Thank you kindly for being so generous to share your time and knowledge. I also read your other post as well.
This paragraph " Have you perchance considered short term swing trades and trend followings. One does not have to be glued to the monitor and can easily set stop losses based on a range of indicators. This would allow more time with your husband and still afford to you to have that mental stimulation."
This has really struck a chord with me. Up until recently, I have spent endless hours studying, mainly to learn as much as I could, but also as I was investing rather than trading. I wish to find a method that rather limits my time stuck at the computer.
I know nothing about short term swing trades. I will have to brush up on that. I have been casually trading for perhaps two weeks and have been very pleased But Friday and yesterday have left me holding shares which quickly fell into the red, along with all of my long term investments. The temptation to jump out, I have resisted as I think a lot of it is fear and unrest in the communist countries.
Another lovely gentleman shared his strategy with me. He is now happily retired from trading. Basically he traded Mon-Thurs. From 10am-11.30 am (problem for me is that being in WA we are three hours earlier) He was strictly a day trader, he would never hold a position overnight and did not use stop losses as he said they were too slow? He would run 4 or 5 shares a day. When they were up by 7 1/2 % he would sell. If there was any sign of weakness he would jump out immediately for a small loss. His main aim was to minimise losses. As he said without giving specific figures, over the year this would amount to considerable profits, without being stuck behind the screen all day.
I did a very quick calculation of 4 trades a day with a starting balance of $10,000 which is indeed very low. I was staggered to work out that the potential returns, minus trading fees but also not taking into account the accumulative effects of the daily profit, just to keep it simple was at year end $600,000!
Unless I have made a very silly mistake, this seems quite incredible to me.
I would love to hear your thoughts on this. I understand that you have been unwell, I am sorry to hear that and hope you are coping ok.
