The long road to trading

suggy

Active member
133 0
The long road?

hi guys, after your opinions

I really want to be a self-employed trader, and believe I have what it takes, the rules are gradually starting to sink in, but I'm at a bit of a cross roads now. I can apply for/get (hopefully) a good graduate position but obviously this will be very time consuming leaving me little room for trading. Or I can go for it, get a 9-5 job that pays a living and really try and crack on with trading. I am 100% certain that whatever I do I will end up trading eventually, and I know the next couple of years will likely be very hard if I do go down that route. Has anyone here done it? Or if you lot were starting again, what would you do? All comments appreciated. :p
 

Dow Dog

Well-known member
409 0
If you want something badly enough, just go out and get it.

Life is too short to do things that you don't really want to do so if you want to be a trader, then be a trader.

If I could start again I would do everything differently - that doesn't mean that my life would turn out any better.
 

dolton

Member
69 0
If you can get home from work and in front of a screen at say 18.00Hours, you should be just in time to carry out say 10minutes analysis then trade the "second trend" on the Dow which can kick in between 1730 -20.00 [See "Sniper Trading by George Angel]

Good Luck
 

oatman

Senior member
2,879 22
Suggy, trading will always be there. It'd be nice to get something else under your belt and a bit more security first.
 

Dow Dog

Well-known member
409 0
Oatman

Getting a degree, profession, good job, experience etc. does not guarantee you security.
 

suggy

Active member
133 0
hmm yeah good points guys.

MCGF - its kind of hard to trade if you have no money to do it with. I was thinking that if I just got a job where it was fairly non-stressful and maybe had a internet connection then I could practise until I got enough in the bank to have a real go.

DDog, yeah I know where you are coming from, thats how I'm feeling right now but its a big step, thats all. Lots of factors.

Oatman, I do have a degree and a PG qualification so (fingers crossed) I should be able to land a fairly decent job if this first attempt ends in tears. I dont really want to sit at a desk killing my brain and thinking about trading when I could just go for it.

thanks for all the input. Anyone else have any pearls of wisdom?
 

Dow Dog

Well-known member
409 0
Open up a virtual account with a spread betting company. I think you can do it with Capital Spreads.

If you open an account with Fin Spreads they will allow you to play for 1p per point for the first 8 weeks. Thereafter it is 50p per point minimum.
 

jklondon

Active member
212 2
Out of interest have you got a decent size capital to earn a living of trading suggy ?

Personaly (and this is just from my exp) I would take a decent grad programme and attempt to trade on the side if you want. Depending on what you do (?) they normally invest a lot in the first two years of a Grad Progamme and the experience you get means you can pretty much move on to whatever you want within your field after a while.

Would you plan on trading at home on your own ?
 

Dow Dog

Well-known member
409 0
Suggy

You should also be aware that trading can be a lonely way of life.

It can also be excruciatingly boring but the money makes up for it when you have a winning system.
 

Roger Carton

Newbie
6 1
Suggy

There is the wise saying " don't put all your eggs in one basket"

You have to quite a risk taker to do what Dow Dog is suggesting, stick to your 9-5 job and play the market on the side, at least for the time being is my opinion.

Roger
 

Roger Carton

Newbie
6 1
Dow Dog

I don't understand your logic. If everybody gave up their jobs and started playing the stock market we wouldn't have anyone doing the necessary jobs. Who would be working in the Supermarket. who would be firemen, etc? The stock market would collapse as a result.

Unless you want to send most of the jobs to India? That would give a massive boost to the Indian stock market, ours would scompletely collapse and be heamorraging cash.


Roger
 

Dow Dog

Well-known member
409 0
Isn't that a bit extreme Rog ?

I think you should join MCGF and me on the Zambia trip. Might get your sense of proportion back to reasonable levels mate.
 

donaldduke

Experienced member
1,665 257
Suggy,

Have you got two years worth of money to live on??

And then you will need atleast 60K on top of that to trade with.
You should expect to lose say 10-20K of this 60 in the first
year or so (every one who doesnt have a private mentor loses
in the beggining).

You also need a PC and a broadband internet connection.

And finally you need a passion for trading and the markets.

If you have all the above then go for it. Otherwise work hard
in your other job and dont quit until you have all of the above.
 
 
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