[timsingapore]

Dear friends of trading

Sometimes I am confused and have this question in mind.Can retails traders start trading in a humble way,such as on part time basis or small capital,then gradually grow it into something like an established profitable business?

The answer is definitely yes if we're talking about traditional business.But is it the same in trading?Perhaps due to the influence of media which make me think that if I am not someone working as a professional trader or dealer,the best I can get from trading is just an extra income for pocket money because consistent profitability is something that can only achieved by the pro,and it's very difficult for retails trader.

To some extents I think it makes sense because no matter how many books we read and workshop we attend,we still lack of the environment(trading hardware,software and surrounded by other pro traders), knowledge and interaction with the market that professional traders have.

Can we,retails traders, turn our trading into established business?

Please give me some guides and advice.Thank you very much!

Confused trader

[Blaiserboy]

Trading can be whatever you want to make it..... you can start small and grow as large as you want. The biggest difficulty with trading is that a person has to make all of the decisions and mistakes cost capital. There is a tough road ahead if you allow your capital to erode. My approach is to study, test, learn continually as sometimes Mr Market decides to change the game and steal our money. Best of luck.....!!

[wrbtrader]

Originally Posted by timsingapore »

Dear friends of trading

Sometimes I am confused and have this question in mind.Can retails traders start trading in a humble way,such as on part time basis or small capital,then gradually grow it into something like an established profitable business?

The answer is definitely yes if we're talking about traditional business.But is it the same in trading?Perhaps due to the influence of media which make me think that if I am not someone working as a professional trader or dealer,the best I can get from trading is just an extra income for pocket money because consistent profitability is something that can only achieved by the pro,and it's very difficult for retails trader.

To some extents I think it makes sense because no matter how many books we read and workshop we attend,we still lack of the environment(trading hardware,software and surrounded by other pro traders), knowledge and interaction with the market that professional traders have.

Can we,retails traders, turn our trading into established business?

Please give me some guides and advice.Thank you very much!

Confused trader

Hi,

Anybody can trade part-time with a small trading account if that's what you're asking. Yet, most will not be profitable regardless if they do it part-time or full-time. Simply, yes anybody can start trading but only a few will be able to do it profitably.

As for the question if trading is a business...the answer should be obvious. If you're profitable, its your sole source of income, pays your bills, you pay taxes along with doing other things like any other business (e.g. business account with the bank)...

Trading is a business (trading for a living). In fact, if you've had prior successful entrepreneur experience in another profession, odds are high that you're going to approach your trading from the business side. Thus, if trading is just a part-time gig and/or not your sole source of income, its not a business.

Yeah, most retail traders "lack" the same environment that professional traders have but that can be fixed if the retail trader forms the same environment with other retail traders. Yet, most (not all) retail traders prefer the "lone soldier" environment instead of approaching it like most professional traders.

By the way, I think its funny that some (not most) retail traders wish they were in a professional trading environment and most (not few) professional traders wish they were in a retail trader environment.

[timsingapore]

Originally Posted by Blaiserboy »

Trading can be whatever you want to make it..... you can start small and grow as large as you want. The biggest difficulty with trading is that a person has to make all of the decisions and mistakes cost capital. There is a tough road ahead if you allow your capital to erode. My approach is to study, test, learn continually as sometimes Mr Market decides to change the game and steal our money. Best of luck.....!!

Thank you for your advise and also reminded me two of the most challenging part of trading:accountability and continued learning.

[timsingapore]

Originally Posted by wrbtrader »

Hi,

Anybody can trade part-time with a small trading account if that's what you're asking. Yet, most will not be profitable regardless if they do it part-time or full-time. Simply, yes anybody can start trading but only a few will be able to do it profitably.

As for the question if trading is a business...the answer should be obvious. If you're profitable, its your sole source of income, pays your bills, you pay taxes along with doing other things like any other business (e.g. business account with the bank)...

Trading is a business (trading for a living). In fact, if you've had prior successful entrepreneur experience in another profession, odds are high that you're going to approach your trading from the business side. Thus, if trading is just a part-time gig and/or not your sole source of income, its not a business.

Yeah, most retail traders "lack" the same environment that professional traders have but that can be fixed if the retail trader forms the same environment with other retail traders. Yet, most (not all) retail traders prefer the "lone soldier" environment instead of approaching it like most professional traders.

By the way, I think its funny that some (not most) retail traders wish they were in a professional trading environment and most (not few) professional traders wish they were in a retail trader environment.

Forming a trading group with other retails traders is really a good idea that I never thought of.I think it proved again what u said is true about most of the retails traders are lone soldier,including myself so i was stuck in that "independent mood".

Thank your for your advise and inspiration.