Hi everyone...
First of all I must appreciate all on this forum who are regular posters, especially the ones who have started threads to help out beginners like me. You guys increase my faith in the goodness of the human race.
I am a dabbler in the markets and invested some money for the past 2 years thinking that I will hold for long term. None of the stocks have done well and some are below the 50% original investment because i did not book profit thinking that long term holding for 3-4 years is best.
However, I have always been curious about day trading and for two years I have not been able to do it because of work etc. Now I want to try it full-time.
I was wondering if you veterans could give me some advice on the following:
1. what kind of material should I read to get started. I will start with the beginner's thread on traderji but is there any other advice?
2. I want to get into trading futures so will the above threads help me with the same?
3. How many months or years of practice will it take to get it right? How many months of paper trading should I do? Is it worth subscribing to any service that gives tips for futures and cash? I know these things depend on person to person but I am asking about averages.
4. what is the timeline by which most traders will know whether they can make it or not? - I am sure there is a figure for a number of months or years going around that some of you may know
5. are there any trading classes that are worthwhile?
6. does it really take years to make consistent profits or are you guys just talking about mastery of trading?
I have done my searches on these topics in this forum but no discussion has been conclusive. Hence, I am posting these questions here.
and lastly, thank you all so very much for your patience and time
First of all I must appreciate all on this forum who are regular posters, especially the ones who have started threads to help out beginners like me. You guys increase my faith in the goodness of the human race.
I am a dabbler in the markets and invested some money for the past 2 years thinking that I will hold for long term. None of the stocks have done well and some are below the 50% original investment because i did not book profit thinking that long term holding for 3-4 years is best.
However, I have always been curious about day trading and for two years I have not been able to do it because of work etc. Now I want to try it full-time.
I was wondering if you veterans could give me some advice on the following:
1. what kind of material should I read to get started. I will start with the beginner's thread on traderji but is there any other advice?
2. I want to get into trading futures so will the above threads help me with the same?
3. How many months or years of practice will it take to get it right? How many months of paper trading should I do? Is it worth subscribing to any service that gives tips for futures and cash? I know these things depend on person to person but I am asking about averages.
4. what is the timeline by which most traders will know whether they can make it or not? - I am sure there is a figure for a number of months or years going around that some of you may know
5. are there any trading classes that are worthwhile?
6. does it really take years to make consistent profits or are you guys just talking about mastery of trading?
I have done my searches on these topics in this forum but no discussion has been conclusive. Hence, I am posting these questions here.
and lastly, thank you all so very much for your patience and time