Hi all,

Within the immediate future I will be purchasing Bill's DVD's. Just had a thought and I haven't seen this posted yet so I thought I should ask.
Obviously we need a couple of hours a day to "Day Trade" (not sure how long), and I imagine that I'm not the only one who would like to escape the 9-5 rut.

For those of you who work hard like myself, how and when can and should we trade taking into consideration that not all of us can access a computer while on the job. I may be lucky as I possibly could, but just wondered who else may have encountered this challenge? :scratchchin:

Is there more appropriate times to trade or is this something that is covered within the DVD's?
I appreciate your feedback. :2tu:

Thank you
Derek

Hi Derek

While you still have a job it can be a bit tricky when to trade, I work for myself, in the break down industry, and at the moment I try to get everything I need done before 10.00am to 11.00am, and if its not a urgent breakdown, I say ill be there some time after 4.00pm it does not always work, I think to really learn the skills to be a day trader you need to open with the market and close with the market, until you get a real feel for a few stocks and learn there patterns, you have to follow them live during the day, most of my trading is done out of my van, I have a wireless Telstra internet modem, a 240 volt inverter which runs my electrics for some jobs, and also keeps my laptop charged, its just me and the dog all day working and following the market, however I am lucky as all my work is on the northern beaches of Sydney, so I have some prime offices all around the place and not getting charged for it, is pretty cool.

Also to Derek the best Xmas present you can give yourselves ever, is a session with Bill, seriously you will not only save $ in the long run, or short run, but TIME fumbling around with other strategies.

Good luck and hope that helps.

Cheers Rob.

Hi Rob,

Thanks for your reply. The laptop sounds like a must have item, will look into that.
I do plan on getting together with Bill at some stage in the new year. I am currently doing the exact same as you mentioned (fumbling around with many other strategies with no real direction). I have point B in sight but am finding it a little difficult to get some momentum.

Merry Christmas to all,

Derek

Hi Derek

Like Bill has said elsewhere, you can trade options only 1 day a year & still made substantial profits. For me, I won't trade if I can't watch every trade happen before my eyes. If I have an open position, I like to watch it all day, or as long as it takes during that day to reach my profit goal & close out my position before market close. Bill doesn't recommend keeping a position open overnight. I have & have had success, but sometimes I haven't slept as well as closing out my position & taking my money back out of the market.

I've done trades that have lasted 10 minutes that made me profit. I've also held on for days watching the market take thousands from me. Every day & trade is different. Every persons goals are different.

The ASX is open (Options) in Western Australia from 8am to 2pm. For me, having young children, most of that time is feeding, changing, craft & outdoor time. At the moment I'm only watching the market & the Trader's Chatline on Skype while they sleep. I WANT to be participating in trades but have a family to consider & a husband who works.

I have Bill's DVD's. They were my first investment towards financial freedom. I hope your immediate future is NOW and you go ahead with your purchase. I COULDN'T AGREE MORE with Rob's recommendation too - a personal training session with Bill will save you time & money. It will GIVE you time & money. You should just ring Bill & organise that at the same time you order your DVD's. He can teach you some cool tricks. :2tu:

Best wishes for your trading future. You're definitely in the right place to start.

Derek, getting the time is tricky when working full time but I try to get on every day even if it is just for the lunch break, to keep in touch and learn more. Maybe you could work some week ends and have days off during the week or take long service leave as I will be doing.....mate just do it. If you want to do it bad enough and you should just find a way. I bought the DVD's and went to a 3 day training seminar which was great but I reckon a 1 on1 with Bill would be invaluable and get you set up much quickly. The sooner you take positive action the sooner you will be out of the rat race. My sincere advice just find some way of doing it.

Derek,

Yours is a really good question.

I have posted elsewhere in this forum my strategy to leave full time work, but I will state it in brief again here.

I have negotiated with my employer to only work 4 day weeks and take 1 day every week for trading. I will also be using all my long service leave to it's best advantage to ensure that I use it all before 'Retirement' and get plenty of practice trading.

I also agree with Jim "If you want to do it bad enough and you should just find a way."

So best of luck to you, and only you can work out what is best and right for you.

Hi to all,

It might seem to be obvious to me but has anyone thought of day trading at night time. The U.S. markets for instance comes to mind maybe on a Friday night? The strategies that Bill teaches should be universal as most trading systems are eg... they work on currency or futures markets. just a thought to think about.

Regards Mike.

Hi Mike and others!

My sister trades the S&P500 Us index every night and is doing well.. But she hated the late nights and started trading the pre market over there - which i guess is a good idea for some, i think its starts around 7pm aussie time..

But I gave it a go as well, and there is nothing like trading the aussie market.. It just makes more sense.. Easier to relate to stocks/companies, no exchange rate problems and of course better times = better life!

I refinanced my house and quit my job, to give Bill's strategy a go and have enjoyed my first 3 weeks.. I have had an equal number or winners and losers so far, but everyone of my losers was my fault. I didn't stick to Bill's rules and in one case I was a bit too greedy. But from my wins I gained confidence and from my losses I learnt very important lessons.

There really is $500 - $2000 to be made every day (and of course every so often you get a waaaaaaay bigger trade - from memory, BHP returned approx $5000+ today). But practice and patience is key. And once you get the hang of it, you must keep it simple and stick to your plan and not get greedy or scared. The longer you watch the signals and practice trading, the more natural and obvious it becomes. Once you have Bill's computer setup and education behind you, the best thing to do is get a feel for it. Make sure you participate in the chatroom conversations and when there are no signals to jump on a trade, as Bill says, paper trade them anyway! You will learn a lot from papertrading different options on the same stock..

Give it a go everyone.. You will not only learn a new way to create an income, but you will get to talk to (and more than likely meet) a lot of nice people!

ciao
Steve B

G'dat Steve,
Just a quick one from someone yet to make the jump, what experience had you had with options/shares prior to commencing?
Regards
Darren

Hi Darren,

I don't have a lot of experience with shares/options to be honest.

I had a Suncorp share account for 10 years, but only bought shares every couple of years and never made or lost much (I didn't know what I was doing).

I papertraded eminis in Dec 07 and learnt a lot from that. My sister paid for their education and I basically watched over her shoulder and read up on some free stuff (and watched there dvds).

I was lucky enough to meet Bill on the old 21CA forums in early 2008. Through these forums I learnt about Planet Wealth (Bill was a cofounder if you didn't know) and I purchased their 5 or 6 ebooks on different share/option strategies.

After 21CA lost their integrity and a lot of loyal clients, Bill was kind enough to keep in touch and I eventually joined his onedaywealth forum and purchased his Put Spreads dvd and an 8 hr training session.

So not a lot of experience in shares, but I still had to motivate myself to take action. I thank Bill a lot for this, although once my head was clear and I understood the power of options, I didn't need a lot of motivation - I just knew I had to do this. I was able to renovate my house, refinance it and get a tenant in. This gave me some money to purchase my training and it gave me a starting bank balance.

I guess getting started and taking action is the hard part. You really do have to think big and be different to everybody else. In my case, I had to keep a lot of secrets from my close family and friends, because they all thought my goals with shares and options were too risky.

I do want to make one thing clear - the theory behind day trading options is extremely simple. I mean the setup is handed to you on a plate from Bill (once you pay him of course :-)). The signals and rules are simple to understand. The software and actual trading is a cinch! The only hard part is controlling your fear and greed emotions and having a bit of patience every day as you trade. But all the traders in the chatroom are their to support you and of course when Bill is there (which is most days), the attitude of everyone gets even better!

I hope this helps a bit. Feel free to ask as many questions as you like, I have nothing to hide!

ciao
Steve B

G'day Steve,
Thanks for the prompt reply.It's quite motivating to hear your story.All the best with your future trading and i hope to join you in the chatroom in the near future.
Regards
Darren

Hi Steve

Thanks so much for sharing your experiences with us. I have just purchased Bill's DVDs and am dying for my funds to clear so that I can take delivery and get started studying. I did Nick Haliks Options course and traded options for just over a year, during which I lost over half my trading bank. Since the start of this financial year I have been struck dumb by the market volatility and have just watched it from afar. But when Bill's Day trading DVDs come out, I am ready to start again. Meanwhile I will study the Put Spread DVDs and try to get my head around that strategy.

I have read so much about mastering fear and greed and that they would be the biggest hurdles to overcome. I really did not think that would apply to me! That part would be easy for me!.......Not so!!! But I am ready to give it another shot with the rest of you Day Traders when I am trained.

I work part-time, 2 or 3 days per week, some of those being 1300 or 1400 starts, so Day trading should really suit me. But I still think that when I start real Day Trading I will take a few weeks holiday so that I can become very familiar with it all.

Good luck with your trading to Darren, Derek, Mike, Aroha et al. Hope to speak to you in the chatroom some time.

Regards
Carmel

Thank you to all that have posted. I feel alot more comfortable knowing that I'm not the only one coming into this programme with very limited knowledge of this kind of trading. I also am a past member of 21CA so I know how to sell call and put options with recent success, but that is about it.

Look foward to talking again soon.:2tu: