Have You Been Here? Need Your Wisdom

We are about to move into a business cycle where most successful traders will have their heads handed to them on a platter. As if that is not bad enough you'll be up against disruptor algos designed to turn the PA to jelly at times.

Even a mentor won't get you through this unless he has been though a few bear crashes and knows how to overcome HFT created problems.

There's nothing you'll read that can prepare a rookie for this and you have no idea of the qualities and lateral thinking required to overcome such obstacles. This is the meanest time to join the shark pool my friend.
 
Quote from rmorse:

You have something very rare right now, capital.

Good luck.
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rare my ass, money is everywhere.


to the op, don't waste your time. find a nice racket like gold saleman, or some cushy job selling lawn maintenance.

the chance of you making a living trading is 10,000-1 despite what these guys tell you.
 
Quote from bone:
I cannot think of a worse time for someone to start trading as a virgin newbie. Thirteen years ago, any douche with a pulse could make money day trading stocks. The world has changed mightlily since then.
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Agree with Bone.
 
Don't do it.

You'll break the 2 cardinal sins of trading:

1) Don't trade with money you can't afford to lose
2) Don't trade real money until you're profitable on a simulator


The idea a complete newb opens an account with 200K (of retirement savings) and *expects* to immediately generate positive return is absolutely insane. The only time that's possible is during crazy volatility. It takes most people YEARS to find an edge. Even then, returns might be limited to 30-40%, a year. Want some advice? Google Al Brooks.
 
Quote from Xspurt:

We are about to move into a business cycle where most successful traders will have their heads handed to them on a platter. As if that is not bad enough you'll be up against disruptor algos designed to turn the PA to jelly at times.

Even a mentor won't get you through this unless he has been though a few bear crashes and knows how to overcome HFT created problems.

There's nothing you'll read that can prepare a rookie for this and you have no idea of the qualities and lateral thinking required to overcome such obstacles. This is the meanest time to join the shark pool my friend.
More...

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Just go for it. You know what succesprinciples are, so just do it. You will make it.

Do you want something a side with your trading? I have a business proposal for you, if you qualify. Just send me a PM.
 
I feel like the advice you have given me is something a good friend or brother would offer - a true no punches pulled "ok, look here's the damn deal" type of advice.

And for that I am sincerely grateful.

Given your responses, I could rehash my thought process, and it's thorough, but to keep this brief, I'm saying I will likely go down a different road than trading. I'll continue to mull things over in the interest of completeness but I'd say it's a 90%* chance I'll say no dice.

Best of luck again and I wish you all success.


* see any coincidence with the same percentage that has been bandied about so much on ET? :-)
 
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