Who works full-time and trades profitably?
I'm also wondering what the average age is of people trading and sharing on the trader network? I'm 46 years young.
I seem to always think I would be making more profits if I didn't have to work 8-5pm but maybe that is just an excuse for bad trading habits.
Anyone want to share how to succeed with "double" lives?
I pretty much swingtrade, have about 80% success rate. I will usually hold if it nosedives after I buy unless I cut n run for another play. I dont do pink/otc though.
Do you have any recommending reading or words of wisdom to point me in the right direction for swing trading? Many thanks.
TK is almost set up for automating the exits. If only we had the ability to place a contingent trailing stop order...........
It worked great. It was profitable until I started exploring other methods.
You didn't specify how profitable, so I'll add my response to the chain: I'm an engineer with a 45 to 55 hour work week (although more and more of that time is being spent doing business development), who has managed a 'stunning' ROI of 3% to-date for 2011. I'm in my 30's and set orders in the evening, making adjustments on my smartphone during lunch.
I'm heavily invested in private enterprise with an annual ROI of around 20 to 25%, so that would be my best 'advice': right place, right time, right opportunity.
Other than private enterprise, I focus on dividend stocks that are short-term range bound, with a long-term upward trend. I sell calls at the peaks, and sell puts in the troughs. I've learned to be patient.
RE swing trading:
This is a link to a tradeking webinar about swing trading.
Good luck! I wish I was 23 with all the wonderful tools available today. Go slow and you will do great!
P.S. Thanks to everyone for the excellent feedback.