Some good advice from Max Ehrmann : Desiderata Go placidly amid the noise and haste, and remember what peace there may be in silence. As far as possible without surrender be on good terms with all persons. Speak your truth quietly and clearly; and listen to others, even the dull and the ignorant; they too have their story. Avoid loud and aggressive persons, they are vexations to the spirit. If you compare yourself with others, you may become vain and bitter; for always there will be greater and lesser persons than yourself. Enjoy your achievements as well as your plans. Keep interested in your own career, however humble; it is a real possession in the changing fortunes of time. Exercise caution in your business affairs; for the world is full of trickery. But let this not blind you to what virtue there is; many persons strive for high ideals; and everywhere life is full of heroism. Be yourself. Especially, do not feign affection. Neither be cynical about love; for in the face of all aridity and disenchantment it is as perennial as the grass. Take kindly the counsel of the years, gracefully surrendering the things of youth. Nurture strength of spirit to shield you in sudden misfortune. But do not distress yourself with dark imaginings. Many fears are born of fatigue and loneliness. Beyond a wholesome discipline, be gentle with yourself. You are a child of the universe, no less than the trees and the stars; you have a right to be here. And whether or not it is clear to you, no doubt the universe is unfolding as it should.
Stay away from day trading,short term trading,you will not make it If you are that driven to succeed you probably will achieve something in every other field of your choice If you need to be in the market buy new technologies companies when they IPO and hold it for years,with these profits invest in tangible assets or invest with people who have a proven methodology,their track record will prove that. Diversify,hold your investments long term,all asset classes have their booms and busts sell when you made a decent profit. And most importantly don't be a punter,spend your life like a heroin junkie getting a hit (good trade now and then ) If you realize this might be a gambling addiction seek help. The few very successful are what they are born with specific talent, you have slimmest of chances to point and click your way to prosperity be smart You think you will take money from the pros and and on top of this there is many crooks in this industry who don't stop thinking about devising different ways, even legal to take your money
The mother of all advice - preserving your capital is always priority #1. Do this and eventually the profits will take care of themselves.
Im sorry Visaria, but he has a point and unless you have been exposed to intraday trading at a professional level, you do not know enough to weigh in.
Be Around Winners! Be around people who have been there and done that. "Be around people whose behaviors are better than yours and you will drift in that direction," Warren Buffett.
Interesting thread. I'd like to drop out some what Ive learned from others from different sources: - Study charts religiously - To make more money, risk less - Admit when you are wrong quickly, the quicker the better - Have so much faith in your system that your stress level is low - Find a style of trading that fits your personality and makes your money - Warren Buffett quoted regarding IPO "You don’t have to really worry about what’s really going on in IPOs. People win lotteries every day but there's no reason to let that affect your investing strategy at all"