trading for a living, page-68

It is possible to trade for a living but you need to spend an awful long time on it and that is assuming a bull market of some sorts or a market that is volatile - of which it is now. Even then, IMO, you need other sources of income via dividends, rental properties, or other income producing assets/investments/businesses. Even assuming the above, the risk is still very great.

However, I just can't stand seeing people who are young and starting out lose their hard earned. Please complete some ASX courses and begin to create a truly diversified p/folio. Understand risk management, develop a personal business plan, seek professional advice, understand options, warrants, margins etc but most of all develop some understanding of the complexities of taxation law. The vast majority of traders full time or part time will lose the lot also if you don't understand your own errors and learn from them.

If you can make a profit well above inflation/interest rates after tax consistently every year, you will be rich...not overnight, but you can be rest assured, it will happen.

Spread the risk IMO and enjoy the fruits of capitalism before it uses you.