As with anyone new to the field I have a ton of questions, but I'll try not to make too huge a post because I'm sure I will learn these things in the coming months.
Firstly, a little background of myself; I'm a 25 year old professional online poker player for the last 3 years. One that has lived life a little too lavishly (travel, unnecessary material items, etc) so my savings relative to income aren't what they should be. I have ~50k in the bank, and have an after tax income of ~100k p/a. I'll also be looking to buy a PPR with my partner at the end of the year.
I have no completed university degree - left halfway on a computer science/business electives course before leaving for poker - and little to no current knowledge of the markets. Of course, I am feverishly digging through all the information I can right now.
Now, what currently interests me (I'm sure it will change) is day-trading - It shares the most similarity to poker. I'm more than content to spend 8 hour days in front of the computer as that's basically what I do now anyway. I realise this is for income generation and that I'd like to also have a small percentage of my capital (20%?) in long term investments for capital growth and passive dividend payout.
My vision of day-trading is making as many profitable trades as possible with any assumed edge that covers the brokerage fee (as if I haven't paid enough rake in my lietime!), of course finding those edges are my problem right now but I plan it to be all TA with as small as 1 minute charting. I haven't even begun learning proper strategies, or the lengthy process of paper trading.
Like I said I don't have formal education or knowledge right now, but what I believe I do have is a very high level of tolerance to emotional swings, concepts of expected value, bankroll management, being self-motivated, driven to learn and I did just test in the 99th percentile for quantitative reasoning.
Is my vision reasonable? I realise it's not commonly thought to be easy for a novice. I haven't fleshed out any actual plans for starting capital, strategies etc, yet.
Brokerage fee's for day-trading stocks are huge, best markets for this? Forex? Futures?
What is the variance like in trading? I.E how often would an experienced (read: profitable) trader have a positive day/week/month/year?
Is there a good way to review your trades? In poker I can bring up the hand history and decide if I made the best possible play and make corrections if needed.
In poker I was able to work with a mentor/coach and pay him a percentage of my profits, does this exist besides at a prop shop - that I believe only run in sydney anyway?
Do I need to go out and get a formal education?
Where does my edge come from? Is it that being so small I can make profitable trades that advanced huge systems wouldn't bother touching? I make money from the volatility of people investing in longer term strategies? How do I compete with big business?
Hopefully that isn't too much I really do get the same feeling while learning about the stock market as I did when I first discovered poker. I can't get enough of it. People told me I couldn't make poker my living and how such a small % make it, I did. I hope I'm going down the same path again.
Thanks for any help.