Received 3 Karmas
Palmer
Palmer Jul 15, 17 8:04 AM

Do you have a solid system that you have been trading for a few years that is at least 65 to 70% profitable? Are you finding plays on your own or trading off of chat-room comments? You must be self sufficient 95% of the time and the other 5% being maybe what another trader mentioned. Nothing wrong with that.

Palmer
Palmer Jul 15, 17 8:07 AM

The point is...write down how much things cost you every month and then maybe add another 25% of "just in case" money and then determine what size account you need to mechanically make enough $ month after month after month. A large account is easier to sustain yourself because you can take larger positions and still look for the same 20 to 25 cent move...sounds like Tim? Yup. He can take larger positions but he still maintains the same profit goal.

Palmer
Palmer Jul 15, 17 8:09 AM

Some people trade to supplement income and I think that is what most people do. But, if you are younger late teens or early 20's you are in the better position to do this for a living because you have less responsibility and have more time to learn all of this. Some of us, including myself , are doing this so when we retire from out real jobs our next job, which a lot of people have to do, would be to trade the markets.

Palmer
1
Palmer Jul 15, 17 8:10 AM

It all depends on your current 'life situation' to give ourselves a reality check if we want to trade for a living. It's a lot easier said then done but a LOT has to be taken into account for it to become a reality.

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