FrankSpeech Network Inc (FSBN)

[phowell23]

OT: Goldrush - I trade while working.

It's a great thing. Although obviously I can't put forth 100% into trading while working I can at least monitor the message boards, news sites, and I keep my Time/Sales window in the corner of my screen for GZFX pretty much all day. I use Scottrade now but if I were to do alot more trading (which I aim to do in 2006) I think I'm going to switch over to Ameritrade Izone ($5 trades on OTC stockshttp://www.izone.com/costs.html ). The high commission's with trading OTC stocks on Scottrade hurts ($7 + 0.5% of trade amount which equals several hundred dollar commissions on decent size trades). I would ask alot of the traders over on BB's Penny Haven ( http://www.investorshub.com/boards/board.asp?board_id=2199 )what they use for OTC brokers as there are several posters that claim to trade for a living that regularly post there.

Do you have a proven method to trading that seems to work for you? One thing you have to remember is never set DAILY goals but only set Weekly goals (that is if you must set a goal at all). That way you normally will hit your weekly goal or exceed it but if you set daily goals you will end up making careless trades towards the end of the trading day to try to make your goal. I would start small like say $250 profit/week and once you hit that work your way up. When I started trading about 7 years ago at the age of 18 I was all about trying to become rich overnight so I was trying to hit a $500/day profit goal. I did it for a few days then slowly lost it all as I was inexperienced (I still consider myself inexperienced), and just too damn anxious to retire in my early 20's.

Learn how to read charts like your backhand but I wouldn't recommend trading off 100% charts - mix it with current stock news/happenings and current trend. A great place to learn about stocks is IHub's Stock Chart School ( http://www.investorshub.com/boards/Board.asp?Board_ID=4084 ). Very pleasing posters over there that are more then willing to help. Stock Analyzer (usually goes by SA) always answers my questions via post or PM. 4godnvw helps mod over there as well and also does an excellent job creating/interpreting charts. We are blessed to have some great chartists here such as Fringe, Frankie, Jrod, Simple, Glassy, and several others.

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So basically what I'm getting at is:

(1) don't quit your job until you have a proven method that works for you and you have at least several months worth of income saved up just in case this doesn't work out for you and you have to find another job

(2) start slow and aim for small profits (like $100 a day max)then slowly increase your efforts if everything is working as planned

These are things I have read over and over again on online message boards and books.

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As for me I'm still trying to find a proven method - my day / swing trading has taken a back seat at the moment as I have moved most of my money into GZFX for the time being. Although in early 2006 I'm probably going to sell a small portion and use that to day or swing trade with.

Good luck to you! Let us know how everything turns out.