$50K jobs are very rare in my country, most of the people fight for $20K jobs or less. I have no job, I like to travel and I have other sources of income, so $3K extra from the markets will be nice. I started trading stocks 11 months ago with real money and small account, I am testing the waters on this.
The reason we are ragging on you is the get $ fast crowd churn & burn at an alarming rate. Traders that make it have an unconditional persistence. There are some shooting stars that have some good luck early on, they always end up giving it all back and than some, ending up mentally devastated. Now if you are talking about making a commitment to put in work every day to learn all you can about trading/investing and can be content doing nothing but treading water while on the long & challenging learning curve than you have my respect.
Agree Market Wizards outlines my response to this well. What are these basic concepts? I believe that developing a trading methodology that fits your personality, as opposed to seeking someone else's approach, is an absolutely critical element to succeeding as a trader. Why do most traders fail? There are many reasons. They seek easy answers. They listen to "experts" and chase trading fads instead of doing the hard work of developing their own methodology. They listen to other people.
%% Great book,XEla ,far as charts. Marked+ colored mine up like a kid's coloring book LOL . BUT do not expect to make much sense of many of his words; but his charts are like= a picture is worth 1,000 words. BUT i showed my CPA a chart of one his favorite profitable stocks- he did not like charts- he enjoyed simply doing a study of huge numbers of data, in a row, like US Tax forms , which he worked with for many years.. So for those who may not like charts ;skip that book i say......
I'll be honest: I hate the book and found it unreadable. (I don't suggest it's a "bad book" in that its content is "wrong" or "misleading" - I just dislike it a lot and think it's neither well written nor well edited.) I'm glad you posted, because you've given me the opportunity to point out that that wasn't in any sense a "book recommendation": I mentioned it only because you can read the first few pages of it free, at Amazon, and it does - just like many other "swing trading" textbooks, admittedly - clearly make the point, right at the start, that swing trading is unrelated to time-frames. (Call me pedantic, but it pains me to see "swing trading" differentiated from "daytrading", in forums, in terms of the duration of the trades: it's a seriously misguided perspective.)