Becoming A Full Time Trader
Becoming A Full Time Trader
Becoming a Full Time Trader
In Singapore, there is a structured education system in place. From a tender age of 6, we will go through a spate of educational levels till we achieved some form of tertiary certification. Therefore, never in my wildest dream I am going to become a full time trader. Since young, we are framed to get the best possible and stable job, with the highest possible remuneration. Becoming a trader is exactly the opposite. It may or may not offer good returns, and it is definitely not a stable job. In fact, I rank it as the second most dangerous activity after war. Yet, I am about to engage it.
The initial years
When I stepped into the workforce at age of 21 in 1999, I had already started investing. I put in a monthly contribution into a unit trust. I do not know how well the trust is doing nor do I keep track closely because I believed investing is for long term. Other than this, I would always aim for Initial Public Offers, otherwise known as IPOs. During the dotcom boom days, getting a few lots of IPOs every time is a virtual guaranteed profit. It was only a matter how much can be made. For a young chap, making that kind of easy money IS the first step to financial ruin. Well, I did not really get dumped badly, but when the dotcom euphoria went busted, I returned all my profit together with some exorbitant interest.
The Learning years
So, I rested and consolidated (like a stock) to rebuild my ammunition base. I also took up a degree course in Business Administration where along the way I learnt to read company accounting books, thus ending up as a fundamental investor. I got really excited that I am along the same wavelength as Warren Buffett, but as it turned out, I am one of the millions Buffett wannabe who did not quite make it. Returns were ok, but somehow I don't feel the commensuration is worthy of the effort I put in.
Learning Technical Analysis
This was the life changing event of my life. In April 2009, I learnt trading FOREX. It was mind boggling initially because the charts and indicators were so complicated to comprehend. But I persisted. I attended more courses on Technical Analysis, and continued to apply them, trading stock and FOREX. For a start, results were not awesome. But the keenness in it kept me going. Every time I failed, I will review to understand where did I go wrong and attempt to avoid the same mistakes. I am slowly, but surely, picking up Technical Analysis.
Becoming a Full Time Trader
Towards the end of 2009, besides FOREX, I started to explore other derivatives like Futures. Essentially to become a full time trader, trading derivatives will be more viable, and easier to enter. Usually there are some leveraging elements involved, thus it can be started with about USD $5K to $15K. Of course, trading skills played an important role. This is where I am still picking up. I still have about 3 months before my contract with my current employer ends. After that, I will go full steam ahead. I had also started a blog A Timid Trader to constantly inspire and remind myself because I deem it is important record a chronicle to review my actions so I can continuously improve myself. Ultimately, becoming a full time trader, a successful one that is, will be my goal. Right below this article you are going find a link to discover more about how to become a full time trader by using technical analysis to trade for a living. Watch Tampa Bay Buccaneers vs Cardinals Online Sunday, October 31st at 4:15pm Eastern Earn an Online degree in Trinidad and Firmly Grip over Success Watch Seattle Seahawks vs Oakland Raiders Online Today Sunday, October 31st at 4:15pm Eastern The best online shop of English Premier League's football clubs for women Washington Redskins vs Detroit Lions NFL week-8 ||Washington Redskins vs Detroit Lions online tv Position Sizing- Can Small Investors Trade Forex At Higher Time Frames? Watch Unstoppable Online Watch "Step Up 3D" Online 2010 Watch The Other Guys (2010) Online Watch Online Thru the Moebius Strip (2010) Having the Mindset for Creating Wealth Online Watch "Flipped" Online 2010 Finding Aberdeen Hotels Online