advise needed pls

Discussion in 'Professional Trading' started by watup, Sep 13, 2010.

  1. watup


    Hi All,

    Thinking to get some insights and advise from anybody who have been trading and/or investing, regardless successful or not yet successful

    It might be useful if i give a quick background abt myself

    I have been working in Banking industry, for abt 3yrs plus now. I am 24 years old, and currently based in Singapore. My goal would be being financially free before 30.

    I have been trading stocks since July 2010, and luckily, I have earned small profits since then.

    my medium - long term goal would be becoming a successful trader and/or investor (perhaps, combination) - because i do not like the idea of working for other ppl.

    As for now, i am thinking to saving up some capital, and I am now looking for a job (as security analyst or swing and or day trader), learn as much as I can, and by the end of 2 yrs (2013), I would want to use the saved capital, and start investing by my own.

    what i do now, is i save up, abt >60% of my income, and put apart some of it to my safety, and investment baskets.

    I will keep developing my fundamental and technical skills during this 2 yrs period described above, and hopefully, will be ready by then

    I honestly still am sort of confused on what i would want become (day trader? swing trader? or purely fundamentals - like warren buffett). I do like value investing, but was thinking to make a steady income from momentum trading - hence would use the combination of the techniques.

    I was wondering if anybody could give me some advise on:

    1. what sort of preparations that you guys did, before becoming full time professional trader or investor. any useful books or websites that you could recommend

    2. what sort of mistakes tat u guys made, or what would you do differently, if you were to start all over again frm the beginning.

    3. i noticed that you need to sort of use system for day trading. any recommended system, and if so, how much does it cost?

    4. any other useful advise that you can give me?

    Thank you very much for your time,

  2. I'd just rob a major bank (a solvent one) and then hide on Orchard street.
  3. Looks like you got lucky lately & feel like you're a "trader".

    Come back when you get your butt kicked hard & we'll "talk".

    Until then, you won't really be "listening" because you're on High St.

    BTW, where have you been investing? Asia or US?
  4. 1) A "goal" of wanting to make a lot of money so as not to have to work anymore nor for other people is doomed to fail. Your goals should relate to what you will actually do and to keep on doing that.
    2) You can expect to have to "learn everything about everything" and then forget what is of no value for you.
    3) To save 60% of your income seems impossible, even if you have a "large" income to begin with.
    4) Income from trading will tend to be volatile. You can expect to have losing periods.
    5) Keep your dayjob always in order to have steady income. :cool: