Anyone else into currency trading/gambling business? - Page 2

Štulic · 03-28-2011, 02:55 PM

Quote:

Originally Posted by BigSpliffSmoka

Stulic..... I spent over a year studying and practicing on becoming a day trader. My current job gives me decent time off so I thought I'd put it to use.
Every book I have read has always mentioned "(Insert trading method here) is not a form of gambling" I have like 20 books on day trading, forex trading, options trading... everything and they all mention this.
I could type forever on this... if you have only small capital to start with (under 15k-20k) then you need to start small. Penny stocks are a good place to start. In FOREX trading you need to have a lot of money or you can leverage it... but if you lose on that be prepared to pay.
The studying that goes into it every morning is very intensive. If you want more info or book recommendations PM me and I'll be glad to help you out or point you in the right direction.

Well 15-20k is out of my league, I did buy some aussie mining shares last year for 2 grand and cashed them in for 2.6 during the boom, haven't done any since.

In forex I try not to lose more then $200 a month but now I have $1200 in the trading account basically following the news and important economic events, jumping in before release on 400x leverage and hope of doubling the investment, usually couple of hundreds at a time.

Sometimes I'll just follow a trader who's doing well and copy him, doesn't always work out well tho.

tedkennedy · 03-28-2011, 07:17 PM

made a cool 50$ on the stock market today, so far since the start of the year I have made about 20% total return on my investment capital, and its compounding so i progressively make more money.

i found out the best strategy for making money on stocks (in my opinion) is to just buy 3000-5000 dollars worth of one stock that is a good company but is trading down for a while, set sell limit to a small 1%-2% gain and then just forget about it for a while. come back in a week and 3/4 of the time you made 50 bucks.sometimes i make 50 bucks for just holding a stock for less than a day, so if you can do this with any frequency it starts adding up. but if the stock goes down, assuming you didnt buy a bad company you just have to hold if for a while til it recovers, I have only sold for a small loss 1 time out of my last 20 trades. i guess to do this you do need some experience in knowing what stocks to buy, but that isnt too hard, i usually just look for big market caps that are trading down for no good reason.

i aint getting rich off it or anything but its so easy it feels like free money

_tyranT · 03-30-2011, 09:23 PM

TLGN look it up its a penny stock at 9 cents a share.

about to blow up to 50$ a share by next month. give it a try if you dare.

John F. Kerry · 03-30-2011, 09:36 PM

ted but what about the high tax rate on equity sales held for less than a year? doesnt that shit suck or do u just factor it in ? i would think with such small amounts the taxes would eat the profits... thats why when u trade stocks short term u have to factor in a loss of the extra tax percentage and make even more than that to make money

Štulic · 03-31-2011, 12:52 AM

I just found out trading CFD's is illegal in the US so my thread is actually useless for Americans.

Štulic · 04-15-2011, 04:03 AM

Funny how I just managed to make a $60,000 profit in 5 days with 10k virtual practice investment. I'm actually 34. atm out of 2.5 million etoro users and if I finish in the top 100, I get $250 real money, sweet!

Pretty sure I wouldn't be able to keep cool with my own money with those amounts and would fuck up everything...

John F. Kerry · 04-15-2011, 10:02 AM

silver has been rising in price a shitload lately.... its 40 an oz now but i think it has a legitimate chance of getting to crazy high heights...like , if gold is 1500 oz then i dont think its beyond the realm of possibility that silver could be worth a few hundred dollars an ounce soon- on the other hand, it could crash.... so ...

just imagine if u had bought silver last year at 20 oz , ud already be up 100% and based on its relative discount to gold it seems like its got a bunch of room to go...

Štulic · 04-15-2011, 09:57 PM

Why would you wait a year to make 100% profit if you can do it in 10 seconds?

John F. Kerry · 04-15-2011, 10:10 PM

? what?

Štulic · 04-15-2011, 10:21 PM

Higher leverage means a change in price of anything by a 1/100 of a cent can already give you 20% profit, half a cent up or down and your investment returns 1000% profit in a few minutes.

John F. Kerry · 04-22-2011, 09:49 PM

well silver is now at 48 dollars an ounce.

to profit take or not to profit take that is the question.

the amazing profits i could reap by selling now will only piss me off if it gets to 80 , but cmon 8o dollar silver? sounds fucking improbable. but then again....

John F. Kerry · 04-22-2011, 09:50 PM

Quote:

Originally Posted by Štulic

Higher leverage means a change in price of anything by a 1/100 of a cent can already give you 20% profit, half a cent up or down and your investment returns 1000% profit in a few minutes.

care to explain this a bit more... how do u get 1000% profit in a few minutes? but if it goes down then u loose not only your principal but u owe a shitload more, isnt that right?

Štulic · 04-22-2011, 10:46 PM

No you can only lose your investment or you can set up a stop loss limit,equally you can keep extending your take profit limit in anticipation of a continuous trend (up or down=buy or sell).
Seeing how the Aussie dollar went up almost 40% someone could have made a million with just $100 start. In theory of course.

03-28-2011, 07:17 PM	#22 (permalink)
tedkennedy now 14% blacker Join Date: Apr 2005 Posts: 3,229 Thanks: 71 Thanked 585 Times in 364 Posts	made a cool 50$ on the stock market today, so far since the start of the year I have made about 20% total return on my investment capital, and its compounding so i progressively make more money. i found out the best strategy for making money on stocks (in my opinion) is to just buy 3000-5000 dollars worth of one stock that is a good company but is trading down for a while, set sell limit to a small 1%-2% gain and then just forget about it for a while. come back in a week and 3/4 of the time you made 50 bucks.sometimes i make 50 bucks for just holding a stock for less than a day, so if you can do this with any frequency it starts adding up. but if the stock goes down, assuming you didnt buy a bad company you just have to hold if for a while til it recovers, I have only sold for a small loss 1 time out of my last 20 trades. i guess to do this you do need some experience in knowing what stocks to buy, but that isnt too hard, i usually just look for big market caps that are trading down for no good reason. i aint getting rich off it or anything but its so easy it feels like free money __________________ matthew munari Last edited by tedkennedy; 03-28-2011 at 07:23 PM.

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03-30-2011, 09:23 PM	#23 (permalink)
_tyranT Old School Join Date: Aug 2006 Location: ohio Posts: 1,571 Thanks: 12 Thanked 41 Times in 29 Posts	TLGN look it up its a penny stock at 9 cents a share. about to blow up to 50$ a share by next month. give it a try if you dare.

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