T.Ohrt - no offense taken. Everyone must find their own way. There is a lot of bulls**t out there, but also some credible. Ultimately, others can recommend systems - and you are right to be sceptical - but each man/woman must find their own way, and that can only be done by exploring with an open mind (how philosophical :)
Dennis - you are entirely correct. On "paper" 1% a day makes $trillions compounded over years, but in reality you can only buy so many positions at a brokerage and sell them when you need. Plus, taking into account decent money management and not risking more than, say, 2-5% on any one trade - so 1% overall returns are much smaller. If you search for The Rumpled One (TRO) on the net, you will see this guy is VERY credible. I have learnt a lot from him. And it is all FREE! Some people - and no offense if you are one of them - will not be able to accept this. TRO recommends: 1. Do NOT diversify. Focus on 1 or 2 stocks/FX/whatever and NAIL them. 2. Keep it simple I know for a fact the first time I used his indicators, systems, they were so simple I HAD to meddle with them. That says a lot about myself. I am now approaching with a more open mind. I have ported his indicators over to Amibroker at: www.kreslik.com (OFF TOPIC: I do love Amibroker! It is very good for the price. I just wish - and no offense intended - that Thomasz would have more support staff). There is a lot to take in at kreslik.com - but I really do recommend it. Please explore. (BTW: I have NO financial interest or otherwise). TRO trades AAPL primarily - for an hour or two at the US Open. You can see how AAPL very often "prints" $100 notes. TRO has a chat room (also free), where he talks thru his trades each day as they happen. I learn a lot from this. HOWEVER - his trading is not 100% mechanical. He is very experienced. Myself - I am still demo trading, but am using the ideas from www.kreslik.com to backtest one of the systems. I am aiming for 1% a day and reckon it can be done. I prefer mechanical systems, as I am jumpy and impatient - and don't want to be hovering over the Sell button when in a position wondering. Utlimately, give 10 people the same information - 5 will make losses, 3 will break even and 2 will do well. This is a fact of life. If day-trading is not for you, definately check out David's book (through my affiliate link would be great :)) - David's system is EOD and good. His support is excellent - and personal! - and he taught me a lot about spread-betting, risk management (which I had no idea about before!) and swing trading. And if you don't like the eBook - he does refunds. I own a lot of systems, but these are the two I recommend. I hope this helps. Alex
