Can I trade full time?

A good series and explanation about what you need to prepare for yourself to trade full time

Undercapitalized causes
Overtrading
Forcing trades. Lower your standard criteria to trade.
Excessive risk
Feeling behind. Pscychology.
Refuses to lose (snowball losses)
Averaging down trade to exit.
Attempt to nail turning points. Trying to catch top or bottom of market
Underestimating the difficulty of trading. Trading is against the brightest people.
Too much importance on one trade to bail you out of slump. Don't use one trade to make or break your trading
Blowing out. lose it all.
Get married to an opinion
- Major losses, feel the need to "make it up" of the losses.
- Loss of confidence. replace capital is easy, but not easy to replace confidence.
Protect your confidence, don't married to an opinion.
Capital tied up. missed opportunity.

Risk
Comfort with risk. Willing to take some risk, to lose money.
Able to accept winning / losing
Maintain a level head. Regardless of facing tremendous opportunity or facing adversary
Support network. Family member, or spouse supporting you to trade

Needs
Monthly cashflow. Know what is your one year expenditure.Amount set aside.
Desire for stability? Trading involve losing, you may have down days, down weeks, down months. Compound your emotion
Discipline
- willing to put in the work
- Stick to your plan
- Avoid danger/ excitement. Trading can be boring.

PLAN
- A trading strategy that's working
- Understand risk per trade and sizing
- An exit strategy for every trade
- Willing to adapt to change
- What will you trade?
- When will you trade?
- Know when you will NOT trade! outline the boundary not to trade.



Video
Part 1 http://www.i3investor.com/servlets/fdblog/21956.jsp
Part 2 http://www.i3investor.com/servlets/fdblog/22287.jsp
Part 3 http://www.i3investor.com/servlets/fdblog/22807.jsp
Part 4 http://www.i3investor.com/servlets/fdblog/23104.jsp