The knowledge and tools needed to learn to trade are in the public domain. But a person needs more than mere knowledge. Skills and experience are also necessary. A person gets those by doing; specifically, doing successfully. This is where most people trip and fail and risk damaging their minds permanently by repeated failure. Examples of people with permanently damaged minds can be observed on this site. In reference to the topic of this thread, trading for a living through day trading, it is a rehash of the eternal small dream of the modern working stiff seeking an escape. Anyone who has been trading for a while knows he doesn’t need to trade for a living. The markets exist to transfer money into your accounts set up to collect across various market fractals. Day trading futures is a lifestyle choice. Day trading for a living is for people who are barely making it.
%% LOL good points; not sure out the perm damaged minds part. That trader learning +blaming market makers may make it. A perenniel loser will snarl @ anyone tellin' him the truth, like an attack dog
Here’s my free teaching about trading. 1. You got to have an edge. You’ll know when you have it after 5, 10 or 20 years. 2. Discipline is paramount, especially risk management. 3. When you have 1 but not 2 you will blow up sooner or later. When you have 2 but not 1 you will at best become a marginal trader, never being able to make it big. 4. Work hard on 2 and hopefully get lucky on 1.
You're trading only 1 NQ contract after 20 years experience? Who did you learn to trade from? Ken Calhoun?
The market allows everyone to reach their goals. Whether it's obscene wealth, gambling addiction, or just a moderate living. Moderate living is super, super easy once you get the hang of it. Sounds like Jordan wants to have a moderate living. What *is* he going to do if he makes 35 million/year other than just look at it.
My risk tolerance is not very high. If I would go much higher I "would mind" losing and it would bother me. As a result, it would affect my trading decisions. So, I trade at a level where "I don't mind" having a losing trade. This is actually a key factor in my trading. It took me quite some time to figure this out. ;-) My recommendation to beginning trader: lower your risk - and then lower it again!
Losing trading this early morning short ENQ -$875. (I usually don't trade the night session. Now I remember why ;-). Winning trade short ENQ after the day session open $1,940. We are trading at the overnight lows. Need to wait to see what will happen.