Sunday, December 27, 2009

dreamspeak -- 27 December2009

*** Notice:  dreamspeak is a special feature in this blog where I get to speak whatever that comes to my mind.  Having your own opinion certainly beats having no opinion at all.  ***

Earned income --Most people don't make enough money from their jobs.  If you have in a fixed-income job and have ZERO chances for that coveted promotion, try to rent a room out or give some tuition.  La Papillion (a.k.a "Batam boy") certainly understands that; he told me that his main focus at this point in time is on his career, not trading.   But I am not sure if the rest do.  Without a good source of "funding", how are you going to have a good-sized account to be successful in the market?

Size of the investment/trading account -- Most people don't talk about it but the larger the size of your account, the higher the probability of success.  It provides you with "a margin for error" if your investment turns against you.  With a small-sized account, you are often compelled to take risk unsuitable for your account size.


Anonymous said...

What is the advised start up trading account size? Is there a magic number?

dream said...

The account size should be big enough for you to enjoy meaningful profits when the trade goes your way while at the same time allows you to observe good money management rules.

Createwealth8888 said...

Hi Anonymous,

Magic number - as large as possible.

Read on ..

Gohsip said...

The Larger the better! Poor Blokes like me have to go for small & mid caps like ausgroup, midas, etc. One lot of KepCorp allos me to buy 10 lots of Midas! I need to take on more risk. No money for blue chips!

Cheng said...

Poor student like me also have to go for mid to small caps. :(

I have another solution! For individuals with small account size, one should instead trade and aim for 3-5% a day. Not easy, but this is my new New Year perspective. :D

Anyway talk is cheap. I will push myself more this year.

Boo to those with big big accounts. I will catch up someday! :P

Happy New Year bros and sis! LOL...