I'm starting to see that making money is about waiting to see how it goes on a monthly basis, especially when it comes down to investing and trading. So far, I have been able to put a lot of energy into it and it's starting to formulate into an informal system that I keep to just myself. I'm analyzing the chart and coming up with a decent strategy that works and will make money in the long run. Nothing is for certain though, but as long as the strategy averages out into something reliable, it's something that can really be ongoing.
The rule of thumb that I'm teaching everybody interested in me is that you have to be able to understand how much you're risking. You have to imagine how comfortable you would be if you ended up losing it all. You don't really know what's going to happen but you can manage the amount that you can lose and at how much volatility. It really comes down to how comfortable you are with managing your money. Everybody will be different.
A friend's mom was asking me about getting started and I advised her not to do what other successful friends are telling her because the results may vary. It's pretty much being as smart as possible and being patient about gaining riches. This is pretty much about making a living.
