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Hello and a few questions!

post #1 of 5
Thread Starter 

Hello everyone! I just found this forum not too long ago and have read around a little bit. I am pretty new to the financial market. I just got into it at the beginning of this year. Since then I have been studying technical analysis tenaciously. I haven't looked much at fundamentals yet because I am primarily interested in swing trading. My understanding is that swing traders often do not concern themselves with fundamentals.

 

I am hoping to get four or five thousand dollars together to use as trading capital. I am wondering what my expectations may be for this. I am 24 years old and willing to study technical analysis and trading very hard. Would it be possible to one day turn four to five thousand in trading capital into a large enough sum that I could live off my trading gains? Say for instance could I eventually make 30,000 to 40,000 dollars a year with just an initial investment of four to five thousand dollars? How long would it take the average person to reach this goal? Is this an unrealistic expectation?

 

Thank you so much for reading my post and I hope one day I can be knowledgeable enough to help others with the market!

 

~ wdb47194

post #2 of 5

You may want to follow the series of investing advice on one of my forums...

 

http://www.hotstockmarket.com/t/225991/investment-advice-for-newcomers

 

Best of luck but you need a tremendous amount of knowledge...it's not just charting!

post #3 of 5

Anything is possible but it may not be practical. In addition to Stone's post check the Wikis link up top and look around the education forum.

 

You can also find some of us here. http://www.hotstockmarket.com/t/186174/meet-and-greet-post-a-pic-of-yourself-and-say-hello/100

 

I'll give ya some Karma for joining and more if I find you in the Meet & Greet. thumbup.gif

post #4 of 5

I am your age, been trading since 18 started with 5k and kept putting money in. I do work and make very good money in my job, but I can tell you if you get good enough you can make good money in the market. I would love to live on just trading, but I have a fear of losing everything I have haha

 

My longish term goal is to save up enough money and hopefully quit my job by 30 and day trade, so far my goal is going pretty well, but I have stopped day trading options right now until my work slows down a bit.

 

As I tell friends that ask me about getting into stocks and making money, nothing worth having comes easy. Work your ass off, and you will be rewarded. 

 

So keep studying up and learn as much as you can, there are tons of men and women here that have a vast amount of knowledge, that can teach you everything you need to know, but remember no one can give you 100% answers when it comes to stocks, the only person that can make the right calls are you. 

post #5 of 5
Is it possible to turn four to five thousand trading capital into 30,000 to 40,000 in a year using only technical analysis with swing trading? Yes.

How long it would take an average person to reach this goal is impossible to say. Depends on whether or not they are able to understand the complexities of the way the markets work, and if they they are able to refine their trading techniques to account for the day to day fluctuations. This could involve a considerable amount of money and pain in the learning process.

Is this a realistic expectation. No, as most will not be willing to endure the hardships to reach this level.

If you can find a brokerage firm that offers a paper trading program, where you can trade in realtime without risking any actual money, that would be the best way to learn. smile.gif
Edited by rst - 6/3/12 at 12:10pm
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