Part Time to Full Time Trader

Do not day trade. Do not day trade. That is the only thing I can say and warn you about. If you are starting just now don't start with day trading.

Even 20 year veterans have difficulty making money day trading. Start trading from the mix of weekly and daily charts.
 
safvan said:
Do not day trade. Do not day trade. That is the only thing I can say and warn you about. If you are starting just now don't start with day trading.

Even 20 year veterans have difficulty making money day trading. Start trading from the mix of weekly and daily charts.
Click to expand...

Been Day Trading for 3 years with the last 6 months being profitable.

Was planning a slow progression to Live Part Time trade but with the news I'm losing my job I'm going to take a shot to trade Live Full Time.

Not the way I wanted or the way it should be done but like I say I'm taking a shot.
 
Do not hesitate if you think you can and do your best (y)

The fear is your enemy if you want succeed. Just be sure you know what you are doing and all will be fine.

PS: Don't forget that only 10% are profitable then don't be surprised if 90% of people tell you to not do it... :whistling
 
JDTRADER said:
Been Day Trading for 3 years with the last 6 months being profitable.

Was planning a slow progression to Live Part Time trade but with the news I'm losing my job I'm going to take a shot to trade Live Full Time.

Not the way I wanted or the way it should be done but like I say I'm taking a shot.
Click to expand...

I would agree starting with day trading is a hard choice, but since you've had the last 6 months profitable day trading that's not too bad, and presumably that was behind your ex-bosses back...?!
 
ygenot said:
Do not hesitate if you think you can and do your best (y)

The fear is your enemy if you want succeed. Just be sure you know what you are doing and all will be fine.

PS: Don't forget that only 10% are profitable then don't be surprised if 90% of people tell you to not do it... :whistling
Click to expand...

I dont think you should do it JDTrader. It's easier to make money when you have a job.
 
Best of luck mate!
Keep relaxed about things.
I reckon you'll be a great success.
 
The FX market has been trending since Jan this year which can easily give a trader a false sense of security. Just be sure you are prepared for change that will inevitably onset without warning. Over the years i have seen many traders claim they have made it only to find themselves in disaster when the markets change. These traders have managed to work a successful trending strategies that don't work in non-trending markets. I recommend you look at your strategies and think about whether or not it can work in all market conditions. This situation is capable of shaking a traders psych at its core and not many come back from it.
 
Best of luck although I guess luck should not come into it :)

I went full time a few months ago but I do have other incomes and would find it really tough if I needed the money to live on.

Its sounds like plenty have pointed out how difficult it is which of course it is however one problem I had before was because I only had limited time to trade I was looking for trades that were not there this does not happen as much since I have gone full time.
 
forker said:
The FX market has been trending since Jan this year which can easily give a trader a false sense of security. Just be sure you are prepared for change that will inevitably onset without warning. Over the years i have seen many traders claim they have made it only to find themselves in disaster when the markets change. These traders have managed to work a successful trending strategies that don't work in non-trending markets. I recommend you look at your strategies and think about whether or not it can work in all market conditions. This situation is capable of shaking a traders psych at its core and not many come back from it.
Click to expand...

+1..
 
good luck jd trader, i will be watching, i am going part time myself in july so will be trading half the month full time, if you need any tips please drop by my journal to i will be trading there everyday
good luck
patrick
 
pocrel said:
good luck jd trader, i will be watching, i am going part time myself in july so will be trading half the month full time, if you need any tips please drop by my journal to i will be trading there everyday
good luck
patrick
Click to expand...

Cool :cool:

Can you post a link of the TSR Indicator your using looks good. Or attach the Indicator here :smart:
 
forker said:
The FX market has been trending since Jan this year which can easily give a trader a false sense of security. Just be sure you are prepared for change that will inevitably onset without warning. Over the years i have seen many traders claim they have made it only to find themselves in disaster when the markets change. These traders have managed to work a successful trending strategies that don't work in non-trending markets. I recommend you look at your strategies and think about whether or not it can work in all market conditions. This situation is capable of shaking a traders psych at its core and not many come back from it.
Click to expand...

really true, i 'backtested' my strat by scrolling bar by bar, not kidding myself, since 2003 and per my 5 markets it averages pretty much 14-15% per year per market,drawdowns 5-6% (per market), of course they're correlated somewhat so i'll not be making 5X15=75% per year, since ive traded it over the last 6 months got myself +28% over the markets, so i'm expecting a drawdown once chop suey returns, but overall i'm pretty damn confident in my edge.
 
Live day

All set ! :idea:

Just one last deposit on Monday

Starting with £500 not ideal but it is what it is

Had a chill out week this week and tied up some loose ends

Come see my blog: http://jdtrader.wordpress.com/

:cheers::drunk::party:
 
jd your starting full time trading on £500 with the intention of making trading your sole income?

or just dipping your toe with 500 sheets?
 
Last edited:
rc450 said:
jd your starting full time trading on £500 with the intention of making trading your sole income?
Click to expand...

lol

yes yes I know

You can't make a living from £500
Click to expand...

But I don't need a lot just going to give it a go (y)

I got other funds coming in so no its not my sole income :smart:
 
lol

i don't doubt someone, somewhere in the world has managed to turn £500 into millions trading, be a great journal if you can so don't let us down now will ya!!

i also imagine there are plenty of people who wish they'd started out with £500 but unfotunately went in all guns ablazing and then wiped out big time, good luck and i hope it works for you and you can then add to your account.
 
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