|For those New to Trading, With Smaller Acc'ts, Wondering if they can turn thier meager|
holdings into a full fledged day trading Wizards account.
Oh, the lure of quick success, that desire to be known for you trading skill. Always lurking
message boards, waiting for the Holy Grail posting that gives you that secret edge. Ah, to
be young again and feel that fire inside.
So, Here's the question you all want answered,
Can I, (in this case meaning you the reader), Can I take this small amount of money in my
trading account and really have a chance at turning it into a 25,000.00 + DayTrading
account? The answer is, Yes you Can, but the important question you must ask is,
How can I accomplish that? The answer to that question takes a little more time to give
you as there is No Holy Grail posting going to give you that Secret you so desire.
I will however give you some insight in how you can get well on your way to success.
I will start out with what I know you do not want to hear, It Takes Work and Committment.
I know, you're thinking, Oh Man, that is the answer I always get. Well that is the honest
answer. Can luck play a part in a traders success? Absolutely, If you started your trading
in let say 1997 and rode the huge tech bubble into the stratosphere then I would certainly
consider those traders lucky, at least in thier timing in life.
Also for those that recently began trading in April of 09, timing (luck) of entering the
market has been on thier side also. In the recent down turn, many of those (lucky)
new traders that have had such confidence in thier ability will now find out that you need
to learn to trade both sides of a market if you are to be successful.
I can hear you already, saying, "I only have a small cash account, I am not allowed
to short stocks without a margin acc;t. I hear you but there is a solution to that also.
The answer to that in Inverse (short bias) ETF;s, but more about that in another post.
The point of this post is to not only give you hope, but give you a start in the right
direction. I said it could be done, but with hard work and commitment. And It can. The
first thing you need to do, is to stop being a lurker. Stop being afraid to ask for some help.
We all started somewhere. I want you to start asking questions to the posters here at
the lion. Don't do it durning trading hours as most are very busy then. Wait till the end
of the trading day or on the weekends. Many traders who don't have other plans will stop
in and I would be willing to bet that you could get answers to any questions you ever had.
There are many financial sites with a lot of information such as Yahoo Finance to name
just one. Try and find your answers on your own, but when you are stuck, Ask in the forum.
I personally will try and answer you. There are many here with much greater trading
knowledge than I have but I will be posting a series of blogs in my forum, Shadow Island
in order to help you find the answers you are looking for.
Why do I care? I was one of you. Did I succeed? Yes, I turned a very small acc't into
a direct access platform loaded day trading account. Did I get in during those 2 lucky times
I spoke about? No I started trading on the downside of the tech bubble mountain you see
on your long term charts. Can I help you do it? Once again, that is really up to you. If you
are willing to read, check out suggested sites, learn what to look for at those sites, watch
an endless list of training videos, and commit yourself to success, then Yes, I firmly belive
you will do it? Don't expect it to be quick or overnite. I belive people make thier own luck.
Be informed, don't ever follow into a trade just because some great guru at the lion says
so. Learn to check out what they say and how to do that. Then your dreams really can
come true. And the last thing, is, to never, and I mean Never give up.
I will post some links to training videos and other sources of learning and information in
the Shadow Island forum. When you have a question, ask it in the Wall street Pit first.
There are very knowledgable traders there who I am sure can help you, but if you can't get
an answer, ask me and I will try and help you. So Lets get started.
I have started a Forum, SHADOW ISLAND. Feel free to stop by and read about news and info you won't get from the main stream media. We trade ETF;s Gold and silver miners and small caps including otcbb, nyse, nasdaq, amex, Under 10.00 per share. Rules not firm. This is still America and we believe in freedom of
speech. No cursing please. http://www.thelion.com/bin/forum.cgi?tf=shadow_island