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A Communist... please, I have as much ambition as anyone else to live a rich and lavish lifestyle, but with money I've actually earned or invested wisely. Anyway, how can you relate someone who is concerned about people living above their means as a Communist? It befools me :lol: I'm not...

I concur, Elcubano. It's the simple things in life that brings the most joy. I could buy a used BMW M Roadster (about £26,995) myself, but not only would it cost me an arm and a leg, it'll be dated within just a few short years and most likely worth half what I paid for it. On the...

It seems the UK and US are too similar in too many ways. Back on topic, does it not annoy you that you're working hard (at work and trading), investing wisely, building up assets and living a responsible life, yet there are the ignorant masses being rewarded for living such risky lives...

It's been awhile since I last posted here and reading all the recent posts regarding the potential mortgage crisis, etc made me think about what it's like here in Britain at the moment. Everyday I see people driving round in expensive and luxurious cars worth over £20,000 ($40,000), 2-3...

I like this and it is very true :D

I can understand what you mean, and that has been my approach over the last six months. I really do enjoy trading the markets, the solitude, etc and I can only hope that I can continue to adapt to the market conditions and consistently take money, but my concerns are very similar to yours. I...

But my point is, it can only help to improve your trading by working on your psychology, as long as your not deluding yourself. I am concerned that traders that are supposed to be consistently taking money from the markets are quick to play down the relevance of psychology. Maybe if they...

If that is true, then excellent, that is something I aim to achieve with further experience and I apologise for my words earlier :)

I'm living in an apartment in London City Centre, thats why my expenses are a little more than otherwise would be if I lived on the outskirts or up North :(

I have been trading with 'real' money for six months, averaging around 10%. And you?

It's strange why he is quick to dismiss the positive effects of working on ones pschology when trading the markets. Every book, review and biography you read has a dedicated section to developing the right pschology (including the greats). The main areas a trader needs to focus on is: 1)...

True, but that is all you ever spout. What type of proof/evidence do you require? Surely you understand that a trader is really battling himself and not the markets. We all should know by now that no one person can change the markets, unless you've got some serious leverage behind (SERIOUS...

nononsense, mind showing us your past results to prove that you're not talking out of your a*se?

dac8555, thank you for the advice, this is what I was expecting, some personal experience and solid advice :D I am 21 years old, no debt, 10k savings and completed my higher education for back up. I'm self-employed, but only enough to get me by day-by-day without going into my trading funds...

illiquid, I stated earlier I average about 90-120 trades per month. My max draw down has been 12% of my available equity (8 consecutive losses).

I am and have been trading with 'real' money for six months, I only trade a demo account to test new strategies. The only reason I ask this question is just for a nice conversion to see what others believe is an appropriate start-up and how they started. I even stated within the OP that I...

I know. There's been some 'excellent' moves over the last month :D

I'm wondering if I could squeeze some more profits out of the markets using my system. I noticed that I am leaving a few big moves too early. At the moment, I may trade each market around 30-40 times per month (90-120 times per month). I read on About.com that day traders can typically...

Ok, thank you for the advice. I figured it maybe improbable to maintain such a consistent return. I gather not many private or prop traders could maintain an annual return of +100%, or is this sustainable?

The average is per month, which I have calculated over a six month period (since I started with 'real' money). Is it really possible to reach an average of 25%+ per month day trading?