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TradingWhiz (November 30, 1999 at 12:00 am)
Also, don't focus too much on "daily" profit. If you do it will be a very rocky road for you since you might have a bad week where all your trades are unsuccessful. I try and focus on 2 to 4 week periods. It's a lot less stressful.
TradingWhiz (November 30, 1999 at 12:00 am)
The secret is to cut your losers short and let your winners run! Get rid of a losing trade a.s.a.p and move on before you lose money. If your stop loss is set 10% below the purchase price then it's impossible to lose more than you make - even if you are crap at picking stocks.
TradingWhiz (November 30, 1999 at 12:00 am)
$50,000 is a great start. To be honest you don't need that much to start with. It's important to start small. You cannot make $10,000 a month before you make $1,000 a month. When I started I only had $5,000. I would suggest you designate at least $50,000 of your capital to more long term strategies and then treat the remaining $25,000 like your only child!
alex167216 (November 30, 1999 at 12:00 am)
thank you for your info you said you were making about $5000 a day trading what is the amount you are trading with to achieve that daily profit and what could is a realistic amount for me to make i currently have $50000 in my trading account |
