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When I started college gold was $32 per ounce. Unfortunately that would also pay for a month of college-student groceries. Just an interesting tidbit about how the price of gold has risen based as much on emotion as anything.
Very nicely reasoned. It is quite important to note that day trading is buying individual stocks or positions in the market and changing them by cashing out at highs and lows (short selling). There can be a lot of money to be made in it. In fact many people this is their only source of income. It is stressful and volatile. It is not for the faint of heart nor is it for me. As it is today my wife is my anchor and would find that sort of activity in our life too much and would not allow it. Although I guess I could start off small and work up but I think I would prefer to invest in a boat to while away the time fishing and boating to the stress of buying up the next Enron.
Bada Bing! Day trading in retirement is it every day or can you sell at will and take a couple of weeks off? Hopefully MJ or someone can answer.
i couldn't possibly do it every day all the time . i only do it like now when things have been rising and falling on some issues 2- 3 % or more in a day .
if gold falls below 1050 i would buy it and sell it on the first day i can make 200-400 bucks . kmi in the low 15's i would buy it again .
but if it just keeps going up then i am done with it . then it is to unpredictable .
these new lows with gold and oil have been pretty predictable so far but that could change . since august i had one little loss in gld when i got stopped out and everything else winners so far .
i had about 40 trades for this year .. . the funny thing is all those stocks are no higher today . all the money was made on just letting them get pounded , buying and selling next up day and repeating .
THEIR history has been 2 steps back and one step forward because of weakness in gold and oil . i may go back to TLT if it gets beaten up some more.
Last edited by mathjak107; 12-24-2015 at 07:31 AM..
Bada Bing! Day trading in retirement is it every day or can you sell at will and take a couple of weeks off? Hopefully MJ or someone can answer.
You can trade as often as you like. You can stay in a position for as short a time as you like. In an extremely volatile market you can make money by entering and exiting trades in a day.
Stressful? You bet.
If you want to learn, watch the Tiger TV at tfnn.com
For at least one month don't do any trades, just watch.
I've done it and I've learned a lot, made a lot and lost a bit too.
Trading is a game of probabilities. The only thing you can control is how much you can lose. If you are trading, always use stops.
You can trade as often as you like. You can stay in a position for as short a time as you like. In an extremely volatile market you can make money by entering and exiting trades in a day.
Stressful? You bet.
If you want to learn, watch the Tiger TV at tfnn.com
For at least one month don't do any trades, just watch.
I've done it and I've learned a lot, made a lot and lost a bit too.
Trading is a game of probabilities. The only thing you can control is how much you can lose. If you are trading, always use stops.
I was thinking about a person like MathJak who has an active retirement life with daily and week or longer trips and photo trips etc. can you just shut down at will
I was thinking about a person like MathJak who has an active retirement life with daily and week or longer trips and photo trips etc. can you just shut down at will
I would say that if you have money in the market you would not want to leave it there in any position because of its volatility. I am not talking about funds. I am talking about day trading which generally involves a single stock or commodity. If you do you could loose that entire investment just taking a vacation.
Quote:
Originally Posted by Vision67
You can trade as often as you like. You can stay in a position for as short a time as you like. In an extremely volatile market you can make money by entering and exiting trades in a day.
Stressful? You bet.
If you want to learn, watch the Tiger TV at tfnn.com
For at least one month don't do any trades, just watch.
I've done it and I've learned a lot, made a lot and lost a bit too.
Trading is a game of probabilities. The only thing you can control is how much you can lose. If you are trading, always use stops.
yup that is true.
all everyone needs to understand is that in retirement it should not be used to excess. It is like going to Vegas and putting 100 on red. Now I don't readily understand roulette but I do know that money put on there needs to be money not intended to live on.
I would regularly day trade during the dot-com boom. It was exhilarating, on my best day I made $104K and on my worst I lost $106K. A mere $2 or $3K return a day was considered dull. During the collapse I lost about one million of my gains.
my step brother was a pro day trader on wall street . he only had to trade 2 stocks daily . amgen and trident energy .
when the stocks no longer matched matched the trends in the proprietary software the losses mounted and he got out ..
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