Is Trading Stocks/Forex A Viable Home Business

Discussion in 'General Advice' started by residualcash, Dec 15, 2009.

  1. timbonderud

    timbonderud New Member

    residualcash
    I traded for a couple years, but the most successful i have ever had was internet marketing, espiecially when you have good direction on where to start, and make sure you have a pasiion for what you are engaged in, this is the difference between success and failure.
  2. dougster77

    dougster77 New Member

    I daytrade as part of my online income. Some general but very important rules to follow:

    1. Always have a stop loss order on every stock to limit the downside.
    2. Always find the cheapest discount broker to reduce fees(sogotrade.com - $3/trade)
    3. Never buy penny stocks since most end up worthless
    4. Trade stocks in the $5-$25 a share range since they are easier to buy in quantity.
    5. Buy stocks that have had recent bad news that will go away in the near future(stocks that drop 20% or more in a day can be great investments in a few short days)

    These are just some tips that can help you avoid losses and trade more successfully. Hope this helps.
  3. WhoIsBenjamin

    WhoIsBenjamin New Member

    I traded forex markets successfully for a few months before
    I made the choice to stop.

    Why? It's just not my cup of tea.

    Hated sitting in front of the computer waiting for signals that
    would many times not come.

    Luckily, my discipline was strong enough to weather those
    times and not get to antsy to where I pulled the trigger to
    early...and only pull the triger when I was confident in the
    direction of the trade.

    But it was boring as hell, and I'm not much of a "numbers"
    guy despite my success in doing it.

    I LOVE real estate and marketing though. But it's all just a
    personal preference. Other than that, Forex has been good
    to me [​IMG]
  4. flexiblework

    flexiblework New Member

    Well, I for one will have to stay away from this for now. Tried it years ago, lost some money, have not tried it since. Can't afford to to be loosing money right now!!
  5. GTOptions

    GTOptions New Member

    Forex Trading if done properly while having a thorough knowledge of it would be really beneficial, but lack of knowledge will not gain you but you'll be stuck for nothing. There's lot of risk if one doesn't know what to do.

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