I have dabbled with the idea of day trading and feel that with a 3% weekly return on investment I will be able to reach my financial goals with in 5 years. I know that most will lose money in this pursuit but I am not really looking for major hits with each transaction. Just a modest return. Is 3% a lofty goal or should I be looking to "let it ride"?
I would tell you that is lofty, to consistently pull that you have to be darned good–there might be a week you return 10% followed by 3 weeks you lose 10%.
Speculating is NOT investing, it is a hobby that can make or lose you money. It is risk capital that you should be doing this with.
My advice would be to start reading technical analysis books and work with a broker at first. One that will take some time with you–help you understand. You will have to pay a commision greater than what you will online but you will have a teacher to help you. When you are comfortable go online with it.
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