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Does anyone here trade for a living?

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Not applicable
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.
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33 REPLIES 33
Not applicable
Oops! Sorry Nala, just saw your new thread asking the same question as mine! Seems like a good topic for today!
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Not applicable
Hi Jonno...whats considered a living?
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CrownA
Super Contributor
Yes Chartist, we saw your risk of 2bar on the other post. We talking about real people, not rich people like you.
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Not applicable
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...
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ian_kotze
Regular Contributor
I do, but fortunatly i do have a little rental income to help me when i loose my cool.
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JohnnyCash
Super Contributor
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?
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Not applicable
yes...thats exactly what I am talking about...u need a big cushion or a plan B...which is either there or can kick even before you have obliterated your hard earned cash...
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Galuc
Super Contributor
I love trading but like my singing voice, I will never give up my day-job. It feels like I am hammering a moving nail somedays! Bloody frustrating.
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Not applicable
err that was in reference to Ian's post..Johnny dont be nasty...one cantankerous venomous queen is enough for this forum...
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Not applicable
Ja very good analogy.....but thats when u need to put down the sledgehammer and get out the much smarter and much more dainty nail gun...same effect u just use less nails and get less hurt...
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SKALA
Super Contributor
En ek dog toe jy het jou "cool" en humor sin verloor; goed gedoen!
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Not applicable
Ian and Chartist, How did you get started in this business?
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Not applicable
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
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CrownA
Super Contributor
Thanks for the laughs.. I like it when you correct me for my errors - I am thinking of a retort, but you are too good for me.
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Not applicable
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.
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Sugar_Snap
Frequent Contributor
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Not applicable
cake: a block of solid substance (such as soap or wax); "a bar of chocolate"
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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.[1] 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.
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dookie
Regular Contributor
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.
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