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  • Writer's pictureMatt DeLong

Is self-learn stock trading a viable way to gain money and be self-employed?

Yes, but self-learning is a little misleading as I spend many hours a week on youtube or reading articles to learn new concepts.

The real key is to manage your risk and allow for one of the following three outcomes: small win, large win, small loss, but NEVER a large loss. Before entering a trade, you need to know when to BAIL on a trade if it moves against you (also known as a STOP).

It’s also important to manage your expectations:

YEAR 1–2: Sizable losses, small wins — equity balance will decline.

YEAR 2–3: Small losses, small wins — equity balance will be up/down/flat.

YEAR 4–5: Large wins, small losses — equity balance will increase consistently.

If you go into it thinking you click a few buy/sell buttons and you are rocking $5k/day, you are going to end up frustrated and quit. It will happen eventually, but typically not until years 4+ — after you have time in the saddle.

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