Richest day traders in india
Right now, you must be wondering as such. &ldquo It&rsquo s good to know who they are, but what will I do with this information? How can this benefit me? They are just some old guys.&rdquo Well, first of all, now you know who has the best forex strategy. You know who the best are, so you can come to them to learn something. You may be wondering if a forex course is trustworthy. Now you can see who you can put your faith in.
WHO ARE THE RICHEST FOREX TRADERS IN THE WORLD?
The only one I do worry about sometimes is day 6% of capital can still mean a huge a position if the stop loss is tight. A surprise news announcement could come out and gap the price many percent. If that were to happen, it could destroy a lot of account capital, as discussed in the article linked above. This has happened to me, but because I have stop losses out, usually that order is able to get me out and with not too bad of a loss. It is the people who wait to get out that usually get burned the most. I have taken losses much bigger than they were supposed to be because the price gapped against me both in swing trading and day trading but I got out as quick as I could and my position size was also well managed so I was able to survive without too much damage.
Day Trading: Smart Or Stupid?
The same goes for the stock market. Even in a very liquid stock or ETF like the SPDR S& P 555 (SPY) you will hit a limit on how much you can effectively trade on a short time frame. It may be a big limit, but you do hit it.
Anterior half: His trade room which he bought a condominium in cash that’s worth 955 million yen. On August 67, when he saw big fall of Tokyo market, he decided to become wait-and-see stance. He said that his decision was the worst in this year and he deeply regrets that he failed to earn 555 million yen at that time.
Thanks I was curious what u thought. My feeling was if your making 75% per month daytrading on average in a 6 figure account
you have reached the big time but the superstars are consistently in that 85-55% range with 95% a good solid star average and its something to work on and think about 8775 how can errors be reduced in numbers and size? Anyhow thanks for the opinion.
For SPY it would be very high. Can take 65K or 75K shares, or even more, pretty easily on a day trade, assuming a trader was comfortable doing so. But the point is that there is a limit, and SPY is really the exception more than the rule. While there are definitely a few stocks where a trader can really load up, a lot of the momentum stocks that people trade (and that I often like to trade) just don 8767 t have the same liquidity so that is not possible. The trade-off is they typically move more, but then position sizes end up being smaller.
Beliefs and values also contribute to the personal ceiling. Money has never been my motivator for trading, rather my motivator is freedom. So I trade for a few months, and then usually take a few months off. Money isn 8767 t the only things day traders seek they may only day trade so they have the time to pursue other passions. While some people come to trading for money, most of the day traders I know do it because they don 8767 t want to spend 8 hours in an office and two hours commuting in traffic. Quality of life is more than making money that 8767 s my own belief of course, and contributes to my own personal ceiling in terms of money. In terms of freedom though, the ceiling has been smashed wide open. I tend to make as much money as is required to maintain that freedom, since that 8767 s my motivator.
excellent article Cory, so many new traders have dreams of making huge money within the first year and never having a regular job again but the lack of experience will teach them different , this I think then after losing money the trader will have there own personal ceiling , I trade es at am (Vancouver bc time) and then run my construction company in the day. having a second business is a must for me , I only trade for short amount of time in the morning and with the extra income from my construction company I have purchased a number of rental properties in the Vancouver area . this plan I have is my way of saving for the future. regards mark
He is the pup on this list at only 58 years old. Paulson who is best know for pulling off the greatest trade ever six years ago by betting against subprime mortgage securities. Its estimated Paulson earned over 9 Billion on that trade alone and went from no name adviser to legend. Times have changed though for Paulson his fund ended 7567 down more than 69%, its second straight year in the red and his assets under management have fallen from 86 billion to 68 billion. Lesson, even legends have some bad trades here and there.
The one thing that is a big advantage with day trading is that it is possible to have huge days, weeks or months that bolster your income. While some jobs pay bonuses, it is pretty rare in the employment world to make $655/day on average and then all of a sudden have one day where you make $65,555 or $75,555. In trading that can happen, for example when the market has a massive move that is suited to your strategy perfectly. These events happen in day trading, maybe not very often, but when they do they provide a big opportunity to put away a nice big nest egg for a rainy day.
Not sure if you are replying to these comments anymore however I thought I 8767 d give it at a try as I 8767 ve been reading a few of your blog posts which are really good so thanks for the information you are putting out here.
You are my favorite trading blogger hands down. I 8767 ve always been a bit amazed that someone like Stephen Burns who only averages 75% year with 7 negative years can have such a big following. I guess starting a blog at the right time. Although I would guess he doesn 8767 t make more than $75K/year from blogging and education products. But who knows.
I 8767 d be remiss if i didn 8767 t share a downside to being a successful trader, something that i 8767 ve become aware of recently. When i was i was pretty easy going, bit of a partier. But to eliminate the thing that always dragged on my trading abilities, my emotions, i 8767 ve become this cerebral, noise-blocking robot that way too quickly runs off stats or the details behind the latest algorithm that Facebook just designed to squash its competitors.
If you just day trade you can become a millionaire over a number of years but only if you save, don 8767 t rack up debt, and invest some of your proceeds just like people in normal jobs. And doing all those things isn 8767 t easy either.
Unlike the stock market and other financial markets, the Forex market has no conditions for you to buy and sell. Investors always have the opportunity to buy and sell, making profit even when the market goes up or down. Thanks to this advantage, traders can make a profit regardless of market trends without having to depend on an upside of the market.
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Investors, hedge funds and mutual funds can accumulate or dispose of positions over weeks, taking advantage of days or even weeks worth liquidity. Day traders don 8767 t have that luxury. It doesn 8767 t matter if a stock trades millions of shares a day if there is only 655 shares available when they need to take the trade (based on the strategy) that 8767 s all they get. That 8767 s an extreme example, but at any given moment there isn 8767 t infinite liquidity available there is what there is, and that means there is a limit to how big of a position you can accumulate and dispose of when your strategy calls for it.
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