Member Profile: options-george


33 ratings




03 Dec, 2015

in Interviews

My Background
Last month I turned 40. I have spent my life in equal thirds in Germany, New Zealand and the UK. Initially I qualified as a chartered accountant in NZ. But since the age of 25 I have always worked as a contractor, a freelancer or just independently in some form. I have tried and failed and tried and succeeded at quite a few things. I developed a habit of putting money to the side when the ‘sun was shining’, and that’s allowed me to get involved in various opportunities and to have a bankroll when needed.

Since August 2013 I have been trading full-time once again. In the two years since then, I have not made any profits from trading. I have not lost a lot either – I have approximately gotten to the point where I am breaking even or losing just a little from one month to another. I am not used to having to work so long without seeing success.

In this Member Profile, I want to get across my impression that I have found/am finding the journey to consistent trading profits incredibly difficult. Thus, my message is not an overly encouraging one (you have been warned!).

Trading - the early years (2003-2011)
Although interested in the Kiwi stock market as a teenager, it wasn’t until 2003 (in my late 20’s) that I properly started trading and had the first of many full-time trading phases. I began with US stock options – learned what I could on my own, and proceeded to blow up my $15k account in about nine months. After more accountancy work, and another six month full-time spread-betting stint in London at some point, I spent six months in Bangkok, again trading US stock options, trading from 9.00pm to 4.00am local time. This time I managed to keep my loss to just 5-10% of a $20k account.

Looking back to those trading periods now, I realize there were huge gaps in my trading knowledge and I should have approached things much more professionally. I never went on any courses - I just read books and learned online – but my time at the screen wasn’t spent productively either.

On returning to London from Asia, I lucked out scoring a trainee position with a successful independent options trader, who was a market-maker for Euribor options and I spent half a year with him, eleven hours a day, learning a tonne before hitting a plateau and deciding to follow up on some IT consultancy opportunities for an extended period.

Some months after the market-making stint, after reflecting on my various trading experiences, I concluded that I most likely did not have what it takes to be a profitable trader. As one does, what started as something little on the side of the IT work, I stumbled down the road to becoming a serious poker player which led to a reasonably profitable period of gambling professionally online and offline for several years. With that I learned the principles of expectancy and associated variance in results, gambling with an edge, bet sizing and risk/money management and I continued to build a bankroll. Certainly, that was one piece of the puzzle missing in my prior trading experiences. 

I decided to return to the markets armed with this new understanding, this time trading FX – shared an office with a fellow T2W member, who steepened my learning curve. Adventures also included trying out a live trade room trading opening gaps in the US indices and, on my own, trading Sunday night FX gaps as well as a host of other technical strategies on the FX majors. After around 12-15 months of this and getting depressed after a big six week £20k losing streak, I returned to playing online poker and more IT work, this time in France.

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Re: Member Profile: options-george

Trading is hard work and achieving consistent profitability is even harder. i have been trading for 17 years and I can easily empathise with your journey. Your honesty is refereshing considering the BS that is out there in cyberspace.
In trading FX, news and fundamentals are very important to success - a point which I realised very late in my career.

Dec 25, 2017

Member (520 posts)

Unbelievable - someone just gave my article a zero out of 10 rating - how else can the average rating drop from 8.1 to 7.9 by one new review?

Clearly I need to improve my writing skills (or my story!) :cheesy:

Donít worry about it.......have you seen the standard of a lot of the more recent members ?

CHrist .....most of them canít string together a sentence let alone rate good articles


Dec 25, 2017

Member (34265 posts)

excellent and honest article

good to read such an honest piece ......I totally respect and empathise with the journey ......real authenticity

always happy to chew some cud in 2018 if you want to me at or my website

ive been consulting again for a couple of years in industry (Iíve been a qualified accountant for many years)....but now planning to go back to full time trading again in 2018

also donít give a fig a about ratings......which I suspect you donít ......I have no idea what my ratings are at t2win......I did a profile a while back I think.......but with nearly 2million views on my main forex thread here I always assume itís been of use to someone or other


Dec 25, 2017

Member (34265 posts)