thread: Taking it serious and accelerating my learning curve

Thanks everybody for your replies

There is nothing wrong with your desire to do this and possibly you can make it. And if you're consistently porfitable in having made profits for the previous 12 months on month I would suggest to do it at this time.
Though I guess you wouldn't even think twice if you'd this document and wouldn't bother to ask on this forum.

Yep, im nowhere near consistent profit. But I feel I won't ever reach this goal, if I continue like this.

Having reduced costs and not a ton of different obligations, especially financial ones e.g. credit cards, debts etc.. take you time to eliminate those before allowing yourslef into a trading committment.That's what I did and that I cant tell you how glad I am that I did, else it'd be hell now.This is essential to keep you carefree and focus on trading without psychological imbalance.

I am proud of myself for not having one single cent of debt. I dont have to pay back anything to anyone - so I dont have stress.

Be ready to get bored occasionally AND NOT to pull the trigger on a half baked trade, please highlight this enough.

I understand what you mean, patience is essential, but not easy to learn

Maintain a life, however, do things that you enjoy asides out of trading.Not just will it make your life more rounded but it will allow you to keep happy and mentally more balanced, very essential for trading.

If I can devote 2 or more days each week to trading, then I would be well satisfied and I could go on do other things in my free time. Cash wise its not a huge deal, I can spend at the neighborhood bar/pub spending just a few #8364;s still hav fun.

Oh, and Permit yourself time, and I mean A LOT of time.

I dont expect to be the uber trader after a couple of months. It'll take as long as it requires.
Thanks to your article, you made valid points!

I've traded the decreased timeframes for years....and as far as I hate to say it....you is only going to receive the mega pips when you get started trading the higher timeframes. If you're trading with the methodology that is correct, it should be scalable to the timeframes. I was not able to exchange the timeframes until I started trading with a egy that was in concert with all the timeframes that are higher. I use the lower timeframes as a point of reference to the entries.

I tried trading the higher tfs with my strategy, and it appears to function, but even though it doesnt require that long, im not familiar with it due to the diversion my job supplies. I will try to do this anyway thanks for pointing out this.

I've thought about it but to be truthful I don't believe I'm ready yet....

Thanks to your replies - I can relate totally. If you can take advantage of your time without putting yourself at risk financially, take action! I think that it will pay off.

Hey

I remember doing precisely what you're planning to do today...

Everyones different but for me to stop everything and proceed to trading full time with no real long-term results was quite naive and ridiculous in hindsight.

Just like you I'd no massive financial commnts like a mortgage, family, kids etc so that my weekly expenditures meant I just have to make 10 pips profit weekly to cover it.

Sounds really easy doesn't it?

Well for me anyway I found it quite the contrary because if say on Monday I began the week wit a loss well then...

thanks for sharing your story. Im glad it tried. It was a valuable expierence.
Regarding myself, I dont expect to live off my trading profits from day 1. It takes some time, and I dont mind that. Thats why I want to have a part-time job. Im fortunate enough to have a big chunk of money which I can use to get myself through periods. Im not blocking things say here I am glad they do. I understand thats why I like to understand different people's perspectives, everything. Thank you!

In case you can get it done, and not ruin your self financially, meaning NOT enter debt, still cover your debts, and still have some money for pleasure; then perhaps you ought to try.

Ask yourself this question, however, if six months from today you are not profitable or have lost 1/2 your trading account, would you still be glad that you tried?

I try to exchange every day, it does become like function. I make excuses and try to avoid that, exactly like a regular occupation, some days.

Good luck in Any Event.

Yes, I would not ruin myself. As its one of my top priorities to remain clean I would not look at this when I would. I am aware that its figure hole.
The question if I would still be glad to have tried it if it didnt work - yes, absolutely. I believe that if you want to achieve something you've got to take the dip. And ther. And as I said a few times, I dont have to risk my ruin financially, I only have to cut my expenses, which is doable.

If trading becomes similar to function, it has become what it ought to be. Boring workyou love that you hate it.

THIS IS THE WORST POSSIBLE THING YOU CAN DO.

I set that into daring so you would detect. A one time apprentice quiting to go in the market is the fastest road to monetary, plogical, and ruin. Short answer - don't do it. Attach a copy of a presentation statement that you've been operating for 4 to 6 weeks you've got nothing to talk about this if you want the answer.

This is a sincere attempt to steer a young buck in the ideal direction. I'm not some bitter old guy...

thank your for your information. You may have seen I dont need to rely on trading, I want to find a part-time job to support myself. I wouldn't ever assume that trading was able to live off . I'm not a fool who believes he's the best there was, maybe not listening to information of those who have been doing this since I was a baby. I dont let my ego take over control myself, I understand this leads to failure.
I would like to ask you to post your view again and tell me what you consider residing cheap to acquire free time for learning.


Again, thank you for those long articles! I'm a guy who has a strategy in regards to decisions with impact that is great and not doing things that are such spontaneous.
I will start to evaluate if there are occupations that I was able to take in my area (I live in a small town, so that there arent that many), since without such an opportunity, this endeavour has already failed.

While it's good you are targeting considerable amounts of time to learn trading, I'd love to share a significant bit of info that I learned once I took a course in Cognitive Plogy.

Our minds will be most effective when processing information a little at a time. Thus, learning how to trade will flow smoothly if we invest no longer than 1 hour at one time collecting or analyzing info. Then, our conscious thoughts will need to concentrate on another (unrelated, rather non-intellectual) task, while the executive or sub-conscious portion of our mind procedures and digests the trading information collected earlier.

Alternating between these 2 tasks (even several times daily ) will produce a smooth and reasonably comfortable learning curve, reduce doubt, while raising confidence, and ultimately, performance. There's also a tried-n-true learning egy to anchor new trading abilities - frequent drill and exercise with flash-cards (hard copy or digitally).

And, here is an overall sequence of important questions that will help us teach ourselves how to be always profitable: 1. Where's the place to search for directional clues? (Tip - In the learning phase, it is not on the ideal side of this chart...) 2. How can I recognize secure, smooth tendencies in the first stages? 3. How can I locate entrance degrees? 4. How can I know when it is safe for me to input? - to exit? - to make profit?
Love the journey, Suzanne

While it is good you're targeting considerable amounts of time to learn trading, I'd love to share an important bit of info I learned when I took a course in Cognitive Plogy.

Our heads are most effective when processing data a little at a time. Learning to trade will flow smoothly when we spend no more than 1 hour at a time collecting or analyzing information. Then, our conscious thoughts will need to concentrate on another (irrelevant, rather non-intellectual) task, while the sub-conscious portion of our mind processes and digests the trading...

@ Suzanne
Thanks for the advice here. I wish this information has been made accessible to me when I had been spending 18 hours every day staring at price charts.

@ moetzger
I would love to ask you to place your opinion again and tell me what you think of living low-cost to acquire free time for learning

I believe you ought to keep things just as they are. Though the concept of quiting your job, going or some other variation to concentrate on learning might appear noble, I assure it's not. If I could do it all again, I would have exercised more self control on this trip. I enabled the market to make my decisions. I think you know how that ends up... it is not any different than the alcoholic waking up in certain piss infested ally. You dig what I'm saying? The market has a uncanny capability of turning upright citizens to sloppy addicts.

Learn the market at your pace, under your principles, and keep ego control in any way times. This can come across as information that seems somewhat too laborious for you personally, but until you bottom out (in every sense of this word) - you may not have the ability to relate.

Perhaps you have made the right to go full-time?
That's the million dollar question. If your honest answer is yes... than go right ahead. If not... do the time. If you believe your answer is YES, then by all means don't hesitate to upload that 4 to 6 month presentation announcement I had mentioned earlier.

Attempt not to F this up... you're still ahead.

MM

While it's good you're targeting large quantities of time to learn trading, I'd like to share a significant bit of info that I learned once I took a course in Cognitive Plogy.

Our minds will be most efficient when processing data a bit at a time. Learning how to trade will flow smoothly if we spend no longer than one hour at one time collecting or analyzing info. Afterward , our conscious minds need to focus on another (unrelated, preferably non-intellectual) task, while the executive or sub-conscious portion of our mind processes and digests the trading...

Suzanne, thanks to this post. Ideas really refreshing! I've experienced the greater learning effect of focusing on brief periods, then doing something different myself. But I would have never thought of implementing this to trading. I will certainly consider this, of how my travel will continue independent.

That flash-card technique sounds interesting. Never have I heard of it earlier, could you please elaborate on this?

The questions in your last paragraph are thought provoking. Though I constantly ask them for quite some time now (in a somewhat different manner ), its not wrong to have someone ask them so you consciously consider them, not simply passively.

Very nice post of yours, thank you!

Perhaps it may be possible to get a little more expertise on a simulator from weekends and hours by investing?

I'm sure there are software appliions out there that let real time replay of tick data (if not, write a single, and live on the software royalties whilst you learn to trade)

@ Suzanne
Thanks for the info here. I wish this information was made available to me when I had been spending 18 hours every day staring at price charts.

@
I would like to ask you to post your opinion again and tell me what you think of living low-cost to get free time for studying

I believe that you ought to keep things just as they are. Even though the idea of quiting your work, going part-time, or any such variation to focus on learning might appear noble, I assure it is not. When I could do it all over again, I would have solved...

I can't relate with bottom out. I am not prepared to go whole time. Not closely. In addition, I know that the market can f**k you up pretty badly, I know some poor men who've lost it all (although not through trading, but distinct high risk businesses).
Of course I dont want to end up completely broke, wishing I might have never heard of fx.

I would not ever trade real money if I wouldnt have at least a 4 month history of profitable demo trading. Why try for real if you cant do it on demonstration?
You say, I must learn the market at my pace. Thats what I attempt to achieve. I almost cant learn in any way As matters are now. As I mentioned earlier, I'm by no means an ego enthusiast, never had been. I do this for learning purposes only, not to the bragging rights or because I believe make much money in a year which own the world if I do this. I believe its a bit like going to college. Most pupils (at least in europe) are living as low cost as possible, work a part time job so they could encourage themselves, and the rest (or a great part of it) of their remaining time goes into analyzing. All I want to do is that.

I think your information is cosmic - albeit my age I have been through several life situations, and I've learned over at my age. I am and ego control is but I believe I have enough to keep me on track.

What I dont really understand in your post is, why are you relating quitting your job with permitting the market to make decisions for you? In any situation, this can happen Inside my understanding if you allow your controller slip, be it trading or fullt-time trading, whatever. Know you , if so, sorry for rambling for no reason

Perhaps it may be possible to get a little more experience by investing on a simulator from hours and weekends?

I'm sure that there are applications appliions out there that allow real time replay of tick information (if not, write one, and live on the applications royalties whilst you learn how to exchange )

Thank you for mentioning that. After studying mr.marketz's speaking about it, I have believed this for the first time. Never thought about that, however strange this may sound. I test this weekend simulater trading out and will definitely give this a try.
Thank you and mr.marketz for pointing out this to me. Possibly this could help me wanting to maintain my job

Now you are talking! Simulator after weekends, and work hours. In the meantime the day job, keep, save a decent account size, and take a leave of absence when you ready to rockn' roll.

That's exactly what a wise and informed investor/trader will do.

Great luck to you.

I'd being stung on FF for quite a long time but I feel compelled to reply to your own thread.

I'm a complete time intraday trader who took the jump by quitting my day job. I will help by offering a few remarks for discussion.

First of all, before you make the jump, you have to ascertain this: Do you have an advantage that you can consistently exploit? You're ready to do time if you are confident on this. Failure is sure with no edge....

Secondly, what type of advantage is your edge(if you had one)? If it's a statistical edge, you may think about keeping your job since you can trade the 4h or daily installments. When you are free you can put in your trade and SL and assess. Should you quit your job, you will have time. If your advantage is something similar to what is described as orderflow trading maybe scalping, you might think about going full time. You can earn more and learn more should you take the plunge.

I want the very best of luck to you regardless of which course you select.

Best regards

Now you are talking! Simulator after weekends, and work hours. In the meantime keep the day job, save a decent account size, and also take a leave of absence once you ready to rockn' roll.

That's what a wise and savvy investor/trader will do.

Great luck to you.

I just ordered an extra computer which I will use only for trading. This weekend im on vaion (totally forgot about that), therefore simulation trading will begin next weekend. I have the feeling that it works and I benefit from it and If I could work with a simulator, I will postpone the searching for a part time job for a while. This way I learn from the meantime and still can wait for a opportunity.
Fortunately, first account size won't be the issue.

Thats what I made the thread - to acquire new ideas/perspectives from some other people.

I'd being lurking on FF for a long time but I just feel compelled to respond to your thread.

I'm a full time intraday trader who took the jump by quitting my day job. I can help by offering a few remarks for discussion.

To start with, prior to making the jump, you must ascertain this: have you got an edge which you can consistently exploit? You are all set if you're confident on this, to do full time. Failure is sure without an edge....

Second, what kind of edge is your edge(if you had one)? When it is a statistical...

congrats for making the change into full time! Can you have fiscal backup to endure for some time? I assume so, because if not it would have been kind of get rich or try dying adventure? Whats a major concern for me is, did you get support? I think that it is really hard if everybody tells you will fuck up and trading won't ever function, etc..
I am convinced I have an edge - I believe you could call it orderflow trading. But I am reluctant to let everything go and cut all of income right from the start, because what my edge is lacking is evidence. I understand it works, but I dont know if I can work it. Which actually means I want to evidence myself, not the strategy.

You can surely earn more and learn more if you take the dip.

Thats what my first thoughts where, why I created this thread

thanks to your perspective on this, which differs vastly from most others who have responded, and for registering simply to take part in this discussion.

I dont have pressure regarding my aims, so I will give myself time to choose what to do exactly.
Next steps will be:Simulator once I feel I want testing forward, try to have a part time job when confident enough, trade real cash when execution speaks for itself, move time