You sound like you know what you are doing Mastermind5.
lol...we seem to be at each end of the spectrum when it comes to buying shares.
I too have some exposure to "blue chips" like you, but do it through my supperannuation where I enjoy the 4% annual returns I have received in recent times....lol
Most of my income, about 95%, now comes from day trading the small to medium caps. As you suggest, it can be heart-in-your-mouth stuff at times and you can make big losses when things go all pear-shaped...so as you also suggest, it is best to only trade with "play" money.
The hard part is getting onto a good riser early enough that you can ride out any retraces without getting "stopped" out.
Sometimes you win, sometimes you lose...as long as the losses are less than the wins, then I'm happy!
The truth is, I didn't always make money out of trading, in fact, in the early years, I mostly lost money. Fortunately however, I had my own business with good cash flows, so I could afford to keep trying! Eventually I was able to learn from my mistakes and on my fourth year of trading was able to get back nearly everything I lost in the previous 3.
The rest as they say is history!
I think day trading suits me as I seem to thrive on stress...also, I guess the fact that I am relatively young (39), means I can afford to take a loss or two at this stage of my life!
By the way, I have detected a distinctive change in market behaviour over the last 2 months. It might be an early call, but things may have actually turned for real this time! I hope so, as I have just wound up my business, sold my house and now I'm in the process of moving into our holiday house to enjoy life a little more!
...and of course, trade my RRR's off!
Happy trading to you Mastermind5.
Cheers!
SLT Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
