Prix Plafonds et planchers 13 Plafonds de prix Si le plafond des prix est supérieur au prix du marché, il n'y a pas d'effet direct. Si le plafond des prix est fixé au-dessous du prix du marché, alors une pénurie est créée, la quantité demandée dépassera la quantité fournie. La pénurie peut être résolue de plusieurs façons. Une façon est la mise en file d'attente les gens doivent attendre en ligne pour le produit, et seuls ceux qui sont prêts à attendre en ligne pour le produit sera effectivement obtenir. Les vendeurs peuvent fournir le produit uniquement à la famille et les amis, ou ceux qui sont prêts à payer un supplément sous la table. Un autre effet peut être que les vendeurs vont abaisser la qualité du bien vendu. Les marchés noirs ont tendance à être créés par des plafonds de prix. 13 Figure 3.6: Effet des plafonds de prix 13 La figure 3.6 illustre la pénurie qui survient lorsqu'un plafond de prix est imposé aux fournisseurs. Les consommateurs demandent Q D tandis que les fournisseurs ne sont prêts à fournir que QS. Si le plafond des prix est fixé au-dessus de l'équilibre, les consommateurs exigeraient une quantité plus petite que les fournisseurs produisent. 13 Efficacité économique: Vs noir. Marchés juridiques Les systèmes juridiques offrent divers avantages aux systèmes économiques. 13 On peut dire que l'efficacité économique se produit lorsqu'une action crée plus d'avantages que de coûts. Les systèmes juridiques aident les systèmes économiques à devenir plus efficaces en réduisant les risques pour les participants à l'économie. Le risque représente un coût qui doit être compensé par des charges plus élevées. 13 Un risque réduit par la réglementation gouvernementale est le vol. Le gouvernement protège les droits de propriété des propriétaires afin qu'ils puissent bénéficier des actifs qu'ils possèdent et les utiliser de manière efficace et économique. Les participants à un système de marché noir font face à un risque élevé de vol dans leurs transactions ainsi que d'exposition à d'autres formes de violence. Les gouvernements fournissent souvent aussi un cadre réglementaire pour la sécurité des produits. Dans un marché fonctionnant dans un système juridique, les acheteurs de drogues ont une attente raisonnable quant à la qualité des médicaments et les avantages escomptés des médicaments. Les participants à un marché noir de la drogue auront des informations incomplètes sur la qualité des médicaments achetés et, par conséquent, les décisions appropriées sont plus difficiles à prendre. 13 Prix des étages Lorsqu'un plancher de prix est établi, un certain montant minimum doit être payé pour un bien ou un service. Si le prix plancher est inférieur à un prix du marché, aucun effet direct ne se produit. Si le prix du marché est inférieur au prix plancher, alors un surplus sera généré. Les lois sur le salaire minimum sont de bons exemples de prix planchers. Dans de nombreux États, la loi sur le salaire minimum des États-Unis n'a aucun effet, les taux de salaire du marché pour les travailleurs peu qualifiés étant supérieurs au taux du salaire minimum. Dans les États où le salaire minimum est supérieur au salaire du marché, la loi va augmenter le chômage des travailleurs peu qualifiés. Bien que certains travailleurs peu qualifiés obtiendront des salaires plus élevés, d'autres perdront leur emploi. Toujours considérer le système à être complètement manipulé. Cependant, il semble très prometteur de prendre une position à court actions quelque part entre maintenant et Inaguration. Il devrait être une évidence qu'ils voudront réservoir le marché pour montrer Trump qui contrôle vraiment les choses ici. -------------------------------------------------- ------ En termes d'inflation: Dépenses gouvernementales excédentaires est 1T sur un budget 3T. C'est la même chose que l'impression d'argent. Finalement, il apparaîtra. Regardez ce qui pourrait être coupé du budget, il s'ajoute à 2.5T sur 10 ans, ou .25T par an. Mais le déficit est 4 fois plus élevé, 1T. Donc, même avec des réductions massives, nous ne pouvons pas nous rapprocher d'un budget équilibré. S'il vous plaît noter que ce sont sur Paul Ryan8217s agenda, Wisconsin Congressman et Président de la Chambre. Certaines de ces choses dont je n'ai jamais entendu parler. Je crois que le gouvernement devrait appuyer les arts et les sciences humaines dans une certaine mesure, mais peut-être pas à hauteur de 335 MILLIONS de dollars par an PAUL RYAN8217S PROJETS DE COUPES BUDGÉTAIRES Une liste des réductions budgétaires républicaines Avis S. S. et les militaires ne figurent PAS sur cette liste. Ce sont tous les programmes que la nouvelle Chambre républicaine a proposé de réduire. Lire à la fin. Corporation for Public Broadcasting Subvention 8212 445 millions d'économies annuelles. Save America 8216s Treasures Program 8212 25 millions d'économies annuelles. Fonds international pour l'Irlande 8212 17 millions d'économies annuelles. Société des services juridiques 8212 420 millions d'économies annuelles. National Endowment for the Arts 8212 167,5 millions d'économies annuelles. National Endowment for the Humanities 8212 167,5 millions d'économies annuelles. Hope VI 8212 250 millions d'économies annuelles. Subventions Amtrak 8212 1,565 milliards d'économies annuelles. Éliminer la duplication des programmes d'éducation 8212 H. R. 2274 (dans le dernier Congrès), rédigé par le représentant McKeon. Élimine 68 à une économie de 1,3 milliard par an. NOUS. Agence de développement du commerce 8212 55 millions d'économies annuelles. Subvention Woodrow Wilson Centre 8212 20 millions d'économies annuelles. Réduire de moitié le financement pour l'impression au Congrès et la liaison 8212 47 millions d'économies annuelles. Subvention du Centre John C. Stennis 8212 430 000 économies annuelles. Fonds de développement communautaire 8212 4,5 milliards d'économies annuelles. Subventions du secteur du patrimoine et aide statutaire 8212 24 millions d'économies annuelles. Réduire le budget fédéral des voyages en 8212 7,5 milliards d'économies annuelles Réduire le budget fédéral des véhicules de 20 8212 600 millions d'économies annuelles. Essential Air Service 8212 150 millions d'économies annuelles. Programme d'innovation technologique 8212 70 millions d'économies annuelles. 8212 125 millions d'économies annuelles. Ministère de l'Énergie Subventions aux États pour la météorisation 8212 530 millions d'économies annuelles. Beach Replenishment 8212 95 millions d'économies annuelles. New Starts Transit 8212 2 milliards d'économies annuelles. Programmes d'échange pour les Autochtones de l'Alaska, les Hawaïens autochtones et leurs partenaires commerciaux historiques dans le Massachusetts 8212 9 millions d'économies annuelles Subventions interurbaines et de trains à grande vitesse 8212 2,5 milliards d'économies annuelles. Titre X Planification familiale 8212 318 millions d'économies annuelles. Appalachian Regional Commission 8212 76 millions d'économies annuelles. Administration du développement économique 8212 293 millions d'économies annuelles. Programmes en vertu de la Loi sur les services nationaux et communautaires 8212 1,15 milliard d'économies annuelles. Recherche appliquée au ministère de l'Énergie 8212 1,27 milliard d'économies annuelles .. RAC et carburant 8212 200 millions d'économies annuelles .. Programme Energy Star 8212 52 millions d'économies annuelles. Assistance économique en Égypte 8212 250 millions par an. U. S.Agency for International Development 8212 1,39 milliards d'économies annuelles .. Aide générale au District de Columbia 8212 210 millions d'économies annuelles. Subvention à l'Administration de Transit de la zone métropolitaine de Washington 8212 150 millions d'économies annuelles. Fonds de la campagne présidentielle 8212 775 millions d'économies sur dix ans .. Pas de financement pour l'achat d'espaces de bureaux fédéraux 8212 864 millions d'économies annuelles. Mettre fin aux interdictions d'approvisionnement concurrentiel des services gouvernementaux. Abrogez la loi Davis-Bacon 8212 Plus d'un milliard par an. Dépôt direct IRS: Exiger de l'IRS pour déposer des frais pour certains services qu'elle offre (comme le traitement des plans de paiement pour les contribuables) au Trésor, au lieu de lui permettre de rester dans le cadre de son budget 8212 1,8 milliards d'économies sur dix ans. Exiger la perception des impôts impayés par les employés fédéraux 8212 1 milliard d'économies totales. WHAT8217S CECI Prohiber les activités syndicales financées par les contribuables par les employés fédéraux 8212 1,2 milliards d'économies sur dix ans. Vendre des biens fédéraux excédentaires le gouvernement n'utilise pas 8212 15 milliards d'économies totales. Éliminer la gratuité de la mort pour les membres du Congrès. QUELLE. Éliminer les subventions au mohair 8212 1 million d'économies annuelles. Éliminer les subventions des contribuables au Groupe d'experts intergouvernemental sur l'évolution du climat des Nations Unies 8212 12,5 millions d'économies annuelles. BIEN ISN8217T QUE SPÉCIAL Eliminer Programme d'accès au marché 8212 200 millions d'économies annuelles. USDA Sugar Program 8212 14 millions d'économies annuelles. Subvention à l'Organisation de coopération et de développement économiques (OCDE) 8212 93 millions d'économies annuelles. Éliminer le Programme national de partage des coûts de certification biologique 8212 56,2 millions d'économies annuelles. Éliminer le fonds pour Obamacare coûts administratifs 8212 900 millions d'économies. Prêt à apprendre Programme TV 8212 27 millions d'économies .. HUD Ph. D. Programme. Loi sur le contrôle de la réduction du déficit. Certains ont suggéré que les bijoux est un bon investissement, bien que la valeur 8220minting8221 de bijoux prend souvent le prix bien au-delà de la 8220melt value8221. Je don8217t acheter dans cette bijouterie chose, comme prouver la pureté pourrait être assez gênant à l'avenir. Il ya des méthodes de test de pureté, qui implique de mettre des acides sur votre or, et il ne semble pas nécessaire de traverser ce pont. Il ya aussi des testeurs électroniques, qui sont brutalement chers, et juste idiot à considérer même à moins que vous étiez un grand revendeur. 24 karat (finesse millésimale 999) 8211 or presque pur - Cette pondération en carats s'applique aussi aux pièces 22 carats (finesse millésimale 916) 20 karat (finesse millésimale 833) 18 carats (finesse millésimale 750) 8211 75 or pur 15 carats (finesse millésimale 625) ) 14 karat (finesse millésimale 585) 10 karat (finesse millésimale 417) 8211 41,7 or pur 9 karat (finesse millésimale 375) Cuivre (D sur t acheter du cuivre comme une spéculation) Il ya des entreprises vendant des barres de cuivre, . Personnellement, je pense que c'est une forme stupide de spéculation, surtout compte tenu des marges insensées. L'éclatement de la bulle immobilière chinoise va faire pression sur le cuivre pendant encore longtemps. Le logement est 40 de toute utilisation de cuivre. À 3 par livre, contre l'argent à 480 par livre, et l'or à 25 000 par livre, ces PM8217s sont beaucoup plus pratiques. Même si j'ai fait quelques 16 panneaux solaires, et transformé le cuivre en 2 belles pièces d'or brillant Copper pennies --- Je don8217t rouler mes centimes, je les ai mis dans des vases qui deviennent vraiment lourds. J'ai fait un type représentatif pour les coups de pied, les 1909 à 1982 cents valent réellement 2.23 cents dans la valeur de fonte, les pennies 1983 à actuel sont réellement 95 zinc, cuivre 5 et ont une valeur de fonte de 0.48 cents. J'ai obtenu 819 grammes de pennies dans mon échantillon 1983 et plus tard était 615 grammes, 198 pennies ou 75.1 1982 et plus tôt était 204 grammes, 65 pennies ou 24.9 et l'un d'entre eux était un 8220wheaty8221 croyez-le ou pas. À 3.11 grammes par penny, ma taille d'échantillon était 263 pennies. 1 Blé. Valeur totale de 263 pennies en 240 cents la valeur faciale, sheesh Je don8217t pense que le tri pennies est un véritable modèle d'affaires, cependant, pourquoi ne pas les garder Cela coûte plus d'argent pour se débarrasser d'eux dans le temps et le gaz Il existe certains types de transactions qui nécessitent Le concessionnaire PM de faire rapport au gouvernement sur les transactions PM. Les transactions à signaler sont très rares. Certains concessionnaires signaleront seulement les rapports essentiels, et d'autres revendeurs viendront tout droit et déclareront qu'ils signalent votre transaction presque tout le temps. Qui préférez-vous Vous devriez lire la politique des concessionnaires et les questionner quand vous appelez pour acheter. Il y aura des conséquences fiscales lorsque vous vendez, si vous vendez jamais. L'or et l'argent sont généralement considérés comme des objets de collection à l'exception d'un taux d'imposition élevé. --Il faut avouer, les questions fiscales sont complexes et j'ai passé quelques heures à des moments différents essayant d'obtenir une poignée sur elle. J'ai vu ceci sur un site Web de retraite, maintenant les gens tiennent PMs à l'intérieur de 401k et IRAs, je n'ai aucune idée de la logistique physique de cela. Il y a des exceptions. Certaines pièces de monnaie en lingots émis par les États-Unis (généralement les pièces d'or, d'argent et de platine de l'aigle américain) et toutes les pièces émises par l'un des États ne sont pas des objets de collection. En outre, les lingots d'or, d'argent, de platine ou de palladium ne sont pas des objets de collection lorsque le métal est égal ou supérieur à la finesse minimale requise en vertu d'un contrat à terme réglementé et est en possession physique d'un fiduciaire qualifié. Clair comme de la boue Yep, laissez-moi savoir quand vous l'avez compris. Un groupe de rock asiatique-américain appelé The Slants a demandé à un tribunal d'appel fédéral la semaine dernière à la marque son nom, même si le gouvernement dit qu'il dénigre les Asiatiques. Le groupe a fait valoir devant la Cour d'appel des États-Unis pour le circuit fédéral vendredi qu'il a un droit de premier amendement à la marque du nom parce que le discours offensant ou les insultes ethniques ne peuvent pas être censurés par le gouvernement, a rapporté Reuters. L'affaire est surveillée de près car elle pourrait affecter un appel interjeté par la NFL8217s Washington Redskins après que ses marques ont été annulées par le US Patent and Trademark Office sur le motif que le nom de l'équipe dénigrait les Amérindiens. Indeedy là. Ouais, ce nom de Washington Redskins pourrait être offensant. Après tout, depuis environ 1820, tous les Indiens ont été chassés de l'est à l'ouest du Mississipi par Washington, bien que quelques-uns se soient arrêtés dans le Wisconsin jusqu'aux années 1850 et même après les traités au point d'un fusil, quelques groupes indiens Tels que le clan du chef Kewauskum (maintenant une ville dans le Wisconsin) ont collé autour jusqu'en 1890 et ont voyagé librement, ayant un camp primaire au lac Pike. C'est une toute autre histoire. Tout cela à part, une consultation de 300 Indiens Potawatomi a déclaré que oui, en effet, ils se sentent le nom de Washington Redskins à dénigrer et ils déposent une requête en tant qu'intervenant pour changer le nom de The Redskins et restaurer le statut de marque, ainsi que Droit de redevance sur le nom antérieur. -------------------------------------------------- - Eh bien, c'est une blague, mais une plaisanterie irrévérencieuse mais pertinente. Stock out Mercredi, 10 septembre 2014 MISH avait ceci affiché avec des pensées d'une panne en cuivre. Il s'est avéré que MISH était 100 correct Jeudi 17 juillet 2014 Mise à jour 3-24-13 - Un ami avait demandé comment achetez-vous de l'or et j'ai fait une rédaction pour lui, et pour votre avantage aussi. J'ai un peu d'expérience. Avec les manigances continuelles dans l'UE et Chypre, y compris la menace de vol direct de comptes bancaires assurés, tout va bien. Cet article est comment je acheter des métaux précieux (PM) Toute forme de richesse électronique est suspect, facilement détourné volé à un frappe. Posséder des actifs durables dans un monde potentiellement déflationniste (alias Pretcher MISH) pourrait entraîner de grandes pertes, mais avec le monde entier en cours d'exécution de leurs presses d'impression au royaume venir, les chances d'inflation semble sans aucun doute bas. Couvertures d'inflation suggérées 1) Or, argent, platine, palladium 2) Propriété directe des puits de pétrole 3) Propriété directe des actifs solaires produisant de l'électricité 4) Propriété de l'immobilier, en particulier des biens immobiliers productifs de revenu. 5) Propriété directe d'une entreprise qui peut durer à travers la récession et l'inflation. Ici, il est en bref: Achetez une once d'or d'argent junk, pré-1964 dimes, trimestres, les moitiés de platine et de palladium en 1 once de pièces de monnaie, le seul véritable choix est Canadian Maples Junk argent jusqu'à 15 000 ou 15 de votre pile globale Et Le reste dans les barres d'or, puis quelques pièces d'érable du Canada ou des pièces de monnaie Krugerrand. Jusqu'à 10 de votre pile totale en platine et Palladium Éloignez-vous des pièces de collection numismatiques, ils ont tous 8220 bonnes histoires8221, juste rester à l'écart, sauf si vous êtes un véritable collectionneur de pièces. Quel que soit le PM que vous achetez, regardez toujours le marge sur le cours au comptant du métal (utilisez des contrats à terme pour le prix au comptant). Obtenez le plus de métal que vous pouvez Finviz est un bon endroit pour le prix au comptant à terme. Toujours essayer d'obtenir le plus de métal pour votre argent. Don8217t être impressionné par des pièces qui viennent avec un marge bénéficiaire élevé (aka prime) sur spot comme les pièces d'or American Eagle. Sur les Eagles vendent le prix 1688 quand la tache est à 1614, that8217s une grande prime. Également surveiller les frais d'expédition et d'assurance, les bons concessionnaires que je recommande sont toujours raisonnables à ce sujet, peu scrupuleux peuvent vous frapper avec un grand coût qui augmente efficacement vos primes. Souvent, les commandes de plus de 10.000 ou 20.000 seront livraison gratuite et l'assurance, mais l'expédition et l'assurance n'est pas vraiment grand de toute façon, vous ne devriez pas payer plus de 25 ou plus ----------------- -------------------------------------------------- -------------------------- Pour les débutants, obtenir 5000 à 15.000 en argent pré-1964 dimes et trimestres, cela s'appelle JUNK SILVER et il ya Rien de sale à ce sujet. Un quart vaut environ 6, un dime est de 25, environ 2,50 pour la pensée notionnelle. Vous en avez besoin pour le troc et le changement dans le nouveau désordre mondial. (NWD TM) L'argent de la jonque est vendu par 8220Face Dollar8221, ainsi un dollar de visage des quarts serait 4 quarts, ou 10 dimes. Le poids de l'argent en dimes et trimestres est exactement proportionnel à la valeur nominale USD de la pièce. 10 dimes a exactement autant d'argent que 4 trimestres. Un dollar face de l'un ou l'autre des demi-dollars, trimestres ou dimes sera autour de 0,715 onces d'argent en fonction de l'usure sur les pièces de monnaie, même si elle ne va pas varier beaucoup. L'argent est plus lourd que vous ne le pensez. Vous pouvez mettre 20 000 dans un sac à dos, attraper votre sac bug-out, et juste frapper la route. Pour la pensée théorique, l'or est d'environ 25.000 par livre, donc vous pouvez facilement transporter 100 k de la richesse. L'argent vient également dans 1) Le gouvernement a frappé des pièces de monnaie (crédible mais plus de majoration) 2) 8220Rounds8221 qui sont pièces rondes comme des objets mais qui aren8217t frappé par un gouvernement, ceux-ci sont vendus à la prime inférieure, mais dans un monde de Mad Max vous pourriez avoir des problèmes 8220proving8221 Être réel. 3) barres de 10 onces, très frais, approximativement 300 notional, pile bien. Vous pouvez également obtenir 100 onces et même 1000 barres d'once, mais dont. Beaucoup de gens recommandent un pourcentage plus élevé d'argent dans votre portefeuille que l'or en valeur monétaire. Ils pensent que parce que le ratio à long terme de l'or à l'argent des prix est élevé, que l'argent peut apprécier plus que l'or. Mais l'argent est également 8220poor man8217s gold8221 et le pauvre homme est 8220retail8221 et le commerce de détail paniques quand les choses deviennent un peu sommaire. Aussi l'argent ne rend pas facile de transporter des richesses sérieuses, alors que l'or fait. Or: Vos principaux choix sont des pièces de monnaie du gouvernement et des petites barres de 1 onces. Il ya aussi de grands bars, mais pourquoi obtenir un grand bar Pour ego Il n'ya pas de réel avantage à obtenir de grands bars, et les bars peuvent avoir besoin d'une certification lorsque vous les vendre. Il ya eu quelques cas où Tungsten a été mis au milieu de la Gold Bar. Tungstène est presque exactement la même densité que l'or, son juste 0,02 plus lourd que l'or, de sorte qu'ils peuvent le cacher dans l'or. Les barres ont une prime inférieure que les pièces en général, aussi bas que 16 sur spot, bien que ce faible est rare, moins de 30 prime par once est normal. Aussi les bars ont un avantage que vous ne pouvez pas penser important en ce moment, mais il peut être très important à l'avenir. L'or sous la forme d'un instrument monétaire 8221 a des exigences de déclaration différentes lors du transport hors du pays. Beaucoup d'experts disent que vous devriez diversifier le pays dans lequel vous détenez des actifs, en effet, pourquoi mettre tous vos oeufs dans un même panier. Bien sûr, tous les pays vont dévaluer leur monnaie jusqu'à ce qu'un événement les empêche d'imprimer de l'argent et de dévaluer leur monnaie. Ils tenteront également d'empêcher la richesse de quitter leur pays, et les États-Unis battra tous les autres pays sur la tête avec la puissance financière et militaire. D'autre part, il est également bon d'avoir un bouquet d'or près de vous. Le stockage de l'or est une question complexe et ne fait pas partie de ce traité. Certaines pièces d'or sont en or pur .9999. Le seul problème avec cela est que l'or pur est doux et il peut se gratter dans 8220use8221, mais combien d'utilisation allez-vous vraiment faire Combien de fois allez-vous avoir une pièce de 1600 coups de pied dans votre poche. 1) L'aigle des États-Unis est de 22 carats, il a 91,67 d'or, 3 d'argent, 5,33 de cuivre 2) Le Buffalo États-Unis est de 24 carats ou 99,99 or pur, il gratter plus si c'est une préoccupation, et les primes varient un peu. Pour une pièce d'or pure, je vais aller avec un érable canadien, qui vend avec beaucoup moins de prime. 3) Érable canadien 8211 24 carats, ou 99,99 or, grande pièce de monnaie, grande crédibilité, prime raisonnable sur place 4) Le 8220Krug8221, ou Krugerrand classique d'Afrique du Sud. Une grande pièce de monnaie avec quelques-uns des plus bas prime sur les pièces d'or bien considérés. Le Krug est de 22 carats, 91,76 d'or le reste est de cuivre, un alliage connu comme 8220Crown Gold8221. Il contient cependant une pleine once d'or. 5) Il y en a d'autres, l'Orchestre philharmonique autrichien, et le Panda chinois. Je pense que le Panda semble idiot et n'ont aucun intérêt à soutenir China8217s PM marché. Ce sont les plus faibles prime de tous les produits d'or (16 sur spot est le meilleur que j'ai vu cette décennie, 30 prime est normal). Achetez toujours la barre 1 Ounce, les barres plus grandes sont pour ego ou portefeuilles sérieux (plus de 10M). La Monnaie de Perth, le Credit Suisse autrichien, la Monnaie royale canadienne et la Pamp Suisse sont tout ce que vous devez savoir. Platinum et Palladium Coins: pourquoi ne pas diversifier un peu, j'ai acheté du platine en Novembre 2012 quand un de mes concessionnaires recommandé avait une bonne bull session avec moi et a déclaré 8220I comme étant diversifié dans un métal qui est produit dans un pays volatile comme l'Afrique du Sud8221. En effet, quelques jours plus tard, une grève violente a frappé un grand producteur en Afrique du Sud et le métal a explosé. Le Canadian Maple Platinum a une prime raisonnablement faible, il est d'une valeur de 50 8220face8221 comme une véritable pièce du gouvernement, la valeur d'environ 1700 en coût minted. Une prime d'environ 60 par érable est normale. Pour le Palladium, la prime est d'environ 30 par érable. Les PGM Platinum Group Metals ne sont pas des métaux monétaires en tant que tels, ils peuvent ne pas être aussi utilisables dans un scénario de SHTF Armageddon, cependant, je suppose qu'après Armageddon, une certaine normalité reviendra dans ma vie. Certains ont suggéré que les bijoux est un bon investissement, bien que la valeur 8220minting8221 de bijoux prend souvent le prix bien au-delà de la 8220melt value8221. Je don8217t acheter dans cette bijouterie chose, comme prouver la pureté pourrait être assez gênant à l'avenir. Il ya des méthodes de test de pureté, qui implique de mettre des acides sur votre or, et il ne semble pas nécessaire de traverser ce pont. Il ya aussi des testeurs électroniques, qui sont brutalement chers, et juste idiot à considérer même à moins que vous étiez un grand revendeur. 24 karat (finesse millésimale 999) 8211 or presque pur - Cette pondération en carats s'applique aussi aux pièces 22 carats (finesse millésimale 916) 20 karat (finesse millésimale 833) 18 carats (finesse millésimale 750) 8211 75 or pur 15 carats (finesse millésimale 625) ) 14 karat (finesse millésimale 585) 10 karat (finesse millésimale 417) 8211 41,7 or pur 9 karat (finesse millésimale 375) Cuivre (D sur t acheter du cuivre comme une spéculation) Il ya des entreprises vendant des barres de cuivre, . Personnellement, je pense que c'est une forme stupide de spéculation, surtout compte tenu des marges insensées. L'éclatement de la bulle immobilière chinoise va faire pression sur le cuivre pendant encore longtemps. Le logement est 40 de toute utilisation de cuivre. À 3 par livre, contre l'argent à 480 par livre, et l'or à 25 000 par livre, ces PM8217s sont beaucoup plus pratiques. Même si j'ai fait quelques 16 panneaux solaires, et transformé le cuivre en 2 belles pièces d'or brillant Copper pennies --- Je don8217t rouler mes centimes, je les ai mis dans des vases qui deviennent vraiment lourds. J'ai fait un type représentatif pour les coups de pied, les 1909 à 1982 cents valent réellement 2.23 cents dans la valeur de fonte, les pennies 1983 à actuel sont réellement 95 zinc, cuivre 5 et ont une valeur de fonte de 0.48 cents. J'ai obtenu 819 grammes de pennies dans mon échantillon 1983 et plus tard était 615 grammes, 198 pennies ou 75.1 1982 et plus tôt était 204 grammes, 65 pennies ou 24.9 et l'un d'entre eux était un 8220wheaty8221 croyez-le ou pas. Droits d'auteur Tous les documents considérés comme étant protégés par des droits d'auteur, tous droits réservés. Les liens vers ce blog sont bien sûr bienvenus. Le matériel peut être levé tant que le crédit est accordé à HawaiiTrading d'une manière indélébile. Il ne s'agit pas de conseils en matière d'investissement. Nous ne sommes pas Conseillers en placement et nous ne détenons aucun type d'accréditation financière. Toutes vos décisions d'investissement sont prises à vos propres risques. Ce n'est pas des conseils d'investissement J'ai créé ce blog pour enregistrer mes observations personnelles et subjectives sur les marchés, uniquement pour mon divertissement et celui des lecteurs intéressés et pour encourager la recherche. Rien sur ce blog ne doit être interprété comme un conseil financier ou une offre ou une recommandation pour acheter ou vendre un titre. J'encourage toute personne intéressée par les marchés à faire vos propres devoirs ou à consulter un conseiller professionnel. Je ne suis pas un conseiller financier certifié et je suis encore affiner mon système commercial. Je me réserve le droit de modifier ou d'arrêter de publier des aspects de mon système à tout moment. Mon système a entraîné des retraits très importants dans certains métiers. Les résultats antérieurs et en temps réel ne garantissent pas les performances futures. Je ne serai pas responsable des pertes ou dommages de quelque nature que ce soit résultant du contenu de ce site. Bien que je considère les données, les calculs et les informations sur ce blog pour être fiable, je ne peux faire aucune garantie et ne sera pas tenu responsable ou responsable de tout ce qui est erroné sur ce site. Vous êtes seul responsable de la mise en œuvre des sauvegardes de vos données et de votre système lorsque vous utilisez ce site, son contenu et ses liens. Il appartient à l'utilisateur de ce site et de son contenu de se protéger contre les vers, les chevaux de Troie, les virus et autres. Je peux occuper des postes dans certains des titres mentionnés dans ce blog. Rien dans ce BLOG ou documents référencés est destiné à être des conseils d'investissement. Chacun doit consulter un conseiller en placements et un conseiller financier. Tous les investissements et le risque de carry trading, qui dans l'environnement actuel peut être extrêmement important, surtout si vous utilisez des instruments à effet de levier tels que 2X. 3X, options ou futures. James Altucher 8 raisons de ne Daytrade Tout le monde veut être un daytrader. Permettez-moi de vous dire les meilleurs jours. Vous arrivez à 9h25. Vous faites le commerce de votre système vous dit de faire à 9:30. Et à 9h45, le commerce est fait, rentable, et vous êtes fait pour le jour: 1800 plus riche et heureux à son sujet. Encore mieux sont ces histoires de personnes qui ont pris 3000 hors de leur carte de crédit et 18 mois plus tard, j'avais 25351,011.45 dans la banque. Le premier jour, j'ai décidé que j'allais être daytrader à plein temps, le 18 mai 2001, j'étais tellement excité que je ne pouvais pas dormir la nuit. C'était incroyable pour moi combien d'argent j'allais faire. Mais c'est tout un mensonge pour vous. J'ai encore occasionnellement daytrade. Et Ive daytraded pour d'autres personnes. Ive daytraded pour les hedge funds et pour les entreprises de négoce d'actions. Juste avant de commencer daytrading, un vieux-timer qui avait passé 40 ans dans l'entreprise m'a dit, Dont le faire. Pourquoi voulez-vous être impliqué avec ces gens. Mais je voulais être ces gens. J'étais l'un des leurs. J'étais un COMMERÇANT. Ne pas le faire8230Heres pourquoi: 8211 Suicide. À un certain moment, vous vous sentirez suicidaires. Cela ne signifie pas que vous avez perdu tout votre argent. Vous pourriez juste avoir votre pire semaine en 2 ou 3 semaines. Mais pour une raison quelconque, vous avez acheté quand vous devriez avoir vendu et qui a envoyé votre tête tourner et maintenant vous avez besoin d'être parlé de la corniche. J'ai parlé beaucoup de gens au large de la corniche au cours des 10 dernières années et a dû être parlé quelques fois moi-même. Ce n'est pas un sentiment agréable. Pourquoi faire ça à vous-même? Pourquoi pas? Vous venez de mettre sur le commerce et le second que vous avez fait allé contre vous. Donc vous avez mis plus et il est allé contre vous un peu plus. Alors maintenant, vous regardez et vous vous sentez mal. Votre corps doit se sentir bien. Votre corps est très à court terme dans sa pensée. Son dire, vous avez fait quelque chose qui m'a fait me sentir mal alors maintenant j'ai besoin d'un beignet. Je sais que l'équilibre de la mauvaise impression alors allez le faire. Se dépêcher. Alors vous mangez un beignet. Le commerce va plus contre vous. Vissez, vous mangez 5 beignets plus. Six. Sept. Im getting sick même écrire cela. Huit. Neuf. Etc. 8211 Vos yeux vont mal. Imaginez que vous avez deux écrans en face de vous et des milliers de numéros et ils sont tous clignotant et passer du vert au rouge au vert. Youre regardant ces nombres pour des milliers d'heures au cours des années. Je ne peux plus lire des livres près de moi. Les lettres se fondent toutes et ressemblent à un kaléidoscope. Je dois prendre mes lunettes pour les lire. Bien, est-ce si mauvais Peut-être je ne vais pas besoin de lunettes plus éventuellement. 8211 Vie sociale. Pensez-vous vraiment que perdre 500 000 de l'argent de vos clients en une journée va vous faire une personne heureuse, chipper lorsque vous sortez avec vos amis ce soir-là. Une personne m'a dit, jouer avec vos enfants. Les enfants vous rendent toujours heureux. Qu'est-ce que je veux vraiment écouter un jabber quatre ans sur quelque chose quand Ive got money on the line Oubliez ça. 8211 Pression artérielle. Quand j'ai un métier contre moi, je peux m'asseoir là et sentir le sang pomper tout mon corps. Je peux sentir mon rythme cardiaque. Cela pourrait sembler une superpuissance, mais il n'est pas. Si vous entendez chaque impulsion unique traversant tout votre corps alors quelque chose de très mauvais se produit. 8211 Rien de productif. Mon plus grand regret dans la vie est les heures que j'ai passées à regarder les métiers quand je couldve fait une entreprise de site Web ou de commencer un autre type d'entreprise qui couldve effectivement été utile aux gens. Comme un beignet. Qui suis-je en aidant en essayant d'arracher quelques milliers de dollars sur le marché tous les jours Si quelque chose, son comme Im en essayant de choisir quelqu'un poche 8211 le malheureux, trop manger, suicidaire, bâtard de l'autre côté de mon métier. 8211 Aucune carrière. Lorsque vous vous asseyez là et le commerce tous les jours youre pas de réseautage avec des amis ou d'autres professionnels. Vous n'apprenez rien de nouveau sur le monde ou les affaires. Chaque seconde, vous vous asseyez là, en regardant un métier, vous vous éliminez de plus en plus loin de toute notion de carrière puisque daytrading n'est pas une carrière. Vous êtes plus près d'être un détenu dans un établissement psychiatrique et pas un membre fonctionnel de la société que vos enfants peuvent être fiers. 8211 C'est impossible. Je connais de très bons daytraders. À long terme, il est possible de gagner de l'argent daytrading. Mais c'est dur et il faut des années pour construire la psychologie. Chaque bon daytrader que je connais souffre de tout ce qui précède. Vous devez être extrêmement humble, n'ont aucune illusion de grandeur quand il s'agit de vos opinions sur le marché, prendre des pertes aussi rapidement que possible, et ne pas se décourager. Hélas, à long terme, je n'ai aucune de ces qualités. Et toi non plus. (Voir aussi, Qui fait vraiment de l'argent à Wall Street) Bon message, parlé de quelqu'un qui a été dans les tranchées. Même quand vous avez un système pour emporter autant de la roulotte émotionnelle que possible 8211 il est toujours là. Les systèmes ne peuvent qu'emporter l'émotion de l'achat et de la vente. Nous avons encore à traiter avec le portefeuille ups amp downs. Et l'homme, il faut des années pour être assez intelligent pour réaliser que vous sentirez toujours toujours ceux-là. Oh, et j'ai adoré la citation de poche pick8230so vrai. ROFL8230 c'est une pièce fantastique .. je peux sympathiser avec le poids ajouté 8230.been il faut dire que je don8217t d'accord avec quoi que ce soit dans le post. I daytraded dans les jours de gloire du dernier marché haussier en 2007 amp les bénéfices empilés. Didn8217t ont besoin d'options ou aller court, même si j'ai appris depuis sont des outils précieux sur les marchés baissiers. Daytrading est le défi ultime. It8217s un jeu au sujet de gagner ampli strategizing amp prenant ce qui est là pour la cueillette. Il exige une concentration intense, beaucoup de recherche amp désir. Je suppose que vous avez soit la passion pour le marché, ou vous don8217t. Si vous avez la passion, vous perfectionnez votre art. or maybe you just keep working, learning, trial by error. its great for people who like working for themselves, calling their own shots, accepting responsibility for gainslosses, amp ultimate success or failure. gotta keep the negative self-talk to a minimum of course, amp maybe keep healthier snacks than doughnuts at hand. It is not true that day trading 8211 or whatever other style of trading 8211 is unproductive Traders are the lifeblood of capitalism: no traders, no financial markets, no trillions of dollars of money available in the society for building business and improve our civilization and allocate capital in the best directions Hi, good post and I agree for some parts but not everything8230 I have spent 12 yeas in the corporate finance world and volontary quit 3 years to be a daytrader8230 I trade futures and small caps and I love it It fits my personality ang I don8217t have to loose my time in stupid meetings8230 but I must say that most people will loose money trading8230 95 . You have a nice website and you write smart articles . À votre santé. Francois, Canada Mike Taylor, you have a great blog at taylortree. I enjoy reading it. And yes, you8217re right. Systems mean nothing and the psychology takes years to develop. Pier, you might be right about it being the lifeblood. But I8217m not sure who is doing the bleeding. Francois, I do agree that it beats doing a corporate job. Once you leave the corporate world and discover that most of the world doesn8217t sit in conference rooms all day, you can never go back. I was there, but learned that I can8217t do it full time, so now I have a business and just put on some trades here and there, I run a business first, my Insurance agency and trade secondary, but I love it and hope I can do it for the rest of my life. David, thats the way I do it. When I see a trade where I feel there is an edge, I make it but now I focus more on other parts of my business. HI, MY NAME IS ROGER AND I8217M FROM THE BIG STATE OF TEXAS. I DID NOT WANT TO BE A DAYTRADER BUT IN 2007 I PUT MY ENTIRE LIFE SAVINGS OF 10,000 DOLLARS ON SIRIUS STOCK (NOT KNOWING NOTHING). TO SAY THE LEAST I LOST EVERYTHING ALMOST. INSTEAD OF HANGING ON LIKE I SHOULD OF I SOLD WHEN I SHOULD OF HELD. THAN I WENT AND HOCKED EVERTHING I OWNED INCLUDING MY MOM8217S DOUBLEWIDE TRAILER HOUSE AND STARTED SHORTING SIRIUS STOCK. NOW MEL K. CEO OF SIRIUS HAS TURNED THE COMPANY AROUND AND THEY ARE MAKING HUGE PROFITS, AND I8217M HOMELESS. 8220but I must say that most people will loose money trading 95 . You have a nice website and you write smart articles.8221 Never a more true word spoken. Losing is secondary, to THE second guess IMHO, YOU have the GUT, you KNOW how it will move. You KNOW you will win it. And YOU do not make the trade.(for whatever reason). Sure enough, it HITS, you were dead on, and lost a lot of, because for WHATEVER reason, you did not pull a trigger that the GUT said DO IT. To me, THOSE moments were worse than losing money. Luckily I had some sanity, I set aside X dollars, said, win, draw, lose82308230.I QUIT when it8217s gone. It8217s like Vegas, a beckoning siren. Now when the HFT8217s are running the screens in nano secs, and the Fed are pushing the Mkt, you realize, the Mkt (as we knew it) is GONE. RodgerDoger - it8217s stories like yours that give daytrading a bad rap Hey James8230I found your article intriguing. You are a person I respect in the stock market. I just want to point this out regarding your daytrading article8230..everything you say is basically true. However, it8217s always been this way with daytrading. I never see an article against daytrading when the market is down8230it8217s only during the bull runs like we have had over the last 8 weeks that I see anti-daytrading articles. I think it8217s important to point out that yes, likely 90 of daytraders or active traders fail. However, I would like to also point out that the same is true for buy and holders8230.most of them anyway. I don8217t know many successfull investors either. Or at least those that are honest about it. If you are a trader either you gotta love it or you gotta leave it. I love my job8230.look forward to it everyday8230.amp I trade whenever I feel like it. As a trader, I control my own destiny. Je suis mon propre patron. Not everyone can do it, because not many grasp the mental aspect or psychology that comes with loss. Anyways, if someone daytrades, invests, or swing trades8230.good luck out there, because the market is not easy82308230ever. Only the really humble survive8230and not many are humble in this business. JohnWelsh, I agree with you. If you look over the past 50 years there8217s basically been only two approaches that have consistently made money (in the millions or billions). A) The BuffettGates approach of holding a concentrated portfolio (one company, for instance) forever. B) The complete opposite extreme. The Goldman Sachs approach of making thousands of trades at high frequency every second. The 99.9 of the guys in the middle pretty consistently lose money. Senor Rodger, why you no tell everybody you live in my basement after you lose your money with the daytrading You no tell everybody the full story how I give you tacos from my store. James, I8217ve been reading and enjoying your writings for years. Good stuff and I hope you keep writing. With respect to this article, You raise some valid points but I don8217t agree with you telling people not to try something they believe may bring them financial success. How different is trading from any other job that doesn8217t guarantee a salary Like a commissioned sales person or someone starting a new business. The majority of folks who go into Sales fail as well or burnout since they are only as good as their last sale or sales quarter. I8217m also not talking only about low end no degree needed sales jobs but sales reps for global company8217s as well. Many entrepreneur8217s put years of effort into something to only fail miserably as well. These types of jobs are not for everyone but those that try and succeed reap huge satisfaction amp rewards. I worked in corp fortune 100 sales for most of my life and I trade now for a living as well and I can tell you that a lot of the problems that you mention that arise from daytrading happens in other lines of work as well. I know Sales amp (ex-sales) people from big nasdaq traded company8217s that are on anti-depressants or are overweight from stress eating. Many have no social lives or are divorced already simply because they are working 15 hour days trying to hit their goal for the qtr so they won8217t get fired. I also know many programmers, Engs and Cube droids who complain of bad eyesight amp weight gain from sitting in front of a computer all day long so these effects are not limited to daytraders. Anyway, My point here is that if you want financial or working freedom (unless you were born into it) you will have to at some point take on risk. So I would never discourage people to at least try if they want. If you get your ass kicked picked yourself up shake off the dust and go do something else or go use what you learned amp try again. It8217s not tragic to have tried at something and failed but to have never tried certainly is. Treat trading as any other busines. Have a business plan, keep track of your records, have a pic or video of your trades. Have week meetings to review. Have discipline and perseverance and do it. The only difference with other business is that you are by yourself 100. Psicology is important, needs to be part of your plan. Please do not justify failure with other reasons to say that trading is impossible. trading is challenging maybe respectfully is just not for you Jesus. You act like day-trading and swing trading are completely different things. Get a grasp of scaling and sticking to your stops and anyone can become a trader. Day-trading, really, should only be a tool to your swing-trading. Day-trading brings pennies whereas swing-trading brings the big monies. If at this point you are still nail-biting over your trades, it8217s time to get ahold of some trader8217s psychology books. Get yourself together man. And that hair. Sorry, but the entire article reads like someone who has blown up their account, and wants to make sure no-one else even tries. All the reasons that you list read like the litany of someone trading without a defined edge, no real money management and using pure emotion to enter and exit trades. I don8217t buy the 8216portfolio swings8217 argument either. If your edge works, what do you care about a lousy loss If you know your profit to loss ratio is covering it, who cares (You did test your method, right) So the eight reasons fully interpreted would be: 1) Suicide 8211 yep, if you are taking swings at the market with no discipline and doing things just to show it who8217s boss, you8217re going to be feeling like a downtrodden fool. The inverse is someone who knows the edge they are trading, and can take a loss as easily as they close out profitable trades. 2) Overeating 8211 Compensating for a lack of plan, you treat yourself. I guess people who don8217t actually craft a plan do this, but not the traders I know. 3) Eyes go bad 8211 This makes no sense at all. Either you have a bad prescription or there is something going wrong with you internally. Every person I know that screen trades needs to take breaks from focusing on the screen, but so does every other cubicle monkey in the corporate world. Learn your limits, and work around them. 4) Social Life 8211 Markets close, trades exit and you can have a life outside of trading. Lots of people do, I don8217t know why this hypothetical case of self-imposed hermit behavior would apply. Oh, of course if you took on a big position just to 8220Show the market who8217s boss8221, well 8211 you reaped the reward of being a random fool, not a true trader. 5) Blood pressure 8211 Yeah, there8217s this thing called 8220knowing your risk8221. Even if you have a system that requires you to take 10 losses for every winner, but you know that winner will recoup your loss 8212 that is an edge you can use. If you have your whole body raging at you, you8217re losing your hair and you are developing ulcers, you don8217t have a trading plan. Stop, exit your trades and get something that works. Once you have it, understand your risk and even automate you strategy if you feel you can8217t handle it psychologically. Remove the potential failure modes from your trading plan. 6) Nothing Productive 8211 I don8217t get the 8216guilt8217 about trading. You are doing something. Just because you aren8217t out in the field plowing furrows and planting corn, doesn8217t mean the digital transactions you are executing don8217t have trickle-down and immediate effects. Your winning day translates to money spent on other services, which in turn makes the wheels of the economy go around. If you have this much of a hang-up about making money, I suggest you go to volunteer organization and leave trading behind. It could be the root of your hatred and self-loathing of losses has way more to do with your relationship with cash, not daytrading. 7) No Career 8211 You8217re self-employed as a trader. That is a career. Sure, it isn8217t the usual yes-boss-right-away-sir kind of cubical job that 90 of the world has, but it is a career. Again, if it really is hard for you to think of it as something serious and productive, there are way deeper issues you need to address. 8) Its Impossible 8211 spoken like someone destined to fail. If you have no plan, you have no business trading. If you have no edge, you have no business trading. If you can8217t execute your trading plan, you have no business trading. The issue isn8217t with daytrading, it is with your approach and willingness to follow through. Winners aren8217t magically made, they put in the effort and time to master the challenge. In your summary, I see you allude to all this 8211 don8217t have your ego invested in what you8217re doing, take your losses fast and avoid psychological pitfalls. But seriously, even if you don8217t have the daytrading mindset 8211 it doesn8217t mean the rest of us don8217t. nail in the head. but thanks to Jimmy for starting this conversation and for being honest about his feelings. i am a day trader and I did have similar thoughts like Jimmy at some point in the past. Trading is 80 emotional and psychological, the rest is technique. I think those interested in trading will learn more about how to trade in a consistent, profitable manner by going to yoga or by meditating, than by reading all horse-sht 8220How To Trade Like 8221 books. Great post. Everything on your list is 100 correct. However, every single one of them can be eliminated or vastly improved upon, especially since the majority of them are emotional based problems. 8220No career, social life, and productivity8221 are nothing more than personal perception. Life is what you make of it. There are plenty of people who think they have all three, but in reality don8217t understand the value of life. Deliberate practice is IMO the backbone of every successful person in the world who engages in something that requires 8220talent and skill8221. If you were to interview the successful traders you know they would all share the same 8220x factor8221 - gt the DRIVE to become great. The 10 of people who make it trading (any type) bust their butt to do so. They focus on their weaknesses and improve upon them. The 90 who fail simply lack the drive to become great. The million dollar question is: where does the drive come from I personally think it8217s an accumulation of experiences. For example an unknown experience when you were 6 may have unlocked your interest in entrepreneurship. Then in your teens something triggered an interest in computers. Finally in your 208217s something triggered the drive to do something great in the internet business. The drive that made you great at website building doesn8217t exist within me. The best people in any field are those who devote the most hours to what the researchers call 8220deliberate practice.8221 It8217s activity that8217s explicitly intended to improve performance, that reaches for objectives just beyond one8217s level of competence, provides feedback on results and involves high levels of repetition. For example: Simply hitting a bucket of balls is not deliberate practice, which is why most golfers don8217t get better. Hitting an eight-iron 300 times with a goal of leaving the ball within 20 feet of the pin 80 percent of the time, continually observing results and making appropriate adjustments, and doing that for hours every day 8211 that8217s deliberate practice. Agree with everything TraderTim said If everyone had this mindset, we wouldn8217t have 99 of the innovations we have today. How many inventors were told, 8220It8217s impossible.8221 No one would be doing anything remarkable in this world with that kind of attitude, and to ego up and say that since you don8217t have those qualities, the reader here doesn8217t either, really kind of makes me giggle. There is a lot of emotional pitfalls in trading 8211 but like TraderTim said, having a method and using techniques that you have honed over time (whether that be from paper trading initially, to trading small lots, to finally swinging big trades) you can avoid these pitfalls and have faith in your abilities. Obviously, if you fall victim to half of the things listed in this article, you might as well go sit at the craps table, because it8217s like the writer here just typed in a few ticker symbols and boughtsold when he 8220felt8221 it was time. Just curious why everyone subscribes to the meme that 95 lose money. That meme showed up during the SOES bubble and everyone repeats it rote as if it were the holy grail. Some scientific testing should be done with this hypothesis, and it shouldn8217t be repeated until it8217s either proven or disproven. Same thing with the statement that the 99.9 in the middle lose. That should be tested also. As far as daytrading, I agree with you somewhat with the bidask, the market friction, the vig, and mistakes willkill you. That being said, I spent many, many years in the pit and made a very tidy sum scalping. That being said, these days, my trades these days are primarily huge grain spreads that can be on for months and months. So where does the money come from Mr. Daytrader A whole lot of other traders think their money is going to come from you. Somebody is seriously mistaken in their assessment of their prospects. It8217s a zero sum where your sum goes to zero. Your post itself is glib and cartoonish, but most of the comments here are worth the read, making my stay at this thread productive despite the inanity of your writing. Never liked your stuff and apparently, I still don8217t (was lured here by a twitter comment regarding the recent flood of anti-daytrading articles. What you said about eye trouble is just pathetic. Really. Get an editor, someone with a science background preferably. Linda Rachke would laugh all the way to the bank after reading the comment of this 8220looser8221. Adding to the loosing trade and eating doughnuts is gross. So if you loose 500K in one day, how many doughnuts is that 8211 one doughnut per 1K, or one doughnut per 10K. Let8217s say that8217s one doughnut per 10K of loss Man, eating 50 doughnuts a day put8217s you in a SUMO-wrestler category of trader. Sorry, but I can not take this article seriously. It8217s been fun to read the updated comments all week-end. James: i think you achieved your objective with your original post, if you were trying to bring out people8217s emotional response to your put-down of their passionate pursuit By evoking outlandish, stereotypical caricatures, you enabled traders to bring their own strong opinions to the table. Bravo Your portrait is of a 8220newbie8221- dumb money coming into the fray at the top of a bull market. Traders will continue to pour their energy amp effort into their craft, because at the bottom of it all, amp at the end of the day, the primal chase for riches amp for the thrill of 8220winning8221 is what drives traders. in my opinion, each successful trader spends a lifetime honing their skills: this is a pursuit where perfection is always elusive, change is the only constant, amp nobody has all the right answers all the time NEVER invest money you can8217t afford to lose Never invest the whole amount at once, that is called greed8230..thinking you will hit it big It8217s been tried before. Some will luck out, (as some do in slot machines) but the odds are against you. Your only hope (Roger), is to 8220try8221 to come up with enough money to try to recoup your losses with GOOD stocks. Get a 2nd job if you have to8230.hopefully, your young enough that you have a 2nd chance. The markets bottomed out a couple years ago, and that it when I decided to take the gamble, remembering Warren Buffetts words 8220Buy when everyone else is selling8221 This time, I bought good stocks8230 F, EMC, FLEX, yes8230I took a gamble and bought SIRI, but not after doing some serious DD. also bought other stocks that have now been sold..all at a profit, I doubled my with F, and kept trying to buy low priced, but good stocks8230right now, I am close to 80 profit on SIRI8230and going long. I hope you can recoup some of your losses, if not all. There is NOTHING more discouraging ( for lack of a better word), than to lose a large amount of money8230I know, I8217ve been there, but I have been fortunate enough to have re-invested with IRA8217s and bank accounts, and borderline divorce papers A good lesson learn was next time, don8217t be too hasty in buying stocks, especially penny stocks. Odds are you will be better off buying better stocks, at slightly higher prices8230this time, my timing was good8230got into F at just over a buck a share, dumped when it doubled, sold most of the others at a profit, and narrowed down my holdings to just a few (6) namely FLEX, SIRI, EMC, CVTI, COHU amp ERES. I still have one long shot, DFTC. OB8230 that may sting me, or make a turnaround. Hopefully, the turnaround in the markets since Jan.2009 will continue. Hope all your 8220moves8221 are profitable ones Interesting article and comments. I agree with most of what Trader Tim says, except the points James makes about the societal utility of the daytrader. I think it8217s a hallow rationale to say that daytrading makes you a part of society because you pay taxes on your gains and then spend your money to stimulate the economy. That8217s great, but that doesn8217t really speak to the relevence of what you are actually doing to earn the money. Anyone with a profession that makes them part of real society could also claim the same things, that they pay taxes and spend money. Then there8217s the classic 8220providing liquidity8221 rationale. Does anyone start daytrading with the goal that they are going to 8220provide liquidity8221 That8217s like saying that being a breathing human benefits the world8217s plantlife, because you are exhaling carbon dioxide used for photosynthesis. In reality, at it8217s best, daytrading for a living is no different than being a pro poker player (although some could argue they are in the entertainment business). You are just trying to get odds in your favor, and using sound money management. I have nothing against this, but please stop kidding yourselves with these weak defenses on why your relevent or necessary. Just admit that you are looking to make money, and that8217s it. There are plenty of people who enter professions for money as well, including doctors and engineers. Take away half the pay and 90 of them will disappear. I trade for the money. I don8217t have any illusions about it. But I will not feel bad about it either, nor let anyone try to make me feel bad. thank you for this article. The easy gains over the last month have stirred my day trading desires, but reading this reminded me that boring is better in the longer run. I have 10K to play with stocks, but no more than that. That gives me my fix without destroying my finances and consuming my 10-4. Andy, start to think of better ways you can enjoy that money. Can you buy a camera and editing equipment and learn how to be a photographer I8217m not suggesting that specifically but thats one example of how you can take 10k and better your life (and even return a multiple on the 10k) rather than just wasting it staring at a computer screen while trading. Here8217s just one more reason not to be a daytrader. This guy was my next door neighbor and schoolmate when I was a kid. Here8217s a link to news about him now, check it out. couleenewsarticles20100923news02koula. txt I tend to agree that while you can make money as a day trader, my experience (so far) is that if I would have left my good picks alone (80 of my stocks), I would be up big time. For example, I had 400 shares of AAPL at 60.00. If I would not have traded as soon as it went down on some bad news, I would have rode it to over 200 points (assuming I would have kept my head). It is true that AAPL dropped back down to 60.00 during the downturn around 2009, it quickly recovered and is now at 318.We8217re talking 100,000.00 without me having to have ever logged back on my computer This applies to many other 8216winners8217 that I traded in amp out of including IMAX 7.00 (now 23.00), MVL 17.00 (now at 50.00), NS 52.00 (now at 64.00 with a 7 dividend). Bottom line, buy companies you believe in that make money and leave them alone. Dividends can make a huge difference over time when you allow them to work for you and buyback more stock. I have a relative that bought 100 shares of BA years ago and they now own 900 shares and did absolutely nothing. James, Great writing on day trading. Loved it David. I wish I8217d read this article before leaving my career in late 2008 so that I could trade stocks and 8220make money on the downside8221, and I also wish that if I8217d read it back then, that I8217d have been wise enough to recognize it as true, take it to heart and act accordingly. I started day trading over 1.5 years ago out of necessity because savings interest rates and my pay check suck. My first year out, I made a 20 return. This year up till May 6th Flash Crash, my portfolio was up 43 for which I lost all my profits. Since, I8217ve managed to make back a 20 return. It8217s been a tough struggle trying to hold onto profits in this manic depressant market. Did I make mistakes, spent a few nights worrying and could have done it better Yes The lessons learned are as follows: Do one hour of homework for every stock owned eliminate greed and emotions (continual work in progress) buy stocks thinking about what you8217re willing to lose don8217t go all-in (keep cash reserves) have a goal for your profit and use good tools to make informed decisions, such as marketwatch, Yahoo Finance, Investors Business Daily, CNBC, ShareBuilder, etc. What a crazy ride it8217s been Someone mentioned that day trading is no different from sales or starting your own business. You8217re taking risk to make a profit. I think the difference is that most jobs provide a service (doctors, police) or create things (engineering, farming). Day trading is probably the only job (next to a small time gambler) that neither provides a service nor creates anything. have you tried drinking it doesnt stop the voices but it makes them happier. Dont entirely agree that there are only 2 ways to consistently make big money in the market. Trend followers have also pulled billions out of the markets over the years and William J. O8217Neil turned a few thousand into an estimated 2 billion trend following fundamental stocks (compunding over 40 p. a since the 608217s-about twice that of Buffett) without running a fund and even with significant funds in money market or bond accounts Wihtout any help from TARP or the FED James has been there for many years and raises important questions. The vehement reaction from many traders here speaks for itself in terms of how passionate many can be about this PROFESSION. The last word is particularly important: it is just arrogant corporate-speak to argue that trading is 8220no career8221 or that there is 8220nothing productive8221 in it. Having been in a long corporate career in banks and hedge funds before, I have had the privilege of seeing both sides of the fence. So, by what standards are the notorious corporate meetings, procedural routines and set of 8220rituals8221 more productive for society than somebody who risks capital on an ongoing basis. Do we define 8220productive8221 as having legions of highly expensive 8220executive corporals8221 to execute all these routines and then hire outside consultants to figure out 8220mission and values8221. Because if that is all there is to productivity, the army would also make an excellent candidate (and after all, the standard top-down Westpoint culture still seems to be by far the dominant reference model for organizations). As far as added value to society, don8217t we have enough corporate horror stories in this decade to question the standard politically-correct 8220get a job in a large and solid firm8221 clich. The problem that James 8211 and many in society 8211 seems to have with trading is rather that risk-taking is one of the basic forms of freedoms and as such is associated with responsibility. Many simply have a problem with the notion of thousands of individuals who cannot be easily controlled and who 8211 by the way 8211 can vote with their capital every day on what government does. Sure, it would be far simpler to have society organized with just 8220proper8221 corporate types in respectable and controllable jobs, we have already seen this movie in Eastern Europe for some 70 years. But the basic issue remains: who takes risk. While it is possible that the current societal crusade against risk-taking in major Western countries might be 8220successful8221, the flow of capital towards emerging markets that are not held hostage of academics, politicians and lawyers is a fact that speaks for itself. The consequences in terms of jobs and opportunity will not be far behind. All that said, professional traders know full well how extreme the application of Pareto8217s law is in the business. It is said that there are many bold traders, some old traders and very few old bold traders. Just surviving in this industry will put to the test even the most passionate trader. Yes, probabilities are stacked against one, but this does not mean that it is impossible. So your argument is that one might as well just be a trader, since it8217s not possible to add value to society anyway Ah, ok. Maybe expand your range of thought slightly How about being a teacher, doctor, or engineer Build something or provide a useful service. And that people are just angry that they can8217t have control over traders8230because they are martars for going out and risking their own money every day That8217s hilarious. You seem to confuse taking risk with adding value. You8217re taking risk, sure, but both the downside and upside of that only effect you. As opposed to say, a fireman, who takes risk to benefit someone else. Trading is a closed system. You are taking more from society than giving back to it by benefitting from the productivity of others while not bringing anything back to the table. I8217m not saying that no one should ever trade. Go ahead and trade, you have a right to do what you want8230just admit that you aren8217t a part of real society, and on balance, subtract value from the system. Seeing the answers from some people above makes me think this even more, based on how weak the rationales are. I was hoping someone could really form a stronger argument. As I wrote above, traders help correctly price assets. Why is this important Take a look at AXPW 8211 extremely promising battery technology on the cusp of major design wins. It could help reduce energy needs and all that good stuff. But they had to raise capital in 2009 and again in 2012 by selling stock at about HALF their current stock price Why, because the lack of traders meant that whoever invested big in this company was stuck. Thus they demanded a steep discount. Wouldn8217t it be nice if the company could have raised money at a premium instead, and help this technology change the world I agree with every point except the last. I8217ve been day trading for 11 years and have averaged close to one million in profits per year. The problem is I can8217t find a career that I like and pays at least 14 as much. Until then I8217ll have to stick to with my suicidal, unproductive, obese hermit lifestyle. Sorry, I have more important issues than picking arguments. Nowhere did I ever state that trading is the ONLY profession that adds value to society, that would be plainly absurd. The fact that you seem to have a real problem with trading, however, grants you no right to dispute others8217chosen path, be it trading or anything else, let alone insult them. If insurers assume risks and get paid for it, does anybody argue that 8220on balance they subtract value from the system8221. So, if traders assume risks that others shed and bring liquidity and diversity of opinion (and, by the way, a mechanism to keep politicians8217fantasies in check) to the table, why should it be any different. Or does it add more value to society to have Fed - and taxpayer-bankrolled risks only. James, I agree 100 with what you are saying. Looking at the previous 48 responses, there are not many that agree with you or I. However, this is a biased dataset 8211 those that tried daytrading and lost have moved on, and are not readingcommenting on articles like this anymore. Those commenting are most likely 1)daytrading companies, 2)those who are losing money but have not yet given up, 3)a few that may actually be making money, but at an unacceptable level of risk. I know what I am talking about 8211 I was in the trenches like you for 8 years, and have experienced every struggle you mention. The first investing book I read said that 8220out of 1000 option trading clients at my friends brokerage, not one ever made money consistently8221. I went immediately into denial mode and tried for years to prove this statement wrong, with options, stocks, futures, you name it, but couldn8217t do it. I am currently trying to at least use what I learned in all those years, and will soon be completing my Phd in Finance. Don8217t get discouraged by the responses, if you keep just one person from wasting several years and many thousands of dollars day trading, it will be worth it. (NOTE: Not to say all investing is bad or that the subject of Finance is bad. Because of our productive society, in the long run investing is a positive sum game. But in the short run it is a zero sum game 8211 actually, less than zero, because of commissions, etc). PS 8211 I used to read your columns back in 2004, 2005, or so, and enjoyed your insight. i think some of what you said is true. however, most of it exemplifies opportunity cost. any job, or bread making activity if you wish, has pluses and minuses. daytrading is a liberal occupation. like a dentist, let8217s say. it is what you make of it. you can choose to meet people from the market, manage money for others as well, or just keep to yourself. the key word is freedom. some just don8217t know what to do with it. the daytrading8217s sole purpose is to make money for the individual. thus, the direct benefits for society are limited. i do believe that the overall effect of daytraders across the world is large, and probably positive. a single daytrader is not important, but think of us as a swarm of bees. let8217s not forget the indirect effect of daytrading: money. that money will be spent in many creative ways by an overemotional and mentally overworked trader. marc, 95 of traders dont make money. its not easy, its a very competitive sport. in failure lies success. i agree that people need to be aware of the difficulty of making money by trading (medium and long term trading, just as difficult, if not more so than daytrading.) but i don8217t agree that people should be prevented from trying to trade. each to hisher own. daytrading is zero sum game for whom how can trading be negative sum game in the short term, then become positive after a certain time isn8217t the long term made of short terms 8220Every second you sit there watching a trade you are removing yourself further and further from any notion of a career since daytrading is not a career. 8221 I would gladly give back all the money I made day trading for the hours wasted watching a ticker. Granted, since the money I lost on every fifth trade ate the profits of the 3 of the 4 prior, my net gain was not a huge sum of money, but it would be a huge amount of time wasted that I would recoup. Honestly this sounds like a post from some one who tried day trading and crashed and burned and is a little bit bitter about it. I know many people (most of them close family friends) who day trade and make a substantial living from it. Through perseverance and dedication they made it work for them, so much so that they were able to retire early than most and thus able to have more time for family and friends. You mentioned suicide, the only reason anyone would consider this is because they relied on day trading as a 8220last resort8221 so to speak. Anybody doing this is going to get bitten, but for those that have made it their career, have weighed the pros and cons, obviously have got a balance of them in place to the extent that they are confident to do it for the rest of their lives. Suicide is a strong word to throw around and if it ever gets like that for you then obviously you8217re in the wrong proffesion. As for overeating, that is just complete rubbish, who is to say that every single day trader is obese, this is a major generalisation and one that I think is stated with absolutely no evidence (apart from your own maybe, but that8217s you and maybe you should take up gym or a sport) to speak of. As for your eyes going bad, there is some sense in that, seeing as staring at computer screens has been scrutinised by scientists and the sort for a long time now but there are methods to prevent this and if you are serious about day trading and understand that staring at a computer screen for multiple hours is necessary, then you would take this into account and put forward remedies to help with the strain on your eyes. Social life is social life, business life is business life, and if you can8217t separate the two then you aren8217t cut out for this field Trading must be seen as a business. If losing 500,000 or so of a clients money will deter you from having a normal social life then trading isn8217t for you. In anycase, if you were hired to increase the net worth of other people then you should be able to handle if not prevent a 500,000 dollar loss, because let8217s face it, people wouldn8217t hire you otherwise. A hightened blood pressure is different for each person. If you can 8220feel blood pumping through your entire body8221 then obviously you have taken a trade that you do not know how to handle or control, it should be unemotional, like I8217ve said before, it should be seen as a business and nothing personal, and all business decisions should be executed with confidence and substantial evidence and backing to do so. If you 8220feel your blood pumping through your entire body8221 with a losing trade, then you have the wrong mindset. With regards to the 8220unfortunate, overeating, suicidal, bastard on the other side of your trade8221 that comes with the teritory. Every action has a reaction and if you are smart enough to capitalise on those opportunities that you can make a few thousand dollars off those people then so be it, they got in this game for the same reason you did, to make money, and you trying to 8220help8221 them is only going to be counterproductive. I8217m no sadist, but trading is a game of intellect and research, and if yours is superior than another person then you definitley should not feel bad about it seeing as you8217ve put time and effort behind each of your trades. You aren8217t gambling, each trade has been executed for a reason. With regrards to your statement of 8220no career8221 I couldn8217t agree less. You say that one is removed from the world and I can not understand how you see this. Take currency trading for example, in order for you to make the 8220best8221 trade possible, you have to take into account a number of factors, including technical and fundamental. The canadian dollar is well renound for being a commodities currency seeing as it exports many commodities. In order for you to make the best trade you can, you need to understand how commodities work which involves a huge aspect of the social and business sector. Saying that there is no career in trading and it causes you to be a 8220social recluse8221 is completely short sighted. Impossible. Vraiment. Tell that to the all the people I know that have succeded and lived happy and fulfilling lives from trading. You even said it yourself, 8220In the long run it is possible to make money daytrading8221, I8217m not quoting this to prove that in the long run you can make money, becuase I know that once a person has a set of rules and a solid strategy they can be successful. I8217m quoting that because it goes against everything you mentioned in your post. Why mention all these negative aspects of trading only to, at the end of your post, conclude that it is possible to make money. In conclusion, and this pissed me off the most, you do not know who I am (or anybody else for that matter) so please don8217t tell me what qualities I do and don8217t possess This is so well written there is very little to add. As a day trader your overall results are dependent on your research, backtesting, discipline in adhering to your system, and emotional detachment. Of course there will be losses, but with a properly designed system you can take them in stride and look forward to the next trade. Of course there are valid systems that hold overnight but you are subject to a lot more uncontrolled variables including overnight gaps and overall market fluctuations. I like being done at the end of the day, win or lose. agree. especailly when he says things such as, i8217ve talked 10 people of the ledge and have been talked off myself. (paraphrase too lazy to lookup the exact words of that dumbass). Well maybe ranting and raving about daytrading is his way of venting so he doesn8217t go off the ledge lol I think the author was just trying to be funny not serious. You on the other hand are cumbersome boring and missed the point by say the entire Atlantic ocean. In a word aaaaaaannnhhhhhh FAiL If the author is trying to be humorous, then why has he so seriously thrown around the word suicide what a garbage comment to be so high on the board here for so long. you think this is a humor piece now. you obviously have zero experience. 8220If losing 500,000 or so of a clients money will deter you from having a normal social life then trading isnt for you.8221 Nor is investing my money either there is nothing glamorous about daytrading. it is hard work. it is humbling. it is lonely. I do it to become more financially independent and I am very cautious. I make small trades all day long and bank the coin. I don8217t spend it. I want to be able to attain financial security 8211 not needing to throw caution to the wind for the big score since I won8217t risk capital. I just want to make the money a bit faster than buying dividend payers or the slow large cap growth stocks. I don8217t short, play options, or play breakout or momo stocks. Like i said I am CONSERVATIVE. my website 8211 all explained For most investors, there really is only one way to make real life changing returns 8212 the Warren Buffett way. Daytrading is useless and long term unprofitable endeavor. If you have to daytrade to 8220make a living8221, you8217re standing on very shaking grounds. I have only heard of a handful of strict daytraders that were long term successful, and that was before the carnage of 2008. If you8217re successfully making less than 100k a year trading, it is better to take a job. At least you get health insurance and pension. Remember opportunity costs when you daytrade 8212 you8217re losing all the job benefits (i. e. government jobs nowadays have lots of benefits.) Your wife and family and kids will respect you more for it. Nobody likes a lazy bum that makes money from trying to take money from other people (assuming you can successfully daytrade). Day trading is hard work. Not physical work but mental work. It takes nerves of steel and the ability to devote many hours to reading and analizing information. You have to have a plan and stick to it. Also you have to be very flexible in how you trade using options to not only protect but to make extra profits. If you trade even part time you still will need to spend at least 6 hours a day reading. This is not for those who scare easily or have emotional problems. And the most important thing is that this is not a get rich quick way of making money. Ha ha what I have been saying all along, day traders are pathetic losers amp morons minus any education or a high school diploma. They really need help. They should become a waiter, busboy cab driver etc. To that second comment in reply: I8217ve seen a lot of day traders who8217ll be glad to tell the story about how they made 113k in 4 days or whatever. Whoopee for them. They don8217t brag about the time they lost 113k in 4 days though. And don8217t forget Uncle Sam gets 13 of whatever profit you eke out. What I haven8217t ever seen is any day trader who is willing to open his account to show me every transaction made over the last 10 years and let me calculate their after tax return on capital. Wonder why that is This is so true that I8217m also very suspicious of whatever profits people tell me about. What counts is the net balance on your account. This is so true that I8217m also very suspicious of whatever profits people tell me about. What counts is the net balance on your account. I know what you are talking about, I tried to daytrade as a profession for some month but had to discover that I am not able to make money with daytrading (sometimes you think it works and you win 100 000 but you have to give it back over the next periods). I assume there might be some guys who have success in daytrading. Anyhow I am a fulltime professional trader 8211 but I changed to strategy trading ONLY. I stopped loosing money daytrading. This gives you more time to do something productive and increase your knowledge whille your strategy is trading for you. But it was a long way to develop successfull strategies. wow i find it hard to believe that you traded for other people with such a lousy mindset. i think this is good advice for a lot of people, but you should be fair and tell people they have to figure out a good strat AND have a proper mindset to beat daytrading. if you gonna freak out about every loss, just dont do it I added my view of the 8 reasons as well as 5 of my own: Great post James and equally great comments by readers. Exactly what a blog should be. Now how can a good writer benefit financially from good blogging (not including ad revenue) I actually did that for a while. I am a programmer with a Master in Software Engineering and a concentration in artificial intelligence. I created evolutionary algorithms that fined tuned technical analysis signals to enter, exit and set limits on trades. I trained the algorithms on years of data and tested training on other sets of data. The algorithms worked great, but every time the algorithms lost money (which was 4 out 5 trades when you included commissions) I will loose faith in the algorithm that I developed and knew by heart and started just selling when I felt like it, which lead to staying in losing trades too long and selling wining trades to early. After 6 months of this I was unhappy and thankfully even money wise. I just went back to develop actual useful software. I tried it, what a pain. I have been holding some trades for a day or two, some for a weeks, some a bit more. some I will keep for years. I do well enough to pay the bills, take the wife to dinner and put some away. This way I can go on vacation when I want and don8217t feel like I8217m missing some million dollar deal What about automated day trading Let a computer program trade your strategy for you so you can go do something else. People, people, people. Altucher is a smart, smartassed guy with a fairly well developed sense of his own weaknesses and strengths. And he8217s (I think) a fairly entertaining writer. He specializes in making us think about stuff, in an area he obviously knows something about, by saying things that are a. Funny, b. Absurd, c. Outrageous. or d. All of the above. When he sticks his tongue firmly in his cheek and writes one of his 822010 reasons not to 8221 lists, he8217s merely passing on the idea that none of us should take ourselves too seriously, and we should never forget that failure IS an option in life. But as long as we keep our heads, we8217ll survive. The best reason not to daytrade is the random nature of the stock market. You can8217t reliably predict random outcomes. No, it is not really random, the best reason not to daytrade is that it is worthless. Traders have exactly the same value as professional poker players8211 zero. Even bankers are more useful to society. As an investor, I 8220loan8221 money to companies which make a good product, these companies then use that money to hire more people, build infrastructure, make more good product, and make profits, of which I get a share. So in some small way I contribute. Also, I have three stocks that I have held for gains over 1500. -) Traders just gainlose money fromto other traders, and breathe air that would more productively used by burger flippers at McD. Traders help the market find a close to correct price, so that bankers and investors can help companies raise money to do all that good stuff you say. Otherwise, low liquidity, volatility, and lack of pricing metrics cause companies to get ripped off in capital raises. Traders keep the market healthy and they are paid for their risk. They might not be the most productive members of society but they are definitely not zero or negative 8211 unless they are manipulators. keyword 8220self-destructive8221 part of our human nature. Irony is that once we train this tendency out from our trading, we still have it simply because we have the ego to think that being one of 8220them8221 means anything. I day trade, swing trade, and have long positions, in my opinion, thats the only sane way to do it, trading around your core positions which you hold long term. Much of my day trading has been counter productive, the swing trades are better, and the long position the best, and thats after 9 years of slugging it out. Day trading alone is foolish, find an undervalued asset, buy a core, and then trade around it. From my perspective, you need skin in the game to stay on top of things. Trading every day is for poor people. Think, if you had 10 million dollars, would you sit in front of a computer monitor all day trading in and out of shares just to make a thousand bucks To say there isn8217t great opportunities that happen in just a day would be silly talk, but if you are seeing mirages, you will over trade yourself into the cemetery. Ride the coattails of the big money, you big dummy, and shit, sometimes it happens all in one day. If you had 10 mil though, the last thing you would want to be is flat at the market close each day. Moves last weeks, months, years. Why would you sabotage yourself Now rename 8220Daytrading8221 word in this article to 8220business8221 word or concrete business name. In daytrading only 5 of traders are profitable. The same statistics is anywhere. 95 of businesses goes to bankruptcy. This is the best article about day trading. I wish I had read it before starting day trading. I think I would have never wasted so much of time and money. There are no chances for common person to make money in day trading and even by investing in stock market. At the end he would be looser. It8217s better to do something else rather predicting something that is manipulated. usually the problem is that day traders don8217t learn risk and money management and thus burn through capital and confidence before they8217ve had the chance to learn, Takes time, like any lucrative, competitive profession, you need to approach it like a business and askanswer all the questions you would if you were writing a business plan, discuss this issue at some length in my book, The Sensible Guide To Forex, because most newbie Forex traders attempt to daytrade currencies before they know enough or have been profitable on practice accounts 8211 with predictably grisly results. James you definitely missed your calling buddy. While I suspect you could make a living writing, you absolutely could be a comedian cause I8217m LMAO right now and this so long after the original post. It8217s 5050 all day everyday. It8217s either going up or going down from where you pulled the trigger and it sure feels like losing most of the time but you gotta get out of those losers faster than you got in and let those winners run. Good luck to all 100 truth8230this is a word to the wise8230don8217t do it. You sound like the market slapped you and you responded with it by being bitter. Sorry for failing to be a consistently profitable trader. As for me, it took me almost three years to get there. Now I8217m enjoying the fruits of my labor. Latest Podcast EpisodeInvented homework Invented homework - order If you need a brilliant idea of essay writing, without compromising my morals, thank you for the great customer support you. Homework identifies secondary or primary school assignments and not college coursework. 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