Trading For A Living

How many times have you said to yourself, "I'd like to quit this job and just make a living trading in the stock market"? Well, maybe you can, BUT...

There a few things to consider.

First, you have to have enough money to generate the income you need for your daily expenses and that amount is going to vary considerably depending upon the trading system. Shorter term methods will require less starting capital than longer term trend following or momentum systems. I am not an advocate of day trading. It takes a certain type of a very disciplined personality. Even though I was an exchange member I did not stand in the pit and makes scores of trades each day. The long term worked for me.

How much income do you need? $50,000, $100,000, more? Based on your starting capital what kind of profits can you expect?

Once you have decided on any system you must get to know it and should paper trade it for 6 months before putting real money on the line. Assuming you have a successful method you then must have the discipline to follow its rules even when you think they are wrong. You must take every trade. There are hundreds of systems and the magazine Futures Truth follows about 300 and prints their returns every 2 months.

The easiest method is a momentum system with stop-losses built in to reduce your draw down during a bad trade. Even the best system only wins 50% of the time or less. The closer (more frequent trades) you get to the market the more random it seems. That is called noise and it can drown you out.

You won't need expensive overhead as you can work from home, but you will need a high speed computer, maybe more than one, with good software. In some places brokerage companies will provide a workstation for active traders.

The most important thing about trading is having a good exit strategy. Staying with a losing position will break you every time. You must keep losses to a minimum.

The size of the position you take is another factor. If you decide never to risk more than one or 2% of your total assets on any trade that will determine the number of shares you can buy. If you have $100,000 and limit your risk to 2% ($2,000) using a 10% stop loss then you can buy 10,000 shares of a $2.00 stock or 200 shares of a $10 stock as your 10% loss will come to $2,000 (2%) in each trade.

There are many other considerations to trading for a living and one of the most important is your emotional stability. How will you handle those losses? Can you stand 5 or 6 losing trades in a row? Or more?

I know the answers to all these questions because I have been there and done that and I do not recommend you quit your job to do it.

Al Thomas' book, "If It Doesn't Go Up, Don't Buy It!" has helped thousands of people make money and keep their profits with his simple 2-step method. Read the first chapter at http://www.mutualfundmagic.com and discover why he's the man that Wall Street does not want you to know.

1-888-345-7870; http://www.mutualfundmagic.com

shuttle to Midway Beardstown .. Lockport Chicago limo O’Hare

In The News:

Kurt the CyberGuy breaks down whether it’s better to remove your personal information from the web yourself or use a data removal service.

Google’s scam detection features, powered by artificial intelligence, are a significant step forward in safeguarding Android users from fraud.

The FBI has issued a warning that scammers are impersonating doctors, police and banks using spoofed numbers as "smishing" texts surge nationwide.

Communities with unreliable internet service stand to gain after Amazon's Project Kuiper launched its first full batch of satellites into orbit April 28.

Tech expert Kurt “CyberGuy" Knutsson says unsubscribing from spam might actually backfire. Learn when to avoid it and stop junk effectively.

Tech expert Kurt “CyberGuy" Knutsson talks about how the first nonstop beating heart transplant, called zero ischemic time, at Taiwan hospital changes surgery.

Kurt “CyberGuy" Knutsson: FBI warns of "time-traveling" hackers.

Kurt “CyberGuy" Knutsson talks about a soft, vine-like robot called SPROUT that aids safe survivor rescues in collapsed buildings.

Health insurance giant Blue Shield of California confirmed it had been sharing private health data of 4.7 million users with Google for three years without even realizing it.

Delta and JetZero’s blended wing body aircraft marks a meaningful step toward a cleaner, quieter and more efficient future for air travel.

Recent reports show many common passwords can be cracked in literally seconds. Kurt the CyberGuy explains how to strengthen your passwords.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Iron, a robot that stands 5 feet, 8 inches tall and weighs 154 pounds, combines advanced artificial intelligence with human-like movement and exceptional vision.

Hertz, the rental car giant, recently confirmed that customer information was exposed through a cyberattack on one of its software vendors.

There are a number of features with AirPods you may or may not know about to take your listening experience to the next level. Kurt the CyberGuy explains.

These 35 Chrome extensions have privacy and security concerns. Tech expert Kurt “CyberGuy" Knutsson says to delete them now.

Tech expert Kurt “CyberGuy" Knutsson says 329,000 mph fusion rocket promises to be fast, disruptive and enable deep-space missions.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Tech expert Kurt “CyberGuy" Knutsson says a new autonomous AI is a game changer that also raises privacy risks. Is your data safe?

Tech expert Kurt “CyberGuy" Knutsson says robots and drones are revolutionizing fruit farming with faster picking and smarter handling.

Landmark Admin revises May 2024 cyberattack scope to show twice as many people were affected. Kurt “CyberGuy" Knutsson gives tips to help stay safe from an insurance data breach.

Tech expert Kurt “CyberGuy" Knutsson talks about how Yamaha’s hydrogen outboard motor could revolutionize boating with zero emissions.

Tech expert Kurt “CyberGuy" Knutsson reveals how to memorialize or remove a deceased loved one’s Facebook account and protect their digital legacy from misuse or scams.

Tech expert Kurt “CyberGuy" Knutsson says an Apple Watch saved psychiatrist Amanda Faulkner by detecting deadly leukemia early.

Scammers and fraudsters are increasingly targeting the most vulnerable, especially nursing homes and the personal data of their residents. Kurt the CyberGuy has safety tips.

Trading For A Living

Stocks & Mutual Fund