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Is it Worth It!!!

  #25 (permalink)

Leeds UK
Trading Experience: Intermediate
Platform: FXTrade
Broker/Data: Interactive Brokers, CapitalSpreads, Oanda
Favorite Futures: GBP/USD
Tymbeline's Avatar
Posts: 429 since Apr 2015
Thanks: 1,044 given, 552 received

navionpilot View Post
I am an Inexperienced Trader

We all were, originally.

My big question for you is why intraday trading, specifically, interests you so much?

Anyway, you've had some excellent and insightful responses above (especially from Kevin and Matt).

navionpilot View Post
I bought the Al Brooks Training Course and I've been going through it

That's a good thing to have, and to do. I'm not quite sure it's such a good thing to have and to do at your stage of the proceedings, though.

navionpilot View Post
I'm starting to realize there will be months and months and months if not years of learning or trying to learn and at the end when finally I feel comfortable trading my own money I end up losing it all

You got the first part of that right, almost certainly, but that doesn't have to be the outcome, if you postpone funded trading until you really know what you're doing, are on top of the focused education and screen-time practice you've had, and don't use real money until you've evolved a method of trading that gives you a genuine, proven edge (that means first learning how to identify reliably when that's so, which is neither an easy nor an intuitive skill to acquire!) and have recorded and analysed the results of a few hundred consecutive trades (on a sim account) without losing money and without having any frightening drawdowns.

navionpilot View Post
or that I'm so far into it now that I have to keep going because of all the time that I have invested in learning.

That would be a very bad and inappropriate "only reason for continuing", in my opinion.

navionpilot View Post
I'm at a point in my life where I want to learn something new that is fun and exciting.

It might be suitable for you, then. It can be that. As long as you go into it with appropriate expectations, and not wanting to make steady income quickly. There's almost no realistic chance of that.

If it helps, the "one big thing" I wish I'd understood clearly at the outset is that trading isn't about how much money you can make and how quickly: above all else, it's about how you can learn to manage risk and preserve capital.

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