Originally posted by GlenSausio
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Reply to: any traders here ?
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Previously on "any traders here ?"
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Originally posted by SantaClaus View PostSorry, I don't have time for juvenile delinquents.
But for the record, I gave up contracting in 2008.
Have you considered stopping the gambling and maybe retraining?
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Originally posted by eek View PostI think the phrase is owned....
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Originally posted by GlenSausio View PostHello fancy face.
If you were a successful trader, you wouldn't be contracting in IT.
You've perhaps been lucky. You'll do your bollocks eventually.
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Originally posted by GlenSausio View PostHello fancy face.
If you were a successful trader, you wouldn't be contracting in IT.
You've perhaps been lucky. You'll do your bollocks eventually.
But for the record, I gave up contracting in 2008.
Leave a comment:
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Originally posted by SantaClaus View PostI think you guys are getting investing mixed up with trading.
Sticking some money into long term share holdings is not trading.
It is true that 90% of traders lose money, but that's because it was always a hobby for them and they didn't persevere for the 5 years that it takes to learn a profession, be it accountant, doctor or lawyer.
If you were a successful trader, you wouldn't be contracting in IT.
You've perhaps been lucky. You'll do your bollocks eventually.
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I think you guys are getting investing mixed up with trading.
Sticking some money into long term share holdings is not trading.
It is true that 90% of traders lose money, but that's because it was always a hobby for them and they didn't persevere for the 5 years that it takes to learn a profession, be it accountant, doctor or lawyer.Last edited by SantaClaus; 17 November 2014, 16:08.
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Originally posted by raphal View PostIt is not for day trading I guess.
One of the comments from Asirikuy admin reads " it might take you about 2-3 years to live from this while you truly get an understanding and learn how to do this"
But it's not set it and forget it, to make even a part-living out of it seems you have to be 'into it' and enjoy dicking around with it. That's not me yet but I'm interest enough not to let it die.
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"Trading Platforms" for day trading are a mugs game, you'll lose your money.
What you want is an on-line broker that just gives you access to the Stock Exchange.
My on-line broker has an interesting statistic actually shows how customers are performing with their portfolios. There is a small percentage of investors punting on speculative trades who earn a bit more than investors with solid portfolios (eg Blue chips and bonds), but most are making a loss.
i.e. go for broke you might earn 20% (tops) but on average you lose 25% because an awful lot of them are wiping themselves out.
With a conventional boring portfolio i.e. following the FTSE tops you earn 11-12% but your losses wouldn't be much more than 10-12% and on average they're getting 5%.
Conclusion, it aint worth speculative trading because the risk isn't worth the extra few percent. Just learn to be a good trader with blue chips and try and get 10-12%. For that you don't need a trading platform.
90% of day traders lose 90% of their cash in 90 days
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Just say no
Trading from home is a mugs game. The brokers are selling you a dream. They just want you to trade because they take a commission when you trade, doesn't matter if the market goes up or down.
Banks make money in the same way, putting on customer trades (they can do that cheaply) and skimming.
Even prop trading in banks, which has largely died out , is done by cheating (front running, insider trading), co-location gaining an IT advantage on your trade.
And on top of that,your broker may be gaming you - trading against you.
Invest long term, and invest in yourself. I've seen IT guys wiped out by piling into trades they were doing well on for a few months- then ... Boom... 250k turns into 30k
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Rule no.1 when checking out a trading system... find it on a forum and go to the very last post:
http://www.donnaforex.com/forum/inde...topic=3714.270
Also, beware of backtested systems with curve fitted results.Last edited by SantaClaus; 16 November 2014, 22:00.
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