I can't watch the charts all day as I still have a job. But I can jump on and check the market a few times during the day.
This week a did a few paper trades like this, checking the market more frequently when I had a trade running.
I've turned $20K into $32K (compounded) this week on paper.

I think I'm starting to get it. And see where my future lies.
There are still a few more exercises for me to go through, but I don;t think it'll be too much longer before I'm doing this and making real money.

Hi Nigel,
Glad to hear of your success. I don't wish to rain on your parade, but consider yourself lucky. Live day trading is a whole new ballgame. Once you place a trade you must be vigilant to ensure you don't end up losing your money. As Bill stated somewhere else on this forum, close the door, hang out the "Do not disturb" sign, take the phone off the hook and watch your trade like your bank account depended on it, because it does. I know because I was live trading and still lost quite a bit being vigilant. I'm now back at work to build up my bank account again. You will most certainly learn a lot about yourself and the way you think under stress. The decisions you make at the time should reflect the Bill Stacy methods of day trading, and especially for beginners there should be strictly followed. Day trading should be treated seriously when the time comes for you to do so, not that I don't think you are serious, but stock can turn on you at any time of the day without mercy. Practise practise and more practise before live trading. Good luck and maybe we can catch up some time for a coffee and chat, I too live in Melbourne.

Regards
Steve

I can't watch the charts all day as I still have a job. But I can jump on and check the market a few times during the day.

Looks like I'm the same boat as you Nigel. I'm planning on taking leave from work to do my paper trading.

In the meantime I'm planning on printing off some daily charts and practising recognising entry and exit signals.

I'm in Melbourne too and happy to catch up for coffee :)

Thanks for the feedback guys. I know it's an up hill slog, but the view from the top should (make that will) be worth the effort.
For now I'm sticking with the basics, 11am rule, no internal trades etc. I figure once I'm making money from this I can afford to look at learning other methods and signals.