tag:blogger.com,1999:blog-8515247115132134144.post5918420694526157713..comments2024-02-17T12:34:01.400-08:00Comments on Illusion of Prosperity: One Rule for Rookie TradersStagflationary Markhttp://www.blogger.com/profile/04568993350246477976noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-8515247115132134144.post-13980687167011039762011-06-06T09:59:00.882-07:002011-06-06T09:59:00.882-07:00Mr Slippery,
My record so far this year is 27-17 ...Mr Slippery,<br /><br /><i>My record so far this year is 27-17 for a 7.37% return on principal.</i><br /><br />Not bad. Your trading counterpart out there somewhere was the patsy it seems.<br /><br />Based on how you worded it, I'd say you are a week/month trader rookie though (and not a day trader rookie for which this post is intended). I guess that makes me a decade trader. I won't buy any investment if I don't think I can comfortably hold it at least that long. That's not to say I always hold that long but that's my intent at the time of purchase. <br /><br />As I see it, every time I trade I'm just giving the Goldman Sachs of the world (and my broker through trading fees) an oppurtunity to capture some of my nest egg.Stagflationary Markhttps://www.blogger.com/profile/04568993350246477976noreply@blogger.comtag:blogger.com,1999:blog-8515247115132134144.post-66596675177119514472011-06-06T06:06:12.934-07:002011-06-06T06:06:12.934-07:00This is my second year trying "active trading...This is my second year trying "active trading" so I am still a rookie. My record so far this year is 27-17 for a 7.37% return on principal. That's a lot of work for a little bit of profit. I did a little better my first year with fewer trades. Diminishing returns?<br /><br />While I may not make much as a trader, I actually feel like I have less risk than in a buy and hold mutual fund because most of time it is sitting in cash. I use about 25% of my retirement funds this way. Rookies have to learn the hard way.Mr Slipperynoreply@blogger.comtag:blogger.com,1999:blog-8515247115132134144.post-56587217452666171022011-06-06T04:50:38.775-07:002011-06-06T04:50:38.775-07:00MaxedOutMama,
We once required greater fools OR i...MaxedOutMama,<br /><br />We once required greater fools OR in greater numbers. We now need both?<br /><br />I think you are right about my need to be eliminated. If everyone was as concerned as I am about the future this economy would implode (again). Day trading? Casinos? Strip malls? Restaurants? Movie theaters? I find them optional (and generally speaking, I opt out).Stagflationary Markhttps://www.blogger.com/profile/04568993350246477976noreply@blogger.comtag:blogger.com,1999:blog-8515247115132134144.post-82248132033059577952011-06-05T22:58:40.585-07:002011-06-05T22:58:40.585-07:00Mark - you are too logical. For the good of the ma...Mark - you are too logical. For the good of the markets, you must be eliminated. <br /><br />We need more greater fools....MaxedOutMamahttps://www.blogger.com/profile/08011469804162511617noreply@blogger.comtag:blogger.com,1999:blog-8515247115132134144.post-38736129835429251682011-06-05T22:36:40.956-07:002011-06-05T22:36:40.956-07:00If you're impulsive or high-strung, day tradin...<i>If you're impulsive or high-strung, day trading is not for you. But if you can think fast and stay cool, it may be worth a try. Here's what you must know to start.</i><br /><br />If I could consistently lose money by simply being impulsive and high-strung then I could actually make money. I'd simply click on sell when I wished to buy and click on buy when I wished to sell. Genius!<br /><br />Sadly, that's not how casinos work. I can lose just as much money thinking fast and staying cool at the roulette table as I can being impulsive and high-strung. The house has the advantage no matter how I bet.Stagflationary Markhttps://www.blogger.com/profile/04568993350246477976noreply@blogger.com