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I"m curious, whats the amount you are investing, what's the profit, and what's the risk? I've always been a little bit suspicious of day trading as a way of mak
by chris11 9y ago
I"m curious, whats the amount you are investing, what's the profit, and what's the risk? I've always been a little bit suspicious of day trading as a way of making money considering the type of ads I see, the fact that I'm an unsophisticated investing unable to access the advantages professionals have (like fast trade execution and much cheaper trading costs), and that slippage means I won't be able to set a hard limit on how much I am willing to risk. How do you deal with those things?
- SirLJ 9y agoThe amounts are 6 and more digit accounts, average profit per year double digits (last year was the first with tipple digits return, manly because of one trade, probably won't repeat itself)... The miracle of compounding is that what is working for you in the long run... EDIT: I do have losing days, weeks, months and years as well, it's not a smooth sailing by any stretch of the imagination... I am not day trading, you cannot win against HFT shops, and forget about the ads for trading gurus, coaches and mentors, no one will sell you a winning trading strategy, because the more money/people are trading it, the less effective is going to be and eventually will be arbitraged away... If you trade high quality/high volume stocks, there is basically no slippage (few cents at most), so you can easily calculate the risk for your strategy using tools like Kelly criterion - half Kelly is a good start and you go from there...