Traders - How long until you turned a regular profit?

jersey10 said:

I never said i was going to live off my trading with a start-up capital of $40 000 with no other income. I said i have a trading capital of $40 000 and i have reduced the work load of my 'normal' job from 5 days per week to 4 days per week. So in effect i still have 4/5 of my 'normal' income and $40 000 to use for trading. I then went on to say i believe i could make 50% on that 40k over a period of 12 months with the help of The Chartist set ups. Only time will tell if i am good enough to do this. A large proportion of the time i no longer spend at my 'normal' job is now spent learning about trading and developing a plan.

Jersey10

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Julia said:

Ah, the wisdom of grandmothers.

Anyway, Frinky, you really are the archetypal true grit real life hotshot, aren't you? Don't tell me you have been fooling me all this time.

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JTLP said:

I think i've been a pretty unlucky kid. Got into the markets in October '07, and saw a 15% increase in my holdings pretty rapidly. Started to buy and sell (thinking I was it and a bit and going on rumours, ramps etc) and got burnt pretty badly. My losses for the year are about 2% of my income (which may not seem a lot) but that 2% is priceless to me in the lessons learnt!

If there is one thing that life teaches you, is that you never stop learning.

I am currently only turning a profit off 1 of my stocks (out of a total of 7). My losses range between 4% and 60% (wish I knew about stop losses!). Hopefully I can start to turn a profit next year (ableit a small one).

This site has been invaluable with all the technical skills learnt. I work full time and imagine trying to DT with Commsec & your boss walking past every 5minutes

One last thing I have learnt the hard way...sometimes the fundamentals are just not match for the technicals...

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Julia said:

Haven't I clarified this? Although I'm not sure why I should need to, really. The only connection was the arbitrary figure of $40,000. And I said "$40,000 or so". That's the sort of figure which is frequently mentioned by people as they ask the question so often asked before of 'can I live off trading.......' etc.

I simply don't know why you and MRC take a general comment as being personal.

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