Here's a complicated newbie message that's way too long. Sorry in advance. I should also point out that I've read a HEAP of threads here (which are awesome), some books and sites and blogs and newsletters. But I guess that's all compounding the problem at the moment...
What I'm after here is a ten minute post from anyone who might be interested in being my set-and-forget mentor. That is, give me some advice today, and that's it. I'll do the rest. Well ok, I'll probably haunt this place asking questions, but there's no obligation from you to answer them.
I am willing to study for hours a day. I am willing to paper trade for a long time to get the hang of things. I am willing to read everything you tell me to read, spend the money you tell me to spend, and do the hours you tell me to do. I am willing to suck up losses, examine my screwups, and document everything. I might even start a blog so the ASF folk can enjoy my flailings-about, and other newbies can learn what not to do.
I need edumacation, but I am a focused, obsessive freak - which is something of a disadvantage at this stage of my knowledge. I like to jump into something with both feet and learn it to death, not pick away at the edges. My problem here is that I'm a bit cross-eyed with the huge range of options available for trading. There are lots of styles, markets, software packages, systems, instruments, etc. The time and effort that it's going to take just to tick off a bunch of things that won't work for me is depressing - there's such a depth of knowledge required to get a decent handle on anything that's it's hard to tell what I want to obsess about. Sure, a couple of months of study (and I've started, of course) would give me a better feel, but I'd really like to fast track that couple of months and get started on the several years it's going to take to get good at whatever I end up picking. And yeah, I fully expect to move across boundaries a lot once I get any good at something, but I really want to pick something to get good AT first.
You guys know more than me. Please pick on my behalf.
I'm a shift worker, and I'm basically a glorified security guard: I have a lot of free time. That gives me buckets of time to read and study at work, though I can't trade from here (except to duck out once or twice I guess).
That also means that I can't have a consistent time to dedicate to trading each day from home: I have a 1 in 5 chance of being at work at any hour of the day. That does mean, though, that unlike 9-to-5ers I do have a good chunk of business hours to myself.
I have small kids, which will seriously limit my availability during daylight for the next 5 months, but after that they'll be at school during business hours, so I'll have about half of all business hours available to trade. I will always have a good chunk of my nights available: I don't sleep much.
I am willing to quit my job at any time once my trading is good enough to let me do so, but I don't expect that to happen for a long, long time yet. If ever.
I have 60k wandering around the share market at the moment (doing pretty well, but it's been a good time to be long shares so I don't consider that to be down to my abilities), and I have an investment property whose rent currently pays the interest, from which I can draw another 40k (which can be locked in, interest only, at 7% tax-deductible). So call my available capital 100k - but happy to work with less.
Having said that, sitting on shares is a bit boring - I think I have the time and the dedication to be doing better than pottering about with long trades, and I enjoy hyper-focused optimization stuff (that's what I do at work when work is being fun, and in my hobbies).
I've got 2.5k a month marked as investment money to be added to the pot starting 1st of January. I intend to reinvest everything - I'm aiming to grow my money as fast as I reasonably can, and I don't need any of it to live on.
What I'd love to get from a few people here is something like:
"You should look into trading this sort of thing, in this market, using this system and with this software. Here are some good books to read, here's a good blog, and here are some other resources. Make sure you don't do this".
Just keywords will do - I'll look it up (scalp HSI? Ok). Hell, a link where this is already answered would be great.
But if you're willing to go into details, software to use, books to read, markets to get experience in, all of that would really help me shave off a couple of months of faffing about, and I would love you and you'd eventually go to heaven or valhalla or wherever you'd like to go. Probably.