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Online Share Trading

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Full time trading- capital requirements

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Rams
Super Contributor
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Rams
Super Contributor
well, yes, you need the tools, fast connection, backups and so on especially for intraday trading...but my point is that, the market is ignorant to all of that,,,it cannot see pros and cons...it does not see good and bad trades, and harbours no grudge nor does hand down judgement...like these past few days, it did not take prestons money on WHL and give it specifically to me just because his family is stalking me...as for 51%...my system makes a profit on just 33% win because its designed to function optimally in even sideways markets ...when the market is trending, then i am winning minimum 51%... becuase i milk the trend to the very end
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orange68
Super Contributor
this is like advertising for bmw on a Mercedes chat forum...
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prancing_horse
Super Contributor
For every one like him(CPS),there are 20 that blow all their capital.
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Bentley
Frequent Contributor
you are probably right but the fact that most are still members from the time the site started indicates that the failure rate may be a lot lower. Your hatred of him has been noted so I expect you to say these kinds of things while not knowing what the real facts are. My trading has definitely been put on a totally different level since being a member.
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Bentley
Frequent Contributor
apologies if I may have confused you with someone else
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Bentley
Frequent Contributor
apologies if I may have confused you with someone else
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prancing_horse
Super Contributor
That equates to 240k a year on 100k start up capital, not impossible but highly improbable. There is no minimum just as there is no maximum, there are months that you win and months that you lose.
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Rams
Super Contributor
Dont forget, costs...dont get sucked into fancy software, fancy trading platforms, dubious trading "advise" and most of all, stay away from expensive subscription services...if you trading ALSI futures, every point counts...
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Bentley
Frequent Contributor
agreed 100% do not pay for software or systems or even advice....if you want to subscribe to a service see if they offer a free trial period. Trial should be at least a month. If it helps good and well if its rubbish nothing lost.
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Not applicable
Bingo - and even with Ram's help I still hadn't got to 1 yet -:)
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Preston
Super Contributor
@skaap, I started to R2 and with RAMS help, i am down to R1.God bless this great trader/author/psychologist who has a Phd in pricing.
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kwagga
Super Contributor
I reckon Simon is the closest to being correct. Three years of living expenses and at least R100k to start building a proper day trade portfolio. Most businesses takes at least two years to become profitable.
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Bentley
Frequent Contributor
According to Chartist based on a similar question: "If your portfolio size is 100K you should have double that liquid and unencumbered which you can lose without seriously affecting your financial future. i.e. 200K in the bank which you can and will probably lose. What is more important is that what you do with any profits you make. They must be removed from your trading account regularly and speedily. I would recommend that you do not increase your portfolio by more than 20% per month (non compound). Your initial success will be your biggest handicap. By increasing your trading capital you create the conditions for trading suicide on a grand scale. Put the profits you make out of reach. As you capital grows the idea is to be reducing your risk exposure with every trade....not the total risk but as a proportion of your capital. What you start with is immaterial ....it can be a little as 50K. Just know that you will probably lose that twice over and that your initial success is no measure of success over the long run"
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Rams
Super Contributor
I agree, let me quote the post, it much simpler and to the point: Re:Re:Full time trading- capital requirements by SimonPB on 04 Nov 18:58 yip, point is not to live off your profits but live off your savings and add profit to the savings, ideally at faster rate then you spend .. so you have income for the first year and trading capital, so the pressure is to a degree off you
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Bentley
Frequent Contributor
both saying the same thing it seems - both very valuable bits of advice and I have experienced the importance of these concepts first hand. No matter what you say or believe about Chartist - at least even in absentia he does get some good dialogue going. the forum is poorer for not having him.
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WES
Super Contributor
Yes, Rams, just another qeustion, milking the market to the very end.... I have been adjusting my stop losses, fixed stop losses, every day and I have made my stops smaller (5%) in this market, I am basically in profit on all my shares and cfd's, and just moves the "profit stops" up everyday, is that what you mean by milking, just trailing this market to see where it ends ?
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Rams
Super Contributor
yes, I work with the primary trend is up....the end will be when the price goes below the primary trend.
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orange68
Super Contributor
is this still an OST forum about OST clients to discus THEIR opinions and or trades? im so lost. i wonder if i text chartist and my ost webpage will come up...
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