I live in beautiful Vancouver, British Columbia–host of the 2010 Olympic Games. I have a Bachelors of Commerce Degree (Business) specializing in Urban Land Economics from the University of British Columbia and work as a Commercial Real Estate Appraiser. Over the years I have successfully completed all the requirements to become an investment adviser in Canada and also completed the options licensing courses for fun. I decided to take my career another way, but I am still very actively involved in personal finance. Throughout the years, I have tested many different trading strategies from Day-Trading to Long-Term Fundamental Analysis. Some of these strategies have been successful and some I would rather call great learning experiences with high tuition costs.
I love Vancouver! I went there to get on my Norweigan Cruise Lines Cruise to Alaska!
Hope all is well.
Best,
Sam-urai
hey cool, i’m from Vancouver too! So out of curiosity, which trading strategy works the best? (long term, day trading, or swing? I’m sure there’s more but those are the only ones I know of).
For me, the turtle wins the race. Long and steady is a strategy that requires the least amount of work and allows you to sleep at night since if you enter into a loosing position you apply a long term view to decide whether to ax that position or hold on for a recovery.
I have tried swing trading as well. This strategy made it hard to sleep at night. Either you are excited because you are up and think about how much higher you might go or your down and need to figure out how much pain you can take. This strategy requires a great deal of discipline. Never enter a position without you up and down exit expectations, especially with this strategy.
As for day trading, you can make a few percent a day while levered up and just keep adding and adding, but all it takes is one big loss to wipe out all those gains. This is what I learned.
There are thousands of other methods of trading with different time horizons and different reasons to buy and sell. There are people that trade based on many interesting and crazy ideas. For example, the farmers almanack, weather patterns, the popular colours of the fashion season. If you don’t believe me do a Google search and you are sure to find some strategies that seem absolutely ridiculous, but may have made people money.