Preis Decken und Fußböden 13 Preisdecken Wenn die Preisobergrenze über dem Marktpreis liegt, gibt es keine direkte Wirkung. Wird die Preisobergrenze unter den Marktpreis gesetzt, so wird ein Mangel geschaffen, da die geforderte Menge die gelieferte Menge übersteigt. Der Mangel kann in vielerlei Hinsicht gelöst werden. Eine Möglichkeit ist Warteschlange Menschen müssen in der Schlange für das Produkt warten, und nur diejenigen bereit sind, in der Schlange warten für das Produkt tatsächlich bekommen. Sellers können das Produkt nur für Familie und Freunde, oder die bereit zu zahlen extra unter dem Tisch. Ein weiterer Effekt kann sein, dass Verkäufer wird die Qualität der guten verkauft. Schwarze Märkte werden durch Preisobergrenzen geschaffen. 13 Abbildung 3.6: Effekt der Preisobergrenzen 13 Abbildung 3.6 veranschaulicht den Mangel, der auftritt, wenn eine Preisobergrenze für die Lieferanten festgelegt wird. Die Verbraucher verlangen Q D, während die Lieferanten nur bereit sind, Q S zu liefern. Wenn die Preisobergrenze über dem Gleichgewicht liegt, würden die Verbraucher eine geringere Menge fordern, als die Lieferanten produzieren. 13 Wirtschaftlichkeit: Schwarz Vs. Legal Markets Die Rechtssysteme bieten verschiedene Vorteile für die Wirtschaftssysteme. 13 Wirtschaftliche Effizienz kann eintreten, wenn eine Maßnahme mehr Nutzen bringt als Kosten. Rechtssysteme helfen, wirtschaftliche Systeme effizienter zu gestalten, indem sie die Risiken für die Wirtschaftsteilnehmer verringern. Risiko bedeutet Kosten, die durch höhere Gebühren ausgeglichen werden müssen. 13 Ein durch staatliche Regulierung verringertes Risiko ist der Diebstahl. Die Regierung schützt die Eigentumsrechte der Eigentümer, so dass sie von den Vermögenswerten profitieren und sie in einer effizienten, wirtschaftlichen Weise nutzen können. Die Teilnehmer an einem Black-Markt-System haben ein hohes Risiko von Diebstahl in ihren Transaktionen sowie die Exposition gegenüber anderen Formen der Gewalt. 13 Regierungen bieten häufig auch einen regulatorischen Rahmen für die Sicherheit von Produkten. In einem Markt innerhalb eines Rechtssystems haben Käufer von Drogen eine vernünftige Erwartung über die Qualität der Medikamente und den erwarteten Nutzen der Drogen. Die Teilnehmer in einem schwarzen Markt für Drogen haben unvollständige Informationen über die Qualität der gekauften Medikamente und daher sind geeignete Entscheidungen schwieriger zu machen. 13 Preis Stockwerke Wenn ein Preisniveau gesetzt ist, muss ein bestimmter Mindestbetrag für eine gute oder eine Dienstleistung gezahlt werden. Wenn der Preisniveau unter dem Marktpreis liegt, tritt keine direkte Wirkung auf. Wenn der Marktpreis unter dem Preisniveau liegt, wird ein Überschuss erzeugt. Mindestlöhne sind gute Beispiele für Preisböden. In vielen Staaten hat das US-Mindestlohngesetz keine Wirkung, da die Marktlohnsätze für gering qualifizierte Arbeitskräfte über dem Mindestlohnsatz liegen. In Ländern, in denen der Mindestlohn über dem Marktlohn liegt, erhöht das Gesetz die Arbeitslosigkeit für gering qualifizierte Arbeitskräfte. Obwohl einige gering qualifizierte Arbeiter höhere Bezahlung erhalten, verlieren andere ihre Arbeit. Ich havent gehandelt wurde kaum überhaupt. Immer noch betrachten das System vollständig manipuliert werden. Jedoch sieht es sehr vielversprechend aus, eine kurze Aktienposition irgendwann zwischen jetzt und Inaguration zu nehmen. Es sollte ein Klacks sein, dass sie wollen, um den Markt zu trumpfen, um Trump zu zeigen, der die Dinge hier wirklich kontrolliert. -------------------------------------------------- ------ In Anbetracht der Inflation: Regierung übersteigt 1T auf einem 3T Haushalt. Das ist das gleiche wie Geld drucken. Irgendwann wird es auftauchen. Schauen Sie, was könnte aus dem Haushalt geschnitten werden, fügt es 2,5T über 10 Jahre, oder .25T jährlich. Aber das Defizit ist 4 mal höher, 1T. So sogar mit massiven Schnitten, können wir nicht nah an einem ausgeglichenen Etat erhalten. Merken Sie bitte, dass diese auf Paul Ryan8217s Tagesordnung, Wisconsin-Kongressabgeordnetes und Sprecher des Hauses sind. Einige davon habe ich noch nie gehört. Ich glaube, dass die Regierung sollte die Kunst und Geisteswissenschaften zu einem gewissen Grad unterstützen, aber vielleicht nicht auf die Melodie von 335 MILLION Dollar pro Jahr PAUL RYAN8217S VORSCHLÄGTE BUDGET CUTS Eine Liste der republikanischen Budgetkürzungen Hinweis S. S. und das Militär sind nicht auf dieser Liste. Das sind alle Programme, die das neue Republikanische Haus vorgeschlagen hat. Lesen bis zum Ende. Corporation für Public Broadcasting Subvention 8212 445 Millionen jährliche Einsparungen. Save America 8216s Schätze Programm 8212 25 Millionen jährliche Einsparungen. International Fund for Ireland 8212 17 Millionen jährliche Einsparungen. Legal Services Corporation 8212 420 Millionen jährliche Einsparungen. Nationale Stiftung für die Kunst 8212 167,5 Millionen jährliche Einsparungen. Nationale Stiftung für die Geisteswissenschaften 8212 167,5 Millionen jährliche Einsparungen. Hope VI Programm 8212 250 Millionen jährliche Einsparungen. Amtrak Subventionen 8212 1,565 Milliarden jährliche Einsparungen. Eliminieren Sie doppelte Bildungsprogramme 8212 H. R. 2274 (im letzten Kongress), verfasst von Rep. McKeon. Eliminiert 68 auf einer Einsparung von 1,3 Milliarden jährlich. UNS. Trade Development Agency 8212 55 Millionen jährliche Einsparungen. Woodrow Wilson Center Zuschuss 8212 20 Millionen jährliche Einsparungen. Cut in halber Finanzierung für Kongress-Druck-und Bindung 8212 47 Millionen jährliche Einsparungen. John C. Stennis Zentrum Zuschuss 8212 430.000 jährliche Einsparungen. Entwicklungsfonds der Gemeinschaft 8212 4,5 Milliarden jährliche Einsparungen. Heritage Area Grants und gesetzliche Beihilfen 8212 24 Millionen jährliche Einsparungen. Cut Federal Travel Budget in der Hälfte 8212 7,5 Milliarden jährliche Ersparnisse Trim Federal Vehicle Budget von 20 8212 600 Millionen jährliche Einsparungen. Essential Air Service 8212 150 Millionen jährliche Einsparungen. Technologie-Innovationsprogramm 8212 70 Millionen jährliche Einsparungen. Produktionsprogramm 8212 125 Millionen jährliche Einsparungen .. Department of Energy Grants an die Staaten für die Verwitterung 8212 530 Millionen jährliche Einsparungen. Beach Replenishment 8212 95 Millionen jährliche Einsparungen. Neu startet Transit 8212 2 Milliarden jährliche Einsparungen. Austauschprogramme für Alaska-Eingeborene, gebürtige Hawaiianer und ihre historischen Handelspartner in Massachusetts 8212 9 Millionen jährliche Einsparungen Intercity und High-Speed Rail Grants 8212 2,5 Milliarden jährliche Einsparungen. Titel X Familienplanung 8212 318 Millionen jährliche Einsparungen. Appalachian Regionale Kommission 8212 76 Millionen jährliche Einsparungen. Wirtschaftliche Entwicklung Verwaltung 8212 293 Millionen jährliche Einsparungen. Programme im Rahmen des nationalen und gemeinschaftlichen Dienstleistungsgesetzes 8212 1,15 Mrd. jährliche Einsparungen. Angewandte Forschung am Department of Energy 8212 1,27 Milliarden jährliche Einsparungen .. Freiheit CAR und Treibstoff-Partnerschaft 8212 200 Millionen jährliche Einsparungen .. Energy Star-Programm 8212 52 Millionen jährliche Einsparungen. Wirtschaftshilfe nach Ägypten 8212 250 Millionen jährlich. U. S.Agency für internationale Entwicklung 8212 1,39 Milliarden jährliche Einsparungen .. Allgemeine Unterstützung für District of Columbia 8212 210 Millionen jährliche Einsparungen. Zuschuss für Washington Metropolitan Area Transit Authority 8212 150 Millionen jährliche Einsparungen. Presidential Campaign Fund 8212 775 Millionen Einsparungen über 10 Jahre .. Keine Finanzierung für bundesstaatliche Büroflächenerwerb 8212 864 Millionen jährliche Einsparungen. Ende Verbote für wettbewerbsorientierte Beschaffung von staatlichen Dienstleistungen. Aufhebung der Davis-Bacon Act 8212 Mehr als 1 Milliarde jährlich. IRS Direct Kaution: Erfordern die IRS Gebühren für einige Dienste, die sie anbietet (wie die Verarbeitung von Zahlungen Pläne für die Steuerzahler) an die Treasury, anstatt es zu bleiben, als Teil seines Haushalts 8212 1,8 Milliarden Einsparungen über 10 Jahre. Notwendige Erhebung von unbezahlten Steuern durch Bundesangestellte 8212 1 Milliarde Gesamtsparen. WHAT8217S DIESES ÜBER Heiraten Steuerzahler finanzierte Gewerkschaftsaktivitäten durch Bundesangestellte 8212 1,2 Milliarden Einsparungen über zehn Jahre. Verkaufen überschüssige föderale Eigenschaften der Regierung nicht nutzen 8212 15 Milliarden insgesamt Einsparungen. Beseitigen Sie Tod-Trinkgeld für Mitglieder des Kongresses. WAS. Eliminieren Mohair Zuschüsse 8212 1 Million jährliche Einsparungen. Beseitigung der Steuerzahler Subventionen an die Vereinten Nationen Intergovernmental Panel on Climate Change 8212 12,5 Millionen jährliche Einsparungen. WELL ISN8217T DAS SPEZIAL Eliminieren Markt Access Program 8212 200 Millionen jährliche Einsparungen. USDA Zuckerprogramm 8212 14 Millionen jährliche Einsparungen. Zuschuss an die Organisation für wirtschaftliche Zusammenarbeit und Entwicklung (OECD) 8212 93 Millionen jährliche Einsparungen. Beseitigen Sie die National Organic Certification Cost-Share Programm 8212 56,2 Millionen jährliche Einsparungen. Beseitigen Fonds für Obamacare Verwaltungskosten 8212 900 Millionen Einsparungen. Bereit zu lernen, TV-Programm 8212 27 Millionen Einsparungen .. HUD Ph. D. Programm. Deficit Reduction Check-Off Act. Einige haben vorgeschlagen, dass Schmuck eine gute Investition ist, obwohl die 8220minting8221 Wert von Schmuck oft den Preis weit über die 8220melt Wert 8221. I don8217t kaufen in diese Schmucksache Sache, als Beweis, dass die Reinheit in der Zukunft ziemlich lästig sein könnte. Es gibt Methoden der Prüfung der Reinheit, die das Setzen von Säuren auf Ihr Gold beinhaltet, und es scheint keine Notwendigkeit, diese Brücke zu überqueren. Es gibt auch elektronische Tester, die brutal teuer sind, und nur dumm, auch nur, wenn Sie ein großer Händler waren. 24 Karat (Mill. Feingehalt 999) 8211 fast reines Gold - Diese Karat-Gewichtung gilt für Münzen auch 22 Karat (Feinfeinheit 916) 20 Karat (Mill. Feinheit 833) 18 Karat (Mill. Feinheit 750) 8211 75 reines Gold 15 Karat (Mill. Feinheit 625 ) Kupfer (D auf t Kupfer als Spekulation kaufen) Es gibt Firmen, die Kupferstäbe verkaufen, mit wahnsinnigen großen Markups über dem Spot . Ich persönlich denke, das ist eine dumme Form der Spekulation, vor allem angesichts der wahnsinnigen Markups. Das Platzen der chinesischen Wohnblase wird Kupfer für eine lange Zeit zu kommen. Gehäuse ist 40 von allen Kupfer verwenden. Bei 3 pro Pfund, verglichen mit Silber bei 480 pro Pfund und Gold bei 25.000 pro Pfund, sind diese PM8217s viel praktischer. Obwohl ich Schrott einige 16 Sonnenkollektoren und drehte das Kupfer in 2 schöne glänzende Goldmünzen Kupfer Pennies --- Ich don8217t rollen meine Pennies, habe ich sie in Vasen, die wirklich schwer. Ich habe eine repräsentative Art für Kicks, die 1909 bis 1982 Pennys tatsächlich 2,22 Cent im Schmelzwert wert sind, sind die 1983 auf aktuelle Pennies tatsächlich 95 Zink, 5 Kupfer und haben einen Schmelzwert von 0,48 Cent. Ich erhielt 819 Gramm Pennies in meiner Probe 1983 und später war 615 Gramm, 198 Pennies oder 75.1 1982 und früher war 204 Gramm, 65 Pennies oder 24.9 und eins von diesen war ein 8220wheaty8221 glauben ihm oder nicht. Bei 3,11 Gramm pro Penny war meine Stichprobengröße 263 Pennies. 1 Weizen. Gesamtsumme von 263 Pfennige in 240 Cent Nennwert, Sheesh I don8217t denken Sortierung Pfennige ist ein echtes Geschäftsmodell, aber warum nicht behalten sie Es kostet mehr Geld, um sie in der Zeit und Gas loszuwerden Es gibt bestimmte Arten von Transaktionen, die erfordern Die PM-Händler, um die Regierung in PM-Transaktionen Bericht. Die meldepflichtigen Transaktionen sind sehr selten. Einige Händler berichten nur die wesentlichen Berichte, und andere Händler werden sofort kommen und erklären, dass sie Ihre Transaktion fast die ganze Zeit berichten werden. Welche bevorzugen Sie sollten lesen Sie die Händler-Politik und fragen sie, wenn Sie in zu kaufen. Es gibt steuerliche Konsequenzen, wenn Sie verkaufen, wenn Sie jemals verkaufen. Gold und Silber werden in der Regel als Sammler mit Ausnahmen behandelt und unterliegen einem hohen Steuersatz. --Gott zuzugeben, sind die steuerlichen Fragen komplex und ich verbrachte ein paar Stunden zu verschiedenen Zeiten versuchen, einen Griff zu bekommen. Ich sah dies auf einem Ruhestand Website, jetzt die Leute halten PMs innerhalb 401k und IRAs, habe ich keine Ahnung, die physische Logistik der. Es gibt Ausnahmen. Bestimmte Goldmünzen, die von den USA (in der Regel die American Eagle Gold-, Silber - und Platinmünzen) herausgegeben werden, und alle Münzen, die von einem der Staaten ausgestellt werden, sind keine Sammlerstücke. Auch Gold-, Silber-, Platin - oder Palladiumbarren sind keine Sammlerstücke, wenn das Metall die unter einem regulierten Futures-Kontrakt erforderliche Mindestfeinheit entspricht oder übersteigt und im physischen Besitz eines qualifizierten Treuhänders ist. Klar wie Schlamm Yep, lassen Sie mich wissen, wenn Sie es herausgefunden. Eine asiatisch-amerikanische Rockband namens The Slants fragte ein Bundesgericht appelliert Gericht letzte Woche auf Markenzeichen seinen Namen, obwohl die Regierung sagt, dass es Unterschiede Asiaten. Die Gruppe argumentierte vor dem US-Gericht für Berufungen für die Federal Circuit Freitag, dass es eine First Amendment Recht auf Markenzeichen des Namens, weil offensive Sprache oder ethnische Bahnen können nicht von der Regierung zensiert werden, berichtet Reuters. Der Fall wird genau beobachtet, weil es eine Beschwerde der NFL8217s Washington Redskins, nachdem seine Marken wurden durch die US-Patent-und Markenamt mit der Begründung, dass die Mannschaft benannt Native Americans nennen. Unabhängigkeit dort. Yeah, dass Washington Redskins Namen könnte beleidigend sein. Immerhin wurden seit dem Jahre 1820 ziemlich alle Indianer von Washington nach Westen von Mississipi von Washington gestürzt, obwohl in Wisconsin bis in die 1850er-Jahre und sogar nach den Verträgen an der Spitze eines Gewehrs, ein paar indianische Gruppen, Wie der Clan des Chief Kewauskum (heute eine Stadt in Wisconsin) bis 1890 herum und reisten frei, mit einem primären Lager am Pike Lake. Das ist eine ganz andere Geschichte. All das beiseite, eine Konsultation von 300 Potawatomi Indianer hat erklärt, dass ja tatsächlich, sie fühlen sich den Namen Washington Redskins zu verunglimpfen und sie sind Einreichung eines Antrags als Intervenor, um den Namen ändern, um die Redskins und Wiederherstellung der Marken-Status, sowie Lizenzgebühren über den Vornamen. -------------------------------------------------- - Nun, das ist ein Witz, aber ein respektloser, aber relevanter Witz. Lager heraus. Mittwoch, 10. September 2014 MISH hatte dies mit Gedanken über eine Panne in Kupfer veröffentlicht. Stellt sich heraus, MISH war 100 richtige Donnerstag, 17. Juli 2014 Update 3-24-13 - Ein Freund hatte gefragt, wie Sie Gold kaufen und ich habe eine Zuschreibung für ihn, und für Ihren Vorteil auch. Ich habe ziemlich viel Erfahrung. Mit den fortgesetzten shenanigans in der EU und in Zypern, einschließlich die Drohung des direkten Diebstahls von den versicherten Bankkonten, gut gerade ungefähr alles geht. Dieser Artikel ist, wie ich Precious Metals (PM) kaufen Jede Form von elektronischen Reichtum ist verdächtig, leicht umgeleitet gestohlen an einem Tastendruck. Der Besitz harter Vermögenswerte in einer potenziell deflationären Welt (aka Pretcher MISH) könnte zu großen Verlusten führen, doch mit der ganzen Welt, in der ihre Druckmaschinen nach Großbritannien kommen, scheint die Chance der Inflation gering zu sein. Vorgeschlagene Inflationshecken 1) Gold, Silber, Platin, Palladium 2) Direktbesitz von Ölbrunnen 3) Direktbesitz an Solarenergieprodukten 4) Eigentumsrecht an Immobilien, insbesondere Erwerbsimmobilien. 5) Direktbesitz eines Unternehmens, das durch Rezession und Inflation dauern kann. Hier ist es in Kürze: Kaufen One Ounce Gold Bars Junk Silber, vor 1964 Dimes, Quartalen, Hälften Platin und Palladium in 1 Unze Münzen, die einzige wirkliche Wahl ist kanadische Maples Junk Silber bis zu 15.000 oder 15 Ihrer gesamten Stack Und Den Rest in Gold Bars und dann einige kanadische Maple Coins oder Krugerrand Münzen. Bis zu 10 von Ihrem gesamten Stapel in Platinum und Palladium Bleiben Sie weg von numismatischen Sammler-Münzen, sie alle haben 8220Good Stories8221, nur weg bleiben, es sei denn, Sie sind ein echter Münzsammler. Was auch immer Sie PM kaufen, betrachten Sie immer Markup über Punktpreis des Metalls (Gebrauchfutures für Punktpreis). Holen Sie sich das meiste Metall, das Sie Finviz ist ein OK Platz für Futures-Spotpreis. Versuchen Sie immer das meiste Metall für Ihr Geld zu bekommen. Don8217t beeindruckt werden mit Münzen, die mit einem hohen Markup (aka Premium) über Spot wie die American Eagle Goldmünzen kommen. Auf dem Eagles Verkaufspreis 1688, wenn Punkt bei 1614 ist, that8217s eine große Prämie. Achten Sie auch auf Verschiffen - und Versicherungkosten, die guten Händler, die ich empfehle, sind immer vernünftig auf diesem, unscrupulous können Sie mit einem großen Kosten schlagen, die effektiv Ihre Prämien erhöht. Oftmals, Bestellungen über 10.000 oder 20.000 erhalten kostenlosen Versand und Versicherung, aber der Versand und Versicherung ist nicht wirklich groß, sowieso sollten Sie nicht mehr als 25 oder so bezahlen ----------------- -------------------------------------------------- -------------------------- Für Vorspeisen, erhalten Sie 5.000 bis 15.000 in pre-1964 Silber Dimes und Quartalen, das heißt JUNK SILVER und es gibt Nichts junky darüber. Ein Viertel ist etwa 6, ein Dime ist 25 davon, etwa 2,50 für gedachtes Denken. Sie benötigen diese für Tauschhandel und Änderung in der kommenden New World Disorder. (NWD TM) Junk Silber wird verkauft von 8220Face Dollar8221, so ein Gesicht Dollar von Quartalen wäre 4 Quartale oder 10 Dimes. Das Gewicht von Silber in Dimes und Quartalen ist genau proportional zum USD-Nominalwert der Münze. 10 Dimes hat genau so viel Silber wie 4 Quartale. Ein Gesicht Dollar entweder Halb-Dollar, Quartalen oder Dimes werden rund 0,715 Unzen Silber je nach Verschleiß auf den Münzen, obwohl es nicht viel variieren wird. Silber ist schwerer als man denkt. Sie können 20000 in einem Rucksack, packen Sie Ihre bug-out Tasche, und einfach auf die Straße. Für gedachtes Denken ist Gold etwa 25.000 pro Pfund, so dass Sie leicht transportieren konnte 100k von Reichtum. Silber kommt auch in 1) Regierung geprägt Münzen (glaubwürdig, aber höhere Auszeichnung) 2) 8220Rounds8221, die runde Münze wie Objekte, aber dass aren8217t von einer Regierung geprägt sind, werden diese zu niedrigeren Prämie verkauft, aber in einer Mad Max-Welt können Sie Fragen 8220proving8221 haben Sie real zu sein. 3) 10 Unze-Stäbe, sehr kühl, ungefähr 300 gedacht, stapeln gut. Sie können auch 100 Unzen und sogar 1000 Unzen Bars, aber nicht. Viele Menschen empfehlen einen höheren Prozentsatz von Silber in Ihrem Portfolio als Gold in Dollar-Wert. Sie denken, dass, weil die langfristige Verhältnis von Gold zu Silber Preise hoch ist, kann das Silber mehr als Gold schätzen. Aber Silber ist auch 8220poor man8217s gold8221 und der arme Mann ist 8220retail8221 und Einzelhandel Panik, wenn die Dinge ein wenig skizzenhaft. Auch Silber macht es nicht einfach, schweren Reichtum zu transportieren, während Gold tut. Gold: Ihre wichtigsten Entscheidungen sind Regierung Münzen Münzen und kleine 1 Unze Bars. Es gibt auch große Bars, aber warum bekommen eine große Bar für Ego Es gibt keinen wirklichen Vorteil in immer große Bars, und Bars können eine Zertifizierung benötigen, wenn Sie sie verkaufen. Es gab einige Fälle, in denen Wolfram in die Mitte der Goldbar gelegt wurde. Wolfram ist fast genau die gleiche Dichte wie Gold, seine nur 0,22 schwerer als Gold, so können sie es im Inneren des Goldes zu verstecken. Die Stäbe haben eine niedrigere Prämie als die Münzen im Allgemeinen, so niedrig wie 16 über Punkt, obgleich dieses Tief selten ist, unter 30 Prämie pro Unze ist normal. Auch die Bars haben einen Vorteil, dass Sie vielleicht nicht wichtig, zu diesem Zeitpunkt, aber es kann sehr wichtig sein, in der Zukunft. Gold in Form eines 8220monetären Instruments8221 hat unterschiedliche Berichtsanforderungen beim Transport außerhalb des Landes. Viele Experten sagen, dass Sie das Land, in dem Sie Vermögenswerte zu diversifizieren, in der Tat, warum alle Ihre Eier in einem Korb sollten sicherlich alle Länder konkurrenzfähig abwerten ihre Währung, bis ein Ereignis bewirkt, dass sie aufhören Druck Geld und Abwertung ihrer Währung, und Werden sie auch versuchen, Reichtum daran zu hindern, ihr Land zu verlassen, und die USA werden alle anderen Länder mit finanzieller und militärischer Macht über den Kopf schlagen. Auf der anderen Seite ist es auch gut, ein Bündel von Gold in Ihrer Nähe zu haben. Goldlagerung ist eine komplexe Sache, und nicht Teil dieser Abhandlung. Einige Goldmünzen sind .9999 reines Gold. Das einzige Problem mit diesem ist, dass reines Gold ist weich und es kann sich in 8220use8221 zerkratzt, aber wie viel Einsatz sind Sie wirklich zu tun Wie oft werden Sie eine 1600-Münze in der Tasche treten. 1) Die US-Eagle ist 22 Karat, es hat 91,67 Gold, 3 Silber, 5,33 Kupfer 2) Die US Buffalo ist 24 Karat oder 99,99 reines Gold, wird es kratzen mehr, wenn dies ein Anliegen ist, und die Prämien variieren ganz ein wenig. Für eine reine Goldmünze gehe ich mit einem kanadischen Ahorn, der mit viel weniger Prämie verkauft. 3) kanadische Maple 8211 24 Karat oder 99,99 Gold, große Münze, große Glaubwürdigkeit, vernünftige Prämie vor Ort 4) Die 8220Krug8221, oder klassischen Krugerrand aus Südafrika. Eine große Münze mit einigen der niedrigsten Prämie auf gut angesehenen Goldmünzen. Der Krug ist 22 Karat, 91,76 Gold der Rest ist Kupfer, eine Legierung bekannt als 8220Krone Gold8221. Es enthält eine volle Unze Gold. 5) Es gibt noch andere, die österreichische Philharmonie und den chinesischen Panda. Ich denke, der Panda sieht albern und haben kein Interesse an der Unterstützung China8217s PM Markt. Dies sind die niedrigsten Prämie aller Goldprodukte (16 über Spot ist das beste, das ich dieses Jahrzehnt gesehen habe, 30 Prämie ist normal). Kaufen Sie immer die 1 Unze Bar, größere Bars sind für Ego oder ernsthaft große Portfolios (über 10M). Perth Mint, Austrian Credit Suisse, Royal Canadian Mint und die Pamp Suisse sind alles was Sie wissen müssen. Platin-und Palladium-Münzen: Warum nicht Diversify ein wenig, kaufte ich Platin im November 2012, als einer meiner empfohlenen Händler hatte eine gute Bullen-Session mit mir und sagte 8220I wie in ein Metall, das in einem volatilen Land wie Südafrika8221 produziert wird diversifiziert. In der Tat, nur wenige Tage nach einem gewalttätigen Streik traf ein großer Produzent in Südafrika und das Metall stieg. Die kanadische Maple Platinum hat eine relativ niedrige Prämie, es ist ein 50 8220face Wert8221 als echte Regierung Münze, im Wert von rund 1700 in geprägt Kosten. Eine Prämie rund 60 pro Maple ist normal. Für Palladium ist die Prämie rund 30 pro Maple. Die PGM Platinum Gruppe Metalle sind nicht monetäre Metalle per se, so dass sie möglicherweise nicht so nutzbar in einem SHDF-Armageddon-Szenario, aber ich gehe davon aus, dass nach Armageddon, dass einige Normalität in meinem Leben zurückkehren wird. Einige haben vorgeschlagen, dass Schmuck eine gute Investition ist, obwohl die 8220minting8221 Wert von Schmuck oft den Preis weit über die 8220melt Wert 8221. I don8217t kaufen in diese Schmucksache Sache, als Beweis, dass die Reinheit in der Zukunft ziemlich lästig sein könnte. Es gibt Methoden der Prüfung der Reinheit, die das Setzen von Säuren auf Ihr Gold beinhaltet, und es scheint keine Notwendigkeit, diese Brücke zu überqueren. Es gibt auch elektronische Tester, die brutal teuer sind, und nur dumm, auch nur, wenn Sie ein großer Händler waren. 24 Karat (Mill. Feingehalt 999) 8211 fast reines Gold - Diese Karat-Gewichtung gilt für Münzen auch 22 Karat (Feinfeinheit 916) 20 Karat (Mill. Feinheit 833) 18 Karat (Mill. Feinheit 750) 8211 75 reines Gold 15 Karat (Mill. Feinheit 625 ) Kupfer (D auf t Kupfer als Spekulation kaufen) Es gibt Firmen, die Kupferstäbe verkaufen, mit wahnsinnigen großen Markups über dem Spot . Ich persönlich denke, das ist eine dumme Form der Spekulation, vor allem angesichts der wahnsinnigen Markups. Das Platzen der chinesischen Wohnblase wird Kupfer für eine lange Zeit zu kommen. Gehäuse ist 40 von allen Kupfer verwenden. Bei 3 pro Pfund, verglichen mit Silber bei 480 pro Pfund und Gold bei 25.000 pro Pfund, sind diese PM8217s viel praktischer. Obwohl ich Schrott einige 16 Sonnenkollektoren und drehte das Kupfer in 2 schöne glänzende Goldmünzen Kupfer Pennies --- Ich don8217t rollen meine Pennies, habe ich sie in Vasen, die wirklich schwer. Ich habe eine repräsentative Art für Kicks, die 1909 bis 1982 Pennys tatsächlich 2,22 Cent im Schmelzwert wert sind, sind die 1983 auf aktuelle Pennies tatsächlich 95 Zink, 5 Kupfer und haben einen Schmelzwert von 0,48 Cent. Ich erhielt 819 Gramm Pennies in meiner Probe 1983 und später war 615 Gramm, 198 Pennies oder 75.1 1982 und früher war 204 Gramm, 65 Pennies oder 24.9 und eins von diesen war ein 8220wheaty8221 glauben ihm oder nicht. Urheberrecht Alle Inhalte als urheberrechtlich geschützt, alle Rechte vorbehalten. Links zu diesem Blog sind natürlich völlig willkommen. Material kann angehoben werden, solange Kredit auf HawaiiTrading in einer unauslöschlichen Weise gegeben wird. Dies ist nicht Anlageberatung. Wir sind weder Anlageberater noch finanziell akkreditiert. Alle Ihre Anlageentscheidungen erfolgen rein auf eigene Gefahr. Dies ist nicht Anlageberatung habe ich dieses Blog erstellt, um meine persönlichen, subjektiven Beobachtungen über die Märkte, nur für meine Unterhaltung und die der interessierten Leser und zur Förderung der Forschung. Nichts auf diesem Blog sollte als Finanzberatung oder ein Angebot oder eine Empfehlung zum Kauf oder Verkauf von Sicherheit ausgelegt werden. Ich ermutige jeden, der an den Märkten interessiert ist, deine eigenen Hausaufgaben zu machen und einen professionellen Berater zu konsultieren. Ich bin kein zertifizierter Finanzberater und bin noch Raffinerie meines Handelssystems. Ich behalte mir das Recht vor, die Veröffentlichungsaspekte meines Systems jederzeit zu ändern oder zu beenden. Mein System hat zu sehr großen Drawdowns in einigen Trades geführt. Vergangene getestete und Echtzeit-Ergebnisse sind keine Garantie für zukünftige Performance. Ich hafte nicht für Verluste oder Schäden jeglicher Art, die sich aus dem Inhalt dieser Website ergeben. Obwohl ich die Daten, Berechnungen und Informationen auf diesem Blog als zuverlässig betrachte, kann ich keine Garantien machen und wird nicht haftbar gemacht oder verantwortlich für etwas falsches auf dieser Website. Sie sind allein verantwortlich für die Sicherung Ihrer Daten und Systeme, wenn Sie diese Website und deren Inhalt und Links nutzen. Es liegt an dem Benutzer dieser Website und Inhalte, um sich vor Würmern, Trojanern, Viren und dergleichen zu schützen. Ich kann Positionen in einigen der in diesem Blog erwähnten Wertpapiere halten. Nichts in diesem BLOG oder referenzierten Dokumenten soll Anlageberatung sein. Jeder sollte einen vertrauenswürdigen Anlageberater und Finanzberater konsultieren. Alle Investitionen und Trading-Risiken, die im gegenwärtigen Umfeld äußerst erheblich sein können, insbesondere bei Verwendung von Leverage-Instrumenten wie 2X. 3X, Optionen oder Futures. James Altucher 8 Gründe nicht auf Daytrade Jeder will ein Daytrader sein. Lassen Sie mich Ihnen sagen, die besten Tage. Sie kommen um 9:25 Uhr. Sie machen den Handel Ihr System sagt Ihnen, um 9:30 Uhr. Und um 9:45, ist der Handel getan, gewinnbringend, und Sie getan für den Tag: 1800 reicher und glücklich darüber. Noch besser sind die Geschichten von Menschen, die 3000 weg von ihrer Kreditkarte und 18 Monate später hatte ich 25.351.011,45 in der Bank. Am ersten Tag entschied ich mich, ein Vollzeit-Daytrader zu sein, am 18. Mai 2001 war ich so aufgeregt, dass ich nachts nicht schlafen konnte. Es war unglaublich, wie viel Geld ich machen wollte. Aber seine alle eine Lüge zu sich selbst. Ich noch gelegentlich daytrade. Und Ive daytraded für andere Leute. Ive daytraded für Hedgefonds und für Stützenhandelsfirmen. Bevor ich Daytrading begann, erzählte mir ein Oldtimer, der 40 Jahre im Geschäft verbracht hatte, es nicht. Warum willst du mit den Leuten einbezogen werden? Aber ich wollte diese Leute sein. Ich war einer von ihnen. Ich war ein TRADER. Dont tun it8230Heres warum: 8211 Selbstmord. An einem gewissen Punkt fühlen Sie sich selbstmörderisch. Das bedeutet nicht, dass du dein ganzes Geld verloren hast. Sie könnten nur mit Ihrer schlimmsten Woche in 2 oder 3 Wochen. Aber aus welchem Grund auch immer Sie gekauft haben, wenn Sie verkaufen sollten, und dass Ihr Kopf drehte und jetzt müssen Sie von der Leiste gesprochen werden. Ive sprach viele Leute von der Leiste in den letzten 10 Jahren und musste ein paar Mal von mir gesprochen werden. Sein nicht ein angenehmes Gefühl. Warum das zu sich selbst 8211 Youll overeat. Warum nicht Du legst einfach den Handel an und der zweite bist du gegen dich gegangen. So setzen Sie auf mehr und es ging gegen Sie einige mehr. Also jetzt starrst du ihn an und du fühlst dich schlecht. Ihr Körper muss sich gut fühlen. Ihr Körper ist sehr kurzfristig in seinem Denken. Sein Sprichwort, haben Sie etwas, das mich schlecht fühlen so jetzt brauche ich einen Donut. Ich weiß, dass das Gleichgewicht das schlechte Gefühl so gehen tun. Eile. So essen Sie einen Donut. Der Handel geht gegen Sie mehr. Schrauben Sie es, essen Sie 5 weitere Donuts. Sechs. Sieben. Im immer krank sogar schriftlich. Acht. Neun. Und so weiter. 8211 Deine Augen gehen schlecht. Stellen Sie sich vor, Sie haben zwei Bildschirme vor Ihnen und Tausende von Zahlen und sie sind alle blinkt und wechselt von grün zu rot zu grün. Youre starrte auf diese Zahlen für Tausende von Stunden im Laufe der Jahre. Ich kann nicht lesen Bücher in der Nähe von mir mehr. Die Buchstaben schmelzen alle zusammen und sehen aus wie ein Kaleidoskop. Ich muss meine Brille nehmen, um sie zu lesen. Obwohl, ist, dass so schlecht Vielleicht werde ich nicht brauchen Gläser mehr schließlich. 8211 Gesellschaftliches Leben. Glaubst du wirklich, dass verlieren 500.000 Ihrer Kunden Geld an einem Tag wird Ihnen eine glückliche, Chipper Person, wenn Sie mit Ihren Freunden in dieser Nacht gehen. Eine Person erzählte mir, spielen mit Ihren Kindern. Kinder machen dich immer glücklich. Was zum Teufel will ich wirklich zu einem vierjährigen Jabber über etwas hören, wenn Ive Geld auf der Linie Vergessen. 8211 Blutdruck. Wenn ich ein Geschäft gegen mich habe, kann ich dort sitzen und fühlen, wie das Blut durch meinen ganzen Körper pumpt. Ich kann meinen Herzschlag fühlen. Das scheint wie eine Supermacht, aber es ist nicht. Wenn Sie jeden einzelnen Impuls hören, der durch Ihren Körper geht, dann etwas sehr schlechtes geschieht. 8211 Nichts produktives. Mein größtes Bedauern im Leben ist die Stunden verbrachte ich beobachtete Trades, wenn ich könnte ein Website-Geschäft oder starten eine andere Art von Geschäft, das könnte tatsächlich hilfreich für die Menschen. Wie ein Donutspeicher. Wer bin ich helfen, indem sie versuchen, ein paar tausend Dollar aus dem Markt zu reißen jeden Tag Wenn irgendetwas, wie ich versuchen, einige Pocket 8211 die unglückliche, übermäßigen, selbstmörderischen, Bastard auf der anderen Seite meines Handels zu pflücken. 8211 Keine Karriere. Wenn Sie dort sitzen und Handel jeden Tag youre nicht Vernetzung mit Freunden oder anderen Fachleuten. Du lernst nichts Neues über die Welt oder die Wirtschaft. Jede Sekunde sitzt man da und beobachtet einen Handel, den Sie sich immer weiter von jeder Vorstellung einer Karriere entfernen, da Daytrading keine Karriere ist. Sie sind näher an einem Häftling in einer psychiatrischen Anstalt und nicht ein funktionierendes Mitglied der Gesellschaft, dass Ihre Kinder stolz sein können. 8211 Es ist unmöglich. Ich kenne einige sehr gute Daytrader. Auf lange Sicht ist es möglich, Geld zu verdienen Daytrading. Aber seine harte und es dauert Jahre, um die Psychologie zu bauen. Jeder gute Daytrader, den ich kenne, leidet darunter. Sie müssen extrem bescheiden sein, keine Wahnvorstellungen haben, wenn es um Ihre Markt-Meinungen geht, nehmen Sie Verluste so schnell wie möglich, und nicht entmutigen. Leider, auf lange Sicht, habe ich keine dieser Qualitäten. Und du auch nicht. (Siehe auch, Wer wirklich Geld macht an der Wall Street) Gute Post, gesprochen von jemandem, der in den Schützengräben gewesen ist. Selbst wenn Sie ein System haben, um so viel von der emotionalen Roller wie möglich 8211 es ist immer noch da. Systeme können nur wegnehmen die Emotionen aus dem Kauf und Verkauf. Wir haben immer noch mit dem Portfolio ups amp downs umzugehen. Und Mann, es dauert Jahre, um klug genug, um zu realisieren you8217ll immer noch immer das Gefühl. Oh, und liebte die Pick Pocket quote8230so wahr. ROFL8230this ist ein fantastisches Stück. Ich kann mit dem addierten weight8230.been dort gotta sage ich don8217t mit allem in der Post zustimmen sympathisieren. I daytraded in den glorreichen Tagen der letzten Bullenmarkt im Jahr 2007 amp die Gewinne aufgetürmt. Didn8217t brauchen Optionen oder gehen kurz, obwohl ich seitdem gelernt, die sind wertvolle Werkzeuge in Bärenmärkten. Daytrading ist die ultimative Herausforderung. It8217s ein Spiel über gewinnende amp strategizing amp nehmen, was es für die Kommissionierung. Es erfordert intensive Konzentration, viel Forschung amp Wunsch. Ich denke, Sie haben entweder die Leidenschaft für den Markt, oder Sie don8217t. Wenn Sie die Leidenschaft haben - Sie perfektionieren Ihre Kunst. 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 . Cheers. 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. Ich bin mein eigener Chef. 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. Really. 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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