Discussion in 'Professional Trading' started by innovest_11, Jan 23, 2009.
Any fulltimers can give any useful advice to me, thanks, kind of scary...
Whatever you do...don't look down.
I would advise you not to turn full time until you have a decent edge i.e something that makes for sure no losing month and preferably no losing week. I waited 6 months of no losing week before turning full time in January 2008.
I have been swing trading for 5 years, 1 year day trading, have recently 8 winning months out of 10 months, but still afraid that my mentality may change after go fulltime...
I am full time due to unemployment haha. I have no advice except a month in I am kinda bored. Gym for an hour. GF bullshit for an hour. Trade for 3 hours. Sleep for 7 hours. Then there is so much time to kill, and I dont want to go back to being an alcoholic cause then I wont go to the gym lol.
Maybe if I break it off with my GF I can chase tail 8 hours a day.
I am about to go fulltime in the next month as well, and I am slightly freaked out about it.
So much I dont know, still time to figure it out, but nonetheless, a bit worriesome.
have 3 yrs of living expenses in your saving account.
learn to trade HSI, so that you can trade 24hrs around the clock.
Umm... Why don't you hold off until you feel more confident about things? With an attitude like that, your 8-ball is already sunk. Backtest your strategies until you have something that works. That is a great way to gain confidence.
Ditto that...first couple of years will hurt...you'll likely lose money even with an edge...you'll blow out first 2 accounts...so don't sink all of your capital into it. Have 3 years of living expenses saved up, because it'll be then before your profitable...unless you're a prodigy and thats not likely (no offense, just the truth). Just remember the part about blowing out 2 accts...I did it before FINALLY getting a clue and a handle on emotions and so did a lot of others...the trick is to only lose THAT capital...not ALL your capital. If you have 100K to put in...do it 33K at a time...then after 1 year of success...then put in more...but always have that "rainy day" fund.
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