part timer can it be done?

Discussion in 'Prop Firms' started by wanttotrade77, Jul 23, 2007.

  1. Working full time and trading part time. And your goal is to eventually trade full time after three to 6 months of trading part time!

    I would not give yourself a time frame. And I wouldn't start trading with money, if your supporting your family. Just an idea.

    But I would start analyzing markets, studying, looking for a stratedgy that you understand and can properly execute in theory. That way you can then start to trade based on it, in very small lots, 100 to 200 shares max, and learn to "execute" your strategy properly without expectations of gains.

    Then once you find a strategy that works at that level, and consistently, move your lot size up, only as long as your profitable, and succeed not by profits, but by proper execution.

    Then you will be focused on your skill set, not the profit/loss, which is not a true gauge of your strategies success.

    Expect this to take years, maybe 3 or 4 part time, and if you beat that time frame, then great. Trading is a more disciplined and boring job than any you have done when execution is your focus not roller coaster excitement.

    Guys who think this is going to be profitable too quickly get dissapointed, and those who think it's exciting watching your profits etc. Don't last long.

    Execution is all that matters, that is where if you put your focus and enthusiam, you will become extremely successful, the money will take care of itself.

    3 to 6 months, your setting yourself up for failure, because you have set your mind in motion, that if your not profitable and can't move to trading full time by then, what your a failure? Hardly, take your time, no need to rush, enjoy the ride and stick with it, if it takes 3 months, great, 3 years, great.

    #11     Jul 28, 2007