Pursue trading

My.com KTqR47
May 7 7 Comments

Want to go into trading. That is better, to learn and practice in spare time going to full time with enough experience or to go to some trading firm starting as trader assistant? If the latter what are the steps?


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TOP 7 Comments
  • Indeed FYKU13
    I don't recommend (day)trading. If you mean buy and hold that's fine, but daytrading has a heap of downsides. Some of these include: You start losing interest in your day job - I've had days where I've made 20k and others where I've lost 20k. When you start moving that much money around you stop caring about your $500 / day salary. I also noticed that it would greatly affect my mood. If the market was doing well I felt on top of the world. If the markets tanked I would start sulking. Finally, 99% of what you read and learn about is not relevant the day after. You eventually just start churning through the news constantly looking for opportunities.

    I think if you approach it from a statistics mindset it could work - ie find small patterns to capitalize on (in June spy goes up 0.2% more than expected, on Christmas markets tend to drop 0.3% more than normal, etc). But this requires a very disciplined approach and is a lot of work. It's a lot easier to trick yourself into believing that you actually have a strategy and that you don't need to put in the effort when you luck into some gains (but sooner or later your luck will always run out).
    May 75
    • Liberty Mutual Insurance blazergame
      Well said. Or if you decide to day trade, feel free to join the brotherhood /r/wallstreetbets
      May 7
    • My.com KTqR47
      You shouldn’t have scaled up until you get consistency
      May 7
    • Microsoft tarasenko
      Its hard to avoid scaling up before developing consistency for a few reasons: 1) its boring paper trading 2) when a trade goes against you, you will be tempted to increase the next trade juuuuust a little 3) building up upon 2, is that its tempting to increase trade size when things are going well or bad

      4) finally the biggest problem with "consistency" is the definition of consistency. how long do you need to practice before you should start trading bigger sizes? 1 month? 6 months? 1 year? 2 years? the problem is that you can trade for 1 year and do well, but then your trades turn against you despite you system/consistency. and the reason is because 1 year of trading is microscopic compared to the lifespan of the market. you need to know what to do during times like 2007-08 as well as choppy times like in 2012 or even bubbly/crash times like 99-00. maybe you need to trade for 10 years before you've seen most of everything, who has the patience to do that before scaling up?
      May 8
    • My.com KTqR47
      Whatever, it should be the middle ground, 20k swing for a day is quite big, I think, and also as everybody say discipline comes first
      May 8
    • Microsoft tarasenko
      How long will it take to get discipline? How will you know when you have discipline?
      May 9
  • PayPal UWBr03
    On the topic of trading, does anyone recommend any software/paid subscription- which would help you to buy stocks ( short term hold to mid long term hold ) and sell it automatically after lets say 10% upside? ( also sell it automatically in case of 5% stop loss)??
    I know you might earn less as compared to doing everything yourself. But would like to know if folks here recommend any software/ subscription package.
    May 110

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