Traders Laboratory - View Single Post - For those that are full time now-how'd you do it?
View Single Post
  #10 (permalink)  
Old 08-01-2007, 05:40 PM
waveslider waveslider is offline
waveslider has no status.

Trader Specs
 
Join Date: Apr 2007
Location: Victoria,Canada
Posts: 359
Thanks: 7
Thanked 22 Times in 18 Posts
Re: For those that are full time now-how'd you do it?

One other tip, keep your account small and let it blow out if you are failing. If it blows, then take some time to retreat and re-organize. To me this is like touching the fire, knowing where it is. If you are successful, gradually add another contract.
The worst thing you can do is say "I need $5000 a month to live so.. I'll trade 5 contracts" when you are starting out. Expect to at best break even for a year at minimum.
You need to let your account tell you if you are doing well. You can convince yourself of anything, and most people massively overestimate their potential.

Reply With Quote