if youre for real.........a practising, income producing trader could take your 5k and make an affordable yearly income (if you lived in a tin shack in outback Oz).......
get a bigger pile......you need room to move, lottsa patience......paper trade till you hate the idea.....get mentor if you can......make an ebook containing all the stuff that's WORTHY from this site.......long road chap/chappette ......very long road......very similar to the road I started......best of to ya.......
here is a post from another site for a newbie:
Also.......constantly......ask questions of anybody who knows their subject and this requires careful listening......understand that knowledge (not to be confused with experience) requires PRIORITY......this mean having someone, experienced, who can assist you in prioritising that knowledge.....what knowledge needs immediate attention, what knowledge needs to be left till the earlier foundations are set......
One of the boons of this site is the depth and width of the knowledge, however, all rookies get the bench and understudies don't get to go on stage until the lead actor is sick......apprentice mechanics get to change oil filters long before they get to rebore a Lexus engine.....
......a priority of mastering trading........ HOW to learn on how to master trading......... is one of the missing ingredients I see everyday.....inappropriate prioritising from well-meaning traders who were successful in their own right was a real challenge for me and took me a long time to recognise.....a great trader is not trained in the art of training necessarily.......this is the way to minimise the pit-falls....there are ample enough pot-holes on the road.....
Have a clearly defined goal with a clearly defined plan of what you want to achieve......that leads you onto a clearly defined strategy........be aware that trading has requirements and thinking that are unique to this business...... that is exactly what trading is.....a business......be business-like.......
very little, that you hear, has not already been explained by someone to someone else..... yet WHEN you hear that information for your business.......you need to have someone put that into perspective........ especially the loose areas of self improvement, consistancy of thinking, proceedural habits of execution.....I say "loose" as those are the areas that require commitments and preparedness that very few other industries provide.......
who you spend time conversing with ....this last one, about who you converse with.....that is an important point......ensure you surround yourself with like-intended people......positive attitudes to the business conduct.......
May I offer this; start with a "I am trading and here is my first list of knowledge priority" then invite others to comment on that list........ask; what do think is missing and do you think I am too far ahead of my knowledge to include this area of work right now?
You see, experience from others is an area that's going to make all the difference, a significant difference.....doesn't guarantee anything, know one may do that......you have the initial knowledge which is to prioritise learning requirements.....
I had often repeated Tims sentiment "where were you when I first started?" I had not learned how to ask the right people let alone the right questions......
Always have a great urgency to learn and no rush to transact......
You are running a business and I bid you well in that.
J
