GlobalWealth
Legendary Contributor
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
Michael,
this is possible, but improbable. I have had returns of -10% in '08, 110% in '09, and 40% in '10. That's an 38% average return over the last 3 years.
If you read some books about traders like Market Wizards, you will see that many traders achieve this return over the long term. But it isn't easy. And it isn't passive or part time.
It is a full time job requiring a full time commitment. I spend an enormous amount of time reading every day just looking for trends and triggers. Sometimes I go days or weeks without making a trade. Sometimes I make several trades per day.
Keeping your emotions in checking and following your trading rules are imperative. For me, risk management is the biggest issue. I spend most of my day figuring out ways of how not to lose money.
this is possible, but improbable. I have had returns of -10% in '08, 110% in '09, and 40% in '10. That's an 38% average return over the last 3 years.
If you read some books about traders like Market Wizards, you will see that many traders achieve this return over the long term. But it isn't easy. And it isn't passive or part time.
It is a full time job requiring a full time commitment. I spend an enormous amount of time reading every day just looking for trends and triggers. Sometimes I go days or weeks without making a trade. Sometimes I make several trades per day.
Keeping your emotions in checking and following your trading rules are imperative. For me, risk management is the biggest issue. I spend most of my day figuring out ways of how not to lose money.