market plunges. A typical exp of STI since last mid yr. | ||||
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DnApeh
Master |
09-Jan-2009 22:09
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Agree with you. Should be the other way round. Be a successful trader 1st, then chose whether to continue working.
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singaporegal
Supreme |
09-Jan-2009 21:54
Yells: "Female TA nut" |
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I know some friends who have just lost their job and are thinking of trading full time for a living. I think that is a bad idead - they may make a bad situation even worse. 90% of traders lose money. It takes years of practice before you can be profitable on a regular basis.
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iPunter
Supreme |
09-Jan-2009 20:59
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hahaha... do you mean live by betting on shares... hehehe...
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tchekchuan
Member |
09-Jan-2009 16:06
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Hey anyone out there who lives by trading shares at home or any WIFI location ? |
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