Make Pocket Money From the Markets?

[glyder]

Playing devils advocate for the moment, none of the "perks" of trading are really perks at all - for me anyway.

1. The perk of being able to work from home and be your own boss

I find working from home lonely and depressing. Yes you are free to get up at 10am if you want and if you do you probably missed a move which will cost you later. Yes you are free to go for a 2 hour coffee break if you want. It's really fun sitting in Starbucks on your own. I know. I do it every day. Being my own boss doesn't compensate me for having no one to see since all my mates are in a 9-5. Plus, when you f*ck up - you don't have a boss to b*tch about. You have to take all the responsibility yourself. Hence you better get used to the headache of constant beratement and thinking/analysing your own mistakes.
.

Tom,
I'm sure a time will come when you will appreciate the freedoms trading gives.

 

[ilir.shkurti]

I have had trades that have resulted in $200 in the course of 5 minutes, which yields an hourly rate of $2,400. Thing is, I usually have about five to ten such minutes on a good day, worth $2,400/hour rate. Accounting for trading activity must be objective and has an element of forecasting to it. There will be hours with a negative hourly rate as well...

 

[D70]

there are plenty of traders using a garage,free demo accounts /feeds ,a laptop costing #400 gbp and a pre existing adsl service.it is expensive getting to that stage where only basic equipment is required to trade .

If a trader trades many markets,as many as 6 to 10 , 60 inch screens can be used by some traders ,along with several back up computers and adsl services.

Some of us are already on 6 computers and screens. for serious trading in 6 figures.

O d t.

WAhahahahaha

 

[oildaytrader]

WAhahahahaha

?

U S stock markets,energy markets, currencies, commodities , European stock markets ,automated workstations, semi automated work stations,testing stations,

 

[theSheik]

12 quid a day...a micro-lot account...100 quid to start the account...1 hour a day infront of the screens...a forex mega droid...6 cans of special-brew...20 cigs...3 microwavable meals costing a pound each...ipod with good tunes on...


Wot more would a person want out of life?

selling the big issue?

 

[LostPigeonCoo]

If you can make £12 on the majority of days (no matter how many hours it takes you) and your losing days don't set you back more than a whopping £4 - £6, you should get very, very excited.

Scale it up. You're going to be very rich.

On reflection though, I'm not sure if that is what you are asking. If you are just asking would someone work if £12 was the most they could make...the answer for me and I imagine most people, would be emphatically no!

In fact, if the wages were the same, I would probably rather work in MacDonalds than trading. As much as I love the game for the game, the money is the major perk for me more so than all the other reasons that are touted by people trying to get you into this game.

Playing devils advocate for the moment, none of the "perks" of trading are really perks at all - for me anyway.

Thanks for your post and everyone else, I have known traders making about £12 in the markets years ago when commissions etc was high, they loved it, my point is that you advance from that level making better gains, question for everyone can they wait untill they start making a decent living, making £12 a day ish is better than losing, i used £12 as a exsample, as it could vary, no one can make that much every single day, it would vary.
It take a lot of commitment to wait.

 

[oildaytrader]

Would you say you earn Pocket money from trading the Markets? is it worth your while if you can only make £50 a day?
Do you still prefer trading from home earning as much if you was at work?
What if you only earned about £12 a day' trading? would you still stick to trading?

If I earned 12 a day I would keep going,only if I was sure I could consistently make 1200 a day on average .If I was not sure I would keep going until I saw no future in trading.

 

[mb325]

What has pip count or £ count got to do with anything? Surely its all about return on equity?

If i had a £100 account and traded with proper MM and made £12 a day consistently I would be ecstatic. I'd go work at Macdonalds for a year, save my 10k, then make £1200/day and compound 12% a day for the rest of my life (ignoring the psychological stuff, we all know about that).

If i was making £12/day on a 10k account i think i'd have to think twice about whether i'm cut out for this...

 

[james_smart]

I am in learning process in forex trading. I have a forex demo account and quite comfortable there. But I still in search of a good and believable forex site to join and earn from forex trading. I have only $150 to start. Can I make just $10 profit each day? Pl. guide me.

 

[D70]

I am in learning process in forex trading. I have a forex demo account and quite comfortable there. But I still in search of a good and believable forex site to join and earn from forex trading. I have only $150 to start. Can I make just $10 profit each day? Pl. guide me.

$10 a day on $150 is 6% a day..... obviously this is not possible.
But keep learning and put all of this down to experience. You wont find any site that earns your money trading forex (but please prove me wrong).

 

[ilir.shkurti]

I'd go work at Macdonalds for a year, save my 10k, then make £1200/day and compound 12% a day for the rest of my life (ignoring the psychological stuff, we all know about that).

If i was making £12/day on a 10k account i think i'd have to think twice about whether i'm cut out for this...

It is the hardest thing to ignore the psychological 'stuff.' You get there, my friend, and you are a professional trader. You can make 12 or 12k quid a day soon enough. But that psychological mountain is a hard one to cross.

 

[mb325]

It is the hardest thing to ignore the psychological 'stuff.' You get there, my friend, and you are a professional trader. You can make 12 or 12k quid a day soon enough. But that psychological mountain is a hard one to cross.

Please don't patronise me, I said 'ignoring the psychological stuff' purely for the sake of the example, not because I think it has little or no effect.

 

[ilir.shkurti]

Please don't patronise me, I said 'ignoring the psychological stuff' purely for the sake of the example, not because I think it has little or no effect.

You must be referring to my use of 'my friend,' for which I apologize if it felt like patronizing. The rest of the post was meant as a courteous observation of a fact. You see, it is hard letting go of the emotional and psychological, not only in trading.

Cheers and much success!

Ilir

 

[Lawrie7062]

I'm in a fortunate/unfortunate position in that I have been medically retired on the basis that I have had cancer 9 times. This means that my pension and my wifes salary cover our essentials (mortgage etc) and anything I make is beer tokens for the weekend so i'm quite content if I am making £10 per day from trading. My only problem is that I am still very much a novice and still trying to find my way of making £10 per day.

Any advice or suggestions are most appreciated.

Sorry if this is a thread hijack.

Thanks

 

[ilir.shkurti]

I'm in a fortunate/unfortunate position in that I have been medically retired on the basis that I have had cancer 9 times. This means that my pension and my wifes salary cover our essentials (mortgage etc) and anything I make is beer tokens for the weekend so i'm quite content if I am making £10 per day from trading. My only problem is that I am still very much a novice and still trying to find my way of making £10 per day.

Any advice or suggestions are most appreciated.

Sorry if this is a thread hijack.

Thanks

Sorry to hear your medical mishaps, but I gotta say you are quite a survivor.

In the link below I have info on the way I trade. While definitely not available on a beer token budget, it may give you a basis for papertrading. Then, a few months down the line, if you can spare $1,000 - $5,000 you may jump in and make something around your target with moderated risk. The thread is: http://www.trade2win.com/boards/futures/81688-trading-gaps.html

 

[Lawrie7062]

Sorry to hear your medical mishaps, but I gotta say you are quite a survivor.

In the link below I have info on the way I trade. While definitely not available on a beer token budget, it may give you a basis for papertrading. Then, a few months down the line, if you can spare $1,000 - $5,000 you may jump in and make something around your target with moderated risk. The thread is: http://www.trade2win.com/boards/futures/81688-trading-gaps.html

Thank you for the reply. As I say, it really is appreciated. $1000 isn't a problem (JN Financial lost my £5k within 2 weeks that I "invested" earlier this year). I'll have a closer look over your link a bit later and take it on board and see if I can put it into practice.

Thanks again for your reply.

 

[Omoh101]

This may also be of interest - http://www.trade2win.com/boards/us-s...g-markets.html
I personally don't drink beer so I will need to make more than £10 a day!