Hi mpound,I've been a full time trader for close to twenty five...

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    Hi mpound,

    I've been a full time trader for close to twenty five years and I've been on both sides of the fence.

    Daytrading won't teach you the markets and it will give you the wrong introduction into the psychology needed to make it in this field. The stats indicate the majority of daytraders will fail and while stats do lie, in this case they don't. I've not met what I would consider many successful daytraders and of the ones that are good, none started out as daytraders.

    The best thing you could do right now is just read and watch, forget trying to make a dollar as you won't. Just study, find about ten charts and diarise what you think will happen. Write it down, either in private or here so you can't fudge the opinion. If you get something right, try and find out why, if you get something wrong, try and find out why. Look for strategies that work regardless of whether your position is five thousand or five million. Success is far more about percentages than dollars.

    It took me around 8 years before I would say I was a very good trader and that was full time.

    Good luck
    Cheers
 
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