Finding data / When to give up the day job.

[HowMuchLonger]

Two questions.

I am in a reasonably paid job that affords me time off to play with IGindex. Whilst playing I have managed to win approx xxx per day, averaging a 25% return per month. At what stage should I think that I could make a living from this and give up my day job?

Also,
I am looking for the movement of a stock on every friday for the last 12 months. Is there an easy source for this data, or do I have to do it manually?

[shadowninja]

Isn't that down to how much you need to live?

As for stock prices, try Omnitrader or Sharescope Gold.

[HowMuchLonger]

My thoughts were to only give up after making more than the day job on a month by month basis, continualy for one year.
My question should have been; Is this a sufficient abount of time to know that I can do it?

Thanks for the info.

[shadowninja]

How long have you been doing it? I heard the average successful trader takes between 6 months and two years to become consistently successful. And 25% per month sounds quite high. What would happen to your account if you were wrong 3 times in a row?

Edited by shadowninja on Friday 2nd May 23:09

[HowMuchLonger]

I have been doing it for 5 months. It ranges from 4 trades per month to 20 trades per month. Yes I do fairly high risk, so losses could be bad but not wipe out bad.
I recently invested for a friend, very low risk, and returned 10% in 2 months.

[shadowninja]

You should risk no more than 1-2% per trade to avoid being wiped out. What would happen if you had 5 losses in a row?

As for trading for a friend, there are some legalities you need to go through, I think.

[shadowninja]

If you want more detailed advice, send me an email...

[mcflurry]

Bloomberg will cost you something like $1500 a month, plus live feed data...

[NoelWatson]

HowMuchLonger said:

Also,
I am looking for the movement of a stock on every friday for the last 12 months. Is there an easy source for this data, or do I have to do it manually?

You can download it from Yahoo

[NewNameNeeded]

NoelWatson said:

HowMuchLonger said:

Also,
I am looking for the movement of a stock on every friday for the last 12 months. Is there an easy source for this data, or do I have to do it manually?

You can download it from Yahoo

any idea on a general source for commodity (specifically oil) prices? Not just Nymex ones either.