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

tidy up service Glenview ..

In The News:

Essential phone settings to enable before losing your device, including Find My network, location services and security features for iPhone and Android.

The Fox News AI Newsletter gives readers the latest AI technology advancements, covering the challenges and opportunities AI presents.

Cybersecurity research shows weak passwords remain a major threat, with simple patterns and number sequences putting millions of accounts at risk.

New Android malware BankBot YNRK silences phones, steals banking data and drains crypto wallets automatically. Learn how this advanced threat works.

FDA approves first human trial for Paradromics' brain-computer interface that could restore speech for paralyzed patients through neural technology.

New phishing platform QRR targets Microsoft 365 users across 1,000 domains in 90 countries. Learn how to spot fake login pages and protect your accounts.

OpenTable now uses AI to track your dining habits and share insights with restaurants. Learn what data they collect and how to protect your privacy.

Google's discontinued Nest thermostats still secretly upload home data to company servers despite losing smart features, raising serious privacy concerns.

New Android malware NGate steals NFC payment codes in real-time, allowing criminals to withdraw cash from ATMs without your card. Learn protection tips.

DoorDash confirms data breach exposing customer names, emails, addresses after social engineering attack. Learn how to protect yourself from scams.

Concerned about Google's AI scanning your Gmail? Learn how to disable Gemini features that access your emails, Drive files and Chat messages for privacy.

Google warns Android users about dangerous fake VPN apps hiding malware that steals passwords, banking details and personal data from phones and tablets.

Apple's digital passport feature lets iPhone users breeze through TSA checkpoints this holiday season using Digital ID technology at 250+ airports.

A new phishing scam targets family photos with fake "Cloud Storage Full" alerts. Criminals steal credit card information through fake sites. Learn protection tips.

South Korean scientists create ultra-thin fabric muscles that turn clothes into robotic assistants, lifting 33 pounds while weighing under half an ounce.

Archer Aviation has acquired Hawthorne Airport for $126M to launch an LA air taxi network ahead of the 2028 Olympics, featuring AI-powered eVTOL operations and next-gen aviation tech.

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

Fake AI apps disguised as "ChatGPT" and "DALL·E" are flooding app stores with dangerous malware that steals data and monitors users without detection.

Fake buyers demand specific vehicle reports from unknown sites to steal credit card information from car sellers, but warning signs can help identify these scams before paying.

Android users can now manage apps across multiple devices more easily with Google Play Store's updated remote uninstall button in the latest update.

NASA's Perseverance rover discovers shiny metallic rock on Mars that could be a meteorite from an ancient asteroid, containing high levels of iron and nickel.

Holiday scams spike during Black Friday and Cyber Monday as criminals exploit your leaked personal data. Learn how to protect yourself from fake stores and phishing.

Commerce Department proposes TP-Link router ban over Chinese security risks. Learn how this potential prohibition could affect your home network and devices.

Hyundai AutoEver America suffered a data breach affecting 2,000 current and former employees, exposing names, Social Security numbers and driver's license information.

Washington court rules automated license plate reader images are public records, even when stored by vendors like Flock Safety, setting precedent for transparency.

Trading For A Living

Stocks & Mutual Fund