Hi Guys, Haven't posted here for long but I assume there are a number of thread of this sort so I'll keep this short. I want some feedback/thoughts/citrique on my business plan to become a full time day trader. First and foremost I do not need be warned about how difficult it is to become a conisitantly profitable day trader, so please there are enough threads addressing it as a "pipe dream". My reason for wanting to be a day trader are numerous, but number one is passion for the markets, I love (from what i've read seen understood thus far) how they move, the unpredicitably, the human element, I do truly find it fascinating. Freedom, I want to work for myself, I work in a job that while pays me very well is not something I want to do the rest of my life. The financial gain, yes I do want to make money from it to enjoy life however I so wish. 5 year plan 1. Study accumlate market/trading information/strategy for 9 months, again I know this is a process will never stop but I want feel comfortable in what I'm doing, assessing theoretically what trading strategies would suit my personality best I've come to understand is probably one of the biggest key factors in being consistant, so I do want put a lot of time in the theory before even thinking about the practicle (again please don't mistake what I'm saying as me expecting to find a strategy thats "tailored to me" in 9 months) 2. Paper trade for three months, from what I've researched this could almost be seen as useless, paper trading is nothing compared to trading with real money, again this just to climatize myself and start instilling discipline from the offset (again something I've notice seems to be huge). 3. Beginning of year two, start trading my own account. I haven't put an exact figure on it but I'm thinking of 10K for my first account, again I'm constantly trying to find the fine line between caution and being ballsy, the reason I'm using so little capital is that I recognise that I have many personal traits that I need to learn curb, get rid of all together in order to become consistant. I am very patient but am emotionally involved (I only have my current job to compare it to, which boy can you tell when I've had a shite day lol!), I want to use this year to hone, refine, learn, hone, refine, learn. I think ones greatest strength is knowing your weaknesses... I think I have good enough idea in where my pitfalls will be but I want a chance to learn by experience as well as hopefully taking sound advice where I can get it. I will do this for year, again my expectations goals for this year would be not be consistant so much but atleast be able to identify where my short comings are, go back refine, learn and hone. I hope this year will be learning process about myself. 3. If forwatever reason I've blown my account, we'll go with another 10K, Year three, refine hone and learn (I believe I will never stop learning the markets) but in this year my strategy should be refined enough to have an edge and I should have made enough mistakes to know what rules I need to follow (I'm sure my strategy wont be perfect) but I atleast want it to be consistantly profitable and I want to be trading with discipline and conviction. Again personality traits that I have I'm sure will start creep in (confidence) and I'll learn to curb that. But this is the year I want to be consistant. that is my goal. 4. Year four, now I need to make sure I'm maximising my trading strategy, by now I feel I confident in my ability (see look at the arrogance already creeping in lol) but I want to know where or what my limits are, how far I can push it, where do I draw the line just so I can recognise these signs in the futre and be fully aware of what I can can't and shouldnt do. Thus becoming highly disciplined. 5. Year five, again another 10K my biggest fear of this year is my expectations of having a good year, I can't predict what the markets will do I know but I'd hope I'd have the adaptability to be successful in this year, my discipline should be well drilled into me and the excitement/dissppointement of gaining and losing should now be gone. If this happens, I am consistant and know my limits, I believe I am ready. Year 6, quit job, probably kit out my office at home, I will be captilized to tune of around 120K-150K and begin day trading full time. Things I'm still pondering on: How should my actual targets be set, should it be what percentage of my trades are winning, how much money I make in a single day? Any thoughts/advice on this, I think this becomes more key in year three and five, as these will give me real indicators. I could always go on the basis of feeling like I'm doing well but I think that adds an emotional element which I'm trying to stay as far away as possible from. Am I over capitalizing my self, in terms of my thinking for using these set amounts is purely because I want to get used to the feeling of it hurting loosing money that is a signficant amount to me in order to become numb to it. But maybe if I managed my risk that could/should be a feeling I never have to get used to... I'm not sure what is the most appropiate mentality to this. Does my plan negate the affect of such a large jump in capital when I finally do decide to go fulltime, I'm hoping due to discipline and practice it shouldnt matter whether I was trading 5K or 1million. Any thoughts feedback critique much appreciated.