I’d say trading for a living is beautiful… … but unlike what everyone says, it is not a game of chance, but a game of skill… So you need to analyze being honest to yourself if you have the skill or not, if you don’t trading can very easily be the worst career to choose in your life (it is like a black hole).
Ability to stay calm, think rationally when there is panic, risk management, sticking to plans/discipline, and quick on your feet to adapt to the ever changing market scenarios.
Also ensure that you do have an alternative source of income / a cash back up to help you survive for atleast a year with out earnings. (this is apart from the capital you a investing in trading).
This will help you be calm and focused on trading and if at all you fail, you have a year to quit and find a job or try something else. A STABLE AND FREE MIND is the MOST IMPORTANT TRAIT or NEED of a successful trader.
Choosing trading as full time career is nothing but like managing a small corporate company. You need that much skills and effort to grow your net worth.
Learning self discipline, asset management etc are the few areas you will want to have and improve on the go.
You can’t feel settled until you have enough savings and investments in low-risk areas.
Jut sharing my view here
There are no certainties in market and trading is more of an emotional thing. Trading skills apart, i would say that one needs to have a fixed source of income. It was a painful thing to stare at charts and scroll the charts day in- day out.
Once you have a fixed source of income, it will take care of your monthly dues/ bills. So emotionally you are not bound to meet the expenses, ALL by trading. This will help you make wise trading decisions and thus better odds of taking winning trades!
Trading for living is really great thing unless you want to depend on some one’s tips. if you want to be in this business you should know what you are doing and and after knowing it you should stick to it. Trading is the Easiest business i have ever seen in my life.
95% of the people loose money because they depend on some one else and some people do it with out knowing what they are doing so they are bound to loose.
5% of the people make money and they are the ones who has a plan and who knows what they are doing. These guys make loads of money its like learning to cycle once you know how to do it you will do as long as you depend on some one else’s advice you are bound to fall.
Always remember the quote from Bhagvad Geetha : “To win you should be willing to loose”
I think the most important factor is how financially secure you are. If you have the capacity to dedicate a whole 2 years for watching the markets and trading then you can go for it.
Imperative is that you start small and move bigger after you gain confidence. You should start trading big only after 2 years.
You can’t play this game part-time. You have to be able to react in minutes.
Personally, my advice is get into the game only if you have financial security. If you depend on your salary for your monthly expenses, then giving up your job to take up trading full time will be a very very bad decision to make.
Make a good amount of money you can live on first. Then start trading full time. But meanwhile, you can always watch the markets and see how things work.
I am very new to this field. But I believe becoming a full time trader is only possible when you dont have any financial obligations and already self sufficient.
Quitting a job you have and entering full time trade, is mad, if you have not even brushed up the basics properly.
My opinion is to watch the markets and learn as much as possible before venturing into full time trade.
think about it only if you have a passive income, like rent income or interest income or rich father in law
I have loss my allmooney anything
7 lack , my bike , my cloths also
I am very suffring what should i do
Trading can be done Full time. But make sure you have some passive income source as well. Or, enough capital to manage ur family expenses,etc, when you are making some deep cuts / losses in ur trading capital. You don’t want to lose your entire capital, and start selling Amway to run family.
I don’t think full time trading is good, full time, who good knowledge about the market they you can use as a full time trading.Other wise do the trading timely.
In my opinion full time trading for those who have good knowledge about trading and have time to don't miss the market daily news or single update which help to understand the market flow. As a full time you have to give you all time to market or read a lot about the market to be an expert. I read a post about this that understands the market before entering into it. Even here I found some tactics also for trading.
For part time trading you have sufficient knowledge or more than it, because knowledge never wastes. When you have your own stock and where you are going to invest in the market, here this knowledge will help you.
i strongly agree to those who say that you need to have other income source especially fixed income and if its rental income its much more better…even if you are on a break even you should be able to run the month smoothly:)
Every person have their separate view, Who have good knowledge about the market and know how to invest or what we should keep in mind when we are going for trade. So they will suggest full time trading.
And who don’t have good knowledge or not interested in too much trading, they will suggest part time trading.
So every one have their own perception on the basis of profit.
1.NEVER trade from borrowed funds.
2.ALWAYS have a second source of income.
3.NEVER rely on advisors.
4.ALWAYS indicators doesnt work.
5.NEVER try to recover losses on same day
6.ALWAYS save/invest in FD every month regularly from your profits.
Traders with a solid reliable intraday strategy always have an option to jump into full timers.
For truely 2D & 3D integrated trading techniques feel free to download 100% free professional intraday trading strategies here : http://intradaytradingsecrets.blogspot.in/
all think trading is a kid game and very ez than doing a job that u deserve.but its not ,its damn hard to make money in stock market and keeping the money in future.human error is most likely the reason we lose and blame on those possibly we had not done before trade or dint saw the news exact time.
doing holding lowers risk,but does not mean u will not lose money. every way this game is 1 vs X million otherside .every one wants to pull others money but legal way lel.
for me its 70% gamble and 20% technical and fundamental analysis and 10% luck
for me it’s 70% knowledge and 20% luck 10% gambling . but I never gambling in market .