interesting question from a newbie on the trade2win forum i am a member on
I've spent the last 3 years investing in funds which has given me a decent return. I have always been keen to understand the fundamentals and technicals of investing and I have spent the last 2 months reading as much as I can, watching videos, going through books. I just simply don't have the time to be a day trader more of a investor I guess.
My question is can this be a 'part time thing' ?
I've attempted to answer basic questions i feel may be asked
1 Do I want to make money - Yes, but can live without it as my full time job provides enough 2 Am I happy losing money....No but accept this will happen, although I mitigate risk 3 How much time can I put into research....Currrently approx 10 hours per week looking at fundamentals/ looking at charts etc.. 4 What are my aims - To understand Technical and Fundamental analysis to the point of having a strategy, sticking to it while learning along the way 5 - how much money are we talking about - £4,000 at present
I fell I've learnt a lot, but still just lacking a total and complete strategy
heres my thoughts..........
you are like 90% of the people i talk to .........and there is no accurate answer but there are a few hard brutal realities for you to digest
the more time you spend on learning and trading the markets the more chance you have of reaching your trading / investing goals....but still not guaranteed
you will need a minimum of 10,000 hours of research and training to be even halfway to being a good trader .......and ive trained many traders
if you want to be an amateur / hobbiest then admit it and wear it ...........its no disgrace .....in fact its always huge respect from me when i see people walk away as they cant cut it or make the grade to the level they wanted or envisaged ....its not for everyone
you need capital to make money .......its an aggregate % return game based on managing risk reward and not overleveraging (although ESMA has made that more compulsory by the summer) .....steady steady profits is what we seek
if you overleverage and start to risk too much % capital on individual trades you will lose all your money over time.........
just a diluted version of trading ........and much lower returns
so your decision ?.........part time trading still needs all the same expertise as full time trading to make money so its a bit of a false paradigm
if you cant commit to the stuff above be prepared to lose all your money ........quick or slow ...you will bleed out
sorry buddy ...........you are either up for it and trading choses you or your not ............this is a lifetime Gig
and please dont believe the bulls**t out there from vendors promising you endless profits ..........it dont come without what ive already mentioned
happy to help N