Trading stock promise us high return and high risk. Do you think trading stock can make me rich? And what the key of success?
2006-11-21 19:51:42 · 7 answers · asked by papayasmin 3 in Business & Finance ➔ Investing
If you are contemplating this as an alternative career, I would strongly urge you to read book called the Market Wizards by Jack Schwagger.
I would say only 1/99 people can successfully make it as a day trader, if not less. I honestly think day trading is one of the most stressful jobs there is.
The key to success is to start with a decent amount of capital. Talk to lots of people who are successful in it. Start day trading with a tiny % of your capital. Keep a trading diary. Work out where the trend is and trade the trend. Once you have developed a system, stick to it. Don't let your gut intuition overrides your system.
2006-11-21 20:51:09 · answer #1 · answered by valcon 2 · 0⤊ 0⤋
Yes, it can make you very rich. But are you the 10% who will get rich or one of the 90%. If you want to be rich rather than bankrupt, what kind of hard work are you going to do to make sure of it? If you are lazy, you will be one of the 90%.
Jeff
http://www.best-stock-trading-systems.com
2006-11-23 03:22:39 · answer #2 · answered by Anonymous · 0⤊ 0⤋
If you want to be a successful day trader you need to be A) able to devote all of your time and energy to it B)willing to study C)capitalized and D)realize you're going to lose most of your money before you figure out what works. If you can handle this, go for it. Very few people actually do well at it; it's a brutal game.
2006-11-22 08:38:38 · answer #3 · answered by angrysandwichguy1 3 · 0⤊ 0⤋
Don't even consider it. Or, do it and consider the time and money you lose as an investment in education. There's no easy way to get rich. Or to get anything worth having.
2006-11-22 06:39:55 · answer #4 · answered by Big R 6 · 0⤊ 0⤋
Passive investing, daytrading has never made anyone rich.
2006-11-22 04:14:09 · answer #5 · answered by floozy_niki 6 · 0⤊ 0⤋
One advertisement is indicative its possible to earn 15 million in 15 min.
2006-11-22 10:51:02 · answer #6 · answered by Michael w/tZOOMBusinesSolutions 1 · 0⤊ 0⤋
Yes, it could make you very rich but also very nervous ;)
2006-11-23 03:57:24 · answer #7 · answered by VP 3 · 0⤊ 0⤋