Perhaps the most important step of all that helps a retail trader to make the leap from rookie to professional is to enroll in a private mentoring program. When I started trading for a living, I had a part-time job to carry me through the initial six months where I wasn’t profitable. We are planning to move in a few years (better timezone/better for trading) and once my child starts school, I should have more time of my own.

This book is a good starting point for those who want to have a larger perspective of this complex mechanism. As the bills come every month, the pressure on the trader’s shoulders mounts to the point when he/she starts making terrible trading decisions. I'll talk about expectations and motivation, what a sports trader does day to day, what you can look forward to as a full-time football trader and how to actually get there. Day trading brokers offer various fee structures, and understanding how the fee per trade becomes applicable is crucial when selecting a broker that fits your trading style.You may even find yourself in the same position as a number of Goal Profits members who have started the transition and stuck at part-time because they enjoy it so much. I find this book helpful as an amateur trader, and I'll find this book helpful as a professional trader too because this book tells you the difference between the amateur traders and the professional ones, who dare to eat whatever amateur traders are losing. This is not to be confused with the Pareto Principle, a very interesting point in itself and well worth looking into as it does have some relevance to trading. Elder is the originator of Traders' Camps week-long classes for traders, as well as the Spike group for traders. Another increasingly popular service with day traders looking to make a full time living is social trading.

At the end of the day, having a chat about how everyone's trading went, and how some had a good day when you maybe didn't, that can be valuable to hear.If you want to be wealthy and have financial security, you better be a fantastic trader earning way more than you can spend, or you may wish to start reading books on wealth-building in addition to your trading books.

I know many of you want to trade for a living, maybe because you are unsatisfied with your job, or you enjoy studying and trading the financial markets, or you want to make more money. Elder was born in Leningrad and grew up in Estonia, where he entered medical school at the age of 16.When trading for a living, no one is going to tell you to save the taxes that you’ll need to pay on your profits. That’s what I help my students do every day — scanning the market, outlining trading plans, and answering any questions that come up. Whatever you choose, even the simplest method will require a lot more time than some people realise. India, Indonesia or South Africa, for example, not only offer volatile markets for trading, but you also have a very low cost of living, making it more feasible.