[Xiao si]

G'day folks....after 6 years of trading part time and recently resigning my full time job, i have finally taken the plunge into the world of trading full time as a business.

The next 3 months will be spent developing my business plan, trading systems and working to test, validate, execute and implement those plans.

I am lucky enough to be very well capitalized after several years of savings and swing/position trading part time. I have experienced the loss of my trading account on several occasions before realizing a better degree of success. My plan involves a swing trading account as well as the newer addition of intraday index futures and equities.

I believe one of my advantages is my strong work ethic and love of a challenge. A positive attitude and the ability to visualize my goals will come in handy as well. Most of all i know that i can succeed at this, and i will.

One thing i am clearly lacking due to my location, is a good trading mentor that i can correspond with frequently and emulate. Feel free to offer!

I'm looking forward to getting to know the community here and hopefully i can contribute with my relatively 'light' experience.

Cheers,



Xiao Si
(Pronounced shao seh)

[MadMarketScientist]

Congrats! Feel free to document your journey here with us - there are many full-time traders here that can help. Best of luck and see you around.

MMS

[Tradewinds]

Seems that you are in good condition to become successful. I'd be interested to know what helped you go from loosing money, to being profitable.

[Xiao si]

Originally Posted by Tradewinds »

Seems that you are in good condition to become successful. I'd be interested to know what helped you go from loosing money, to being profitable.

The biggest single thing that i changed was to plan my trades better and not just trade anything....i got out of intraday FX because it was killing me and i could not find a system to trade it successfully intraday. The time frame was not right for me. Given my time constraints i got into swing/position trading, which was a better time frame for me and it allowed me to better plan the trades and be selective about taking trades that met my criteria.

The other big thing i've learned is to be patient, the markets and thier opportunties will be there another day. Wait for the setups to come to you, don't try and make something out of nothing.

Thanks for asking, good question.

Cheers,


Xiao Si

[MightyMouse]

Good Luck.

There is a lot of good information on this site.

Given that you are advertising that you have plenty of capital, there are a lot of experienced mentors here. Careful, since they will end up with the capital and you end up with the experience.

[Xiao si]

Originally Posted by MightyMouse »

Careful, since they will end up with the capital and you end up with the experience.

Sounds like a Thai girl i knew once........

Xiao Si

[cash123]

Originally Posted by Xiao si »

Sounds like a Thai girl i knew once........

Xiao Si

You too

Good Luck

[TheNegotiator]

H Xiao Si,

Welcome to TL and good luck on your journey. If you have managed to do well with swing trading so far, are you planning to at least initially use this as the core of your trading methodology? I would say really all the things you mention like being patient and planning your trades well are really just the same in day trading. Maybe you just need to be more alert and flexible enough to move to plan B quickly in shorter timeframes. It really depends on how you trade though I guess.