Thanks KS
My father was a trader himself so he certainly is my biggest influence and role model to me whilst growing up.. He also got me into trading virtual stock markets/games during my late teenage years. Imo he is a successful MT-LT trader and a very knowledgeable and composed gentleman. He still resides in the US but we use to have regular chats on the stockmarket, I suppose it was something we had in common. Ontop of his guidance and mentoring back then.. Following his suggestions I intially began "investing" into big and med caps with small capital but found this to be inefficient and therefore decided to develop my own trading style. I developed an interest in TA and conducted indepth secondary research as well as attended various trading seminars to increase my knowledge but more importantly learn how others approach situations in different ways. Through experimentation.. I accommodated a genuine interest for trend & swing trading in small caps/speccies.
The biggest learning curve for me was ironically the amount of money I lost at first. Fortunately back then, we were only talking about a few thousand dollars but it did mean alot to me. I think what they don't teach you in textbook books etc.. is that you need to find your own strategy, one that fits you best, one that you are good and consistent at. Don't try learn a strategy and trading style you read up that works for "everyone" or one your mate makes a killing out of ( I've tried lol ) and then wandering why it didn't work for you.
Over the last two years I started looking into day trading and found that it was something I enjoy learning and working with everynow and then. However at this stage I don't see myself making a living out of it.. as much of that time I will focus on starting up my own business eventually.
Atm for DT .. For me.. mainly small outlays and focus on small margins each trade but strive for consistency. You can lose just as many as you win and still make money.. but what counts is how much you lose or win each trade and that comes down to Capital risk management imo. E.g if you make 4 trades on the same stock.. win 2 trades with 2 pips profit each and on the same day lose 2 trades with 1 for brokerage and 1 for a pip loss, you obviously still win at the end of the day. The problem with a few people I know is that they want to win nearly everything and don't know when to pullout.. therefore end up tripping themselves over as they allow emotions , greed and hope to takeover.
All in.. I have only been trading for about 5 years and still relatively young tbh.. and yet to marry or have kids (but I am hoping to soon propose to my 7 year relationship girlfriend when things are settled in my life so i'll be sure to let the HC family know when that does happen ! ) So now you know my experience is peanuts compared to some of you veterans around here whom have battled through several bear markets
