Trading Stocks For A Living

21st November 2011 0 By Camasu

By camasu
Hopefully it will inspire you to make a change.
Like I said last year. I do not trade stocks for a living but I am observant. I own a business so I can see what other professional full time traders do to make a living.
There a several things that I know you MUST do before you begin a trading business:
• You must eliminate all of your personal debt.
• You must be well capitalized.
• You must have a logical trading system.
• You must follow strict money management rules.
This is true for most any business. You have to have your ducks in a row before you even begin.
But there is one major problem that I can see if you decide to trade stocks for a living. This is no small problem either:
Draw Downs.
You WILL have draw downs. Every professional trader goes through periods where they lose money. Anyone that tells you otherwise is a liar! How will you deal with this?
build this website. Yes. They make a living from their website. You’ll be shocked but inspired.
Anyway, back to my point. If you want to trade stocks for a living you would be wise to come up with other ways to make money to compensate for draw downs. A LOT of professional traders do it. Very smart.