KJ
19-12-2004, 05:25 PM
Until recently I have only been interested in investing long term and have kept away from trading.I have been a LT investor for about 25 yrs.
Over the last 12 mths I have learnt some of the TA basics as an aid to FA and have started with a plan for Trading.I am fully aware of the tax implications.
I will outline my plan for Trading and would appreciate advice from experienced Traders.
PLAN
(a)I have set aside a specific amount for trading (15% of total)
(b I will only trade coys that I hold in my LT portfolio because I have researched them fully,they all have strong earnings growth,and are in an uptrend.
(c)I buy when the simple TA indicators that I use indicate a buy.
I have completed 3 trades in Dec as follows-FBU 15.2% gain in 7 wks,FBU 11.8% gain in 6 wks,RYM 8.7% gain in 3 wks (all after broker costs)
Here are my questions:
(1)Do you look to make a set % and sell immediately this is achieved?
(2)Do you have a time frame in mind to hold for?
(3)What is the average profit you would look to make in a yr-ie if you have say $50k set aside for trading would you expect a profit of $50k-another words 100% gain?
Any advice would be appreciated.
Over the last 12 mths I have learnt some of the TA basics as an aid to FA and have started with a plan for Trading.I am fully aware of the tax implications.
I will outline my plan for Trading and would appreciate advice from experienced Traders.
PLAN
(a)I have set aside a specific amount for trading (15% of total)
(b I will only trade coys that I hold in my LT portfolio because I have researched them fully,they all have strong earnings growth,and are in an uptrend.
(c)I buy when the simple TA indicators that I use indicate a buy.
I have completed 3 trades in Dec as follows-FBU 15.2% gain in 7 wks,FBU 11.8% gain in 6 wks,RYM 8.7% gain in 3 wks (all after broker costs)
Here are my questions:
(1)Do you look to make a set % and sell immediately this is achieved?
(2)Do you have a time frame in mind to hold for?
(3)What is the average profit you would look to make in a yr-ie if you have say $50k set aside for trading would you expect a profit of $50k-another words 100% gain?
Any advice would be appreciated.