Ask Colin

Could you please tell me the best way to daytrade the stock market and make +/- 10-15% on each trade after brokerage?

I wish I knew.

Firstly, it does not work like that: +/- 10-15% on each trade. The reality is that there is no way to win on every trade. The very best traders seem to have only about 50% winning trades. Losses are an integral part of trading. The trick is not to lose too much on the bad trades and make larger gains on the good trades.

Also, the Pateto principle - or 80/20 rule - seems to apply to trading as to so much else of life. 10-20% of the trades make 80-90% of the profits over a full bull-bear market cycle.

Finally, 10-15% is an excellent trading record. Not too many can do that. It will take you quite a while to learn to trade in that range.

I don't want to be too negative, but I fear you do not yet know what it is you don't know. Please, for your own sake, learn more about trading before starting. You have a very steep learning curve in front of you.

I hope these words help you in the long run, even if they are discouraging at this point.

Beware of people telling you what they think you want to hear; usually in order to sell you something.

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