Hi everyone my name is Rafael, and I am a active day trader mostly trade the sp500 and the nasdaq. I also like to dabble in and out of GLD and SLV. Looking to hear everyones insight to their view on gold or silver. I am not a bear or a bull, just a trader looking to make some money.
Welcome aboard Rafael. It does seem that both gold and silver have been fluctuating wildly enough for day traders to make a killing (or be killed) with short-term speculation. How do you time the market to get it right?
Hi Peter! Short term I'm pretty much a pure technical trader on GLD and SLV. Reading the patterns, gaps and fib retraces. For my mid (2+ months) I match it up US dollar index.
Rafa what qualifications, if any, did you attain before becoming a day trader and how did you get into it? How long have you done it for? and what would you consider the minimum amount of cash one must have before they can begin the process?
If you have the time and money to stick it out for the long haul then Gold and Silver trading are right for you!
No real qualifications, besides making money lol, but yeah I don't have a great degree, or anything. I just constantly am learning and adapting to the stock market. I got into it because of the money, but because of that physiology is why I lost money at first. You need a minimum of $25,000 to day trade, but I recommend $30,000 for a buffer.
