Can you please suggest me some day-trading strategy/advice? Thanks?
I am planning to invest around 30000USD in online stock trading. I have been doing active trading for last 3-4 years or so and was taking some break due to bad times. As I have more time to do day trading I am investing this 30000$. I am hoping to earning atleast 300$ per trading day, doing day trading. I understand there will be ups and downs but I will be content to have 300$ per day profit on average. Please let me know, if I am thinking feasible and also if you have any stragtegy to suggest. Any experience sharing will be of great help. Thanks!
I have never heard of a day trader that did not go bankrupt. It is nothing more than gambling.
June 18th, 2010 at 7:36 am
I have never heard of a day trader that did not go bankrupt. It is nothing more than gambling.
References :
June 18th, 2010 at 7:43 am
there are no guarantees you will make $300 net profit or ANY profit -monthly, yearly, whatever, never mind per day – especially in the volatile market we’ve been having for the past few years
probably not even 1 of every 500 day traders makes anywhere near $300 a day
and you have to keep detailed records of every buy and sale transaction – I only do a couple a month it’s a chore to keep up with, never mind 100’s per week
you’ll need to spend almost as much time with recordkeeping every week as you do trading
– have fun with that 500 page tax return also – that will cost you a fortune in either professional prep fees of 100’s of hours of personal time
very few people make a living doing that and it’s more luck that skill – since you are doing so many trades, you can’t possibly be doing a whole lot of thoughtful detailed research on every trade
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