DayTrading After-Market Lounge 6th-8th May, page-48

  1. 32,563 Posts.
    Just saying. In general I would not advise anyone to be a full time DTer. It is very time consuming and there are probably better things you could do with your time. I think most full time traders kinda wash up on the DT beach cos of circumstances and the fact they have figured out how to make some cash over the years. I think if you trade part time and slowly become more of a full time trader cos your are being successful at it then maybe make the transition.

    What a lot of newish traders don't realise is that we have had a very good run for probably 3-4 years now. Maybe this is the new paradigm but it was a lot harder in the old days. (maybe I have just got better? Nah)

    When you trade full time you do become more in tune with the market. But just like someone who wants to be a full time musician, maybe you have 'tin ear'? But if you have worked out a trading method you will definitely do better when you focus 100%.

    To make a lot of $$$s you have to be very good at it. Most people won't be, even if they can make a living. Be realistic with assessing your abilities. Have you just had one or two good results that were basically HC specials? Do you consistently find good results? For example, my success rate with trades is nearly 100%. Make of that what you will.

    If you have a good job and can make another 25% - 50% trading, then I would be happy with that for a long time. If you have a real talent for it you will know after a while and you won't have a problem jumping on full time.

    Better have a big cash mattress tho. Stuff can go wrong.
 
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