Exploring a career in 'Trading'

4 step approach (to be followed in order)

1) Bet smaller than you can afford

2) Keep pulling the trigger

3) At some point, you'll realize that you need an edge and start looking for one.

4) Depending on your personality type, you might find that edge in indicators, or charts, or probabilities, or stock stories .... it could be anything.

You'll never know until you jump right in. The truth is, it is impossible for you to know what you need to know before you've tried it.

So just set aside a dollar amount, set aside a time limit and dive right in. Good luck!
 
Again, thank each of you for your thoughts. Since the Last Post, I have been preparing to 'open shop' as it were and begin trying my hand at trading. I believe that I have all the basic needs met now. (hardware, software, charting, data feeds, open trading accounts and the like).

I intend to open a new thread which I will call New Trader or something like that. Anyone interested in seeing how I am doing is welcome to drop by, laugh, cheer, puke or whatever!

C-ya!
 
Quote from wolfen:



Oh, almost forgot to mention it, but I am a girl. female, woman, just turned 27.
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Oh that did it. You are suddenly going to become the most popular poster on ET.

I am a girl. female, woman.....
(we get the picture)
 
LOL PuffyGums!!

I think not, I am 5'1", weigh 300 lbs. so hairy I look like a bear, I don't bathe, and have a total of 14 teeth!!!

:D
 
Quote from wolfen:

LOL PuffyGums!!

I think not, I am 5'1", weigh 300 lbs. so hairy I look like a bear, I don't bathe, and have a total of 14 teeth!!!

:D
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That description is fairly vague. Do you have a picture?

xbrxx
 
Sorry xbrxx, don't think i have any pictures that I would make public on the internet. Howver, if I make the cover of Forbes I wil be sure to tell every one about it!!:) :cool:
 
Quote from Geezer:

Hey Frenchie, your post made me laugh. Although real traders are usally pretty well educated these days, we get tons of neophytes who think they can trade without a university education. Then they post on various boards that trading " is the hardest thing you will ever do" and "95% of traders fail" etc. I can tell you one thing for sure, 95% of uneducated traders fail, but you get someone who has a four year degree and a year of training, and he/she will most likely make it. Your 80% number might be right. Hey just a few more days and I made it to another year. Amazing. I finally recognized you by the bias in your post, but whats with the handle? You finally lost weight?
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Their isn't a university in the world that can guarantee a profit it ones brokerage account.
A 22 yr old out of college will take a beating just as a 32 year old having a mid life crisis will if they haven't done their homework.
If you keep your trading style simple and consistant a blue collar guy will be able to keep up with the university grad.
The idea that college makes a person smarter is laughable.
You cant be taught common sense in college. You don't need a degree to understand what makes the market move.
While the youngster is off in college dreaming about a life, us dummies have a 4 year head start trying to achieve critical mass.
If you payed attention in school, you know the power of compounding will get me their faster.
Good Luck

Bernie
 
Quote from wolfen:

Sorry if I am asking too much, but I have determined to pursue this as a possible career. I am blessed with ample funds, and bored to death of teaching overseas.

Any and all assistance will be greatly appreciated!
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Hi Wolfen, don't worry about all these naysayers. Being properly funded and highly educated puts you in the top percentile of all traders. Take advantage of your position. You should trade with as much leverage as possible to start out. Trade the electronic emini market so you don't have to deal with a market maker trying to rip you off. Those markets are also very liquid. Finally, I highly recommend using the Stochastic indicator as much as possible (sell when overbought, buy when oversold) as most idiot traders who lose money don't understand it. There is lots of fine information about it posted by Jack Hershey/Grob109 here at ET.

Good luck,

Dick
 
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