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Strategies & Market Trends : Are you considering quitting your dayjob to daytrade?!
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To: Jon K. who wrote (353)1/21/1999 2:29:00 PM
From: just bearly  Read Replies (3) of 611
 
I am on leave of absence from teaching sixth grade. The one good thing about teaching is that you can take a leave of absence and still have your job waiting for you if you want to go back to it.

I started my daytrading career by getting training at a daytrading firm and by reading a lot. I also did a lot of investigating on SI with my husband's help.

Since I have actually started live trading I have not made more than I started with. However I have lived off of my account for 5 months. My losses have been minimal which I think is important to my future success in that I haven't dug myself into a huge hole.

I started off the new year by writing a trading business plan outlining my goals, strategies and plan for achieving my goals. I recommend that anyone who is considering daytrading do this. It took me about three-four months to narrow down the strategies I had tried that worked.

I think the most important thing to recognize in deciding to daytrade for a living is that one must approach it from the perspective of a new career, one that will take hard work, time and energy to succeed at. Too many people are under the impression that this is easy. It's not, but neither is being great at any profession.
You really have to be as committed to daytrading as you would be to anything you wanted to be really good at.

I spent a year in grad school learning how to be a great teacher, and I spent at least 1 year in the classroom as a teacher learning how to apply what I learned in grad school. I had to work hard in grad school and during my first year to get to a place where I was really good at what I was doing. And every year after that I got better and better. Why should learning how to be a great daytrader take any less time or hard work?

Sorry if I ramble on but that is my humble opinion about daytrading as a full time profession. I truly believe that if you like daytrading and are truly committed to being good at it (i.e. making a living at it)you can successfully do it for a living.

Good luck to all!
Tara

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