A little background info on myself, I just finished my first year of college as an economics major in Boston. The reason i declared my major so early was due to my high level of interest in the financial markets as well as the field itself. I have always been interested in trading, but never really had the time to immerse myself into the art, until recently i found myself with plenty of downtime. I joined futures.io (formerly BMT) with the hopes to advance my non-existing trading career. I plan on doing this by familiarizing myself with a few different systems/methods that suits my personality. Along with becoming proficient in the use of any software i will be using in my journey. After that i will start a sim account along with a journal on futures.io (formerly BMT). That basically covers my summer, along with a part time job if i can find one.
Thanks for reading, appreciate any tips, resources, or words of engorgement.
1) Focus on one market, one timeframe, and one setup. It'll take you a while to find the ones that are suitable for you. Give yourself lots of time. Trading is not a get rich quick scheme. If you think otherwise, the market will correct that perception quickly. Be smart about this.
2) See what others are doing on futures.io (formerly BMT). You don't need to repeat their experiences to learn the lessons. Specifically, read what other, more experienced traders post about (@Fat Tails and @tigertrader come to mind) and what their views are about pertinent subjects. Experience counts for so much in this business. Don't think you know better than more experienced traders because chances are that you don't.
3) Never go live without a profitable record on sim. If you can't beat the sim over a reasonable period of time (I say 2 months), you definitely cannot trade profitably live.
4) If you find that trading's not for you, quit. You'll save yourself lot of time, money, and heartache.
"...the degree to which you think you know, assume you know, or in any way need to know what is going to happen next, is equal to the degree to which you will fail as a trader." - Mark Douglas
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