<i>"This is the best advice you will receive: Study price action. Period. You may not listen to me now, chances are you won't but if you do actually keep at it (statistically not likely) you will take this advice eventually. Save some time. Learn, study, and LIVE price action."</i> Give that three to five years of every day, full-time study with nights and weekends thrown in. After 36 to 60 full months, you might have it figured out on your own. No guarantees. That is the most honest advice you'll receive. You may prefer not to listen now, but we'll both know the truth by that end. So will everyone else who refuses to believe it now. Reality is what denial is not: the truth.
I would say less that 1% under your given conditions. Sorry . It's hard enough when you have money, time to study, and can apply yourself. How bad do you want it? Under your situation I would suggest finding a good prop firm that will let you spend time with a good mentor. Even with that you may not feel comfortable with their strategy and still fail. I agree with Austin. Let's be real since so many live in the champagne and caviar dreams. Positive thinking is great, but hopium isn't
started trading in 1998 with 10k ..lost 6k within 4 months ! got a break holding GERN overnight on a rumor about a dateline story ..and made 8k ! .. learned a very unconvenional way to trade by myself .and i've made a living fom it every year , ever since .. you can search for my journal "my trading" which i don't post to anymore .. good luck ! --m
<i>"got a break holding GERN overnight on a rumor about a dateline story ..and made 8k!"</i> just curious: if that lottery ticket hadn't won, in your opinion, what was your probable path from the $4k remaining and onward to now?
I have been hearing about price action (PA) for more than 8 years now, and so far nobody has given an definition that makes sense. Is it a figment of their imagination? BTW, I make my living as a day trader. [rwk]
Read the livermore book... Learn support/resistance. Find a stock with a trading range... buy at the bottom of range,sell at the hi end of range...easier said than done... The most successful traders exercise patience,sit through whipsaws and dont get scared out of their positions before it gets near their target price...this is extremely hard to do and is all psychological.Control of your fear and emotions.
This is fantastic and all, and there are several post simiilar to this one, so I'm not trying to single you out, but the OP is clearly asking for SUCCESSFUL traders who are MAKING MONEY to share their stories. This thread has very little value if it turns into an introduction thread where all traders, successful and unsuccessful alike are allowed to post their stories.
You wait tables. You drive a cab/car. You tend bar. Not meaning to be flippant. But all three cater to late, 2nd shift hours which frees up the morning/early afternoon to "learn" the markets under live conditions.