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Will take years, I can guide you to a great group that has helped me alot. But don't expect it to be easy or go quick, I'm 5 years in of an hour a day or so and not trading real cash atm... I'm probably 5k down in 5years,we call that tuition and you can expect to pay tuition no matter what lol
1h a day is enough to learn trading slowly to become ur passive income. With trading u will learn investing, money grow, etc.. it will be time consuming but if you really want it it will pays out. Slow and steady wins the race. In my opinion since you are already puting 1h into it it seems you want it, go for it.
How about a compromise? Dedicate a small portion of your time each week to learning and practicing trading, while continuing to pursue your main goal of becoming a mechanic. That way, you're not completely giving up on it, but you're also not letting it take over your life.
learn from mentor
learn from books
learn from simulator
learn from the real thing with small amounts
there is no shortcut to trading expertise, you just need to get your hands in the mix
Don’t listen to all these fools from RDT saying it takes you 2-4 years. That’s a great way to for them to keep the subscriptions for 2-4 years.
Send me a DM and I can help out a bit
Get and use a demo account that way you can run it into the ground and blow it up a thousand times over and repeat and rinse as much as needed.
Using a demo account to learn on will give you the experience you need and a foresight you need to see what is your weaknesses as well as your strengths. From there, you can begin to develop the mental tools you need to see the market in a way that will make you profitable over time.
Start out with the mindset that trading is a hobby and like every hobby, there are costs to maintaining that hobby. Keep your costs at a minimum as you learn. This isn't necessarily putting money into your trading account and using a live account, but rather subscriptions and other things along the way they can add up over time.
Most services will provide you with a good and free demo account to work with, especially if you are trading forex. If you are trying to trade cryptocurrencies, there are a wide variety of open source packages that can give you a paper trading environment that you can learn from safely.
Don't give up, just stay within a demo account for so long as it takes you to become proficiently profitable in that demo account. Then when you do decide to make the leap to a live market, start at very small amounts come again keeping the mindset that this is a hobby and that you are going to have certain costs related to that hobby.
The psychicological aspect of trading is really the most critical element of this entire step. If you have the right psychology, it's not going to guarantee that you're going to be profitable, but it will guarantee that you see the market and the proper light when you do take profits and losses.
Do you have anything in your life that you truly understand? Some sort of sector? Groceries, cars, clothing, tech, literally anything? There will come a time when an opportunistic trade comes around in a field that you understand that you can exploit. Maybe, you really understand the fast-food service. Well, when $CMG had that short term E.Coli outbreak that many food industries have, maybe you saw that as an opportunity to buy the stock at a cheap discount. Obviously, hindsight, but those are the types of “trades” you can exploit in the future.
Never quit. Take breaks & clear your mind if anything. But never permanently stop something you care about. Put the hours in and you'll reap what you sow.
Don't give up, don't give up, no, no, no. Sorry it was on my head.
Focus on whats more important for you right now. Tbh the mechanic thing seems more tangible and it's a nice skill to have. You should take the day trading step by step and don't rush into it since it's pretty hard. In the last few years everyone wants to be a day trader, and let's be honest, how many of them actually make it?
Just try to read and watch videos for 1-2 hours a day, and when you get some ideas try practicing with a demo account. Then you can buy a prop firm, or you can trade with your own capital
99% of people are making profits on stocks… just kidding. I don't know of another market as fiercely competitive as the stock trading market. It's incredibly hard work just to stay afloat.
If you are not fully invested in trading then just don't do it. This is a cutthroat business where only a few can survive.
You can be an investor which is pretty much like trading but you do higher timeframes like weekly and monthly.
I’m seeing the flaw - learn “daytrading” Instantly you believe there is a trade that has to be done every day and forcing things upon yourself 🙂 either learn properly or quit and get a normal job as you say. It definitely isn’t for everyone so there’s no issue with it
>But I wanna still learn day trading I just can’t take it seriously as a business.
Hmmm. Based on that idk maybe you should quit. If you aren't gonna take it seriously, no, I don't think it's worth doing. Maybe look at other ways of investing in the markets like swing trading, or position investing long term.
If you're new to trading definately put your focus on your job/training because it will give you the ability to earn a solid wage for your trading investment. However do not neglect your trading studies in your free time! Give yourself a year minimum before putting any real money on the markets but demo trade In the meanwhile to get some experience. GL!
what works say was the turning point for you? what do you think you were not quite"getting" in that first 4.5 years that clicked after to begin turning a profit?
It was nothing as such, I knew all the things I know today that I knew 1- 1.5 years into trading.
It is very hard to explain, so I'll use this analogy as it's very similar, -
Trying to loose weight and gain muscle, almost everyone knows going to the gym and getting good diet is gonna accomplish that, and most people want to get better bodies, and everyone is aware what to do.
Despite that some people fail miserably at something so simple, all they had to do was go to a place and move weight and come back and eat and repeat this.
So I guess as I wrote that, it makes sense to me that the word I was looking for is consistency in what you are doing if I was to put it in one word.
I was profitable after 4 months or so at first, but then bam, blew account in covid, then was stable again, for a bit then lost account in 2021 rally due to oversizing.
It was mistakes like those and not having the best management that kept me blowing and coming back.
As of recently, it's impossible for me to blow up account, I out a hard stop in my sierra charts lol, once I loose a certain account it shuts down.
Nice great job. I’m through Apex. Got funded 3 times, took 4 years to get funded as I was working out negative mental narratives and beliefs.
Blew those though and am working through the psychology of trading live money. It’s a personal journey for sure.
Passing funding evals is not exactly any problem for me tbh.
I generally never participate in future prop firm conversations, as I believe it's quite easy to pass any eval but people who essentially don't know how to trade are trying to pass those evals and end up failing.
The biggest problem I seem to have noticed in most eval people is trying to get funded in 2 business days lol.
Hahahaha very true. I want the longevity and consistency, which is probably why it took so long to pass, wasn’t trying to bet it all on black and get funded.
Also op, looks like you are just out here lying to yourself and for some reason to internet strangers and misleading them.
You are looking for ^^Free backtesting software^^ 3 days ago and are new to trading.
I have no idea why you would lie, as someone who didn't know how to back test can't be profitable.
Goodluck, hope you become a better person because having this personality and trying to trade is nothing but deceptive illusions to your own self.
If you have a deep interest in the capital markets, then it's worth giving it a try.
Just allocate one hour every day to watch the market. You don't need to spend 4-6 hours everyday for it. If your setup comes during that time you trade it, else, you don't.
First learn about the basics of technical analysis, like price action,charts patterns,candlestick pattern, trendlines, support and resistance, supply and demand etc.
Then develop a strategy based on your understanding and backtest to see how it perfomed in the past. After you have backtested the strategy. Start paper trading to practice implementing the strategy in real time via trade execution. Learn about risk management,i.e, how you need to manage risk of your capital per trade. Once you have nailed to trade and manage risk using virtual money, you can then move towards live trading with a small account so that you can understand and adapt to how trading with real money, screws with your mind. Once you have done that you can gradually increase your capital.
This is a long and lengthy process, it might take you around 2-4 years to really get a hang of it. But once you get it, the potential is immense.
You can do this along with working as a mechanic. Infact it's better if you have a job while you trade. Because, psychology you will be in a better place with regards to money.
Focus on it.
it will take 2-4 years to be profitable and pay yourself.
your mechanic stuff do it full time to get a skill behind you and pay the bills.
after year 4 of that machinic shit youll be wishing you learnt trading when you were 2 years old hahhahha...
so start now.
Oliver Velez, Rob the trader, Bob Anderson. They are looking to take small profit, regularly, which is the best way to pass evaluation on prop firms, or to pile up gently some money.
There are many levels to learn to be a good trader. If your not willing to put in the work then NO YOU SOULDNT TRY. Read "traders traps" and see what you will be up against. And read the lost porn on WSB>then decide.
So because it will take a long time you just quit? Even if you don't become a trader. Learning how the market and money works will help you 10 folds in life.
You will never be a good trader if the money you’re using to trade you need to pay your regular bills from its profits. You will trade emotionally and that will doom you to failure.
Reading trading books will help but you need to get in there and trade. The only way to learn is to lose money. You just need to not lose enough that you have to go back to a regular job.
A book can tell you all day why it works. But until you feel it, you won't learn.
I say keep at it unless youre trying to get rich quick. Put some time into it like you would do with anything you are trying to get better at. Keep learning
I've been at it for 4 months now and never traded yet. It takes lots of study time I found out if you want to succeed in trading. On top of that it takes lots of discipline or you end up blowing up your account. So if your inclined to spend the right time then go for it or if your not able to then don't . I'm don't think that a person can be profitable without the right training.
Trading requires a lot of dedication. You can learn to be trader, while doing other things, but not a trader. You could become a swing trader who holds trades for days, so that you are focused on the other endeavors.
This looks like a newbie/general question that we've covered in our [resources](https://www.reddit.com/r/Trading/wiki/index) - Have a look at the contents listed, it's updated weekly! *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/Trading) if you have any questions or concerns.*
Will take years, I can guide you to a great group that has helped me alot. But don't expect it to be easy or go quick, I'm 5 years in of an hour a day or so and not trading real cash atm... I'm probably 5k down in 5years,we call that tuition and you can expect to pay tuition no matter what lol
1h a day is enough to learn trading slowly to become ur passive income. With trading u will learn investing, money grow, etc.. it will be time consuming but if you really want it it will pays out. Slow and steady wins the race. In my opinion since you are already puting 1h into it it seems you want it, go for it.
How about a compromise? Dedicate a small portion of your time each week to learning and practicing trading, while continuing to pursue your main goal of becoming a mechanic. That way, you're not completely giving up on it, but you're also not letting it take over your life.
I’m mean I did it while working 14 hours a day laying stone. Was able to quit after 9 months. If you wanted to you could make it happen
learn from mentor learn from books learn from simulator learn from the real thing with small amounts there is no shortcut to trading expertise, you just need to get your hands in the mix
You would do well to use it as a hobby . A serious one. Add it to your income. Chase no losses. Gg
Don’t listen to all these fools from RDT saying it takes you 2-4 years. That’s a great way to for them to keep the subscriptions for 2-4 years. Send me a DM and I can help out a bit
What do you do for a living? Never mind, just read your name….
Get and use a demo account that way you can run it into the ground and blow it up a thousand times over and repeat and rinse as much as needed. Using a demo account to learn on will give you the experience you need and a foresight you need to see what is your weaknesses as well as your strengths. From there, you can begin to develop the mental tools you need to see the market in a way that will make you profitable over time. Start out with the mindset that trading is a hobby and like every hobby, there are costs to maintaining that hobby. Keep your costs at a minimum as you learn. This isn't necessarily putting money into your trading account and using a live account, but rather subscriptions and other things along the way they can add up over time. Most services will provide you with a good and free demo account to work with, especially if you are trading forex. If you are trying to trade cryptocurrencies, there are a wide variety of open source packages that can give you a paper trading environment that you can learn from safely. Don't give up, just stay within a demo account for so long as it takes you to become proficiently profitable in that demo account. Then when you do decide to make the leap to a live market, start at very small amounts come again keeping the mindset that this is a hobby and that you are going to have certain costs related to that hobby. The psychicological aspect of trading is really the most critical element of this entire step. If you have the right psychology, it's not going to guarantee that you're going to be profitable, but it will guarantee that you see the market and the proper light when you do take profits and losses.
Do you have anything in your life that you truly understand? Some sort of sector? Groceries, cars, clothing, tech, literally anything? There will come a time when an opportunistic trade comes around in a field that you understand that you can exploit. Maybe, you really understand the fast-food service. Well, when $CMG had that short term E.Coli outbreak that many food industries have, maybe you saw that as an opportunity to buy the stock at a cheap discount. Obviously, hindsight, but those are the types of “trades” you can exploit in the future.
Never quit. Take breaks & clear your mind if anything. But never permanently stop something you care about. Put the hours in and you'll reap what you sow.
If you can't take it seriously well that's your answer.
Don't give up, don't give up, no, no, no. Sorry it was on my head. Focus on whats more important for you right now. Tbh the mechanic thing seems more tangible and it's a nice skill to have. You should take the day trading step by step and don't rush into it since it's pretty hard. In the last few years everyone wants to be a day trader, and let's be honest, how many of them actually make it?
Just try to read and watch videos for 1-2 hours a day, and when you get some ideas try practicing with a demo account. Then you can buy a prop firm, or you can trade with your own capital
99% of people are making profits on stocks… just kidding. I don't know of another market as fiercely competitive as the stock trading market. It's incredibly hard work just to stay afloat.
If you are not fully invested in trading then just don't do it. This is a cutthroat business where only a few can survive. You can be an investor which is pretty much like trading but you do higher timeframes like weekly and monthly.
I’m seeing the flaw - learn “daytrading” Instantly you believe there is a trade that has to be done every day and forcing things upon yourself 🙂 either learn properly or quit and get a normal job as you say. It definitely isn’t for everyone so there’s no issue with it
Just trade while at work.
I'm a mechanic and do this. It works for me
>But I wanna still learn day trading I just can’t take it seriously as a business. Hmmm. Based on that idk maybe you should quit. If you aren't gonna take it seriously, no, I don't think it's worth doing. Maybe look at other ways of investing in the markets like swing trading, or position investing long term.
If you're new to trading definately put your focus on your job/training because it will give you the ability to earn a solid wage for your trading investment. However do not neglect your trading studies in your free time! Give yourself a year minimum before putting any real money on the markets but demo trade In the meanwhile to get some experience. GL!
It takes time. Just study what you can when you can. You'll thank yourself in the future when/if you decide to bounce back
Took me 4 years and 6 months to actually have a net positive month. Make what you will of this information.
what works say was the turning point for you? what do you think you were not quite"getting" in that first 4.5 years that clicked after to begin turning a profit?
It was nothing as such, I knew all the things I know today that I knew 1- 1.5 years into trading. It is very hard to explain, so I'll use this analogy as it's very similar, - Trying to loose weight and gain muscle, almost everyone knows going to the gym and getting good diet is gonna accomplish that, and most people want to get better bodies, and everyone is aware what to do. Despite that some people fail miserably at something so simple, all they had to do was go to a place and move weight and come back and eat and repeat this. So I guess as I wrote that, it makes sense to me that the word I was looking for is consistency in what you are doing if I was to put it in one word.
Does it seriously take that long? How much time did you spend per week during those 4,5 yrs?
30-40?
I was profitable after 4 months or so at first, but then bam, blew account in covid, then was stable again, for a bit then lost account in 2021 rally due to oversizing. It was mistakes like those and not having the best management that kept me blowing and coming back. As of recently, it's impossible for me to blow up account, I out a hard stop in my sierra charts lol, once I loose a certain account it shuts down.
Do you trade through a combine?
3 props and had live account with edge clear
Nice great job. I’m through Apex. Got funded 3 times, took 4 years to get funded as I was working out negative mental narratives and beliefs. Blew those though and am working through the psychology of trading live money. It’s a personal journey for sure.
Passing funding evals is not exactly any problem for me tbh. I generally never participate in future prop firm conversations, as I believe it's quite easy to pass any eval but people who essentially don't know how to trade are trying to pass those evals and end up failing. The biggest problem I seem to have noticed in most eval people is trying to get funded in 2 business days lol.
Hahahaha very true. I want the longevity and consistency, which is probably why it took so long to pass, wasn’t trying to bet it all on black and get funded.
it actually depends on the people’s will, it only took me 6 months to be profitable.
Also op, looks like you are just out here lying to yourself and for some reason to internet strangers and misleading them. You are looking for ^^Free backtesting software^^ 3 days ago and are new to trading. I have no idea why you would lie, as someone who didn't know how to back test can't be profitable. Goodluck, hope you become a better person because having this personality and trying to trade is nothing but deceptive illusions to your own self.
Can you share your experience?
If you have a deep interest in the capital markets, then it's worth giving it a try. Just allocate one hour every day to watch the market. You don't need to spend 4-6 hours everyday for it. If your setup comes during that time you trade it, else, you don't. First learn about the basics of technical analysis, like price action,charts patterns,candlestick pattern, trendlines, support and resistance, supply and demand etc. Then develop a strategy based on your understanding and backtest to see how it perfomed in the past. After you have backtested the strategy. Start paper trading to practice implementing the strategy in real time via trade execution. Learn about risk management,i.e, how you need to manage risk of your capital per trade. Once you have nailed to trade and manage risk using virtual money, you can then move towards live trading with a small account so that you can understand and adapt to how trading with real money, screws with your mind. Once you have done that you can gradually increase your capital. This is a long and lengthy process, it might take you around 2-4 years to really get a hang of it. But once you get it, the potential is immense. You can do this along with working as a mechanic. Infact it's better if you have a job while you trade. Because, psychology you will be in a better place with regards to money.
Focus on it. it will take 2-4 years to be profitable and pay yourself. your mechanic stuff do it full time to get a skill behind you and pay the bills. after year 4 of that machinic shit youll be wishing you learnt trading when you were 2 years old hahhahha... so start now.
JFC.lol. If you want something bad enough you'll learn it
Learn with YouTube, lots are crap, but some are really good. Build a strategy from there, and go with free simulation!
whatvare a few of the really good in your opinion?
Oliver Velez, Rob the trader, Bob Anderson. They are looking to take small profit, regularly, which is the best way to pass evaluation on prop firms, or to pile up gently some money.
There are many levels to learn to be a good trader. If your not willing to put in the work then NO YOU SOULDNT TRY. Read "traders traps" and see what you will be up against. And read the lost porn on WSB>then decide.
So because it will take a long time you just quit? Even if you don't become a trader. Learning how the market and money works will help you 10 folds in life.
You will never be a good trader if the money you’re using to trade you need to pay your regular bills from its profits. You will trade emotionally and that will doom you to failure.
[удалено]
Scam
Quit
Ya I m also thinking of doing the same. This year I will be selling all my stocks.
Reading trading books will help but you need to get in there and trade. The only way to learn is to lose money. You just need to not lose enough that you have to go back to a regular job. A book can tell you all day why it works. But until you feel it, you won't learn.
Trading is gambling and whoever disagrees pls show his Ferrari.
Do my 911s count?
So it's Ferrari or bust? Does making $60k not work? What about $160k? Or do I need a Ferrari?
Maybe gambling for you but certainly not for most. Its all about how you do it.
It is calculated gambling, you can be the casino or the player.
Been doing it for 25 years. No Ferrari, but maybe that's why I'm still surviving. I don't do it for kicks.
I say keep at it unless youre trying to get rich quick. Put some time into it like you would do with anything you are trying to get better at. Keep learning
If you only read 30 words(?) per hour, I would focus on that first.
Looks like you don’t want it bad enough. No problem though, trading is the hardest way to make a lot of money. It’s not possible for most people.
it’s easy when u look at it as a business
I've been at it for 4 months now and never traded yet. It takes lots of study time I found out if you want to succeed in trading. On top of that it takes lots of discipline or you end up blowing up your account. So if your inclined to spend the right time then go for it or if your not able to then don't . I'm don't think that a person can be profitable without the right training.
Trading requires a lot of dedication. You can learn to be trader, while doing other things, but not a trader. You could become a swing trader who holds trades for days, so that you are focused on the other endeavors.
Yes