Carnage on Wall Street signals fears about U.S. economy ???

[Sailor]

Started over 3 years ago. This account/method has tripled. Up at 3am, till NY close 4pm. checking charts a few times an hour or if I am alerted. Goal is a profit of 1k a day.

 

[Jackson]

Started over 3 years ago. This account/method has tripled. Up at 3am, till NY close 4pm. checking charts a few times an hour or if I am alerted. Goal is a profit of 1k a day.

Sounds pretty good. 1k/day is 250k/yr if you're doing it 5 days a week and taking 2 weeks off. That sounds pretty good to me. How much would a person have to have invested to make a full-time living doing this? (Not asking for your numbers, just your opinion on a baseline number.)

 

[Sailor]

There is no way for me to answer that, depends on the individuals standard of living, what their win ratio and Risk/Reward ratios are. Spend some time on babypips and forex factory. PM me detailed questions when you have some questions.

 

[dieselrealtor]

tagged for interest

 

[bwframe]

...

..., while the market gets scarier.

 

[Jackson]

...

..., while the market gets scarier.

 

[Jackson]

There's always some panic in the market that makes people think it's time to walk, or that it's just too risky, or the little man can never win investing in stocks.

Here's a business week cover from 1979 indicating a terrible future for the stock market.



I know. I know. Its different this time. (Its always different this time.)

 

[Sailor]

Good thing about Forex, the direction does not matter, unless you are on the wrong side of it.

 

[Jackson]

Good thing about Forex, the direction does not matter, unless you are on the wrong side of it.

Isn't this true of most trading strategies?

 

[Sailor]

Not for the typical buy and hold investor.

I want volatility in either direction.

 

[Jackson]

Not for the typical buy and hold investor.

I want volatility in either direction.

I wouldn't call a buy and hold investor a trader. I wouldn't necessarily call most trading investing either.

 

[Leadeye]

There's always some panic in the market that makes people think it's time to walk, or that it's just too risky, or the little man can never win investing in stocks.

Here's a business week cover from 1979 indicating a terrible future for the stock market.


View attachment 44423

I know. I know. Its different this time. (Its always different this time.)

The president at that time told us all that the world would run out of oil in 2011 and we were entering a new ice age.

The DNC was looking forward to running against Regan instead of Bush saying that the president would easily beat him.

History can be so amusing.

 

[Lex Concord]

There's always some panic in the market that makes people think it's time to walk, or that it's just too risky, or the little man can never win investing in stocks.

Here's a business week cover from 1979 indicating a terrible future for the stock market.

View attachment 44423

I know. I know. Its different this time. (Its always different this time.)

Not always... but sometimes, it is:

View attachment 44431

 

[Ericpwp]

My great grandfather died that day.

 

[Kart29]

I'm all in favor of investing and ownership of stock in publicly traded corporations. I hope everyone makes a bunch of profits in the stock market (me included).

But something is wrong with the system if people make a profit off a reduction in the value of a company. That's the same moral problem I have with the lottery - it's just night right to gain wealth at the expense of other people.

 

[Sailor]

I chose long ago not to question the morality of other traders.

Pick a number of companies and you can say is it right for this company to gain wealth at the expense of people? Coca-Cola, Monsanto, Phillip Morris etc the list goes on.

 

[Jackson]

I'm all in favor of investing and ownership of stock in publicly traded corporations. I hope everyone makes a bunch of profits in the stock market (me included).

But something is wrong with the system if people make a profit off a reduction in the value of a company. That's the same moral problem I have with the lottery - it's just night right to gain wealth at the expense of other people.

Why? If you go to a store and find some item on sale below what the retailer originally paid because the market price has dropped, do you offer to pay them their cost? Or do you see it as a deal? If you later sell it at a profit in an up market, is that immoral?

If I think a company is going down in value and I buy options against it, it's the same deal. I'm just doing it preemptively. Its amoral, not immoral.

There are not many transactions where one party doesn't gain wealth at the expense of someone else.

 

[Kart29]

There are not many transactions where one party doesn't gain wealth at the expense of someone else.

I certainly don't consider myself an optimist but that seem like a fairly cynical outlook on things. I would suggest that the majority of commercial transactions benefit all parties involved. If a retail store sells a product below cost, I am still benefitting them by reducing the losses they would otherwise experience if I did not purchase the item at all. It's still a benefit to all parties - otherwise one party would not participate in the transaction.
If Acme Company needs capital to expand it's operations and I supply part of that capital which ACME then uses to buy equipment, pay worker salaries, create valuable new products, contribute to the overall improvement of the world, build wealth, and return a portion of their profit to me... then everyone benefits - me, the workers, the suppliers of the equipment, the consumers of the ACME products - that's a benefit for all involved. I like that.
But if I pay someone a fee to make me the promise to purchase ACME stocks I don't currently own at a given price on a later date, and there is a problem at ACME company which causes the value of the stock to go down, I win and everyone else loses. Sure, I gained money but the there was an overall loss to the economy. Workers lost their jobs, capital equipment was not purchased, tax revenues were not generated. I wouldn't feel good about making a profit in that way.

 

[Kart29]

I chose long ago not to question the morality of other traders.

Pick a number of companies and you can say is it right for this company to gain wealth at the expense of people? Coca-Cola, Monsanto, Phillip Morris etc the list goes on.

Yeah, I suppose all of us choose not to question the morality of certain things in our life or the lives of others. This is one area, however, where I have chosen to question the morality of my own actions.

I don't have a problem with Coca-Cola, Monsanto, or Philip Morris. I think all three companies provide a product that people find valuable. I've purchased all of their products in the past and will likely purchase some of them again. I don't see any inherent immorality in those products at all. If someone chooses to abuse those products then that is the abuser's fault; I don't blame the producer. Just like I don't blame Winchester if someone gets murdered with one of their rifles. Now, there may be questions of business tactics that are valid concerns with those companies but I can't speak to those specifics.

 

[Ericpwp]

Dead cat or a new day?