I wish to learn to be a full-time day trader, mainly playing intra-day and contra trades, aiming to achieve net (i.e. after deducting all transaction costs) returns of 1-2% per trading day, trading mainly by reference to price trends.

Do you think that such returns are achievable? Of course there would be some days in the red lar, what I meant was smoothed, averaged return of 1-2% per trading day.

Pls dun flame me, I'm serious. I hope to get some constructive advice and criticism here.

Thank you.

If you want to earn extra money , instead of doing day trade, you might want to consider night trade in US markets.

Check the US investment thread to see for yourself.

Quite a number of our ex foumers are busy in US investments.

Again, there is no fail proof investment.

Risk is still everywhere.

Good luck.

This post has been edited by SKY 1809: Mar 31 2010, 07:44 PM

What is the rationale behind your suggestion? Care to elaborate?

US markets are quite predictable in the sense if you predict the info right, you will be rewarded handsomely.

You need to be familiar with the future reports such as employment reports and so on.

And the leader , DMC is doing a fairly good job to predict these data.

Just follow him closely, your chance of winning is better.

Coincidentally I've just found out about this Manga, 'Death Metal City' a.k.a. DMC.

Thanks for the suggestion, but at this stage I feel somewhat insecure to invest myself in a country where I've never been to, can't see the people on the streets to judge sentiment, and so on.

Malaysian market really that bad to be a day trader?

I do not know what to say about you.

Those foumers long enough in the lowyat forums would give due respect to DMC.

You start to pass judgment before you get to know him.

This post has been edited by SKY 1809: Mar 31 2010, 11:21 PM

What pass judgement? I was only talking of the coincidence that his acronym is same as the Manga that I'm interested in. Dun say you got prejudice me...

In investment the best way is be your own self. People can give you recommendation but you have to make your own judgement . Don try to be someone. Be yourself!!!!

You must have your own principal.

LOL. Death Metal City!

Off-topic already.

Jokes aside, dont confuse SKY 1809. He is one of those who are willing to help beginners.
U dont want to spoil his mood.

On US Stocks market, u can try Options trading. Its cheaper.

This post has been edited by kamemada: Mar 31 2010, 09:22 PM

I think SKY means the Danmooncake fella, whose night job allows him to monitor the US market.

I'm not sure how effective day trading is if only in the Malaysian market, the liquidity just isn't there.

first day make RM1000
second day make RM1500
third day lossing RM3000
fourth day make RM500
fifth day lossing RM1000

nett profit/losses of the week: -RM1000

worth the risk ka?

not inclusive of your health condition, whether your heart can take it, your concentration in work, your mood swings when it comes down, etc.

play safe, go for long term, you get to live longer as well

After get rich, can hire best doctor to cure...
My personal opinion, not so easy to get into what you desire, Datin Pana's view is similar to my, but I trade and invest mix mix..

80/20 stratergy if you want a mixture / balanced portfolio

80% long term
20% short to mid term

atleast if you burn your fingers, the max you lost is only the 20%.

you still have a safe mountain behind you.

this method my papa taught me one

Yes I agree.

Day trades mainly suitable for professionals like you.

The new babies , I am afraid could be eaten alive by sharks, tigers or lions , or whatever you intend to call.

Big fish eating smaller fish is still a very common practice.

No harm to try also, so long you feel comfortable with it.

Best is to learn from our past mistakes, though money is involved.

Again, what price you are willing to pay for.

This post has been edited by SKY 1809: Mar 31 2010, 10:17 PM

The more times you buy and sell a stock - any stock - the more you multiply your chances of making mistakes. Day Trading needs you to buy and sell within a short time-frame so it is a certainty that your error rate will get higher the more you trade.

Recipe for disaster and a quick trip to the poor house IMHO......

Bang, you reply to me leh... you not talking to me, right? I manyak kiasi one, some more always mati first...

Yes I agree with you.

A couple of months ago, I attended a very sleepy seminar.

But one thing I manage to know is the best fund managers in US got their probability right at round 57%.

And they have to go extra long term to gain 57% mark.

So it is quite pointless to try to beat this benchmark.

There are a few that able to do so, but not all.

This post has been edited by SKY 1809: Mar 31 2010, 10:23 PM

I'm surprised the percentage is so high TBH....
Over the years I have come across many people who have tried day or short-term trading. Mostly they are people who are very unhappy in their jobs, feel under-valued and who over-value their own abilities.

Never seen anyone who was able to make day-trading a long-term career.....

Good luck to anyone who tries....



This post has been edited by David_Brent: Mar 31 2010, 10:35 PM

Same here, think stock might be hard to make a living by day trade, currency more preditable... but I don't know how to do that

imho, traders depends on luck more than skills.. i would say 70% of luck and 30 of hardwork+concentration+discipline+strong heart!!

i agree wif david, where the more u trade, higher % of making mistake.

GREED is the biggest your rival! the more you earn profit from the market, the more and more u want.. u'll end up killing urself..