newbies into day trading, page-16

Buffwarren;

I completely agree with togakure and others. If you start day trading, ofcourse you see big earning in 20-50% or even more but you loss in same percentage too and may end up in dept and misery. I may take you away from enjoying your life with friends, family, work & GF. Complete disaster, trust me :)

Please keep your skill upto date and look for work. Build your career and make investement/trading your hobby not your full time work.

I work full time and strated to invest for long term. Lost a lot WITHOUT stop loss due to greece, GFC etc. Keep investing for medium-long term. Lost again WITH stop loss and after a while SP went up and so just cursed my self getting out with stop loss. Then short-medium term. Lost again with & without stop loss and won in few only.

I agree with everyone decipline is very important in investment/trading but what i learnt the most & i believe mort importanly you earn and lose based on efforts you put to understand company you are trading/investing for and effort you put for more research & analysis.

Saying that; i changed my strategy now. I invest for long, medium, short and day trade too. But most stock i buy i keep them even they go down, once they touch to bottom, i buy more to bring my average down almost at the lowest resistance of the SP. This wouldn't have been possible without savings from full time job and ofcourse without profits from few short term/day trade stocks. If i make profit; i move partial profit to buy shares of existing holding to bring down average and move rest to another high risk/high profit stock.

As my salary covers my living expenses, I take trading/investment as my hobby and honestly i lost a lot in past and was in big debt but recently my gains out numbers my loss. Gain after lot of pain.

conclusion: Get a job/keep the job, invest money+time not just the money, Research+Analyse +Believe in your strategy, Keep the notes of lesson learnt either positive/negative and update your strategy based on that.

Sorry if the post if too long and for any spell mistake.

We just dont want you to get burnt the way we been through. So please be safe, start slow, small and learn more.