A membership-based company offering stock market trading support has opened in Subiaco.
Home Trader managing director John Day said the company offered extensive training for people wanting to embark on medium-term trading.
Mr Day said the most important step was to establish a system. “We don’t suggest people trade any real money until they have undergone practice trading – which is simply following the progress of stocks you pretend to have bought,” Mr Day said.
Home Trader member support is based mainly on trading price fluctuation analysis.
Members have access to the company’s trading room and computer room so they can conduct their trades in-house or at home.
Beginners classes in computing are also offered with membership. “Of the members who have completed our training program, we’ve had an 80 per cent success rate with the trades they’ve completed so far,” Mr Day said.
He said a significant aspect of risk management was focussing on only a few trades in the market at one time.
He said some members needed to trade 20 minutes a day to match or surpass their normal income. “An example is Barbara Edwardes – one of the four founding partners of Home Trader – who started trading with $5,000 and wound up with a $94,000 profit for the year,” he said.
