Australia's largest stock trading and investment forum Australia's #1 stock forum

Trading Platform - Recommendations, page-5

First 5 Last

Share
Profile

Follow
pedro66

1,136 Posts.

1

20/03/17

16:33

Post #: 23487483
Share

Originally posted by sharks37 ↑

Thanks Jako.

I think unless someone is a rare and lucky individual that is a natural at trading, then becoming a successful professional trader that can make a good living takes lots of hard work, and a business plan incorporating answers to all the questions Jako asked. If you look around HC and take note of the people who worth taking note of because they know what they're doing (including Jako, and the STT contains many of the best) it will become obvious if you read into what they post that they have worked very hard to achieve their success.

Which reminds me of this great picture about success I found a few months ago and have pinned on my wall above my trading desk which I think is absolutely true no matter what field you want to be successful in (think of those gymnasts or divers at the olympics and the triple somersaults they make look very easy - and the thousands of hours over many years that went into making it look easy):

View attachment 510309

I decided to go down the road of fulltime trading almost a year ago, after 10 years of hobby investing while I was working. Comparatively investing while working is relatively easy and pressure-free, because if you don't make money or not enough to live on from investing, that's ok because you already have an income. That changes when you stop having another income and all of a sudden you have the pressure to make enough money to live on, and you have to preserve (and in fact grow) your capital.

I have been at it fulltime for almost 12 months and I am making money but still a good distance off replacing my previous income, but that's ok because I have a business plan and I am seeing a trajectory so I believe I will get there. I could see the lifestyle is better too, but quite frankly I am in my office studying, researching, doing statistics, 10+ hours/day - but it does have flexibility. Ironically I see trading as less capital risky than investing into most other conventional businesses - because you are not sinking all your capital into a single business. But like any other business, or endeavour, where you want to be successful or really good, it takes more hard work and perserverence than people realise. I will add a video interview I came across last year of an ex professional football player who decided to do something completely different when he retired from football, but he wanted to be successful - I think his attitude epitomizes what it takes:

Cheers and good luck, Sharks.

Expand

Hi Sharks,

Thanks for the wise words and advice, I have been obsessed with the stock market since I bought my first ever oil spec TAP OIL around eight years ago. It fascinated me that you could actually have your money work for you and not work for your money in terms of comparing it to a conventional job. I could do my research at night put my orders in and have them executed while I was out swinging a hammer building houses. So from there it began as a hobby to make some extra spending money. I was even buying stocks from porta dunny on site. haha

Anyway I have learnt enough to navigate around the place but in reality I know nothing compared to some of you guys, so thanks for taking the time to share your insights and experience with me as I'm eager to learn as much as I can. The hardest thing I have found to master so far is my emotions but I'm working on that.

So thanks Sharks and I hope you don't mind but I'm going to follow you around a bit on HC.
4 Upvote

Reply

Top Stories

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

ACW

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

MIN

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

WC8

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

Chaos reigns markets – so let's take stock of where we're at ahead of December

There are more pages in this discussion • 18 more messages in this thread...

First 5 Last