I’ve been doing more research on the difference, now I am no pro but I am capable of looking up the difference.
To answer the question above, should I swing trade or day trade…
I really do not think it matters, select one and stick with it long enough until you get results.
So, honestly I was going to do both…until I realized the power of focus.
Of course you can do both, but how long until you get results with both when really you can potentially get to your goal sooner if you just buckle down on just ONE method of trading.
Which is why I am going to continue with just option trading.
Once I begin to see profits I’ll then reinvest it into my education to learn how to properly day trade.
So for I’ve funded my option account with $500.00
If you have yet to watch the video where I show you “I sold my AMD stock for $7,000”
I’ll be using $5,000 of that and saving the other $2000 for tax purposes.
I learned early on that profits are not all your profits.
Especially if you live in the United states.
I’ve been fortunate enough to learn about taxes through running and managing my own business.
Make sure you set aside a percentage of your profits, I like to do 30% minimum or 50% so I have buffer the next year.
Most would probably be like, “fifty percent, you’re crazy!”
I live a pretty simple lifestyle…I do not care for the materialistic things.
Although I gifted myself a Porsche, that in it self was a 4 year decision.
That is correct, when I was 21 I was able to buy the same car I am driving, yet I chose to invest instead of spend.
Which brings me to say, the material things will always remain.
Your time is the most important community, investing in education and learning new skillsets like option trading, swing trading.
My favorite is long term stock holding.
Lol I seriously like the thought of buying and returning to it just to see the value in it increased.
Its like finding treasure.
Anyways, back to the trading topic.
I’ll be documenting every single trade I take on this blog.
Again, I am not a professional at trading.
I simply watched a course, did research and set assigned money to re-invest.
Oh by the way, this is money I am willing to lose. I already know the trading comes at a risk, especially as a beginner. Keep in mind I do not plan on blowing up my account, I will slowly use the fund. I am not gambling.
It is not that hard to set up plans, the execution part is were I see most deviate.