trading for living
- Thread starter carrot
- Start date
Tictac
Banned
On the 'sell-side' of Wall Street firms alone there are somewhere between 1,000 and 3,000 analysts working trade ideas for firms with huge capital pools.
Do you really think you can compete with that from your home computer?
Do you really think you can compete with that from your home computer?
Bible_Belt
Master Don Juan
Do you really think you can compete with that from your home computer?
lol. Analysts are a joke. Their job is to pitch whatever sh!tty stock the firm is holding. If you're listening to analysts, you shouldn't be trying to pick stocks in the first place. Put your money in index funds; it'll save you from yourself.
When you compete at trading, you compete with the traders that work for those firms, not the analysts. Usually they are the ones amassing a position before the analysts pitch the stock. They tend to be Ivy Leaguers, some of the best and brightest that East Coast old money has to offer. I worked for a much smaller Wall Street firm; they were some cocaine cowboys who would hire nobodies like me, as long as we made them money.
The weakness of big firms is their size. When an order comes in to buy a few million shares of a stock, what they do is try to hide their buying, lest it drive up the price of the stock. Smaller traders who are good will see the buying and jump on for the ride, like a small boat being pulled along by the current of a huge passing ship.
Unfortunately, computer programmers became a lot more efficient at detecting intraday movement and capitalizing on it, and that's what killed the human occupation of day trading. Stocks don't move intraday like they used to; computer trading kills the momentum of human emotion that we used to see fifteen or so years ago.
The better money now is in swing trading. A small account can earn a much larger percentage return than a billion dollar hedge fund, simply because of its size. Exchange-listed stocks priced $2-10 offer an exceptional return on investment, because you only have to buy a thousand or so shares to make a good return. A hedge fund would have to buy so much stock that it would drive up the price.
If you want a decent system to start with, look for stocks hitting 52-week highs on good volume, especially if they were priced much higher 2-3 years ago. That's just the starting point. You also have to look at overall market movement, sector movement, and then try to time your entry point so that you get in at a good price. It's complicated, but not impossible.
Here's a good web site about swing trading: http://www.hardrightedge.com/ I never traded his picks or his system, mostly because my company did not let us hold overnight, but I talked to Alan a lot back when I was trading. Stock market gurus tend to be scum bags, but he is the real deal as a trader.
lol. Analysts are a joke. Their job is to pitch whatever sh!tty stock the firm is holding. If you're listening to analysts, you shouldn't be trying to pick stocks in the first place. Put your money in index funds; it'll save you from yourself.
When you compete at trading, you compete with the traders that work for those firms, not the analysts. Usually they are the ones amassing a position before the analysts pitch the stock. They tend to be Ivy Leaguers, some of the best and brightest that East Coast old money has to offer. I worked for a much smaller Wall Street firm; they were some cocaine cowboys who would hire nobodies like me, as long as we made them money.
The weakness of big firms is their size. When an order comes in to buy a few million shares of a stock, what they do is try to hide their buying, lest it drive up the price of the stock. Smaller traders who are good will see the buying and jump on for the ride, like a small boat being pulled along by the current of a huge passing ship.
Unfortunately, computer programmers became a lot more efficient at detecting intraday movement and capitalizing on it, and that's what killed the human occupation of day trading. Stocks don't move intraday like they used to; computer trading kills the momentum of human emotion that we used to see fifteen or so years ago.
The better money now is in swing trading. A small account can earn a much larger percentage return than a billion dollar hedge fund, simply because of its size. Exchange-listed stocks priced $2-10 offer an exceptional return on investment, because you only have to buy a thousand or so shares to make a good return. A hedge fund would have to buy so much stock that it would drive up the price.
If you want a decent system to start with, look for stocks hitting 52-week highs on good volume, especially if they were priced much higher 2-3 years ago. That's just the starting point. You also have to look at overall market movement, sector movement, and then try to time your entry point so that you get in at a good price. It's complicated, but not impossible.
Here's a good web site about swing trading: http://www.hardrightedge.com/ I never traded his picks or his system, mostly because my company did not let us hold overnight, but I talked to Alan a lot back when I was trading. Stock market gurus tend to be scum bags, but he is the real deal as a trader.
analysts are fvcking useless junk. you spend enough time learning about stock markets, pick your own approach and TRADE ONLY YOUR FVCKING opinion, you learn only from your mistakes. analysts, advices are just useless noise, nobody can successfully and systematically trade based on someone's opinion.
i traded last few years pretty much for living and paid for my school.. taking it easy now, trying to get some social life as i got some health issues.. trading for living is exhausting, it's was a nightmare, those fvcking nights where i would wake up every fvcking hour.
Once again, DO NOT EVER FVCKING TRADE SOMEONE ELSE OPINION, DO NOT PAY THOSE USELESS STOCK PICKING FVCKS, LEARN EVERYTHING BY YOURSELF.
i learnt some from those dudes, but lost a sh1tload of money trading their opinions.
i traded last few years pretty much for living and paid for my school.. taking it easy now, trying to get some social life as i got some health issues.. trading for living is exhausting, it's was a nightmare, those fvcking nights where i would wake up every fvcking hour.
Once again, DO NOT EVER FVCKING TRADE SOMEONE ELSE OPINION, DO NOT PAY THOSE USELESS STOCK PICKING FVCKS, LEARN EVERYTHING BY YOURSELF.
i learnt some from those dudes, but lost a sh1tload of money trading their opinions.
Any crude oil futures trader?
Hi guys,
I would like to ask for advice if anybody can help.
I will be writing my thesis for my Masters degree in oil and gas on topic Day trading crude oil futures.I wanted to do research on how (news, daily information, changes in industry) impact on the spot price and how traders make decisions based on those information (making profits). I wanted to use Platts domain for the news feeds, however it "only" costs $25,000/pa. So it is no go.
Is here are trader who can give me heads up how to go about this? Im not looking for spoon feeding, just looking for some hints how you guys go about it, so i can start the research.
Thanks
Hi guys,
I would like to ask for advice if anybody can help.
I will be writing my thesis for my Masters degree in oil and gas on topic Day trading crude oil futures.I wanted to do research on how (news, daily information, changes in industry) impact on the spot price and how traders make decisions based on those information (making profits). I wanted to use Platts domain for the news feeds, however it "only" costs $25,000/pa. So it is no go.
Is here are trader who can give me heads up how to go about this? Im not looking for spoon feeding, just looking for some hints how you guys go about it, so i can start the research.
Thanks