XJO 0.30% 7,759.6 s&p/asx 200

PERSON213, I've been there two decades ago and know all about...

  1. 3,191 Posts.
    PERSON213, I've been there two decades ago and know all about it. Listen, learn, paper trade, test, test, test, then make sure you know yourself before trading with real money. I've found the biggest hurdle is facing my emotions. In some ways having a successful trading system is not enough. Discipline is the key. Yes day trading is a gamble of sorts, but I believe so is everything else. No one knows the future with great confidence. Even placing money in super is a gamble to some degree. Successful trading of any form, be it scalping to long term "investment" in shares or property is not easy nor simple. If it were everyone will be billionaires by now - well at least for a while until the whole of society collapses as no one would do any work. Some say it takes lots of luck to be successful. Partly true. Sure take 100 unskilled traders and give them some basic training on futures and a certain percentage will be very profitable for a short while. That could be partly due to luck and/or partly due to being a fast learner. We are all different. I'm a very slow learner and it took me many years to be mildly successful. Some do it much faster. Most give up. So, if you are still interested in trading, be it part-time or full-time, take the time to learn and keep learning while paper trading. Eventually you will become good at it if you have the persistence and patience. If you are not interested any more, then take time off and perhaps revisit it some time later.


 
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