12-15-2004, 06:35 PM
ShadowHM,Dec 15 2004, 01:11 PM Wrote:Further, he has a greater monetary base to do it from than Abramelin will have. When you have a bigger pot, you can withstand the ups and downs of bad calls much more easily than when you have only $50,000 to do it from.The banned member who started the thread '50 000 us $' is someone else,not me;and I don't own dollars,I only have euros.Actually,investing 50,000 euros or 500,000 euros is not the point of my thread.
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I just ask how to invest,not how much.
I don't understand why someone who day trade,let's say as an example,500,000 euros,can withstand the ups and downs much more easily than someone who day trade 50,000 euros.Losing 1,2 or 3 % of 500,000 euros is as bad as losing 1,2 or 3 % of 50,000 euros;it's just a matter of proportions,really.
ShadowHM,Dec 15 2004, 01:11 PM Wrote:But I would like to emphasize that he is well connected (as in knowing many other day traders, frequenting their chat rooms, etc. He has been doing this a long time, so he knows how to separate the wheat from the chaff - kinda like participating here. If PatrickA posts about a game mechanic and adeyke does too, we know which to believe, eh?).There is no need to be a genius to make money by 'day trading' or only trading.As for chat rooms,I know some.
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I agree that the more experienced,the better.Still,there are good traders who can lose a lot of money;The Barings went bankrupt because Nick Leeson lost billions pounds.
ShadowHM,Dec 15 2004, 01:11 PM Wrote:Lastly, this is his 'job'. He spends from 6 to 8 hours a day on it to be able to get the results he does.There is no need to spend that amount of time/day on it.Day traders can buy/sell a dozen times a day,or just once,it's just a matter of opportunities.There is a possibilty to buy and sell on the internet while having a real life job.Buying just once in the morning and selling in the afternoon can be enough to make money.
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ShadowHM,Dec 15 2004, 01:11 PM Wrote:My point is that, while it is possible to make decent money doing this, the circumstances described by Abramelin do not fit the description of the only person I know who has managed it.Your friend hasn't told you about his failures,because I am sure he lost money too.Ask him about his losses.
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Sure,I don't fit the description of your friend,at least for experience.However,asserting that without a lot of experience and without billions $,it is impossible to make money,is untruth.