| gkmnv |
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Gold User, Member, TeleChart
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| Registered User |
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| Walker Lake, Nevada |
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| Female |
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| Wednesday, December 1, 2004 |
| Thursday, July 24, 2008 10:01:14 PM |
6
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Isn't the exchange for the stock chart you are viewing shown on the Data Bar? I can't semm to locate how to display this information. Thanks for the help. Kaye
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Happy Grandpa,
Thank You for your contribution to "trading for a living".
I am using this year to establish if I can really manage basicly the same thing, to supplement retirement with trading.
1. I have witten a business paln with account drawdown limits, stategy etc.
2. I have set up a trading diary as this will help to spot problems and enable me to "fix it"
3. I am keeping a financial balance spreadsheet to track brokerage fees, wins and losses.
The market opens at 6:30 a.m. my time which allows me two hours before I leave for work.
I am using RSI and candlesticks also but am not familiar with Trader Vic's stategy.
Continued Good Returns,
Kaye
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willimike
I'm not sure what I did, (pre-first cup of coffee "fog")but I must have pressed "quote" and your post is up 2x on my screen. However, this is not a bad thing, since your post was well thought out, included down to earth guidelines and a good baseline for those of us who want to 'trade for living' to begin a grounded plan based on a facts and what is really required to make it happen. It should be read seversal times!!! Thank you. This is a great forum...let the posts continue!!!
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willimike
I'm not sure what I did, (pre-first cup of coffee "fog")but I must have pressed "quote" and your post is up 2x on my screen. Not a bad thing since your post was well thought out, included down to earth guidelines and a good baseline for those of us who want to 'trade for living' to begin a grounded plan based on a facts and what is really required to make it happen. Thank you.
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QUOTE (willimike) There is only one way to tell if you can trade for a living and that is: is your trading making you a living? If your trading is not making you a living now I do not believe it would be a responsible indivual to quit a job to see if one's trading could make one a living.
I do not trade for a living but my job allows me to trade during the day, which has given me the opportunity to gain some valuable experience. I have found that my best results come when I BUY RIGHT. Do not take me wrong Selling right is just as important, but I believe one has a bigger window to sell in than to buy in. I have found the best time to buy is when the price has pierced a certan resistance point, whether one is using a day chart or an hourly chart or a 10 minute chart.
When I use a resistance point I know that there must be other buyers beside myself, because I alone do not have the authority to break any barrier on my own.
I have found that my best results come when I am focused on only one and at times maybe two stocks at a given time. I have found the more positions I am trying to play at the same time the more my results mirror the overall market.
I would suggest starting with at least $50,000. I would never put more than $10,000 into any one position and would seldom ( maybe 4 or 5 times a year ) have over $20,000 in play at any given time.
Treat every trade like it is life or death.
Do not guess!!
Do not get bored and take your eye off of a position.
Buy slow and sell quick.
A reasonable goal should be $10,000 to $40,000 return, depending on how much time you can afford to participate.
If your $50,000 gets below $40,000 quit !! Because there is a severe flaw in your thought process, DO NOT think the law of averages are going to start catching up with you.
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 Just downloaded Worden Studio, by modem(1.5 hours. Me & the dog took a catnap on the couch. This is nice and am looking forward to using it and all future improvements. I will be watching this thread also. I think the criteria (60K) is a great criteria but would also like to hear from people who trade for a living, qualifying with a bit less income or even trading to supplement their retirement. Thank for this service, I think it be a winner!
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