Trading for a living?

This is a discussion on Trading for a living? within the First Steps forums, part of the Reception category; I am curious to know if many of you are currently trading for a living? I'm currently working full time ...

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Old Aug 2, 2008, 1:24pm   #1
 
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Trading for a living?

I am curious to know if many of you are currently trading for a living?

I'm currently working full time & wondered if my idea of eventually supporting myself through profitable trading is a realistic scenario. I have been buying/selling shares for a couple of years as an investment & have recently opened a cfd account & have been making some small trades to find my feet.

I'm under no illusions I need to to put a great deal of time in & build up my knowledge & experience (& funds) & have trying to read as much as possible about the various aspects of trading with a view to doing this full time at some point in the distant future.

Has anyone got any advice/opinions/comments to offer?
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Old Aug 2, 2008, 1:47pm   #2
 
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Quote:
Originally Posted by goppo View Post
I'm currently working full time & wondered if my idea of eventually supporting myself through profitable trading is a realistic scenario.
It's realistic in the sense that people do make very decent livings by trading. Whether or not it's realistic that you'd be able to is probably a question that only you could answer.

You're doing the right thing by finding out as much as you can about it - That should help you get a feel for whether or not it's realistic but you'll only know for certain by giving it a try.
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Old Aug 2, 2008, 1:52pm   #3
 
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Goppo

How much do you care about it ?
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Old Aug 2, 2008, 1:57pm   #4
 
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Been a while since someone asked this question, I guess. Time to resurrect it on ForexFactory.com.

And yes, there are plenty of people making a living from trading.
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Old Aug 2, 2008, 1:58pm   #5
 
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goppo started this thread I'm not sure I understand what you mean?
Do you mean am I dedicated enough?
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Old Aug 2, 2008, 2:03pm   #6
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I've traded for a living for almost ten years.

I really goy my eyes opened when working with a trader who made over six figures a month. I wondered why at times when we went out he was so quiet in company. Mainly because his views would be at odds with everyone else. So he Kept quiet.

He made me step things up and get out of the stupid things I was doing but which are things that are advocated by everyone else, including being shown in many many books.

He got me trading, not analysing, he made me realise that many books only show what people want to hear. ie they are put there to sell the book.

I focused on things that moved and made money not slow boring things that I felt comfortable with. In essence I would say my advice is to step things up and get out of your comfort zone.
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Old Aug 2, 2008, 2:12pm   #7
 
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goppo started this thread Thanks NAZ, Some very useful & interesting words there, I appreciate you advice.
Maybe I need a mentor rather than books etc.
Do you think I should become more active & learn by experience? After reading some of the posts on this site I should be aware of some of the pitfalls.
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Old Aug 2, 2008, 2:18pm   #8
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I found that when it came to reality I was getting stung by trading like the crowd, then of course I had to change things and trade differently.

It helped that someone pointed that out to me.

Now I look at all the crowd ideas and smile because where they get in I'm selling to them.
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