Ok so in a few months I’ll be blessed with a sum of money that isn’t life changing but definitely enough to getting a running start with.
I’ve done pretty well trading over the last couple of years but I’ve made most of my gains simply buying and selling securities, mostly earnings plays with very basic TA skills. Almost all of my losses have been in options.
That said, if I were to utilize this incoming sum of money by daytrading, and only make a 1% gain on the day, it would still be almost double what I make in my 9-5 work day. I’ve done a little paper trading to play with the idea and have consistently been able to get in and out with at least my 1% for the day.
I know I’ll have some trades turn against me, and might have to swing some things but considering that I’d have a short stop loss that would set me back a day at most, this idea still seems a little too easy. What am I missing?
Leave a Reply