Possible to profitably trade?

[goponcho]

Hi.

I am looking to learn trading, but have currently done little study.

I have not launched myself into it because I still am not sure that if i apply myself and learn if it is actually possible to trade from home profitably as a career.

A bit of background to guide your response, for me. I received a TER of 99.85 in 2003, and have completed a medical degree, but am looking find a career with more flexible work hours, preferably to be able to work from home. I also have a very good work ethic and can apply myself to the study of trading. I have also made a good clip from online poker so understand bankroll management and expected value. I say all this because i know i CAN learn the theory behind trading.

What I really want to know is if i study & learn trading will i be able to profitably trade from home for a living? I understand there will be a significant period where i will not make much. What kind of returns am i able to make? I do not want to make a huge amount of money, but something steady. I currently have about 100k as starting capital and no financial commitments as I am living at home.

Also i feel i am suited to trading because i do have a strong ability in mathematics as well as find economics/finance really interesting.

I have been discouraged by others who feel its not possible to profitably trade by oneself because big companies with big bankrolls control the markets. (Again my knowledge of trading is really limited atm)

Please offer me advice And let me know if you need to know anything else.

 

[Grep]

Well I have no idea what TER 99.85 means but I can tell you that average intelligence and a high school education is all that is needed to learn the theory behind profitable trading.It isn't rocket science.

Your psychological makeup is going to have a much bigger impact on your success than your IQ or education.That little voice inside your head that tries everything it can to make you do exactly the wrong thing during a trade.That is going to be your biggest challenge.Not your method,not your software, not what courses you have done or books you have read.

You have to have 100% confidence in yourself and your method.If you dont, you will fail.Even trading a method with proven positive expectancy is no guarantee of success.As soon as you hit a string of losses, most traders give up and look for some other way.Most people cant get over this aspect of trading,they just cant.Thats why most loose.

I also think that you have to love trading.If your just doing it to make money, you are not going to succeed.Why, because the psychological aspects of trading are just so intense.You really have to want it to handle the pain involved.

Trading is the hardest easy money that you will ever earn.

 

[supermatt]

99 ter is like genius standard lol.

 

[mazzatelli]

goponcho,

My friend completed Sci-Med, and switched to a trading firm a few years after completing his course. He is currently in Europe, involved in derivatives [prop and MM] for carbon energy products.

If your math skills and intellect are as you say [I am not doubting you], I see no issue for you to try and enter a trading firm/division and develop your skills there. Your knowledge will accumulate exponentially.

You will be head and shoulders above the majority of average retail traders with a 100k bankroll at home.

 

[Julia]

Hi.

I am looking to learn trading, but have currently done little study.

I have not launched myself into it because I still am not sure that if i apply myself and learn if it is actually possible to trade from home profitably as a career.

A bit of background to guide your response, for me. I received a TER of 99.85 in 2003, and have completed a medical degree,

goponcho, congratulations on what you've achieved so far which is obviously excellent. I hope you won't fail to continue with a career in medicine which I'd suggest is ultimately way more satisfying and fulfilling than simply making money on financial markets.

Why not begin learning about the markets, gradually putting some money in, with the thought of any trading being an interesting and possibly financially rewarding hobby, at least until you see how you enjoy it, and what your results are like.

Sitting alone with a computer doesn't compare with the constructive interaction with human beings that you will get in medicine.

Best wishes.

 

[Sdajii]

Good advice, Julia. Trading makes a great hobby, but as a full time job, isolated, alone, watching a computer all day doesn't sound as interesting or rewarding as working in an interesting industry, working with other people. Of course, everyone is different.

As a hobby, you can either just be sneaky and check the market one the computer at work through the day, or get yourself a smartphone and do it that way (and quickly make trades if the opportunity comes up). If you find that you're just loving it so much and want to do it full time, set yourself up a home office and go for it, but definitely look at having a productive career as option #1.

 

[skyQuake]

How long did it take for you to get proficient at med?

Think back to all the courses and prac aspects.

No different to trading.

You wont master it in 1yr, let alone 5.

(Also its a lot easier to slack off without a course guide, teachers, assignments etc)

Intelligence helps. But not by much, a superb UAI or TER means you have the tools to learn from your mistakes faster or understand things better.

Plenty of threads about trading for a living.