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Showing content with the highest reputation on 31/05/20 in Posts

  1. 2 points
    There's always 1! It is perfectly possible to make a living from trading off Daily charts, yes it helps massively with big cash reserves as the risk gets less and less to produce the same monetary amount - That's the point of doing it! I didn't have big cash reserves - and I quit being an adviser in 2010 as trading conflicted with advice I was able to give to customers and I was earning more from trading daily charts that I was as an IFA, so rather than working 12-16 hour days as a IFA, the smart decision was to quit and spend it with my family. When you start as an adviser at the age of 21, buy a house, get married and then have 2 children - there's not that much money sloshing around Swing/Position trading is TRADING - Investing is buying and holding and I would not risk my money for <10% per annum returns Your mindset is obviously only day traders can trade for a living, that isn't the case and the smart decisions are to trade what works for you - I prefer the daily charts, they free up my time to enjoy life - Square pegs into round holes and all that The stock Indexes "swing" many times per year, offering high end double-triple figure returns per YEAR - you'd have to be an absolute Muppet not to consider taking the easy route for profits and building an account - why would you be stupid to toil away on Intra-day charts stuck at the screen waiting for the next trade, when all you have to do is spend an hour an evening looking at end of day data, enjoying the rest of your day for whatever pursuits you wish Trading of ANY form - Day, Swing, Position - Is ultra hard, not all are up to the job or cut out for it, hence the exceptionally high failure rate, but they are all still TRADING I don't buy and hold (Invest) not for well over a decade Let's get 1 thing clear - I don't trade for the money, yes the money is required to live, but I don't trade to become filthy rich, Once I reach a level, I then trade and give the profits to charity or I stop trading for the rest of the year, leaving my money sat in cash earning peanuts Plonker
  2. 1 point
    Not for me - had a fantastic four figure profit banked in 5 trading days
  3. 1 point
    Hi, I seem to remember that the timing was from the beginning of each month and not from the date you started trading. sorry for the delay in replying but I only just got the notification.
  4. 1 point
    yes, the majority are always looking for major reversals and usually get it wrong while the rest just look for minor reversals as in buying the pullback (dip) to catch the trend.
  5. 0 points
    Trouble is when you sell courses or methods, you have to deal with the ignorance of stupidity of the public and especially traders desperate to succeed, but don;t have what it takes to make it - Which is exactly why I've no plans to get involved in that side - You could teach some idiots a method that makes 140% profit a year and they'd still find fault with it and say "It doesn't work"!! If you get trading right - you put all the advantage on your side, and you're exactly right, hence why I waited until I had sufficient reserves so that I didn't put the family at financial risk - common sense really No one makes money from the markets without betting on a preconceived idea of which direction it's going to move in and that is why everyone who takes a trade position is gambling - everyone