Hello everyone from ET, I've been lurking around for a long while on this site just looking around and things like that. So here is a little about me, I just turned 19 a couple of months ago (yeah, I know. I'm pretty young) and I am a junior at the University of Washington pursuing a degree in applied mathematics. I've been looking at the markets for quite some time now. I do have an account with about $3k in it. So far i'm just "treading water" with my money. Trading for a living does sound like a very nice career, but I know that will not happen anytime soon, if not at all. Of course I will be applying to other jobs after/before I graduate, but I would like a kickstart with my trading plans and begin to make money and have a hefty retirement fund in the future So if there is anyone who is able to help me out and maybe become a mentor of mine? That would be awesome but if not, I sure can use some tips you might have to offer. I need all the help/advice i can get! I know this isn't as easy as people make it seem, but I am committed and will put my 100% into this and work hard for my goals. Thanks for all of your guys' help I really do appreciate it.
In a few years you will blow $3k like a fart in the wind on a fun weeks vacation. It means a lot more to you now then it will in the future. You will lose it either way most likely starting out. Learn as much as you can while doing it and make it last as long as possible.
Hi Kevin, I am a private trader using my own funds only. I trade forex EURUSD with 4hrs charts and indicators making about 150 pips a week live and >250 pips a week on paper. 2 trades a week on average but watching the charts at least every 4 - 8 hrs which is sometimes not possible for me. Here my suggestion: trade my setup on a demo with Metatrader until you are consistently profitable. Then trade for me live, starting with a low amount. We share the profits on a to be agreed basis. Account managers, usually take 20 - 30% of net profits using their own discretionary approach. Felix
I also suggest to give part of your profits to charity publicly, that will drive you more than anything.
u should post this quote on your fridge or next to naked women calendar photo hooked on your wall: More than 90% small traders lose in a "Spectacular Fashion." They just lose!!!!!!
Good for you, bud. I wished I would've started trading at your age. The best thing you got going for you is time; lots of it. Don't rush by burning your bankroll, unless you're consistently making money. Use this time to read and study AND most importantly start developing your trading strategy. By the time you hit thirty, you could retire.
Hey, I'm 18, I started trading when I was 16. My advice is that your studies should be your main focus. Trading should be treated as secondary while at college and should be implemented only in your free time. I neglected this for a very brief period of time, but luckily my tutors spotted that my work quality and attendance were suffering and I was re-balance my priorities. Chris
It could take a while, but eventually, after learning a lot, don`t believe anything until you can prove it yourself. Question everything. That includes the old wife`s tale of 90% of all traders loose money, or doji candles always signal market turnarounds. Test it yourself or dig for the appropriate research and never loose more than you are comfortable with.