Trading for a living

Write-up by P-t trader

The golden question: is it doable?

I will answer that with a resounding yes. After seeing the failure and success cases, i am convinced it is. There are so several profiles of traders out there, who quit jobs ranging from doctors, civil servants, and technicians to grow to be total time traders. They discovered their success via trading in a way uniquely suited to themselves.

What does it take?

Realistically, i would say a minimal of SGD 50k capital and 4-5 many years of expertise in the market place. I initial began trading in 2008 proper, that is coming to slightly a lot more than three many years for me. As a student nevertheless, naturally i do not have the capital necessary. Nevertheless, i nevertheless feel in trading my account no matter what size it is (not money i want to live on obviously) as my expertise grows with every single trade. It will even now be distinct transiting into a greater account in the future, but this is certainly a solid foundation. The draw downs, losses and disgusting feelings are element of the rite of passage i guess. At least for myself, i charted out this studying path exactly where i force myself to absorb whatever is thrown at me.

Resilience. I cannot emphasise this adequate. In a bull run or a straight trending marketplace, any novice will be thrilled at their sheer genius for hitting the jackpot proper away but in the longer run, the key is how not to give back the profits when the industry changes. An accountant goes from university to work and its not until finally the weekends are burned for a handful of a long time prior to they obtain the knowledge required to turn into Chartered Public Accountants. Athletes grind out at the gymnasium for hours, take portion in exhibition matches and competitions to obtain the edge required for doing at a skilled level. Why would trading be any diverse?

It is so ironic at times, when i recall how i went 1 big round just to be back staring at the fundamentals of trading that was taught to me proper at the beginning. It is so straightforward to dismiss the frequent wisdom of cutting losses short, letting profits ride, of trendlines, support and resistances and of points so simple that any trader should have acknowledged when they began out. But it is typically by means of experience that these seemingly basic knowledge start off to make sense as they get ingrained together with trades and industry situations.

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