This topic contains 21 replies, has 10 voices, and was last updated by Jack 2 years, 9 months ago.
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I trade stocks & Options for a living it’s my main source of income. Disagree with many posters in this thread, it’s definitely possible to make money in trading over the long term. Extreme discipline, a trading
- “edge”
in the markets with good risk/trade management skills. Most important is finding a style of trading/investing that suits you’re personal psychological makeup, which can take a long time in itself. If you can’t find you’re niche it’ll be incredibly hard to stay consistent to you’re trading system & plans within it without giving up prematurely. It’s a game which rewards the fiercely independent, challenge you’re beliefs & expose many personal weaknesses along with opening ones mind up to being flexible with things (Strong conviction in a trade one week but the next being able to admit one is wrong once the position is against you and cutting it without any ill feelings etc.)
I never had any formal training (no finance background or worked in the industry). It was many years of independent studying, research and of course trading that helped me find my footing.
If you like to read i’d recommend checking out “reminisces Of a stock Operator” by Edwin Lefevre. One of the iconic trading books about legendary trader Jesse Livermore. Another good introductory book is “how i made 2 million in the stock market” by Nicolas Darvas. These are good introductory books into longer term “Position” trading which looks to exploits big trends within different markets.
Hope this helps
All words well spoken. You/I share a lot of common traits. A better read might be: Jesse Livermore -Boy Plunger by Tom Rubython
Marry again, Hell NO ! ( Even JESUS was hung on a cross just once)
I have a set of educational DVD’s that I’m learning from, I find that 90% of your success depends on self control, something that you can’t learn from a dvd, nor from someone else. You just gotta learn it your way, like someone said, setup your stop losses and know when to take your profits off the table.
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