I always strive to be positive about all the comments and questions I receive, but my answer today just might not come out this way …
I would like to do day trading 30-45 minutes a day. Is there a reliable way to do this and make a modest gain without risking a lot. I have a 100K portfolio I am trying to build up. I would love to learn about any automated software I can integrate into my trading account to give me a level playing field with Goldman Sachs.
- What trader wouldn’t want to trade but 30-45 minutes per day and “make a modest gain without risking a lot.”
- What trader wouldn’t want “automated software I can integrate into my trading account to give me a level playing field with Goldman Sachs.”
Unfortunately, my answer to both desires is that neither is possible for someone who is not a professional, seasoned, and successful veteran of trading. Even then, for those who are professional, seasoned trading veterans, the likelihood of trading only 30-45 minutes per day is highly unlikely. Yes, I know that advertisements out there tell us we can trade 30 minutes per day and make gobs of money. At least you are only asking for a “modest” gain. Even so, in my experience, simply understanding the daily machinations of the geo-political-financial landscape takes at least 30-45 minutes per day.
As well, to get a level playing field with a player such as GS, one would need billions of trading dollars, thousands of employees and billions to pay them. One would need millions of dollars in computer/software equipment, a worldwide network of political connections, and U.S. political connections that have turned two former CEOs into U.S. Treasury Secretaries in the last 15 years. Perhaps, most necessary, one would need to develop a corporate culture that demands the interests of the company come before even the interests of the country in which GS thrives.
My advice is to take your money and put it into a solid, reputable mutual fund that offers a financial advisor for no extra money. Now that your money will most likely earn the modest gain you seek, take step one, which is to take as much time as you need to learn about how the financial world and global markets work. Step two is to move on to how geo-politics and global governments affect the financial world and global markets. Step three is to then get up everyday and put what you know into practice by analyzing the big financial and geo-political picture. Once you learn the language of the financial world and global markets, and once you understand the big picture both short and long term, then go back to your financial advisor and discuss with him or her how best to adapt the funds in your family to maximize returns based on your understanding of where the world is going and where the money will flow.
Trade in the day; invest in your life …
