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Can I be a full time stock trader?

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mikegarzon

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on: Jan 09, 2012, 05:44 PM
guys, advise naman. im planning to do fulltime trading. is it feasible? hirap na kasi me sa mga work and wala rin naman nangyayari. and i love to be with family for we live in a remote place, we do have dsl here.

ive tried blogging, odesk, but nothing happens. is it possible to generate a 400-600 daily income from trading stocks alone?



ferrariEverest

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Reply #1 on: Jan 09, 2012, 05:55 PM
why not?
pero, ultimately, ikaw lang makakasagot at makakaalam nyan.

P400 - P600 daily?
pwede. depende pa yan kung local o int'l stocks ang ite-trade mo.
kaso, kikitain mo yan consistently pag sanay & experienced ka na.

WARNING:
wag ka papasok sa trading with the wrong reasons.
kung gusto mo mag trade dahil 'hirap ka na sa work & wala naman mangyayari'... im quite sure masusunog lang pera mo.
kailangan u love trading & willing ka magcommit dito (commitment ng isip at pera)

how long have u been trading?


mikegarzon

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Reply #2 on: Jan 09, 2012, 06:02 PM
gusto ko talaga yung stock trading, i want to learn more and be really great at it. i'm fascinated with numbers, the trading platform, business news, and i know that there is money between those numbers that go up and down.



SAGAD

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Reply #3 on: Jan 09, 2012, 06:03 PM
ask mo c BFX...

he is , by far, the best performing trader i have known :D


mikegarzon

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Reply #4 on: Jan 09, 2012, 06:04 PM
by the way, i havent put real money or dont have a broker yet. but ive been playing stock trading game thru citisec and pse for almost a year now. and now that im always home, i have more time and im more serious and know what i want. but i know that i have a lot to learn.


tyrone

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Reply #5 on: Jan 09, 2012, 06:07 PM
@mike. i suggest not. di pwede magshort satin so kung bear market, mahirap kumita (risky).

pero nasa iyo pa rin. kung magfufull time ako. siguro kapag mga 5 years na experience ko sa market. that way, medyo kapa ko na ang stocks.

pero opinion ko lang to. haha. bull or bear market meron naman stock na umaakyat kahit papaano.

@sagad. wow. baka naman pwede magshare si BFX ng techniques. hehe


BFXGeneralConsultant

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Reply #6 on: Jan 09, 2012, 06:07 PM
ask mo c BFX...

he is , by far, the best performing trader i have known :D

Thank you...


SAGAD

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Reply #7 on: Jan 09, 2012, 06:09 PM

@sagad. wow. baka naman pwede magshare si BFX ng techniques. hehe

ask him...or better yet, read his posts first...u'll see what i mean


mikegarzon

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Reply #8 on: Jan 09, 2012, 06:11 PM
yep, i know that it's quite risky kaya gusto ko na pagkasyahin ang pag-aaral ng 5 years worth to a year only. bata pa rin naman ang stock market sa atin.

given that im quite serious with this. where do i really start? what should i read? im familiar with the pse, some chart readings, etc. but i got those thru google and not from people na pinoy din. baka kasi aral ako ng aral, mali naman inaaral ko.


SAGAD

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Reply #9 on: Jan 09, 2012, 06:25 PM
try m panoorin CNN Rookie Trader sa youtube...
4-part series yan


ferrariEverest

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Reply #10 on: Jan 09, 2012, 06:36 PM
gusto ko talaga yung stock trading, i want to learn more and be really great at it. i'm fascinated with numbers, the trading platform, business news, and i know that there is money between those numbers that go up and down.
u have to understand, iba ang Gusto sa Kaya (like vs capable).

u dont have to rely on & read news to profit from the markets.
in fact, for most traders, detrimental pa ang pagsunod/basa sa news.

by the way, i havent put real money or dont have a broker yet. but ive been playing stock trading game thru citisec and pse for almost a year now. and now that im always home, i have more time and im more serious and know what i want. but i know that i have a lot to learn.
demo is vastly different from real. u got to take that into account.
nagresign ka na ba sa trabaho?

yep, i know that it's quite risky kaya gusto ko na pagkasyahin ang pag-aaral ng 5 years worth to a year only. bata pa rin naman ang stock market sa atin.
pag-aaral is one thing.
iba pa yung application.

think of trading as if u are gonna fly a plane.
as a pilot, do u think it's possible or even realistic to study & practice it all in 1 year?

realistically, u need to commit at least 2-5 full years to this. IMHO & based on my  trading experience.

Quote
given that im quite serious with this. where do i really start? what should i read? im familiar with the pse, some chart readings, etc. but i got those thru google and not from people na pinoy din. baka kasi aral ako ng aral, mali naman inaaral ko.
start with self-assessment.
u can make &/or burn BIG money in trading. are u prepared for that? really? pag-isipan mo mabuti.

read up on the internet about trading.
basa basa ka sa threads dito. u are lucky mejo marami na stock traders dito satin ngayon na nagpopost online.


dont take my posts the wrong way.
im not discouraging u. in fact, im encouraging & preparing u for what's to come.
trading is a serious business. i'd like those new to this to realize this early... or suffer devastating consequences. hindi ito laro laro lang.
u really have to be prepared & capable to do this.


SAGAD

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Reply #11 on: Jan 09, 2012, 06:48 PM
to inspire u traders...new or old...

http://www.youtube.com/watch?v=MwKYjZ_8EcE&feature=endscreen&NR=1


ferrariEverest

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Reply #12 on: Jan 09, 2012, 07:02 PM
salamat sa vids, Sir Sagad!


uranium698

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Reply #13 on: Jan 09, 2012, 07:29 PM
Kung may at least 3M ka,lagay mo sa TEL. dividends pa lang buhay ka na sa 1 taon haha!

di ka man papawisan, kikita ka ng mga 20k a month.

di pa masyadong volatile.


mikoangelo

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Reply #14 on: Jan 09, 2012, 08:12 PM
They say it takes 4 things to hack it as a full time trader:

Money -- you need adequate capital to be able to trade with.

Method -- you need a working framework, system, or methodology to develop trading decisions.

Mind -- you need confidence and patience to stick to your method--and this also comes largely as a result of having enough money to back up your decisions and pay for mistakes

Motivation -- you need a compelling reason for trying to make money from the markets. Without this incentive, you have nothing but profits to aim for--which is an empty hollow goal

---
share ko lang to from the book that I read..walang link e kaya post ko nalang dito,medyo mahaba....... :hihi:
---

Anyone who has ever dabbled in the endeavor of trading markets and enjoyed the experience has likely dreamed of becoming a successful full-time trader. While that optimism is certainly positive from the standpoint of eagerness to succeed in a truly fascinating business, it is also probably unrealistic.

Becoming a successful full-time trader of markets is akin to playing golf: There are countless good golfers, many of whom can even play at par. However, only a very select few golfers can ever make a decent living by just playing the game.

Keep Expectations in Check

It's important for all traders, especially those new to trading, to realize that nobody - not even the most experienced of traders or the most powerful of computer trading systems - can consistently and specifically predict exactly what the markets will do in the future. Markets can't be tamed.

There is an old market adage that says, "Markets will do anything and everything possible to frustrate the largest amount of traders." Trading markets with some success is no easy challenge. Trading markets full time, with no other source of income, is an extremely difficult endeavor.

At this point, some may be thinking, "This is not very encouraging news. Maybe I should listen to some of those other guys that say I can have immediate trading success by learning their 'secrets' or adopting their 'proven' system or strategies."

Many traders are lured by fast talkers or fancy wording into thinking that someone or some firm has a sure-fire trading "secret" or system that beats the markets on a consistent basis and racks up big trading profits in the process. But the truth is, most of these claims are half-truths at best and downright lies at worst - and they come from people who are out to take your money.

The truth of the matter is there are no "trading secrets." Achieving futures trading success is not easy - it takes hard work. And even hard work does not guarantee futures trading success. Unfortunately for many traders, it takes the pain of losing substantial amounts of money early on before finally realizing this truth.

Candidate for a Full-Time Trader?
But for those who are still determined to make it as a successful full-time trader, below are some key questions that should first be addressed, to help determine if one is a candidate for graduation to that elusive rank.

1. Are you a successful part-time trader? You'll need to be successful at trading on a part-time basis before you think about moving into the full-time trader ranks. Don't be fooled into thinking that trading on a full-time basis will allow you to spend more time to cure your part-time trading ailments. In other words, don't say to yourself: "If only I could spend more time trading markets, I could have more success than I've had just trading 'one-lots' here and there."

2. Do you have enough money available to live on when (yes, when - not if) you hit a streak of losing trades? A losing streak will inevitably occur, and probably sooner rather than later. It may seem like a losing streak of just two weeks, but it could stretch up to six months, or longer.

3. Do you have the psychological stamina to be a full-time trader? Quite frankly, most people do not. Can your psyche (not to mention your pocketbook) handle six months of losing trades?

4. Will your immediate family members support you, even during a prolonged rough stretch of trading? Believe it or not, this is a very, very important question. For example, if your spouse does not support your decision to trade full-time, then you are likely doomed to failure. The pressure of having to produce winning trades and knowing that your spouse is skeptical of your efforts can be insurmountable.

5. And on your part, will you be able to uphold your family or other important responsibilities even during a rough trading stretch? Or, will you brood when you start to lose your "golden" touch?

The above questions are tough to answer, but they need to be faced if you are to continue on your trading journey

Don't Take It Lightly
Becoming a full-time trader is not as easy as buying a computer, a data feed and opening a trading account. It takes hard work, dedication, psychological stamina and a strong support base. Unfortunately, even if you have all four, there is no guarantee that you will turn a profit. If you are willing to pursue this endeavor, make sure that you understand all that it entails and the stiff challenges it poses.


 


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