Trading for a career

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bigrednich

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Post Number: 3
Registered: 02-2007

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Thursday, February 08, 2007 - 04:20 pm:

Hello all!! This is the same post as some may have seen in the psychology section. I thought that was the best place for it, but someone suggested putting in the lime light to get more response. Thanks to those who did post, your thoughts were helpful and encouraging.

Not sure how this will go but I’ll put it out there!

I got out of school, and went to Uni at UTS for 6 months doing business. After a few work experience stints at investment banks, I decided there was little point working 16 hours a day making everyone else richer.

I then went to Jamie Mackentyres 21 CA (limited use, but a step in the right direction) I have also used material from Daniel Kertcher, Nick Hallic, george fontinalls and a few other education “guru’s”

I went up to work in the mines last year building up my trading capitol, and now have moved back to Sydney with my parents to start my apprenticeship options trading. I intend to learn everything I can full time, as the biggest problem with the markets is how time consuming the initial learning stage is. Full time trading I feel cannot be approached as something to start after work and build it up, I’d just never get the time to focus on it as a career, it would stay a hobby.

I am 20 and intend to treat trading as a 5 year apprenticeship with the view of knowing what im doing (I.e trading for a living) at 25. I am not expecting quick profits or to make the Fortune 500 tomorrow. I figured a uni degree takes 3-5 years and set me up for a job for the rest of my life, if I put 3-5 years into pure study of the markets I would be one up (and its something I’m passionate about anyway)

I have started to dissected things I need to learn and do..

Technical analysis (charting, indicators, etc)
Fundamental analysis
Learn each of the strategies well for all markets (bull, bear, neutral)
Volatility (the greeks, delta neutral positions etc)
Paper trade like crazy
Back test technical analysis strategies with MetaStock

To do this I have many DVD’s from the courses that I’m watching and re-watching. Books and all the information on this forum, all the posts, all Colins points on the site.

I guess what I’m looking for is if any successful traders were in my position -

20, passionate about Options trading, done a few courses, earning about 10k ish each year passive income, with a trading bank of around 30k

- or you could start your career over again, what would you do? And what advice would you give me??

Cheers everyone, again those for your help already!

niK