I have tried daytrading as well and I must say its very difficult! You are most likely to have losses at first. I switched my strategy to short term trading and found it to be more profitable and less stressful. I quit my job a year ago to do daytrading and now as as many young eager traders found out that it was a little to early for me to do so. I realized that I can easily short term trade since most of my research is done after the market has closed and once again go find a job. Since it seems like no one is hiring these days anyone have any suggestions? I got an accounting and finance degree and have a few years being an analyst and an accountant! I would love to work for a hedge fund or investment firm in NYC! Any suggestions would be great! And best of luck to all coming newbies!
Hahaha, Trust me, it will pass. There are many reasons why staring at the screen with serious focus for hours at a time is bad for your mind & body. Besdies that, it does get old quick.
Sure.. http://www.amazon.com/Law-Attractio...1704636?ie=UTF8&s=books&qid=1188922363&sr=1-1 . To be very successful at trading you have to control WHAT you focus on everyday. What are your Micro goals that are feeding your Macro goals that are leading you to your objective with INTENT. When you can "fix" your psychology to be an actual ADVOCATE to what you are trying to accomplish (instead of controlling and mis-directing you from limiting beliefs and subconscious fears), then you will build the foundation for a successful outcome. You can't be psychologically "adrift" and have consistent trading success..just wont happen.
The book is awesome...you would have to read it to see why (which it is very obvious you have never done). This is by far the best book for a trader to read to have a very positive and immediate impact on their trading and overall trading objectives....bar none imo. For instance, "Trading In The Zone" tells you about the problem but never gives a SOLUTION.
was just wondering, lets say all those that tries to apply the principle would tend to be -ve thinking people, well so each time they apply the principle doesn't that merely re-enforce their thinking that they r -ve type so need more +ve thinking, so sort of like achieving its opposite effect ??
Not at all...it is way more dynamic then you show as an example. When you learn about yourself and start to change the way you think, it is not just about positive thinking at all. It is about making all of your thoughts and actions efficient to what you are trying to accomplish in trading (in a micro and macro thought sense). This method of thinking creates actionable INTENT, versus the daily psychological "adrift" state that most are in when they trade (not having a clue as to why they are doing most of the non-constructive actions they are doing). The bottom line....either YOU are in full control of all your thoughts and actions or something else is. So which example would be most conducive to becoming profitable as a trader?
here is another suggestion for you. Go to www.puretick.com and look at some of their videos. They helped me a lot.
Your honest post is something the "300% annual profit made easy people" should read more carefully. There is too much "Rah Rah, go for it!!!. The hell with your wife and kids and supporting them and your good job!!!" When in reality, they should be studying the high failure rate of leveraged traders as possibly something that might apply to them... As a famous quote once said, "everyone comes into this thinking they are the next Jesse Livermore"