Hi Guys,
How do I know if I can make trading my full time job?
Thats essentially my question!
Ok, a friend told me about trading a couple months ago (just after world cup), I know this is no time at all to have built any kind of experience but here goes. He told me about trading the YM open using an ADX indicator (basically wait till adx reached 40 and drops 5 then enter reversal trade). From, there I lost half my account. I wised up and started researching myself - i found this site and studied everything I could about the ym, pivots, fading, ticks everything - I'm on route through a stack of books very kindly recommended by people from this forum.
I have the theory pretty well worked out, if i dont have any information about something i'm damn sure i can find it out from books i have already read, internet resources etc.
I understand the pshycology of the business too, from playing poker for several years I am very familiar with "going on tilt", chasing losses etc. in fact I keep a trade diary which has no monetary value in it - only points.
I am a programmer by trade and believe i am very methodical and analytical by nature. Being in the software industry - my head has been in books ever since i was able to read, although i havent read fiction since school!
I'm not neccessarily asking you if I should take the plunge but more so, how does ANYONE know when to go fulltime.
After reading this back to myself - it sounds like a rant but hey! It would be good to hear if any of you guys have comments.
Oh, finally - I'm in profit ! - surely thats a good sign!
(Edit - Posting this thread gave me a gold star under my name - it's a sign
)
Cheers Guys