Thanks Jako. I think unless someone is a rare and lucky...

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):



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.