I have made my decision

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Upcomingstockmaster

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When I first got into spreadbetting about 8 months ago, I thought it was an easy way to make money, when I made that 1 big win, but just ignored all of my losses, which were much larger than my win in total (demo account). Thought it was an easy way of a great living style, with a good salary...

But I have learned that its not so easy at all. Its actually extremely hard and I do believe you have to be the right person for it and will only succeed at it if you are interested in it and always trying to learn. Always.

Now Im nearly 18, and have decided to be an accountant - boring, yes but also to trade part time. Maybe in time, I will be good enough to trade full time but what worries me is that you are not guaranteed a salary so Im going to keep spreadbetting as my side project right now, and I will bet with a small amount of real money.

So my thoughts have completely changed over the last 8 months, from learning that my first impressions of spreadbetting have completely changed.
 
Sounds like a sensible decision. Have you taken a proactive approach to learning about trading or have you just been messing about on a demo?
 
Sounds like you're heading in the right direction then. Best advice I think I can offer is to always keep in mind why you want to get into trading and what you want to get out of it. Otherwise, best of luck to you.
 
(y)

The market will always be here. Build up a nice account from your career and by that time you should be ready to trade decent money.
 
shadowninja said:
(y)

The market will always be here. Build up a nice account from your career and by that time you should be ready to trade decent money.
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There's also Padraig Harrington, double Open champion, who springs to mind. He wasn't sure about being a pro golfer and actually became an accountant for a while.

Can you say Padraig? Ten years ago Padraig Harrington wasn't sure he could make it as a pro. Now he just might win a major—and more | Golf Digest | Find Articles at BNET
 
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In what way is it wrong? Should he borrow money with no decent trading method or is it better to learn more and build up spare money to play with?
 
shadowninja said:
In what way is it wrong? Should he borrow money with no decent trading method or is it better to learn more and build up spare money to play with?
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Trading is not about saving and the like. The answer to your question will have no bearing on the outcome of your trading.
 
I agree. That's not what I meant, though. From the OP, I gather he didn't have much money and was considering getting a decent career started so that he'd have money he can risk in trading.
 
shadowninja said:
I agree. That's not what I meant, though. From the OP, I gather he didn't have much money and was considering getting a decent career started so that he'd have money he can risk in trading.
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Hi shadowninja,

As many people have many definitions of different things I wondered if you could clear up what is 'decent money', and 'not much money' as is mentioned in two of your posts here.

Many problems will arise from such statements as someone could save £100 and call that a 'considerable amount', someone else could have £50,000 and believe that they 'didn't have a lot of money'. As definitions go, I wondered as you bought it up twice what your definition to others would be without being so vague. This would surely be more help to the thread starter and all others that read and may wish to start out trading
 
That depends on how someone intends to start trading. Are we talking about spreadbetting? Buying and holding shares? Buying gold bullion? It's up to the individual to decide on how much is enough to risk comfortably.
 
shadowninja said:
That depends on how someone intends to start trading. Are we talking about spreadbetting? Buying and holding shares? Buying gold bullion? It's up to the individual to decide on how much is enough to risk comfortably.
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It's in response to the thread starter in particular as this was the person you were replying to on his started thread. Here is his open post that you replied to twice with these comments. Hope this helps you in responding to your 'decent moeny' and 'not enough money' quotes to clear up your generalisation and vagueness.

Upcomingstockmaster said:
When I first got into spreadbetting about 8 months ago, I thought it was an easy way to make money, when I made that 1 big win, but just ignored all of my losses, which were much larger than my win in total (demo account). Thought it was an easy way of a great living style, with a good salary...

But I have learned that its not so easy at all. Its actually extremely hard and I do believe you have to be the right person for it and will only succeed at it if you are interested in it and always trying to learn. Always.

Now Im nearly 18, and have decided to be an accountant - boring, yes but also to trade part time. Maybe in time, I will be good enough to trade full time but what worries me is that you are not guaranteed a salary so Im going to keep spreadbetting as my side project right now, and I will bet with a small amount of real money.

So my thoughts have completely changed over the last 8 months, from learning that my first impressions of spreadbetting have completely changed.
Click to expand...
 
In short? £1k for spreadbetting if you can get a 10p/point bets. By decent money, I meant enough to start not enough to earn a comfortable living... it can only remain vague because I have no idea whether the OPer can live on Tesco Value Baked Beans for 5 years or lusts after Italian cured meats and Tesco Finest ready meals. One's lifestyle affects what one can afford to put aside for trading.
 
shadowninja said:
In short? £1k for spreadbetting if you can get a 10p/point bets. By decent money, I meant enough to start not enough to earn a comfortable living... it can only remain vague because I have no idea whether the OPer can live on Tesco Value Baked Beans for 5 years or lusts after Italian cured meats and Tesco Finest ready meals. One's lifestyle affects what one can afford to put aside for trading.
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What's a decent living? Some people seem to get really offended by these type of posts, so let's get real here....


There's couples with two kids or more out there, they've never done a tap in thier lives except scrounged and malingered, and they're are taking in 25k a year.....plus!


So there you have it, are you making less than the layabouts and scroungers?
 
Why would they get offended by my post? I'm trying to be realistic. Different people have different ideas about what is a decent standard of living depending on what they're used to and what they think they need.
 
shadowninja said:
Why would they get offended by my post? I'm trying to be realistic. Different people have different ideas about what is a decent standard of living depending on what they're used to and what they think they need.
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Realistic?

What's realistic about a 1k SB acc.? Nothing!
 
What's unrealistic about it? I did state: By decent money, I meant enough to start not enough to earn a comfortable living.

In fact, £10 could be realistic if you're trading with Oanda.

I get the feeling you've misunderstood me somewhere along the line...
 
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im doing the complete opposite lol! Doing accountancy, but I just can't settle for a secure job with no risk. Im naturally a risk taker and enjoy being pressurised. If you can live without this and like staring at spreadsheets and nothing else accountancy is for you lol.
 
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