Currently learning on my own

[luketurner13]

Hey,

I am studying to become a trader. I am 30 years old and have been studying by myself for the past 6 months.

From what I have learnt so far is that discipline, emotions, psychology and risk management are key in trading. I am under no illusions that it is easy and I will press a few buttons and make money.

I am obviously interested in creating financial freedom for myself, but I do have a genuine passion and interest for the markets themselves.

I'm in for the long haul I am not going to give up until I have a good understanding of the markets and I have somewhat become consistently profitable. Whether it takes 3,4,5,6,7,8 years I do not care.

I have not even traded yet as I am trying to teach myself the fundamentals of trading.

I have read books, listened to podcasts, read blogs.

Here it comes....

So I am looking for somebody who would be interested in mentoring me. I believe that you should learn on your own, but with this subject being very complex and there are thousands of different opinions thrown at you, it would be great to have an experienced trader to show me what he or she knows.

I am a carpenter and have been for 10 years and work for myself. But I have cut down to 2/3 days a week so that the rest of the time I can study and learn. So I have time to do this properly.

I also live in Sydney.

If you have any interest then please do get in contact.

Thanks

Luke Turner

 

[qldfrog]

I appreciate your enthusiasm, but you should probably ask Joe @Joe Blow to remove your phone number from your post:
you will get no end calls from whatever phone number catcher program scanning the web.And usually scams...
people here can exchange message with you and privately exchange number later on.
Wishing you all the best, it is not easy to learn but with persistence and dedication I am sure you can make it

 

[luketurner13]

@qldfrog thanks mate have just removed it myself

 

[greggles]

So I am looking for somebody who would be interested in mentoring me. I believe that you should learn on your own, but with this subject being very complex and there are thousands of different opinions thrown at you, it would be great to have an experienced trader to show me what he or she knows.

H Luke, welcome to the community. As a tradesperson, you would know that skills take many years to hone and develop over time. Those who are the most skilled at what they do are also the most sought after. So it is with trading. I wouldn't describe myself an experienced trader by any stretch of the imagination, but I am curious - how much would you be willing to pay for such a service?

 

[luketurner13]

Thanks.

Yep that is the way that I see it as well I am currently doing my apprenticeship.

Similar process as well with regardless to learning, but we always had experienced tradesmen showing us!!!

I cannot give an exact figure. I would need to know what I would be getting first so that I can guess a price.

I would be willing to pay 100% if the price is right but its hard to say a figure without knowing what sort of service I would be getting.

 

[tech/a]

A common dream.
of 1000 would be’s about 30 make a profit.
the other 970 don’t. Very few on this forum
make a consistent profit. I’ve been here 20 years
and never seen anyone take on the mentor route.

I get a few requests a year as do a few of the others.
Money doesn’t motivate me. If you can give me an 8 day
week that may be of interest.

There are many ways to trade. You have to find what it is
that interests you.What suits you ? You have to know what you
want to learn before you search for it!

Unfortunately your going to have to learn what you don’t need to
know before you’ll know what it is you need to know!

a few here have seeded information for people like you
Pete 2 myself and a search will find others.

Remember people think complexity is impressive .
My findings. Are that complexity is the tools of trade for
the snake oil salesmen.

The journey is worth it. But I’d never trade for a living.
Enjoy

 

[peter2]

Welcome to ASF Luke. I envy you as I wish I'd started learning about the market at 30 yo. Your first aim should be to learn what sort of trading or investment style you prefer at the moment. This style may change as you gain more knowledge and experience but you need to narrow down the limitless possibilities. The only way to do this is to read, listen, enquire from as many sources as possible. ASF is a good one, books, fin magazines, internet (yes even YouTube) are others. Go to professional meetings held by the main trading (ATAA) and investor associations (AIA).

Traders and investors view the markets from their own perspectives. A fundamentalist will view the market through the companies and the business they're involved in. A chartist will view the market through the price charts. An economist will view the markets through their knowledge of economic theory. A math quant will view the market through the numbers. Oracles will view the market through examination of animal innards. I won't mention the astrologists.

Think about what attracts you to the markets. I don't mean just the financial potential. What's going to keep you motivated to stay the journey? 40yrs of compounding returns is a huge advantage to have when you start. You definitely don't want to waste this. How are you going to stay consistent through 40 years? How much work, effort and time do you want to put into the journey?

Once you have a better understanding of what style interests you the most, you should then decide how to get more specific education (research it yourself, pay tuition, mentoring).

 

[luketurner13]

A common dream.
of 1000 would be’s about 30 make a profit.
the other 970 don’t. Very few on this forum
make a consistent profit. I’ve been here 20 years
and never seen anyone take on the mentor route.

I get a few requests a year as do a few of the others.
Money doesn’t motivate me. If you can give me an 8 day
week that may be of interest.

There are many ways to trade. You have to find what it is
that interests you.What suits you ? You have to know what you
want to learn before you search for it!

Unfortunately your going to have to learn what you don’t need to
know before you’ll know what it is you need to know!

a few here have seeded information for people like you
Pete 2 myself and a search will find others.

Remember people think complexity is impressive .
My findings. Are that complexity is the tools of trade for
the snake oil salesmen.

The journey is worth it. But I’d never trade for a living.
Enjoy

Ill be in that 30 bracket mate, is just going to take time and hardwork.

Thank you for the advice it is really appreciated and agree with having to find what suits me, and finding my way.

Good to hear this sort of thing from people with experience.

Thank you is much appreciated.

 

[tech/a]

Well right now your in the 1000

 

[luketurner13]

Welcome to ASF Luke. I envy you as I wish I'd started learning about the market at 30 yo. Your first aim should be to learn what sort of trading or investment style you prefer at the moment. This style may change as you gain more knowledge and experience but you need to narrow down the limitless possibilities. The only way to do this is to read, listen, enquire from as many sources as possible. ASF is a good one, books, fin magazines, internet (yes even YouTube) are others. Go to professional meetings held by the main trading (ATAA) and investor associations (AIA).

Traders and investors view the markets from their own perspectives. A fundamentalist will view the market through the companies and the business they're involved in. A chartist will view the market through the price charts. An economist will view the markets through their knowledge of economic theory. A math quant will view the market through the numbers. Oracles will view the market through examination of animal innards. I won't mention the astrologists.

Think about what attracts you to the markets. I don't mean just the financial potential. What's going to keep you motivated to stay the journey? 40yrs of compounding returns is a huge advantage to have when you start. You definitely don't want to waste this. How are you going to stay consistent through 40 years? How much work, effort and time do you want to put into the journey?

Once you have a better understanding of what style interests you the most, you should then decide how to get more specific education (research it yourself, pay tuition, mentoring).

Thank you for the response.

I am looking at day trading/swing trading at the the moment and also options as there is less risk involved or I can control it better as I learn.

I love the idea of being able to trade price action and using technical analysis

I am a big believer that you can use human emotion to your advantage also.

But firstly I want to develop my risk management before I even start thinking of profits.

I know that I will be attached to the markets for years simply because of the challenge that it is.

Also I wish I started younger haha, but just was not ready.

Thank you for your tips Ill be looking into all of them its really appreciated.

 

[luketurner13]

Well right now your in the 1000

I certainly am currently.

 

[sptrawler]

Well mate, from a 65 year old who still doesn't understand trading, ask questions.
There are a lot of threads on Aussie stock forums, trading specific, I could list them but I wont.
It is a great forum with many experienced investors, if you are interested log in and research, a couple of traders are peter2, skate, qldfrog and many others.
Sign up log in and learn mate.

 

[luketurner13]

Well mate, from a 65 year old who still doesn't understand trading, ask questions.
There are a lot of threads on Aussie stock forums, trading specific, I could list them but I wont.
It is a great forum with many experienced investors, if you are interested log in and research, a couple of traders are peter2, skate, qldfrog and many others.
Sign up log in and learn mate.

Thank you I’ll be following you all.

 

[sptrawler]

Thank you I’ll be following you all.

Dont follow me if you are a trader, you will lose money.lol
I bought SO4 at 42c last week, this week they do a cap raising at 35c, story of my life.lol
But long term?

 

[frugal.rock]

it would be great to have an experienced trader to show me what he or she knows.

Already done.
Find the recent Peter2 and tech/a threads.
Done & dusted.

I am looking at day trading/swing trading at the the moment and also options as there is less risk involved or I can control it better as I learn.

There's a strong argument to be had to be looking at ETF's / Index's to start, to reduce perceived risk.
Hope it goes well young chippie, go with the grain....and don't get routed.?

 

[Linus van Pelt]

I have purchased some training.
I am very happy with the mentoring.
I don't know if spruiking external services here is looked upon kindly so I'll send you a PM.
My experience here is most experts are secretive about their "secret sauce". Likely for good reason; if 10,000+ were trading their systems each would be competing for the same trades. You *might* get someone to help you privately but I never did have that virtual charm to make that happen.

 

[ducati916]

Thank you for the response.

I am looking at day trading/swing trading at the the moment and also options as there is less risk involved or I can control it better as I learn.

I love the idea of being able to trade price action and using technical analysis

I am a big believer that you can use human emotion to your advantage also.

But firstly I want to develop my risk management before I even start thinking of profits.

I know that I will be attached to the markets for years simply because of the challenge that it is.

Also I wish I started younger haha, but just was not ready.

Thank you for your tips Ill be looking into all of them its really appreciated.

1. Daytrading is the #1 killer of new traders. This is THE most intense form of trading that there is. The idea that you go home flat each day is superficially appealing as a form of risk management. It is an illusion. Swing trading carries its own stressors, follow Mr @Skate thread this past month to try and form some understanding.

Options: not less risk. Different risks. A bewildering number of them. All of the 'greeks' carry their own specific risks, even before you enter the trade on whatever form of analysis you employ. More easily controlled: there is an element of truth to this, however you will need to trade somewhere other than ASX, ASX is a waste of time for options and their various strategies.

2. Everyone loves that idea. The idea is not however the reality.

3. In theory. In practice, most run with the herd. Why? Because apart from very specific instances, running with the herd gets you paid. In those 'specific' instances, very few can actually pull the trigger. It therefore remains mostly theory.

4. You are your risk management. Nothing else matters.

5. You know no such thing. You hope, you plan, whether you are or not, only time will tell.

All the best.


jog on
duc

 

[macca]

I will just say, spend a lot of time reading new and old posts on ASF

Here you will find the good, the bad and the downright crazy ideas that people have tried.

Long detailed threads are a good place to start, if it wasn't working, the thread would have died long ago

 

[Value Collector]

Hey,

I am studying to become a trader. I am 30 years old and have been studying by myself for the past 6 months.

From what I have learnt so far is that discipline, emotions, psychology and risk management are key in trading. I am under no illusions that it is easy and I will press a few buttons and make money.

I am obviously interested in creating financial freedom for myself, but I do have a genuine passion and interest for the markets themselves.

I'm in for the long haul I am not going to give up until I have a good understanding of the markets and I have somewhat become consistently profitable. Whether it takes 3,4,5,6,7,8 years I do not care.

I have not even traded yet as I am trying to teach myself the fundamentals of trading.

I have read books, listened to podcasts, read blogs.

Here it comes....

So I am looking for somebody who would be interested in mentoring me. I believe that you should learn on your own, but with this subject being very complex and there are thousands of different opinions thrown at you, it would be great to have an experienced trader to show me what he or she knows.

I am a carpenter and have been for 10 years and work for myself. But I have cut down to 2/3 days a week so that the rest of the time I can study and learn. So I have time to do this properly.

I also live in Sydney.

If you have any interest then please do get in contact.

Thanks

Luke Turner

Have you considered Investing rather than trading, in my opinion Investing is going to be the best option for most people.

 

[tech/a]

Have you considered Investing rather than trading, in my opinion Investing is going to be the best option for most people.

Investing if your going to make it a career choice will take a great deal more capital.
If your looking to return a stellar 20% P/A and live off it as well as pay some taxes I doubt you'd be able to do it
without a capital base of $600,000 to $800K.

Trading if full time with a stellar return of 40% + will need (In my view ) a capital base of $300K to $500K.
Trading as a supplement to another job---say adding an average modest $50-80K a year to your Capital base.
$200K.

That's a capital base not necessarily the capital you commit entirely to trades. The lower your return and the
more you diversify the more you'll need in the market (Again my opinion).

Cant start a business of any sort without a capital base.