I've read spans of trading strategy books lately that encourages one to get in touch with baseline objectives. What is your goal? Extra cash for lifestyle/lunchmoney? Financial freedom/escaping the ratrace? Need for toys, cars + impressing folks? What motivates you to offer up hours and hours of your free (and work) time for the petite possibility of becoming a consistently successful trader? (Only 1 in 5 people make money doing this!) I've set 12 months aside and spend on average 20 - 25 hours a week immerged in TA, developing systems and learning about trading. Are there other folks this motivated to become successful amateur traders? My own motivation stems from the intrigue of the theory behind technical analysis.
Hi Liquid - I've done the 12 months bit and it is worth the effort - I am now seeing the results of all my TA experimentation paying off in a reliable system that generates cash almost at will. Keep at it.
Been trading for about 3 years and love it.Before I got into the market it was just meaningless rubbish I saw on the news,but once I became involved I wish I had started years ago.I now spend a large amount of time doing analysis and following price movements.Will never stop unless of course I become a statistic of the insolvency court.My wife and I own a small business which she basically runs from day to day,so trading is my input towards the monthly income.Am I successful........?Getting there.
been investing off and on in the market since the late 90's (the heady days for Didata et al!). always wanted to do more active trading, but lack of time (due to work) and tax concerns kept me out of it until very recently. personally, am intrigued by the mathematical/probability side of TA, as well as the potential (albeit still difficult!) for an income stream. ideal would be to be able to trade for living, but tough road to get there. have some free time in the days now, so best chance ever to give it a shot. nothing ventured, nothing gained. just dont venture your life's savings, the house, the kids, the dog, the wife (ok, only in exceptional circumstances! ;) )
Asylum, time spent learning is always worthwhile. Sure I make money (being in a bull market helps), but my long term objective is being consistently profitible. My goal is being able to both derive a regular income from trading and sustain portfolio growth. Active trading may or may not provide me with the vehicle to reach this endpoint. Like I said - I'm willing to donate a couple of months of my time to find that out.