This is a great question that can give you a great deal of insight into how much it takes to do the things you want to do. The good news is that if you can come up with $100,000 in your budget you can make it a goal to be a swing trader (at least for a year or two).
The only problem with being a swing trader is that if you’re serious about the game, you’ll need to spend an awful lot of money. The first problem is getting in and buying a stock. The second is getting out. The third is getting your money back.
When I started in December 2009, my goal was to make $200,000 in 3 months from this money.
I had a budget of $200,000 for that exact year. I decided to set a goal based off of my personal savings and my net worth. As a result of my own money being a limiting factor for me and my money being so low, I had to use my $2,000 bank bonus in order to build up more money. Since my total savings limit was only $200,000, I decided to create a list of stocks I wanted to buy that year. This is what I came up with:
I created three stocks on the list and chose a stock in each. I then bought them all. As I’ve done in the past, I was careful to not pay too much for all 10 stocks. Since I was so careful when I was buying or selling each stock, I figured it was much more likely to pay off if I just bought all 10 of them at $7 each. When you do this, you really will be doing it all on one stock, and the rest will likely be worth nothing.
I ended up buying 12 stocks at the top of my list (I eventually purchased 17), and I realized quite quickly that it was overkill for all three reasons.
The first problem is getting in. I was using my “spending” rule to justify not taking the $100,000 in the first place. It seemed like the most sensible way to go about it. I figured if I bought three stocks worth $7, I’d be taking $4 back from each.
The second problem was picking. There will always be a point you’ll be tempted to take some of the profits from an upcoming stock. This isn’t necessarily a bad thing, but I’m not sure why there’s such a desire to maximize your
swing trading forex dashboard indicator free download, swing trading forex time frames, swing trading strategies malayalam, swing trading software reviews, swing trading strategies entry