# $100 net profit a day is my goal



## converted (22 April 2007)

Hey guys Im Craig and Im new here. I have introduced myself in the Beginners thread but Im after some info in this section to help me obtain some things in life.

My goals are this, quite "simple" but i know intrinsically hard to do from a standpoint of zero education at this stage.

* I want to make $100 a day net profit.
* I want my return on that day so I can walk away from my computer and get on with life after that $100 is achieved.
* I want to do that with as little financial outlay as possible


If this is an impossible task, thats fine tell me and Im gone, but if its feasable and all it takes is hard work and discipline thats good. I know if it was easy everyone would do it, so I here to learn. 
Im open to suggestions as to what books I need to read, what stock software I need to use, what online trader I should use, what sort of stocks offer me this daily short term gain etc etc. 
Any URL links for this would be much appreciated.


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## BradK (22 April 2007)

Hi Craig, 

$100 a day? You could wait until drought really hits Australia, and the Saudi's will have a World Vision type program. You could get onto that? 

If you are unfortunate enough to get rain, you are going to have to look for other ways to get your 100 bucks. 

You need to work backwards. 

CAPITAL:
How much capital do you have to outlay to get your $100 bucks per day? $100 bucks per day is $52,000 per year, or if you want it AFTER tax, its a bit more like $65,000 per year, which means you need to make $178 bucks per day (including weekends). 

RISK/REWARD
It depends on your risk/reward profile and your chosen investment instrument. But think about returns. How much return % can you expect to get. If you are trading and you break even in your first year, you are doing well. However, I would imagine that most traders in this market are earning upwards of 20% (although there is no way I can verify that). But, remember this little saying - never mistake a bull market for your own genius. Think about it. 

HOW are most traders going to fare in a flat or bear market? 

TIME FRAME
If you hope to get 100 buck from the market in a morning and walk away from your computer you are pretty sorely mistaken. Not saying it cant happen, but you need to be either a) very skilled or b) lucky. You need to work your 100 bucks over a week or month. Some days, weeks, and months will be bad, some will be good, some you will feel like Midas. 

EDUCATION: 
Someone said to me that you can either pay for a course for your education, or the market will take your money for your education. I have done a combination. The ASX website is a great place to start. www.asx.com.au - books such as Trading for a Living by Dr. Alexander Elder, or anything Australian by Chris Tate for example. 

MONEY MANAGEMENT: 
Make sure you can manage your money, or the market will munch you. People tend to fall into two categories. Either they control their money, or their money controls them. Make sure you are in the first category. This is not gambling. Some questions you could ask are - do you budget? are you disciplined? are you prepared to accept loss? 

If you are here to get a quick buck from the sharemarket you are going to be wrong. You need to put in the time and discipline to develop your own trading plan. You need to learn to cope with your emotions (greed and fear) and you will know what I mean by this when you put on your first trade. You will need to learn about fundamental analysis vs technical analysis. These are no easy, but can be mastered with time and effort. 

Noone ever arrives. There are that many instruments on the stock market, and people do what works for them. that is the key: having a plan and sticking to it.


All the best with it Craig. Look at the various forums on the web and learn. There are some great research on individual shares, charts, etc. But YOU MUST DO YOUR OWN DUE DILLIGENCE. Only YOU are responsible for where you put your money. Losers blame other people. 

On another point - forums are not places to ask for buy/sell advice. People can give you general information about finance and their opinion about shares etc. but we are not financial planners. In fact it is ILLEGAL for us to give you advice. 

Cheers mate, hope this helps 
Brad


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## jj0007 (22 April 2007)

A mate of mine told me he has been using the T-3 trading on comsec (where they allow you to execute orders up to $50k) and has been making $100 a day.  He would buy on market open and sell when the stock makes a 2-3c movement.  Has been doing it the past week.

I told him that is great when the market is going up...but if turns against you then you will be royally sc@wed ....made worse by the fact that its not your money and they will charge you dishonour fees, interests etc.


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## Temjin (22 April 2007)

jj0007, it is best you follow Bradk's advices and start doing more readings and tons of research.

You need to be made aware that you will NEVER make profit consistently in EVERY trades you have. You need to be psychologically prepared to accept loses and that it is all part of your overall trading plan. 

In reality, you have a LONG WAY to go before you could make $100 per day consistently (averaged over the long term accounted for winning/losing trades). I'm talking about thousand of hours of effort in here. 

If you feel you aren't committed to trading and you just want $100/day without any "efforts" and regard it as an "bonus" income so you can concentrate on your daily life, then I suggest you should look elsewhere.

Not trying to encourage you here, but just trying to make you aware of how much work you need to even consider achieving that.

And if you can, don't talk about $100/day, talk about making a % of profit of your capital consistently over the long term. (get your calculator out and start punching in numbers on the beauty of compounded interest)


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## jj0007 (22 April 2007)

Hi Temjin.  I think you meant to address "converted" here.  I do agree with what you are saying.

I have tried trading in the past with mixed success.  Overall came out on top but when I look back over the past 5 or so years...if I had held onto ONE of my top picks I'd be far better off than what I gained from trading.

So last year decided to "invest" rather than "trade"....reward has already been multiples of what I got from trading over the last few years.


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## Wysiwyg (22 April 2007)

Converted...you won`t make $100/day daytrading.You will lose more often than not and when you lose you will lose more than the $100 you hoped to win.

You will achieve much more with a longer term outlook.

But hey ... there is only one way to find out ..right?  :ald:


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## stoxclimber (23 April 2007)

Aiming to make $100 every day is like playing at the casino with a Martinggale system.


You can, if you are skilled enough, put your money in a situation where your expected daily return is $100. But theres a high degree of volatility, you could have +$800, or -$700 [or even worse of course!]


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## hypnotic (23 April 2007)

Hi Craig,

I don't believe this is an impossible task and outlay don't need to be alot too. You don't neccessary have to make money in an up market you can possibly make money in down markets with short sells. All you need to do is pick correctly if a index or stock will go up or down. You can do this with CFD (Contract for Difference). You can learn about it online or attend to free seminars by Mac Bank or other CFD providers. Highly leveraged tool you can make as much as you can lose. 

You need to have a clear trading plan (entry, exit strategy and stop losses), understanding of the markets and the economy.

I just read an article from this months issue of the Smart Investors who asked this lady to day trade with $10,000 for a week (5 days) in a CFD account. And she returned a neat 6700 net profit for the week.

In saying that it is not 100% guareenteed to work everyday or every week. One thing for sure is you need to learn about trends, companies, technical/fundamental analysis, how other exchanges, dollar, events, metal prices etc affect the stock market or certain companies. 

If you have just started i suggests you do a lot of reading and start paper trade and learn all you can and come up with your own style. If yo uhave any particle questions ASF members will be glad to help you out.

Good luck with it,  

Hypnotic


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## lrushing (23 April 2007)

Hi Craig,

In your initial posting you stated the following:

I want to make $100 a day net profit.

I want my return on that day so I can walk away from my computer and get on with life after that $100 is achieved.

I want to do that with as little financial outlay as possible

If you evaluate each of your comments independently, they seem reasonable.  It is when you combine them that the underlying problem surfaces.  You are focusing on profits first and not risk.  

Every trader’s success depends on his/her ability to keep the total $ amount of the losing trades smaller than the total $ amount of the winning trades.  Learning to take losses can be a psychological battle for new traders.  The real goal in money management is quite simple.  Every trader will have a bad trade, a losing streak, a bad day, and so on.  Learning to mitigate the risk in each of these situations will allow the trader to come back and trade another day.

Hence, you should refocus your efforts initially on preserving your trading capital and restate your objective in the short term to allow you time to learn, adjust, adapt, and progress as a trader.


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## >Apocalypto< (23 April 2007)

converted said:


> Hey guys Im Craig and Im new here. I have introduced myself in the Beginners thread but Im after some info in this section to help me obtain some things in life.
> 
> My goals are this, quite "simple" but i know intrinsically hard to do from a standpoint of zero education at this stage.
> 
> ...




Nothing is impossible and if you work at it hard enough and long enough then you can archive it.

You may have probs making exactly 100 per day, some you may make more others nothing, its all about the end of week average.

At the beginning only make very small plays till you develop a winning system that produces profitable weeks for at least a couple of months you want to come out on top after those months not breaking even if you do you still have probs with your system.

If your looking to day trade I don't know if paper trading will really help that much as it does not teach you anything about how your emotions will come out in the real thing.

Make tiny size trades and write down what works and what did not and in what situation it worked or did not. analyze every thing you do.  

Day trading is a tough gig, you have to always be watching the price looking for set ups. if your away from the screen for 30 min you could miss a entry, that missed trade could make your day or week not profitable.

Good trading.


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## Realist (23 April 2007)

$100 a day is not so easy to do.

It'll cost you $40 in brokerage for one buy and sell.

You'll need to pay 50% tax on profits as well.

Your goal is not a logical one to me. Because you will without question also make losses. 

To average $100 a day after tax, you need to be making $300 a day on most days. Then brokerage, tax and bad days that incur losses will wipe out 2/3rds of your profit.

If you hold overnight you'l make a big loss every so often as well.

If you never hold overnight you'll spend a hell of alot in brokerage.




You need to think more longterm I think.


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## ROE (24 April 2007)

If people can make $100 a day no one need to go to work  ...

Imagine you have 100,000 and to make a hundred a day that is like $52,000 a year, that is like 52% return....

Even if you have 200,000 that still 26% return and if you can do that do that year in year out you be a very very rich man   . 

In short it's not that clear cut... investing is all about putting money aside and make sure that capital grow at a rate above inflation so you don't go back ward..anything else above that is a bonus...


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## mit (24 April 2007)

converted said:


> * I want to make $100 a day net profit.
> * I want my return on that day so I can walk away from my computer and get on with life after that $100 is achieved.
> * I want to do that with as little financial outlay as possible




The first is possible but you will need to accept volatility in daily returns. In most stuff I do my daily standard deviation is around double my daily mean.

The second one will kill you in the long run. If you cap your wins and not your losses you will end up screwing yourself. A lot of your profit will be made on exceptional days.

The amount of money required is dependent on your trading ability and your stomach for volatility in returns. Remember that during draw downs you get a double whammy as you still want to extract your $100 per day as well as suffering the loss.

My advice is to initially trade small and not have a profit target. Analyze your results and this will answer your own questions.

MIT


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## Out Too Soon (24 April 2007)

Converted, go for it. I'm getting close myself.  

 Forget about actually taking a $100 profit in one single day each day, you'll find out that the risks you have to take to acheive it would see you broke in no time. 
A better way to consider $100 per day is a $100 profit per working day averaged over a month meaning you want to average ~$2200 profit per mth. The easiest way to calculate it is $2200 profit on shares sold each calendar month no matter if the shares were held for 1 day or 6 months. Spend about a year practising (with real money/trades), Don't waste money on any type of education just read, search, read & research on the internet. All the info is there, start with fundamentals & longer term investing & as you soak up more info trade more frequently picking up all the other types of analysis on the way.

As I said, I'm almost there having on avg $18K of the banks money invested at any time (up to $26K down to $10K at present). Be careful starting out  right now May is on avg a bearish month. Small investments to begin with gradually building with your confidence. Expect to make the bank rich with brokerage fees to start too while you struggle along. Dont get frustrated & take big risks, trade patiently read, study & learn. Don't have all your equity invested at any time no one can predict market crashes or corrections & you want to have spare cash when a market hits bottom (early June I'm guessing)

An avg $200 per working day, ie $4400 per mth is a better target because some months you just wont make it and some months are too risky (like April leading into May now). You will learn that timing is everything & nobody gets it right all the time.
Time spent, like anything the more time you invest in it the more you will get out of it, sometimes I spend most of 14 hours at the screen, sometimes a half hour, as time gos by I find I spend less time to make more money but I've put in some very hard yards. You must enjoy it too, knowing how hard it is to make money in any form of work myself means I get a thrill when a trade gos my way. You have to get a big enough thrill from it to keep going.
The 2nd 6 mnths are the hardest, maybe I should right a book on it. 

PS: stick with Aussie Stock Forums, don't make the mistake of thinking others are the same & never take for granted what you read on a forum or anywhere.


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## violet (25 April 2007)

Some good ideas on this thread.
It sounds not an easy target for me.


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## SteveM (25 April 2007)

BradK said:


> Hi Craig,
> 
> $100 bucks per day is $52,000 per year, or if you want it AFTER tax, its a bit more like $65,000 per year, which means you need to make $178 bucks per day (including weekends).




It's actually $26,00 per year. If you are married, with children, on this income you would be getting income support from the government.


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## bvbfan (27 April 2007)

Someone please explain how someone can earn $100 a day and make $52000 a year?

365 days so surely that would be $36500 (add $100 for those leap years)

Trading days would be around 260 at most so even then would be $26000 hardly seems worth it, but I suppose if you include travel costs to work and other time it's not too bad if a basic no skills job is paying around $30000


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## resourceboom (27 April 2007)

If I had a couple of hundred million to invest, I reckon I could average $100 per day !!


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## converted (28 April 2007)

Thanks for all your thoughts in this thread. Very constructive and from I have have read completely possible. The variable is peoples trading strategies not that its physically impossible.
What I have taken away is great. 

$100 clear profit a day seemed reasonable to me as it was around $500 a week or around $24000 a after tax. (in fact lees cause I wont be trading on weekends so thats around $20k) Brokerage fees and software costs and the like would eat into this but would also be deductable from this amount, but yes I was talking clear profit of $100 so my goal would be $300 gross a day to take into account/brokerage fees etc... got it....

$24000 would make a big difference in my family's life...single income and 4 kids and a mortgage. Thats a pay rise of 30% nett try getting that in todays market....it will definately help with the petrol bills in my Datsun and my Sea Ray 180 (oops maybe I shouldnt use Datsun and Sea Ray in same sentence that will have someones radar going crazy  but its great to overtake a Porsche 930 turbo or an M3 on a racetrack and see their jaws drop...hehehe I keep the class for the water speed for the track other way round will send you broke. )
I also work a job in IT which is shift based and Im in front of a PC 12 hours straight a day, so no probs there with tracking volitility....especially with the right trading software.
All I needed to know was if it was possible. And yes from what Ive read it is...I wasnt worried about hard work Im used to that. I guess I was more worried about my emotions in picking a few long term stocks with large outlay and hoping for the best, but with good anaylsis tools work from prices in real time on the web, I cant see how it would be impossible. (I mean orica went up 25% in a day surely some software would pick this trend and I could jump on really quicky and ride that wave??? then pull out once the profit was made??? and surely companies lose just as much in a day and I know you can make money on downward trends as well which really appeals to me)

Also too my goal would keep my greed factor under control. Once Ive seen the $100 made then I would put it aside for the day. If I acidentally made more on the day great, but I would have to discipline myself to level off. If I hadnt made any money on the day them Id work bloody hard until I got there.
Once I was doing this on a very consistant basis for about a year. I would increase it to $150 or $200. 

Yes it would be hard work every day but beats showing up at a boring insignificant IT job for the next 20years (if it still exists...BTW if anything is volitile its an IT job these days so Im not worried about a volitile day trading market).

Also if I was day trading and looking at making profit on market fluctations whether it goes up or down I also thought I would be immune to a large market correction which could happen on any day. My thinking would be a long term investor who hasnt forseen a correction would lose alot of capital on that day and most of the hard work in the last few years would be wiped out. I may only lose $100 for that day so this was my line of thinking too.

*Ok so next step people would recommend is who would be the best online broker I could sign up to...ie low fees no join up fee etc etc? Etrade Commsec or Westac or other?
*What capital would I need to start with? (Im thinking $1000) even If I start making $10 a day Im happy at this stage during my learning process
*The big question is what software may I use to help me with this which gives me real time and no delays?? and does some online brokers have software built in?? I have done some quick reading on the forums and have read about Amibroker and Metastock scan vest etc etc Does anyone have a full list and comparison chart (like buying a car)??? Is there one that is day trading specific???
* I will never ask for advise on which stock thats illegal however I will need to know how to set PE's etc etc in the siftware so I can let the software and my preset parameters make the choice and not my emotions. (I will keep that for the racetrack)

Anyway your feedback and thoughts have been greatly I appreciated and the time you have spent posting when you yourselves have a million better things to do shows me that the people on here are of great character and reputation and that you all have a vested interest in other people success which makes this a great country and democracy..thanks again...


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## Holdon (28 April 2007)

If you are guaranteed $100 per day then multiply your system by 10 or 100....or 1000....

IMO the only way to guarantee $100 per day is to go get educated an go work in the mining industry....you should make double and possibly even triple that....I have....$5000 minus tax in a week.

There are no guarantees in life except "death and taxes"

I do OK though.


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## nizar (28 April 2007)

Holdon said:


> I have....$5000 minus tax in a week.




Solid.


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## clowboy (28 April 2007)

Converted,

I don't want to discourage you.

This is obviously something you want to do so I say go for it.  Carpe Diem.

Having said that your aproach really goes about it in the wrong way.

Assume you start with $1000.  And assume you need to make $300 a day before costs to get to your $100 a day profit.

Even if you trade twice every day and are right one in two trades with losses caped at 10% (includes costs) you need to make 40% profit on each of your wining trades in order to meet your goals.

Being a little more realistic brokerage is $20 each way and excluding tax/software costs etc that means you only need to make $240 per winning trade vs losing trades (at 50/50 W/L).

So realistically you need to trade twice a day, have a maximin 10% stop on your losing trades, make at least 24% on your winning trade, never have more than one losing trade in a row, and be able to exit the first trade and enter the second in the one day.

What will you do if 7 of the 8 hours the market are open have passed and your trade has gone nowhere?  

$1000 won't cut it.  Nor will making 24% on every second trade day in day out.  Re read this thread, you need to base your stats over the longer term.

You need to have enough capital so that you can have up to say 5 trades open at one time.

Why trade only 1k at a time?  You say emotions are under wrap, so trade 100k per trade or 500k per trade?

The less you trade with the less emotional you get when thngs go wrong.  2K is a resonable starting point (in my experience) as it is both low enough to help remain calm and high enough to not erode all your profits from brokerage (comsec is the cheapest/best value at $19.95 each way) (5k opening balance though).

using 2k trades also halves your winning % needed to make $100 a day.

I tried to find the poll on previos returns for members but have had no joy.  From memory though not that many exceed 50% PA.  That said they would be the more experienced members + we are in the midst of massive bull run.

Even if you got 50% PA you would need $50+k to meet your goals.


Do some sums for yourself, change your aproach to simply being consistentley profitable and read read read.

Becoming a trader is a really emotioanal process (amoung other things).  It took me two years just to become profitable, and how many times did I just want to through it all away?  Even now with reasonable profits this year I still find myself going, If only I put everything I have into WMT and left it there.  We each trade differently but we each fight the same evils.


Hope this helps a bit, and perservire, where there is a will there is a way, just make sure your goals are realistic otherwise you have cut of your head before starting the race.


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## retroaugogo (28 April 2007)

IMO you're looking at the wrong market.

The forex market is so much easier to trade and to learn.
There's only a small number of major currencies,the leveredge is higher and the forex trading community is so much more helpful in sharing systems.

In the sharemarket the money comes in surges and rushes whereas in forex it's easier due to the range of a currency, to pocket a fairly consistant profit.

Starting with $1000 you're massively undercapitalised in the sharemarket whereas many start with this amount in forex.


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## Temjin (29 April 2007)

Converted,

Few points to make - 

1.) You are WAY undercaptialised at the moment. $1000 is no WHERE NEAR enough to trade at all, regardless of the market. You "might" be able to cut it in FOREX by trading 0.1 lot consistently with no commission, but spread cost only. However, it will be a long time before you can take the advantage of money management through geometric growth. That is, in order to earn more, you need to trade more than 0.1, but your risk per trade will increase potentially due to your extreme low starting capital. 

2.) You said you believed you are immune to a large market correction if you are day trading. That is very wrong. Market drop much faster than you would expected it. Your broker will most likely be unable to fill your "stop loss" order if such rapid correction occur in a matter of few minutes or even seconds. Never assume such things at all. 

3.) Ohhh..there are lot more points I want to make here..but

I'm not trying to discourage you as well, but you are no where NEAR the level to make money consistently @ $100 / day. You say you want to try with $1000 and is happy to get $10 per day? In reality, that wouldn't be possible if you are trading the stock market as the transaction cost would have totally killed your profit. 

I suggest you look at the cheaper broker first, do some real maths and find out how much you need to earn per "trade" with your current capital to cover the brokage cost. You will certainly find it "impossible". 

My advice for you is to spend that $1000 on real education by reading popular trading books, authored by Dr Van Thorp as one example, and if you want to try now, open up a demo account and try for yourself first. 

It's good that you try to get away from your boring, slave job, and it's also encourging to see that you are willing to learn, but you will need far more committment than you currently am willing to give to make money consistently via day trading. 

So to summarise, spend that $1000 on education (do tons of research around forums/internet, don't take on hyped marketing ones), start a demo account immediately and get a feel of the "reality" first before committing any real, hard earned money. You got 4 kids and a family to take care of, remember that.


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## professor_frink (29 April 2007)

temjin said:
			
		

> 2.) You said you believed you are immune to a large market correction if you are day trading. That is very wrong. Market drop much faster than you would expected it. Your broker will most likely be unable to fill your "stop loss" order if such rapid correction occur in a matter of few minutes or even seconds. Never assume such things at all.




Sorry temjin, but why are daytraders not immune from a large correction? Wouldn't it be just another day?

I don't get it


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## Temjin (29 April 2007)

That depends on how "long" does this "correction" occur. As I said, prices drop much quicker than it rise. Stop Losses are never guaranteed during extreme price movements and this is especially true for the stock market where its liquidity isn't as good as the currencies market.

Of course, I do believe day traders will able to resist such large corrections better than long term investors because their in position risks are almost always lower. (P.s: with exceptions depending on how much initial risks one takes on their positions) But to believe your day trading strategies to be "completely immune" from price shocks (i.e. large correction) is simply ignorant for not preparing for the worst.


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## nizar (29 April 2007)

Converted.

I recommend you to learn through reading books. As Temjin mentioned, Van Tharp is good, Stan Weinstein also good.

And in this time, you could try to save a bit more. Probably 5k is enough to get started, personally i started with 7k.

And daytrading is VERY hard, the reason i say this is because it was not long ago when i had the same approach, never hold overnight, etc, but whats hard about it, is that MOST moves take more than 1 day to play out.

Even buying at the close and selling the next open i would say is a better strategy than buying and selling intraday.

Try firstly exploring longer term strategies, its much easier that way i have found. IMO.


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## professor_frink (29 April 2007)

Temjin said:


> That depends on how "long" does this "correction" occur. As I said, prices drop much quicker than it rise. Stop Losses are never guaranteed during extreme price movements and this is especially true for the stock market where its liquidity isn't as good as the currencies market.
> 
> Of course, I do believe day traders will able to resist such large corrections better than long term investors because their in position risks are almost always lower. (P.s: with exceptions depending on how much initial risks one takes on their positions) But to believe your day trading strategies to be "completely immune" from price shocks (i.e. large correction) is simply ignorant for not preparing for the worst.




Personally, I don't think it really matters how long a correction lasts for. The volatility we had recently in markets worldwide was a daytrading dream.

Having said that, I think alot depends on the market you trade. The long only, small cap daytrader is obviously going to have alot more problems making money during a correction or bear market, compared with an index or forex trader.



nizar said:


> Converted.
> 
> I recommend you to learn through reading books. As Temjin mentioned, Van Tharp is good, Stan Weinstein also good.
> 
> ...




Converted, I agree with Nizar completely- start trading longer term first when you have built up a little more capital. Once you've figured out strategies that you are comfortable with, then you can start looking at opportunities in a shorter timeframe.


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## converted (30 April 2007)

Yep realise its gonna be hard yakka but even harder yakka is having a gun to your head from your boss. This way I can build my education with small upfronts and its something Im prepared to lose at this stage too. 

100k or 500k I would LOVE to have that lying around but to tell you the truth if I had that I wouldnt be on this forum, I wil have paid for my house, paid for a factory unit and would be builing budget race cars for Joe Blow (500k would easilt do that).

I would also be looking at doing longer term trading as well but that would be something I would educate myself with longer term

So after the dust has all settled on this thread, all I need is someone on this forum who does it or is close who can divulge their info publically...thats all. And some people seem to be actually doing that as well....and for that person to say I want others to join me in not being nailed to a job all my life. The thing is I dont want to be rich, I want to be wealthy and being wealthy to me is pursuing my hobbies and helping counsel people in their marriages when and where I can and being able to take the kids out on the boat and to the snow. Unfortunatley these things dont make money. I just need the flexibility which I have in my job) and not to have a gun at my head...


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## tech/a (30 April 2007)

converted said:


> Yep realise its gonna be hard yakka but even harder yakka is having a gun to your head from your boss.




Why do you feel you have a Gun to your head? Are you not seen as a valued employee worth keeping?



> This way I can build my education with small upfronts and its something Im prepared to lose at this stage too.




If your prepared to lose it then no doubt you will. 



> 100k or 500k I would LOVE to have that lying around but to tell you the truth if I had that I wouldnt be on this forum, I wil have paid for my house, paid for a factory unit and would be builing budget race cars for Joe Blow (500k would easilt do that).




The issue is getting a capital account or equity in the first place---is it not?



> I would also be looking at doing longer term trading as well but that would be something I would educate myself with longer term




Your looking to become a Brain Surgeon and then learning First Aid.----Thats your approach.



> So after the dust has all settled on this thread, all I need is someone on this forum who does it or is close who can divulge their info publically...thats all. And some people seem to be actually doing that as well....and for that person to say I want others to join me in not being nailed to a job all my life.




Great---can someone do all the work for me!! 
Well hows $200 a day proven for the last 4 yrs 8 mths fully disclosed?

http://lightning.he.net/cgi-bin/suid/~reefcap/ultimatebb.cgi?ubb=forum;f=74

It will take some effort on your part though---I doubt your prepared for that.



> The thing is I dont want to be rich, I want to be wealthy and being wealthy to me is pursuing my hobbies and helping counsel people in their marriages when and where I can and being able to take the kids out on the boat and to the snow. Unfortunatley these things dont make money. I just need the flexibility which I have in my job) and not to have a gun at my head...




Well you wont be rich.
You will be wealthy---as wealthy as *YOU* believe you should be.


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## retroaugogo (30 April 2007)

converted said:


> So after the dust has all settled on this thread, all I need is someone on this forum who does it or is close who can divulge their info publically...thats all.




All the pieces you need are out there.

Just a matter of finding them all and putting the whole picture together.
Always more rewarding to find them yourself.

Good fortune with your treasure hunt.


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## Out Too Soon (30 April 2007)

Hi Techh/a, I hope Joe gets a commision for the free plugs Nicks site gets here. Yet another "pay me & I'll show you how I did it, I don't really need the money cause I'm so successful but pay me anyway" site. :


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## professor_frink (30 April 2007)

Out Too Soon said:


> Hi Techh/a, I hope Joe gets a commision for the free plugs Nicks site gets here. Yet another "pay me & I'll show you how I did it, I don't really need the money cause I'm so successful but pay me anyway" site. :




What an absolute rubbish post.


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## tech/a (30 April 2007)

Out Too Soon said:


> Hi Techh/a, I hope Joe gets a commision for the free plugs Nicks site gets here. Yet another "pay me & I'll show you how I did it, I don't really need the money cause I'm so successful but pay me anyway" site. :




Love it!!

There it is all free to anyone who sees value in Techtrader,no charge,and *STILL* its not good enough.

Got nothing to do with Radge.
Nicks just seen it as worthy of a place to camp so others can access it.
I nor he makes a zack out of the method (Other than my trading of it).


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## Tech_king (30 April 2007)

It would be best if you were to learn on what you were trading, then to paper trade and see how you go. Once you have mastered it on paper go live then.

If your goal is $100 per day, or an average of that work towards it, but learn what you can before putting your money in. You will be giving it away otherwise!


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## Out Too Soon (30 April 2007)

tech/a said:


> Love it!!
> 
> There it is all free to anyone who sees value in Techtrader,no charge,and *STILL* its not good enough.
> 
> ...




Sorry if I jumped to the wrong conclusion, but it looks like a zillion other sites on the web that make promises of varying believabilty, get your details then bombard you with spam hoping in a moment of weakness you'll send them your cash. Really, I'm very cynical about such crud- "Log in to Capital Coaching- register now!"    Yeah right!!!!!!


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## Julia (30 April 2007)

Out Too Soon said:


> Sorry if I jumped to the wrong conclusion, but it looks like a zillion other sites on the web that make promises of varying believabilty, get your details then bombard you with spam hoping in a moment of weakness you'll send them your cash. Really, I'm very cynical about such crud- "Log in to Capital Coaching- register now!"    Yeah right!!!!!!




How would it be if - instead of jumping to cynical conclusions - you actually had a look at the information and then made an informed conclusion?


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## nomore4s (30 April 2007)

Out Too Soon said:


> Sorry if I jumped to the wrong conclusion, but it looks like a zillion other sites on the web that make promises of varying believabilty, get your details then bombard you with spam hoping in a moment of weakness you'll send them your cash. Really, I'm very cynical about such crud- "Log in to Capital Coaching- register now!"    Yeah right!!!!!!




OTS, I find the reefcap forums very informative and it hasn't cost me a cent. I am also currently reading Nick Radges book (brought from the ASF bookshop ) and imo it is well worth the read, he obviously has a wealth of knowledge about Aussie shares. As far as I'm concerned the more info I can get from any source is an advantage to me, if I don't agree with it I don't use it. But it's all about improving my trading/investing and making a profit, the more knowledge I have the better. There are a lot of people out there that are a lot smarter than me and I'd be silly not to take advantage of their knowledge and skills.


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## Out Too Soon (30 April 2007)

OK! I'll put my cynicism aside (temp) & look further, the shortcut that was posted leads to a Login or register page, Reefcap.com CAPITAL COACHING & I immediately thought, "havent I been here before", deja vu! Beleive me I've spent/ wasted a lot of time looking at similar sites, hence my skepticism & large list of blocked spam mail sites.


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## converted (3 May 2007)

Thanks all for your input. Whether youre day trading or trading long term it all looks too complex, and youre right maybe i really dont want to do this....
I have got way too much on in my life to have the time to learn a whole new skilset anyway and i guess if it was simple everyone would do it.


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## clowboy (3 May 2007)

Converted,

you can still always just invest the money.

Every $1000 could go a very long way come retirement.

Passive income is what you seek, not the road to riches


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## Temjin (3 May 2007)

converted said:


> Thanks all for your input. Whether youre day trading or trading long term it all looks too complex, and youre right maybe i really dont want to do this....
> I have got way too much on in my life to have the time to learn a whole new skilset anyway and i guess if it was simple everyone would do it.




However, don't let all this put you off. 

You should still take responsible for your finanical future. At the very minimum, make your money (saving) work for you as hard as possible. Obviously, successful day trading with consistent profit will make the money worked the hardest, but the steep learning curve and the stress involved may not be right for you. 

Instead, consider investing in managed funds and learn margin lending, or perhaps properties depending on your personal preference. 

Long term trading is just a step above investing in managed funds/shares where you have a real entry and exit plan if things goes wrong, along with basic risk management. Most people would simply just invest and hold and ride the waves. 

It's a fact that trading long term via an extremely simply system (such as a long period MA system) would still give you a higher return than just holding them for the same period. 

Take it step by step. Jumping straight into day trading is almost like trying to run when you can't even stand up. 

Good luck anyway.


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