to those that trade and or invest for a living, page-114

Good on everyone who has a goal to invest or trade for a living. I'm 35 so i'll give you guys the hindsight of my experience.

1) When i started trading at 18 i didn't diversify, got crucified by a few dudes. Lesson: Don't invest what you can't afford to loose.

2) I listened to my broker (at the time) and didn't do my own research. Lesson: Do your own research.

3) Put stop/losses in place. Lesson: Protection of capital is paramount.

4) Don't average 'down'....it's usually a dud.(i.e. look what happened to ppl who averaged HIH and more recently CDR): Lesson: Don't through good money after bad.

5) When starting out your job (or rat race income) will give you the ability to invest and take higher risks than if you threw in the towel and your trading has to support your living expenses. Don't be too hasty throwing in your job until your ready. It's ok if your living at home with your parents (no rent) etc but eventually you'll want to stand on your two feet and leave home...living expenses etc can add up to $50K-$100K a year after tax for the average person/couple so make sure you can cover the expenses.

6) Share trading is one form of investing...be familiar with other forms of investing and capital protection vehicles.

7) Make sure you want to leave your job or whatever for the right reason. For me it is to spend more time with my young family.

I could go on forever with this stuff....

My story is a bit different, I love trading but I also love my career (people I get to associate with are great) and i also invest in property (residential and commercial).