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so what are some of the true reasons for becoming a trader? and you're telling me that no traders have ever been successful by starting out part time and then making the transition?

you're saying the pros have done it 72 hrs a week for a number of years?

Is this true? When I say price analysis I'm referring to candlestick charting like ascending triangles, double tops, etc. Technical indicators include MACD Histograms, Stochastics, etc. Is this because price analysis is better at predicting future price movements whereas technical...

Your post was like reality slapping me in the face. I'm gonna do my best and see how I fare in swing trading (while keeping my day job). If after a few years I fail...well I'll go back to being miserable.

I think Interactive Brokers is cheaper in commissions, I was going to go with them. Also, when you tell me to chart those items, do you mean chart the daily's by hand? Or do you mean the 30-min charts for all of them? Can't I just look at the history of the symbols and go through bar by bar...

I don't plan on quitting my job for as long as it takes me to become proficient and profitable in trading. And yes, I guess you can call trading more of a hobby than a career (at this point). But once I learn the ropes, I'd like to turn this hobby into a career. As long as I don't quit my...

So you're saying most of the people here on ET aren't even making a profit? How do I know who's profitable and who to listen to? I don't have a mentor so this place is the second best thing I could think of.

I'm trying to get out of my career...its so dead-end and I have zero passion for it. I want trading to be my new career and I want to be good at it.

I have no idea what you're talking about. I'm not planning on quitting my day job. Currently my short term goal is to learn the markets well enough that I can break even. I'm developing a simple momentum trading strategy and tweaking the parameters to best fit my entries and exits. Long...

I know you recommended InvestorRT over at linnsoft.com (are you affiliated with them?) I don't have a programmed mechanical trading system, I'm doing everything discretionary right now. And I backtest by looking at the history of charts and noting when I would have entered and when I would...

I'm passionate about doing something that will make me independent and wealthy over the long run. I decided against medical school since I didn't take the necessary pre-requisite courses in college. Law school doesn't interest me. I began studying for the LSATs and said "F" this. I...

I'm currently paper trading and analyzing charts at work right now (the dailys & the weekly's). I'm always on stockcharts.com and elitetrader. I just started looking into stockfetcher.com. Soon I will open an account with IB once I feel comfortable paper trading.

so you only did better than 10% of the kids in your school?

I understand your intentions are good but there's a big difference between watching from the sidelines and participating in the game.

I think its a good thing that there's a ton of negativity. It kills the "get-rich-quick" mentality that some might have when entering into trading. If anything it'll make us newbies more careful when placing trades. There can only be two reasons why a trader fails: 1. Your trading plan...

This is an update to my original thread: http://www.elitetrader.com/vb/showthread.php?s=&threadid=219895&perpage=6&pagenumber=1 Cliffs of my original thread: - I'm an engineer who wanted to go into day trading at a prop firm - ET'ers convinced me it is not worth it Now I've decided to...

that's not necessarily a bad thing. correct me if i'm wrong (i'm still relatively new) but trends are created by major institutions with billions of dollars initiating buy or sell orders as a small trader, all we have to do is latch onto the trend, ride it for however long we feel...

Have you never heard of the Turtles and Richard Dennis?

But in all seriousness, what advice would you guys give to those willing to put in the long hours and dedication? Someone who is properly capitalized and is not looking to make a quick buck? There is so much information out there sometimes it feels overwhelming.

But I is trying so hard, can ya hook up a brutha up with some winning indicaterz?