Hi guys, Just wanted to find out if there are any full time traders trading for thier own account? I figure Chartist is. Anyone else? And if so, how did you get started? I am looking for a little motivation and if there are any stories of anyone who has gone from working a 9 to 5, to trading their own account successfully, I would love to hear about it and the lessons learnt along the way.
no that was serious question.....I would say if u define a living as covering your monthly expenses then trading for a living is near impossible....cause then u have made 2 mistakes....u have defined "a living" wrongly and u are doing it for the wrong reason.....if however it is something you do cause u want to and it just happens to cover MORE than your living expenses then that is what u will be able to do...
Crown A , jealousy makes u nasty? You dont need 2bar to risk 2bar, you only need 200k for that, but should risk all of the capital 100%. I also only saw a comment of only risking 2000, which means R2,000, no bar in there. Was wondering what the A stood for? Maybe the thing on the opposite side of your head perhaps?
well I think u have to be gifted with an unwaivering belief the magnitude and vervour of which U will only find in a reborn as a carnival float full of parading queens pass by that in life there is always a better and easier way of doing things (read lazier)....coupled with that the belief that the hand u are dealt is not the hand u have to play ...u simply have to move to another table...and u have the embryonic stages of a trader's development
I think honest questions and decent threads are being wrecked by selfishness. Chartist, you are indeed very clever and witty...but I wasnt looking for that when I started the thread. Posting seems pointless if the thread is going to be used to vent feelings.
A bar (also called a pub or tavern) is a business that serves drinks, especially alcoholic beverages such as beer, liquor, and mixed drinks, for consumption on the premises. Bars provide stools or chairs for the patrons along tables or raised counters. Some bars have entertainment on a stage, such as a live band, comedians, go-go dancers, a floor show or strippers (see strip club). Bars that are part of hotels are sometimes called long bars or hotel lounges. The term "bar" is derived from the specialized counter on which drinks are served and is a synecdoche applied to the whole of the drinking establishment. The "back bar" or "gantry" is a set of shelves of glasses and bottles behind that counter. In some bars, the gantry is elaborately decorated with woodwork, etched glass, mirrors, and lights. When food is served elsewhere in the establishment, it may also be ordered and eaten at the bar.
Allo Jonno. I think it is essential that you have some sort of backup or reserve resources if you're going to have trading as your job - whether it means living in your folks' garage, off your wife (best option me thinks), inheritence or whatever. You need to be able to sit out the lean years (figuratively). I reckon, you must keep enough aside to be able to go bust at least twice. If it happens three times, perhaps you should reconsider trading. I basically went bust twice starting about 18 months ago. I had enough resources to keep me going during that period, without having to cover my monthly expenses in trading. I know what it's like to trade on your credit card, while I don't neccessarily recommend it... For me the best teacher was experience. You need to feel what it feels like to make 123% on WAVES in a morning and what it feels like to loose it three days time. You need to TRY different strategies. Keep records. Learn from your mistakes. Go to all the SB courses. Time, patience and intelligent work and you will make progress. It also dawned on me that what you can do (in derivatives) with a hundred thousand, you can do with ten or twenty thousand. The difference is a couple of successful trades. Use that as the test. The converse is also true - if you can't do it with 10 or 20 thousand, don't be tempted to try with 100k. Earn your trades. Let the market do the work. The most difficult thing to do is to do nothing! I guess if you don't have significant resources to start with, you need to start at 0. I wouldn't expect overnight success. Just persevere. Good luck. The freedom of not having a boss or to depend on an organisation is such a rich prize that you should give it your very, very best shot.