Apart from making money, trading is also psychological learning and experience. There is more than meets the eye. The psychology of a professional and successful trader is different from that of a beginner. They have mastered trading psychology. It enables them to look where others cannot imagine and quickly find that profitable needle in a haystack. The more time you spend on research, the more smart your investment will be. Trading Psychology is one of the most important qualities when it comes to Forex trading. What about you mate?
you're seeking response from say maybe 5% or less that are actually making money from trading. I think most of our responses would be along the lines of : ruined my life wife left me went homeless contemplating suicide at one point got fat and ugly...and still broke
Anyone honest will say that it will challenge you in ways you never imagined. It can be VERY frustrating, but also very rewarding. NO, more research and information will not make you a profitable trader. Once you see the potential you will be hooked to go on this journey.
For me it has been: - How to be comfortable with loneliness - Losing is part of being successful, just don't lose everything
And how to be focused on what's important and be objective in viewing news and information. I got pretty good at recognizing fake news ever since I started trading.
As a new trader (2 years), I've experienced the elation of great success (2020), the humility of breaking even (2021) and the shock of losses (2022). In the process I've tried to find my trading style, which I see as one that makes me want to trade, on the basis that I don't need to trade for a living (I'm retired early) yet trading can financially take me well beyond my retirement expectations. So, from my experience, the key to trading is great self confidence, which I define as openness to various inputs, ability to properly synthesize information and then living by your decision. Loss of self confidence should be the most glaring warning that trading may not, or no longer, be your calling.
I think the longer you trade independently the weirder you will become. I only know one normal person who has been an independent trader over the last 20plus years. Admittedly my sample size is very small (a handful of people) as most traders don’t make it that long.
Around 10 years ago I saved a bunch off money and traded/gambled a few years (which didn't work out so I had to find a job again). To be honest, it was a bit dissapointing and certainly not all glitter and glamour (for me at least). Maybe you become somewhat more 'responsible' because you will feel the result of your own actions immediately. And as newwurldmn says, you have less 'correction to normal' so weird behaviour will amplify a bit. It still is best to live in a 'structure', so structuring your days and week will help a lot and make you feel better. With working from home in covid-times most people experienced it to some degree i guess. If you became a caveman then, you will probably and up as trader-caveman.
If you can learn to "read the market", you'll take almost all of the guess work out of trading. Your brain becomes a money machine.... and you can take money from the market any time you want... like an ATM (not limited to $300/day withdrawal, however. ) Nobody can fire you or lay you off. You'll have financial security. That's the REAL reason most get into trading. It's just a job*. * Has great perks however. In what other job can you take off any time you want without getting the stink-eye from the boss (wife not included, of course). Or dip out for a hair cut... Or play golf any time you want... Or go on a 3-month vacation if you want, and you job will still be there when you return Or "go to work" in your underwear? Or drink beer while you work? Plusses all around !
I think that experience in general helps traders go from being confused beginners to more adapt traders. Thinking the right way psychologically is yet another advantage.