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I personally don't believe the OP and it seems like 99% here don't either. 2018 was a down year, it wasn't a year that everyone made "stupid good money." I'm a trader and to consistently profit 7%+ per day is so unrealistic, if not impossible, especially if it's done consistently. 10 Pinocchio noses from me and I would be willing to bet half my portfolio those claims can't be backed up with profit/loss statements or any other kind of proof. It's not hard to screenshot your P/L, black out sensitive data and post here to shut us all up and get an apology from every member here who doubted you. I think the OP forgot he is talking to mostly experienced investors and some traders. We aren't the run of the mill joe scanning google for get rich quick schemes that will believe anything said to them.
In effect, what the OP is apparently doing is treating each trade as an individual venture. Allocate $1000 to one trade, earn X%, sell. Then take the same $1000 and repeat. There is no exponentiation.
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Originally Posted by Port Pitt Ash
... last year was a bit of an anomaly. Everybody made stupid good money last year.
Everybody? In aggregate most markets went down. Simple arithmetic implies that most people LOST money.
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Originally Posted by Port Pitt Ash
The swing trades will be from the short side...
So you're saying that your "swing trades" will only involve shorting a stock? Well, that limits your potential gain (per trade) to 100%. Is that enough?
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Originally Posted by Port Pitt Ash
But hey if you want to play Vegas & gamble it all away, more power to you.
"But hey", some of us regard investment as the backing of potentially successful enterprises that build wealth, wherein our gains are a legitimate share in said wealth. But maybe that's naive, stodgy and self-limiting.
The OP reads like one of those Motley Fool articles that promises some great revelation about trading or investing but never actually reveals anything after 2,000 words. If the OP wants to be taken seriously, they need to stop being to cryptic and evasive about this "investing strategy," otherwise it just sounds like BS.
How are you getting 7-9% in a day?! Can you give a recent example of a trade?
I feel lucky to get 1.25%, then I have to wait for the money to settle (2 days) in order to use the money to trade again.
(I keep most of my money long though but trade with about $50K).
Change your brokerage firm. The multi-day settle period is legalized fraud. Maybe this was necessary in the days of paper trading, but things don't take days (or alone more than a few minutes) to settle today. Nowadays, these firms just use those extra days to make more money for themselves. I use USAA and have sold stock and bought new stock well within the same hour and with the same funds. When I utilized what was Scottrade years ago, the settlement period was one of my main annoyances and it really stacked things against "poor" traders.
every sale i make in stock shows the funds available to trade immediately with fidelity ... however you can't sell , buy and resell before the first transaction has enough money to cover the amount due
I record all my transactions with the spreadsheet I made. Have never used tax software. Some day I may get turbo tax.
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