Taking it serious and accelerating my learning curve
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thread: Taking it serious and accelerating my learning curve

  1. #1

    Taking it serious and accelerating my learning curve

    Hello men

    my very first contact with fx was of 09. Since then I heard everything I can, which I consider was quite a lot.

    I consider myself a beginner but edued. Im beyond all the noob items like superduper EAs system hopping and so on. I have developed a way that may do the job. The only barrier now is practice.

    This is exactly what I am thinking of recently: quit my dayjob, get a part-time job within my proximity (to reduce travel costs), and use the gained time to get working my bum on practice, practice and practice.
    This is why I consider this in the first place: im still quite young, have comparative low living costs and dwell in my own - I dont have to encourage anyone. Partying on the weekends and cutting down on luxury expenditures can get me.

    Why I think this is a good way: like each skill, trading requires vast amounts of expertise. Working a complete day job that is demanding makes it impossible for me to do anything trading because I lack the concentration required related in the evening. Weekends - well you all now the markets are closed then

    the purpose of the thread:
    I wanted to ask you: has anybody done something similiar? What where your experiences and how did it work out?

    I know one member here quit his job and uni to learn trading, taking advantage of the luxurious to still live with his parents, who encourage him. I envy you, guy are you lucky (you know who you are )

    PS: Please dont give me the standard commerce the dailies, its stressfree and doesnt need 8 hours each day of your attention, because it is something that's simply for me personally.
    You might have the belief that im doomed to fail, im okay with that.

  2. #2
    Junior Member Oxchucabigg's Avatar
    22
    As I am considering doing similar, I'll be interested to see what sort of answers you can get with this.

    I know what is like, you need the day job for the money but have no opportunity to exchange (unless you're lucky and can exchange at work, I certainly can't).

    Are you profitable yet?

    In the moment I am taking lots of'vacation' and trading around my work as I work a shift pattern. If I could do this all day everyday on a week off in the moment and am getting a lot crammed in, it'd be great!

  3. #3
    I will be interested to find out what sort of responses you'll be able to get on this as I'm thinking of doing similar.

    I know what its like, you want the day job for the money but don't have any opportunity to trade (unless you are fortunate and can trade in the office, I certainly can't).

    Are you profitable yet?

    In the moment I'm taking lots of'vacation' and trading around my job since I work a shift pattern. If I could do this all day everyday on a week it'd be good!
    I have made 10% in may on demonstration, but that doesnt mean anything. I would love to show myself that I can do this for a protracted period of time.
    I cant commerce at work also, its just not possible (work- and boss-wise)
    do you plan on a work shift to gain more freetime? Are you using your holidays that are accessible up?

  4. #4
    Junior Member Blankitave's Avatar
    17
    Hi Moetzger,

    There's nothing wrong with your wish to do this and maybe you can make it. And if you're consistently porfitable in having made profits for the past 12 months on month I would even suggest to do it at this time.
    Although I suppose you wouldn't even think twice if you had this document and wouldn't bother to ask here on the forum.
    I demoed and learned for 2.5 years and worked towards quitting my day job.
    Well thats exactly what happened though I've been made redundant and things kinda got rolling a little earlier than I planned.
    The last 5-6 months I have been doing this full time and still have to become consistently profitable.

    Even now after occupying myself with trading for the last 3 years I understand just how big a task it is. Often I felt that I was nearly there and I would be further brought by just a little push the break through.
    Many small pushes have passed since and now I believe there isnt a break through. Just loads of aha moments along which forms onself to a profitable trader.

    Finally I realised that the primary obstacle is mental/plogical despite having it heard 1000 times before.

    Anyways to cut a long story short my advise: Ease to it as strongly as safely as possible if you like it. Having reduced costs rather than a ton of different obligations, particularly financial ones e.g. credit cards, debts etc. take time to remove those before allowing yourslef to a trading committment.That's exactly what I did and I cant tell you how glad I am that I did, else it'd be hell now.This is extremely important to keep you carefree and focus on trading without emotional imbalance. Be ready to get NOT AND bored sometimes to pull the trigger on a half baked trade emphasize this enough. Keep a life, however, do things that you like asides from trading.Not only can it make your life more rounded but it is going to allow you to stay happy and mentally more balanced, very important for trading. Oh, and allow time to yourself, and I mean A LOT of time. There you go, wish me luck as I do to you.

  5. #5
    Junior Member Ada21's Avatar
    16
    I have traded the lower timeframes for many years....and as far as I hate to say it....you will only receive the mega pips when you start trading the higher timeframes. If you are trading with the methodology that is correct, it should be scalable to the timeframes. I wasn't able to trade the timeframes that are higher until I began trading with a egy which was in concert with all the timeframes that are higher. I use the timeframes as a point of reference for the entries.

  6. #6
    Junior Member Oxchucabigg's Avatar
    22
    I have made 10% in may on demo, but that doesnt mean anything. I would like to show myself that I could do this for a protracted time period.
    I cant commerce work also, its just not possible (work- and boss-wise)
    would you intend on a work shift to acquire more freetime? Or are you currently using up all your holidays that are accessible?
    I have thought about it but to be honest I do not believe I'm ready yet. Right now when I could, I think that its safer to trade around my job.

    I'm an IT builder can take more vacation than usual but I do not get compensated for it! When I reach the stage where I am consistently profitable trading with the time that I have...I will think about quitting the day job.

    Additionally I wish to have a cushion of money to support me for say 6 months or so without needing to rely on any trading profits, I believe it is a sensible idea as you then won't feel as pressured.

    Good fortune.

    Hey if it goes t1ts up you can always get another job !?

  7. #7
    Senior Member layunny's Avatar
    195
    Hey moetzger

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

    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.

    Like you I'd no massive fiscal commnts like a mortgage, household, kids etc my weekly expenditures meant I just have to make 10 pips profit a week to pay it.

    Sounds so easy doesn't it?

    Well for me anyway I found it quite the opposite since if say on Monday I began the week comedy a loss nicely then it wasn't 10 pips I needed befoe the end of the week, it was currently 30...

    Still another loss and its now Thursday, I need 50 pips and I am stressing, I am savage, I am impatient, I am seeing things that I wish to see and my trading endured serverly. I am not trading the markets , I am trading my livelihood.

    These times I use my trading account simply for trading - I don't rely on it for earnings and it is so much easier to love. I am able to choose the day or week if I feel like it, so I don't get mad at the markets if they are not going, I don't hate on the united states for getting a bank holiday, and I could be patient and considerably more open to new ideas and have a more honest look at myself and whats happening with my trading.

    One evening for certain I wish to be able to support myself through trading but as I came to realise I am just not ready yet and thats alright with me.

    Once you realise that this sport takes many little baby steps you begin to appreciate the fact that in case you get there - it will be an invaluable tool you have - not some money printing object that anyone off the street can come and learn in a month or two. You have ta earn it.

    Thats just me as I stated everyones different, but I was convinced I'd be fine, and that I am ready and I most certainly learnt the hard way I wasn't fine and I wasn't ready.

    Mary Pippins created the best point You Have to Have a life out FOREX. I totally agree... I am back at University at the moment and its fantastic to occupy my mind with something besides FOREX 24/7, it could be draining your psychological once you're studying... (not that we ever stop)

    Try and be open to what folks here want to say - I understand its hard - I used to block this sort of stuff out cause I simply didn't beg na hear this, and it cost me time and money. If you think you are ready go to it but be honest in your answer and think long term. The markets aren't going anywhere, take your time. You want to have money left to trade 13, once you make it!

    Sorry for the very long post

  8. #8
    Junior Member Ada21's Avatar
    16
    If you're replacing your income trading part time....then it's a no brainer to start trading full time. Otherwise, stay the course and maintain learning and trading.

  9. #9
    If you're able to do it, and not destroy yourself financially, meaning NOT enter debt pay your debts, and still have some cash for fun; then perhaps you should try.

    Ask yourself this question, however, if six months from now you aren't profitable or have lost 1/2 your trading account, will you still be glad that you tried?

    I try to trade daily, it will become like work. I make excuses and try to avoid that, just like a normal occupation, some days.

    Good luck in any event.

  10. #10
    Junior Member samwlsok's Avatar
    28
    THIS IS THE WORST POSSIBLE THING YOU CAN DO.

    I put that into daring so you would detect. A apprentice quiting to go in the market is the quickest road to spiritual ruin, plogical, and monetary. Short answer - do not do it. Attach a copy of a demo statement that you've been running for 4 to 6 weeks you have nothing to talk about here if you'd like the long answer.

    This is a sincere effort to steer a young buck in the right direction. I'm not some bitter old man telling you you do not have what it takes to make your dre come true. Nonetheless, your cognitive thinking skills are quickly declining and your ego is giving way to some really bad idea. Alter your egy to TFs that are higher, or use a trading simulator for training on weekends.

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