Quote from mschey:
I started out trading with 25k, I had enough savings to cover 1 year of expenses living with a roommate, a real passion for the business, a goal of making 40k a year, and determination to make it work.
I came in and started trading the typical garbage everyone talks about. Look for set ups with 2:1 risk reward, buy stock at the 50ma, risk a buck, looking to make $2. I could make some money, but couldn't make a living, so I looked for alternatives.
Then I started trading M&A, was involved in GEHON when it blew up, and lost half of my acct. I was getting desperate, and need to find a way to make my living trading, so I looked for a teacher, somone I could learn the nuances of professional trading. I needed to find an edge, and with a little education, and alot of hardwork, I was able to make some money. Within two months, I made my money back. Another four, I accomplished my first double. Two months after that, I did my second double, then I doubled again in a month. I have had a few set backs along the way, every now and then you need to reinvent yourself as a trader, figure out how to make money in an ever changing market. But it can be done, anyone can do it, you just have to be commited, work hard, and enjoy the process. The constant R&D it takes to remain on top.
I think anyone who has the drive and willingness to do the work, who can be totally honest about what is happening, and learn from their mistakes, can make it in the markets. You just have to keep changing your approach until you find a model that works.
