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Topic: Question

srish523
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posted

I am new at this, and am wondering how worth my time it is. How well do all of you actually do at daytrading? Is it your full time occupation, or merely a hobby? Can you easily make a significant amount of money?

Posts: 3 | Registered: Nov 2007 | IP: Logged |

T e x
Member

posted

It will take you considerable time and spent capital to learn enough to do well at "day trading." You will find traders who post on message boards run the gamut from seldom to part-time to full time. No, you can not *easily* make a significant amount of money.

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Nashoba Holba Chepulechi
Adventures in microcapitalism...

Posts: 21062 | From: Fort Worth | Registered: Apr 2005 | IP: Logged |

chuck9
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posted

I am not a daytrader as such. I am a hit and run trader. I do not stay in a trade no longer than a day.

Most of my trades come when the market opens through about an hour and a half to two hours into the market. I am usually in a trade and out within that time frame. I actually only trade one time a day.

How long does it take to be able to make a reasonable profit? That depends on what you call reasonable profit.

What I call reasonable profit is $300 and up. On each trade.
To answer your question, how long did it take me to accomplish this. Daytrading or hit and run trading takes a great deal of discipline and knowledge and this does not come overnight.

Chuck

Posts: 330 | Registered: Nov 2007 | IP: Logged |

Spectacles
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posted

Can someone please explain the phrase 10 bagger,,20 bagger,,etc?
I'm not from this planet.

Posts: 235 | Registered: Jan 2007 | IP: Logged |

T e x
Member

posted

each hundred per cent = a bagger:

from .01 to .02 is one; from .01 to .10 is a ten-bagger...

not to be confused with "bagholder," as in "left holding the bag"

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Nashoba Holba Chepulechi
Adventures in microcapitalism...

Posts: 21062 | From: Fort Worth | Registered: Apr 2005 | IP: Logged |

JLo
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posted

Tex is right. You don't easily make a lot of money on anything I know of. It takes lots of hard work and risk-taking, and for myself, making colossal mistakes and have the nerve to come back. I trade short term options sometimes with hours to expire.

Posts: 130 | Registered: Jul 2005 | IP: Logged |

Machiavelli
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posted

quote:
Originally posted by chuck9:
I am a hit and run trader. I do not stay in a trade no longer than a day.

Chuck

I and some others would consider that "daytrading". Whether you make only 1 trade a day or a 1,000 trades a day.

Anything less then the time frames you use is called "sniping". Sniping is what i consider "hit and run".

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Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

Posts: 4669 | Registered: Mar 2004 | IP: Logged |

Machiavelli
Member

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posted

quote:
Originally posted by srish523:
I am new at this, and am wondering how worth my time it is. How well do all of you actually do at daytrading? Is it your full time occupation, or merely a hobby? Can you easily make a significant amount of money?

There is more to trading then "daytrading". Swing and Position trading for examples. I would recommend these two for a beginner more so then daytrading.

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Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

Posts: 4669 | Registered: Mar 2004 | IP: Logged |

chuck9
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posted

Mach, that sounds good to me. We will go with that. [Smile]

Chuck

Posts: 330 | Registered: Nov 2007 | IP: Logged |

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