Others   

TRADING FOR LIVING

If you can overcome fear and greed , I guess you already win half of the game.

 

Stock investment is a very risky game, be experienced and vigilant, if wanna pour all your saving into ds game.

Nonetheless, life is previous, whatever it is, dun simply give away, worst bringing along others. D last man n woman suicide saga touched AK. 

 

Striker is right... :)


If one practises 'let your profits run', it can easily run away, especially in the forex market...

For instance, one can be disciplined to hold till our PT of 90 pips, 100 pips, whatever... ...

But in forex, 100% retracements (or more) are fairly common.

And if one sets trailing stop losses, one will also be frequently frustrated because of such 100% retracements.

But if one doesn't set a trailing SL, one's big profits may evaporate in only a short while... a very challenging game!...  

 

hi, i've recently spend more time trading.

but still keep my financial planning job.

i've make more losses when i first started to trade but recovered all the losses and start to make profit.

it all depends but one of my 'mentor' always remind me traders usually fail because of greed.

i trade to make $ regardless of big profit or small profit.

but it will be safer to reap small profit & move on then wait for big profit which may become big loss.

 

ravikp      ( Date: 16-Aug-2009 22:02) Posted: No i am in my late 30's...and i am not retrenced too...but the job is very stressfull and my intrest is changed...i want to be a succesfull trader... aleoleo      ( Date: 16-Aug-2009 21:29) Posted: from the way your ask this question i think you are young ...... 20+++ in your age ????? my advice to you is NO ...

 

'Trading' for a living is a fallacy. It should becalled 'betting' for a living.

Firt of all, the very term 'trading' is bullshit. It gives the impression of trading as is commonly known in commerce.

But this is farthest from the truth (ie. bullshit)!.

One can say "Betting Strategically", but not "Betting For a Living"... because all betting can  incur big losses.

One can only 'bet for a living' if one can afford to lose the whole amount one sets aside for the purpose of betting...

By the way, many professionals (doctors, engineers, etc,  have tried their hand at 'trading for a living')...

They might as well go shark-hunting for a living!...

ravikp      ( Date: 16-Aug-2009 12:16) Posted: Is is possible to do trading for living..i am thinking to give up my job to be a full time trader..any comments or experiences...

 

There are many "millionaire" books in the bookshops...

eg. "Investment Psychology of Millionaires", "Secret of Millionaire Traders", "How To Think Like a Millionaire" ... and many, many more more...

These books are all true and the author are not bluffing...

The message and truth that generally can be inferred from their teachings is that one has to be a millionaire first before one can succeed well in trading the markets.

This is because only millionaires can afford to make meaningful $money in any of the speculative markets...

 A millionaire can afford to bet (ie. risk losing) 2-3%  of his trading account on any one of his many trades to try for meaningful wins.

People who are not millionaires obviously cannot afford to bet as big for meaningful returns (to get rich quick).

Thus they often, as a rule, overbet. And this is the reason for their early doom, which is true of 95% of the trading populace... 

 

One important thing, how much do you have with your own money? if it's >$500K, then perhaps you can do investment full time because the income has highly chance much more than regular job. In the case you don't have, then regular income is necessary at least for your family and future!

Before making the decision, you might read a story about ...ROBERT STONE at http://www.nextinsight.com.sg/content/view/1408/60/

Good luck!

 

If u do not have a big sum of money.........i think u better work and dun be a full time trader

 

go for it if you value lifestyle freedom -- most importantly, you need to set aside at least 12mths of your income - resist the temptation to buy stocks as you may not be able to liquidate when market is down and you do not want to make a loss because of sentiment no good ..

 

Well ask yourself this question. Are you confident you can consistently make more money than your present job? Some people can be successful traders and they make much more than working full time. But some, it may be better to work and trade part time as you still got income both ways.

 

No i am in my late 30's...and i am not retrenced too...but the job is very stressfull and my intrest is changed...i want to be a succesfull trader...

aleoleo      ( Date: 16-Aug-2009 21:29) Posted: from the way your ask this question i think you are young ...... 20+++ in your age ????? my advice to you is NO ... ravikp      ( Date: 16-Aug-2009 12:16) Posted: Is is possible to do trading for living..i am thinking to give up my job to be a full time trader..any comments or experiences...

 

from the way your ask this question i think you are young ...... 20+++ in your age ?????

my advice to you is NO ...

ravikp      ( Date: 16-Aug-2009 12:16) Posted: Is is possible to do trading for living..i am thinking to give up my job to be a full time trader..any comments or experiences...

 

If you have gained financial independent, you can. That is, you do not need a pay cheque every month to settle your bills. Quality time and money for investement, you will have a quality life - that's what you want i guess - run it like your own business..

 

True, not advisable to give up a job to be a fulltime trader. The reasons: trading is risky compared to a regular salaried job.  In good times you may still lose money and in bad times losses might be worse.  Traders "working" for brokerage firms earn commissions by way of income.  If you are to be a paid trader, fine but based on commission you may even drag your relatives in to trade if you have no customers.  Please be careful and consider three times before making your decision to be a trader.

Hulumas      ( Date: 16-Aug-2009 14:47) Posted: It is not advisable to give up your job and render to be a trader, unless you are retrenched. ravikp      ( Date: 16-Aug-2009 12:16) Posted: Is is possible to do trading for living..i am thinking to give up my job to be a full time trader..any comments or experiences...

 

Depend on yr age also. If u still young, but everytime stay at home just to do trading. N hardly go out socialize with people, not good not good.

Next time u may have problem communicating with people, hahaha.

N trading, i don't think we will be so chun everytime. Better have a job. Cheers.

 

 

It is not advisable to give up your job and render to be a trader, unless you are retrenched.

ravikp      ( Date: 16-Aug-2009 12:16) Posted: Is is possible to do trading for living..i am thinking to give up my job to be a full time trader..any comments or experiences...

 

possible.. but u have to be able to constantly win on ur trade lo..

ravikp      ( Date: 16-Aug-2009 12:16) Posted: Is is possible to do trading for living..i am thinking to give up my job to be a full time trader..any comments or experiences...

 

Is is possible to do trading for living..i am thinking to give up my job to be a full time trader..any comments or experiences...