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kingston started following Question on playing the opening gaps and How long does it take to become a successful trader?
Most gaps do not occur on fundamentals. However whenever significant news comes, the markets may gap. This gap may never close. Probabilities favor most gaps filling within the same day. You need to figure out what caused the initial gap. If its just technicals, there is a chance the gap will close. If for example, the CCI report caused a 6 point gap in the S&P I would be careful. This could be a continuation gap.
I have been involved in the markets for about 10 months and have yet to call myself a successful trader. Does anyone know the length of the average learning cycle for a new trader? I had a friend who started day trading NASDAQ stocks back in 2004 and was making minimum 250k his first year. Is this the norm? Thanks