at Juice and Mr Perfect: Thank you for the kind words. Much appreciated
I'll do my best not to dissapoint with the book, gonna take my time. No point in rushing things. Wanna cover as much as i can. Be easy to read for novice people and still have a lot to offer for more expierenced people. No idea how the final result will look like, but i do have a draft in my mind about how its gonna be.
at Reyth: its pretty easy to start daytrading in terms of capital yes. A couple of 100 suffice to get you started. the question is will it be enough to cover your needs? thats the starting question before ever considering trading. It is knowing what you wanna get out of it, what you are pleased with. If the answer is : ' a little extra spare money'. Then yes go ahead with small amount.
For me i see daytrading as a second income. so starting with something like 500 bucks to 1 k would not sattisfy my needs.
To be honest i started with 5K, if i could restart things i'd prefer to start with a least double that amount. But things are as they are. doing just fine. although it would have spared me a lot of time. but hey i'm not going to complain.
at Jake: glad to hear and read that you have improved yourself. Trading fees sure are a thing not to take lightly. Paying to much only affects your profits. in the long run this can make a huge difference. Although i dont trade using apps. (i only use them for financial news).
at Mr Perfect: about the taxes, yes indeed its like SB already mentioned. it differs from country to country. so couldn't say for sure what is valid in your particular situation.
Seems like SB is from holland. I'm Belgian, so in some way we are neighbours. Be still law is different.
I dont know for holland but over here, a speculation tax was introduced. Meaning punishing people who daytrade. we would have been obligated to pay 33% tax if we didn't buy and hold for over a certain periode of time (months). But as always, there were ways to get by this. So the gouvernement didn't earn as much as they tought they would, so they've already dropped this rule.
Meaning politicians in my country are a bunch of morrons. The human race has always been able to adapt in changing evironments /situations it was in.
So they didn't forsee that people would change their ways, looking for solutions to the problem opposed.
this is just a little example of how a introduced new law can effect the business you are in.
In general the broker will send you a document which you need to fill in your tax form. I have the luxery to have an ex girlfriend who's in the financial branche, so all things related to taxes, i give into her hands, because she knows everything about it. how to get by some things , cause there are always some backdoors that can save you a lot a money.
But that's just the way it is over here in my country.
How it is in your case? surely will be different. I suggest you go inform yourself with the help of a financial expert. thats way more solid, than reading tons of different stuff on the net that contradict one another.
At Shadow: Glad to see there are others feeling confident about their trading. although i dont calculated average winnings in terms of weeks, for the style i'm trading that time window is to short.i dont count in pips eihter. when i would calculated it that way. my strategy would look very inconsistent at first glance. when i look at the numbers from month to month, i already mentioned what the results are. I hope you continue to do the same. Continu doing a good job and good luck
I see you are using leverage. I dont mind that approah. You should do what you feel comfortable with. But i wont advice it for someone not experienced. agreed?
and a question to you to finish off: as you are from holland, what's your opinion of the available books about investing and trading in Dutch? Me personally i dont find them being much of value, besides covering a solid foundation maybe. But they dont dig deep enough for my liking.