Hello SweetMaryJane69, Great question. I do not have any trading advice for you because I am not a consistent profitable manual trader for more than 1 years. It is against my rules to offer trading advice if I am not profitable yet. Thank you,
To be honest, I'm not sure if any of those methods are worth pursuing. Be careful who's advice you listen to. As a neophyte, it's very easy to be impressed with knowledge and teachings which makes sense and may seem logical, but live trading is where the rubber meets the road. There's no substitute for experience, so make sure you're prepared for a long journey as no book or guru can give you that.
Hello deaddog, If everybody did that, everybody would be more productive and less time wasted. I have NO advice for anyone about trading manual day to day. It would be stupid for me to give someone trading advice if I am not making money trading. Once I start making money for +1 year, I can share some advice. If anyone I ever gave advice to trading, I am sorry, PLEASE ignore everything I said.
%% Plenty\LOL........And plenty more \with leverage like ES. But since he asked in education section+ not derivatives section ; he may have a prayer. EVEN more so of a chance \if he trades some US dollars for trading/investing books. IBD newspaper+ Jack Schwager Top Trading Books may help\they helped + help me.............................................................................................................Wisdom is profitable to direct
Reason why I liked the said post is that I understand trading is not for everyone, and there are millions of ways to make money anywhere, but it is extremely hard to find a consistently profitable way. It is never wise to put all eggs in one basket. I don't see any problem trading when market is most active and conducting business in afterhours. More streams of income is always better than rely on a single source. Just my two cents.
%% I dont think becoming skilled in trading is a poor choice; but it's among the rare ways to make millions, compared to investing + other business. [Source=Millionaire Mind book +40 years of observation] Personal-I think a trader/investors\market maker /specialist, are is just as important as a doctor, fireman or cop. But i never made a doctor responsible for my healing / health ;that's my job. Good comments, tw.
Something being "extremely hard" is not the same as agreeing with the idea of that same something being a poor choice. Also worth pointing out... the terms difficult, extremely hard, etc, are subjective. I believe ANYONE can invest successfully with an investing 101 understanding of markets and/or a 201 level of knowledge of the specific instruments investing in. I also believe the same to be true for Trading, but with a caveat... Not to be confused with the fantastical amount of inert knowledge found here on ET, everyone has innate talents and predilections. The question is, can talents and preferences be honed into one or more useful trading skills? Is the person interested AND willing to develop those skills? Done successfully (also a subjective term), investing and/or trading can be THE ONLY income stream needed. Unless you want a new hobby.
I started and sold a business. It was the most exciting and enjoyable experience of my life. People from the outside always said, "I don't know how you could handle the stress." But really it didn't feel like stress. It was invigorating. There were challenges but through hard work I at least had (the illusion of?) control. On the downside, it almost destroyed my marriage and I could have made more money had I just remained in the cushy corporate job. (Though I would be stuck in Houston; I've lived in Denver for the past 11 years). Much respect to those who successfully make a living in trading. It is difficult. Will probably remain a hobby for me until I fully commit.
I think people come to speculating after already having learnt a useful skill. Thats how they tend to get enough money to open an account in the first place. For most people speculation is a side hobby that has the potential for riches, you only need to catch one good bull market in your life to hit the jackpot. Holding onto those winnings and not losing them back is another matter.