由 njrookie » 2014-05-14 9:33
I agree with George that DT is a hard way to make a living. it can work if you have realistic goal, but it will take time.
just a few observations fyi:
1 the flexibility in time is over-rated. most manual traders spend lots of time after regular trading hour to review chart and trade. 10-12 hour per day is quite normal.
2 difficult to adapt to trader psychology. so your strategy might be ready, but your mind is not ready. do not trade too big. consistency build confidence. start with 100-200K account and get comfortable and build it up.
3 your physical health will take a toll. back/neck/arm/wrist hurts from sitting in front screen all day long.
4 screen time can not be replaced. the statistical edge is small and it is easy to mistake luck for edge. 10000 hours, ie 5 years are the norm.
5 just when you feel you finally have it under control, mkt will teach you a new lesson.
6 while I know a few 7-figure earners, I do not know anyone who makes that much trading simple TA/PAs. Most of them involve options/futures/spreads/arb.
7 trading changes your view about life - you become too calm and too objective. not sure this is a good thing or a bad thing.
8 having a job / an alternative income is both a curse and a blessing. it distracts you. when you are making money you feel you are wasting your time and your life with your regular job. however it relaxes you as well. I would not quit until one has enough capital and comfort level.
9 build some passive income. trading income, even for the best traders, is not predictable. sometime market just does not present enough volatility / trading opportunities. if you need income from trading to bring bread on the table, you might become impatient, and not let market / trade come to you.
Melody: with your quant/coding skills, you can focus on developing/backtesting strategies while watching mkt. Human can get emotional, but machine will not. also if you really want to jump into this, borrow all the money you can borrow thru mortgage/HELOC. once you go indep, it becomes hard to get credits.
just my 2c.
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njrookie 编辑于 2014-05-14 15:31,总共编辑了 3 次