How Long Does it Take to Make a Stable Income from Trading?

This is a discussion on How Long Does it Take to Make a Stable Income from Trading? within the New to Trade2Win forums, part of the Reception category; Hopefully sooner rather than later!...

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Old Jan 25, 2015, 8:35pm   #136
Joined Jan 2015
Hopefully sooner rather than later!
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Old Jan 29, 2015, 2:16am   #137
 
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this is my 10th year.... i can see the light but yet to reach it. here's been some nice very nice patches over the 10 but I'm still more of a consistent loser then winner, being totally honest with you all.

what i do know is this. it's my bad trades that are holding me back. as i make a lot of wins just my poor discipline holding me back.

it's a real test of yourself than anything else.
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Old Jan 29, 2015, 4:08am   #138
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Originally Posted by TWI View Post
I have been in for 23 years since I opened my first self directed account. Still lose money as well as make. I estimate it took about 10 years to get comfortable with the loss side and there could be two reasons for that
1. Just grew confident that ultimately I had an edge in what I was doing
2. I got more wealthy and had more disposable income so the loss had less of an impact on my immediate standard of living.
Really not sure which as beyond a certain level of earning the incremental increase has less relevance to how you live day to day.
I do not think there is a normal time for people to make it in this game. If you are lucky you find a clear edge from the start and do not have to work to find it. I have seen traders make a fortune in their first year. I never understood exactly how anybody who made such outside returns actually did it as they were not so keen to share the details. One has to find their own way and comfort zone. Everybody talks about this and it is probably frustrating to somebody coming into this game who has no clue where to start. I suggest you first work out how not to lose money. Always know your outs..always. That means where to cut the losses.
As I progressed I found the timeframe of trades also increased. I met very few day traders, other than the locals of old or the hFt's today who made consistent money day trading. Actually spend more time understanding how things are than trading. The trade goes on only when the arguments against having it have been well explored. I very much like Ray Dalio's approach to ultra realism and for him it has paid off extremely well.
One thing is clear, once you get bitten and find your way, I do not think you ever stop.
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Old Jan 29, 2015, 4:22am   #139
Joined Nov 2014
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Originally Posted by LuKa12 View Post
this is my 10th year.... i can see the light but yet to reach it. here's been some nice very nice patches over the 10 but I'm still more of a consistent loser then winner, being totally honest with you all.

what i do know is this. it's my bad trades that are holding me back. as i make a lot of wins just my poor discipline holding me back.

it's a real test of yourself than anything else.
good and generous post....

I remember once it took me about a good 2 weeks to make constant profit nearly every day just to give all and more away in one day.....emotions and my Ego came to play.

Nowadays if I have 3 consecutive trades I turn the pc off and go to do something else......and do you know what? I have not had a day like that for ages.....
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Old Jan 29, 2015, 6:38pm   #140
Joined Dec 2014
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Originally Posted by LuKa12 View Post
this is my 10th year.... i can see the light but yet to reach it. here's been some nice very nice patches over the 10 but I'm still more of a consistent loser then winner, being totally honest with you all.

what i do know is this. it's my bad trades that are holding me back. as i make a lot of wins just my poor discipline holding me back.

it's a real test of yourself than anything else.
Sorry if this sounds a bit disheartening but if you are in the negative after 10 years then you are probably better of stopping. I doubt someone who has not been able to achieve success in 10 years will make it.

Last edited by New Member; Jan 29, 2015 at 7:03pm.
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Old Mar 18, 2015, 8:55am   #141
Joined Mar 2015
From my experience I will say that it takes quite a long time, at least 1 year until the profit was consistent over time.
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Old Mar 26, 2015, 6:54am   #142
Joined Mar 2015
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Originally Posted by Hua Xia View Post
How long does take make stable income trading? Reply: The more experience gained, the better your trading income. It definitely depend on individuals, stable income trading need more efforts, experience, knowledge, skill and good trade strategy, etc.
I agree, there are many factors!
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Old Mar 26, 2015, 7:40am   #143
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Originally Posted by amazingfx View Post
From my experience I will say that it takes quite a long time, at least 1 year until the profit was consistent over time.
1 year sounds light to me......10,000 hours of trading and you are warming up then

N.
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Old Mar 26, 2015, 7:45am   #144
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Quote:
Originally Posted by TWI View Post
I have been in for 23 years since I opened my first self directed account. Still lose money as well as make. I estimate it took about 10 years to get comfortable with the loss side and there could be two reasons for that
1. Just grew confident that ultimately I had an edge in what I was doing
2. I got more wealthy and had more disposable income so the loss had less of an impact on my immediate standard of living.
Really not sure which as beyond a certain level of earning the incremental increase has less relevance to how you live day to day.
I do not think there is a normal time for people to make it in this game. If you are lucky you find a clear edge from the start and do not have to work to find it. I have seen traders make a fortune in their first year. I never understood exactly how anybody who made such outside returns actually did it as they were not so keen to share the details. One has to find their own way and comfort zone. Everybody talks about this and it is probably frustrating to somebody coming into this game who has no clue where to start. I suggest you first work out how not to lose money. Always know your outs..always. That means where to cut the losses.
As I progressed I found the timeframe of trades also increased. I met very few day traders, other than the locals of old or the hFt's today who made consistent money day trading. Actually spend more time understanding how things are than trading. The trade goes on only when the arguments against having it have been well explored. I very much like Ray Dalio's approach to ultra realism and for him it has paid off extremely well.
One thing is clear, once you get bitten and find your way, I do not think you ever stop.
Excellent post .....I,started trading back in the 1980's and had gambled professionally since the 1970s in other markets

You never stop learning and no ones journey is the same......for me trading is not really an addiction that's a strong and negative word......but I think trading gets in your blood and then you will never stop trading .......so make sure you win over time or it will be an expensive addiction

N
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Old Mar 30, 2015, 3:36pm   #145
Joined Jul 2013
Quote:
Originally Posted by TWI View Post
I have been in for 23 years since I opened my first self directed account. Still lose money as well as make. I estimate it took about 10 years to get comfortable with the loss side and there could be two reasons for that
1. Just grew confident that ultimately I had an edge in what I was doing
2. I got more wealthy and had more disposable income so the loss had less of an impact on my immediate standard of living.
Really not sure which as beyond a certain level of earning the incremental increase has less relevance to how you live day to day.
I do not think there is a normal time for people to make it in this game. If you are lucky you find a clear edge from the start and do not have to work to find it. I have seen traders make a fortune in their first year. I never understood exactly how anybody who made such outside returns actually did it as they were not so keen to share the details. One has to find their own way and comfort zone. Everybody talks about this and it is probably frustrating to somebody coming into this game who has no clue where to start. I suggest you first work out how not to lose money. Always know your outs..always. That means where to cut the losses.
As I progressed I found the timeframe of trades also increased. I met very few day traders, other than the locals of old or the hFt's today who made consistent money day trading. Actually spend more time understanding how things are than trading. The trade goes on only when the arguments against having it have been well explored. I very much like Ray Dalio's approach to ultra realism and for him it has paid off extremely well.
One thing is clear, once you get bitten and find your way, I do not think you ever stop.
Spot on.

For a beginner, I think this is good advice;

‘I suggest you first work out how not to lose money. Always know your outs..always. That means where to cut the losses.’
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Old Apr 19, 2015, 9:47pm   #146
Joined Apr 2015
I guess it depends on the person and how much time he devotes to trade. Well, luck is very important.
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Old Apr 23, 2015, 3:30pm   #147
Joined Jul 2014
It depends on the person, their character and how dedicated they are to learning from their own mistakes.
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Old Apr 30, 2015, 2:56pm   #148
Joined Apr 2015
Hi,

I have been trading more than four years. Still I am struggling to have stable income from trading. I just started to get rid of blowing out account from last 7-8 months and my account is also in plus now for last 7-8 month. But not that much to maintain my livelihood. So I kept it part time.

In my trading career I have met people who even losing money continuously even after after trading more than 16 years.
So the question is very subjective , much depends on proper skills and mindset.
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Old Jun 24, 2015, 4:06pm   #149
 
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Originally Posted by AutomatedTrader View Post
Hi,

I have been trading more than four years. Still I am struggling to have stable income from trading. I just started to get rid of blowing out account from last 7-8 months and my account is also in plus now for last 7-8 month. But not that much to maintain my livelihood. So I kept it part time.

In my trading career I have met people who even losing money continuously even after after trading more than 16 years.
So the question is very subjective , much depends on proper skills and mindset.
You're not alone my friend! just under 4 years too and although I am getting some great results every now and again, i'm still striving towards the ever elusive consistency that we are all looking for. I havent come across anyone who is still going (and hasnt thrown in the towel) not making consistent returns after 16 years, but sure it is only a matter of time! trading can be tough
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Old Jun 24, 2015, 4:08pm   #150
 
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Often the biggest mistake (as I made in my earlier days) is believing that you can "buy" an income by purchasing a system from someone - you have to learn the hard way (or be lucky enough to find an experienced mentor)
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