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Author Topic: Trading for a living?  (Read 5561 times)

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April 03, 2012, 08:33:36 PM
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Robert Paulson


Is trading for a living a realistic goal? Maybe not quite for a living, but is it realistic to think that with practice and enough time spent in the market, it'd be possible to consistently trade to make enough money to support myself in college? I'm not talking about paying for college or anything like that, just food, rent, fun and whatnot. I'm very new to the stock game, so I kind of want to see how involved I can get with it if I choose to do so.

So basically, what has your experience been or do you know people who successfully trade and make a decent living doing so?

April 03, 2012, 08:46:19 PM
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cbenitez


Day trading is probably going to be the way to go here Rob. It will, however, take up a lot of your time as you will have to enter and exit positions all within the same day. I had a friend who was a day trader up until the financial collapse of 2008. Also, for most brokerage firms such as ETrade you'll need a $25,000 marginal account to start day trading, not sure if you have these funds but as a college student, I can't imagine you do since you want to make money to support your daily living. Other than that, you'll have to rely on some big plays if you're not actively day trading. PaulPaulPaulPaul (Paul4x) who is a member of this forum is also a college student, I believe so he will be a very good resource for you. Good Luck to you.

April 03, 2012, 08:52:52 PM
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PaulPaulPaulPaul


Thanks CB that was nice of you to say!  I am indeed also a college student, but, I think the lessons learned from this forum will be used much more than my current classes will be ;)

Also, I do not know as much as many other members on these forums (especially the Doc and Vegas), but, if I think I can help you I will!

Edit -
I also think you should consider becoming a gold member.  The boards are much more active. Most importantly though, you can see why trade alerts are issued (in real time), and study the indicators which gave the buy signal.  I think that alone is worth much more than the cost of $40/mo. 

April 03, 2012, 09:33:55 PM
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cbenitez


Thanks CB that was nice of you to say!  I am indeed also a college student, but, I think the lessons learned from this forum will be used much more than my current classes will be ;)

Also, I do not know as much as many other members on these forums (especially the Doc and Vegas), but, if I think I can help you I will!

Edit -
I also think you should consider becoming a gold member.  The boards are much more active. Most importantly though, you can see why trade alerts are issued (in real time), and study the indicators which gave the buy signal.  I think that alone is worth much more than the cost of $40/mo. 


No problem Paul. I agree that that becoming a Gold Member is beneficial, even if only for learning. And, point of clarification, it's only $35/month (just saying...lol) ;D ;D

April 03, 2012, 09:52:44 PM
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PaulPaulPaulPaul


Quote
No problem Paul. I agree that that becoming a Gold Member is beneficial, even if only for learning. And, point of clarification, it's only $35/month (just saying...lol) ;D ;D

LOL even better then!

April 03, 2012, 10:21:24 PM
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Robert Paulson


Thanks CB that was nice of you to say!  I am indeed also a college student, but, I think the lessons learned from this forum will be used much more than my current classes will be ;)

Also, I do not know as much as many other members on these forums (especially the Doc and Vegas), but, if I think I can help you I will!

Edit -
I also think you should consider becoming a gold member.  The boards are much more active. Most importantly though, you can see why trade alerts are issued (in real time), and study the indicators which gave the buy signal.  I think that alone is worth much more than the cost of $40/mo. 


Haha. That's literally my first plan with my money once I get it out of ATRN. So. Hopefully I can sell it for a profit and re-invest it in this site.

April 03, 2012, 11:42:44 PM
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Forward


Is trading for a living a realistic goal? Maybe not quite for a living, but is it realistic to think that with practice and enough time spent in the market, it'd be possible to consistently trade to make enough money to support myself in college? I'm not talking about paying for college or anything like that, just food, rent, fun and whatnot. I'm very new to the stock game, so I kind of want to see how involved I can get with it if I choose to do so.

So basically, what has your experience been or do you know people who successfully trade and make a decent living doing so?

Robert,
I am a small business owner and that is my ultimate goal one day that I can just work out of the house and be done with worrying of sales, overhead, employees etc. I was inspired when I met a client who day trades and had a few good plays that paid off his house, cars, and wife's student loans.

I would agree with much that has already been said. With that in mind if you get a few big plays it could be life changing and having the first hand knowledge as a gold member would be very beneficial to you. I think that by being mindful of the risks and learning from many people on this forum will give you a start and as you learn the buy and sell signals with TA you would know when the time comes to take that leap of faith as a trader. I think I could be there within a few yrs myself.

Best of luck to you!

April 04, 2012, 04:24:08 PM
Reply #7
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Dr PennyStock

Administrator
Is trading for a living a realistic goal? Maybe not quite for a living, but is it realistic to think that with practice and enough time spent in the market, it'd be possible to consistently trade to make enough money to support myself in college? I'm not talking about paying for college or anything like that, just food, rent, fun and whatnot. I'm very new to the stock game, so I kind of want to see how involved I can get with it if I choose to do so.

So basically, what has your experience been or do you know people who successfully trade and make a decent living doing so?

I trade for a living since many years, so it is realistic, but, if you don't have knowledge basis to do it, you can forget it, it is easy, but, takes time and experience to learn.

So you begin now with help of someone, or you begin learning now, and, in about two - three years, you are ready to make money.
Dr PennyStock

April 05, 2012, 02:25:42 AM
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cyburfer


A stockbroker says to his colleague, "I don't think this line of work is for you. You just keep losing money all the time."
"You're right," he replied. "My whole life all I've done is lose money".
Next day he comes to work and resigns.
His coworker asks, "What are you going to do for living?"
"I finally figured out how I can make some money from losing money all the time."
"How?"
"I am going to build a web page and take it public."      :-\    Cy...

April 07, 2012, 01:31:05 PM
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Robert Paulson


Is trading for a living a realistic goal? Maybe not quite for a living, but is it realistic to think that with practice and enough time spent in the market, it'd be possible to consistently trade to make enough money to support myself in college? I'm not talking about paying for college or anything like that, just food, rent, fun and whatnot. I'm very new to the stock game, so I kind of want to see how involved I can get with it if I choose to do so.

So basically, what has your experience been or do you know people who successfully trade and make a decent living doing so?

I trade for a living since many years, so it is realistic, but, if you don't have knowledge basis to do it, you can forget it, it is easy, but, takes time and experience to learn.

So you begin now with help of someone, or you begin learning now, and, in about two - three years, you are ready to make money.

Thanks for all the info, guys. In addition to a gold membership here, are there any additional websites, books, etc that you would recommend for educating myself about the stock market?

April 07, 2012, 02:01:12 PM
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PaulPaulPaulPaul


http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis

The site above is one of the top resources.  I recommend reading the "Basics" and "Candlesticks" section. 

April 15, 2012, 11:43:00 PM
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MoneyForBabyz