Get More Money, meanwhile, here's a couple links to start By the time you get Lined Out, you'll have more money. Get More Money... A solid trading plan https://elitetrader.com/et/threads/what-would-you-say-belongs-in-a-solid-trading-plan.340340/ Every Trading Method Known to Man and Beast? Right Here Baby! https://elitetrader.com/et/threads/...t-right-here-baby.335635/page-10#post-5014575 How Soon Can You Do This? Suppose your paycheck was based on percent entry triggers correctly taken? https://www.elitetrader.com/et/thre...ercent-entry-triggers-correctly-taken.343345/ mnq
My best and honest advice is to forget about is since like everyone else I think you have no conception of how difficult what you're trying to achieve is. Forget about all the stories you hear about guys making a shitload of money off daytrading. They're either very lucky, very experienced/professional or a little bit of both. If you're serious about this - except at least 5 years of trial and error before maybe getting somewhere. The failure rate is very high in day trading and it's really a very marginal business as there's not much room for error and you're pretty much successful or not. You'd be much better of trying to focus on swing trading stocks, IMO, while maintaining some other job or enterprise which gives you income.
Guys at Harvard are willing to pay 50K tuition fees per year to later earn 80K in average. Guys at EliteTrader are willing to pay 1K tuition fees per year to later earn 1M in average.
Sure there is a chance to earn 1M but you have a higher probability to be like him: https://www.elitetrader.com/et/thre...ter-seeing-a-730-000-negative-balance.346343/
It is a tough business. My humble advice is to keep a day job, save and invest your saving. In the mean time read up on trading, select an instrument you like, are comfortable with, do backtest and run sim trading for a while honing your skills. Once you are comfortable that your methodology produces positive expectancy both in backtest and sim, then go live and hope for the best. Chances are even if your method produces a profit, it won't work forever, you will have to constantly adjust your approach to match the market situation and so it is a constant learning process for as long as you are in this business. That is why I am here. Good luck because you will need luck.
As lame as it sounds I'd like to make a living at it. I have read that some of the traits that a secsessful day trader possesses I seem to have. I play fantasy football in competitive leagues and I know this might sound dumb but I win a lot because I love to anyalize and trade players. I have always fantasized about working from home trading stocks but never had the time to learn it. I'm determined to at least learn it now that i have time due to covid. Thanks for your advice
Take the time to study why day traders fail. Then don't do any of that stuff. If you were trying to cross a busy street and 9 out of ten people that attempted to cross were hit by a car, would you be as eager to try?