posted
Im new to the stock game and I was wondering if any of you have actually done so well that you could quit your job and just trade all day..Im curious about how much money you can make annually from just trading.
posted
Well I am self employed so I havent left my business because I trade all day long anyway. I have been trading for 5 years. Some good some bad. I have made the most money in the last year trading pennies. I have almost doubled my investment in the last 3 month. I trade in and out and try to hold some shares of any profitable trade. Trade some before you quit your job and you will know if you can do it.
Posts: 55 | From: West Allis, WI 53227 | Registered: Feb 2004
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If you want to do this full time--you should pick some of your INVESTMENT money and set it aside from your RISK capital---those figures are variable depending on your situation---a college kid should probly have 90% of his/her money available for risk cuz it'll just go to pizza and partying anyway--LOL
Start trading with some specific goals to reach--as you fail-- LEARN-- as you succeed--LEARN--you will soon LEARN whether this a game for you or not--making a living is relative to your capital and to the markets in general--put some money back for a rainy day cuz even in Hawaii IT RAINS--LOL welcome to Allstocks we are all a little crazy here(some just hide it better than others and i personally don't care) but remeber that if you are going to WORK-- you should enjoy it if possible. Life is like a doo doo sammich--the more bread ya got the easier it is to take. OOP--gotta run --here come those guys in the white suits again---see ya when i find another wireless hub--LOL
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kdsurrett, I would not consider quitting your job based on a premise of making good money investing in stocks.
If you are married, have children, you certainly should not quit your job, and should be looking at long term investments based upon professional opinion.
A majority of people who become private investors, lose money quite consistently.
Only a handful of investors actually turn a profit investing in stocks. They do so because investing is a full time job for them, and they can afford to lose that job.
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Thanks for the fast reply..I'm not sure what Im doing but I guess I'll try to learn as I go along and maybe I won't lose to much while Im learning..lol
Posts: 23 | From: cataula,ga | Registered: Feb 2004
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kdsurrett, when I started trading I had one job (I own a commercial fishing boat). I still fish the boat, but now I take occassional jobs with a coastal freighter hauling dredging equipment or fill in on charter boats, I write freelance articles for sport fishing rags, write sci-fi(s), and anything else I can do to support the "habit". LOL but true. Incidentally, the same advice appears when you start writing, "Don't quit your day job." Mad
[This message has been edited by madmacd (edited February 18, 2004).]
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Having a job with good benefits, a 401K plan, and other niceties outweighs the salary for me. I made more last month on pennies like NNCO than I did in salary.
Posts: 163 | Registered: Feb 2004
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The best thing to do before you start investing your hard earned money into companies you hardly know anything about is research and learn. A good place to start is: http://stockcharts.com/ Start at the top of the page at chart school. Reading and interpreting charts are a big part of anilizing a company and it's stock history. Master the Art and you will succeed! Good luck!
Posts: 9 | From: Oregon, USA | Registered: Feb 2004
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I started with $1000 and lost it. Then another 1000 and again. Meanwhile learning from my mistakes. July 2003 I've put $6000 into my trading account and experienced a lot more comfort of being able to average down when needed or buying more shares at a time so a stock wouldn't have to rise 20% before gaining back more than the costs. Totally $15.000 invested sinds July 2003 and more than doubled my position as of today. I'm pretty sure if I could be at the PC all day, my gains would be even better. But if all boards like this one would close down I'd be there with my pants down and be glad I have a daily job.....I guess.
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Old former marine buddy of mine day trades full time for a "living". I use the term loosely because he seems to barely make the ends meet and generally lives very stingy, but who knows?
From what I've seen he doesn't seem to put a whole lot of time into it so maybe it's a case of "you reap what you sew?"
[This message has been edited by NukeMeds (edited February 23, 2004).]
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