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; Hello cofton, 12 years is taking all variables into account. One can know what needs to be done to make ...

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Old Jun 12, 2008, 4:44pm   #25
 
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Hello cofton,
12 years is taking all variables into account. One can know what needs to be done to make money, but not be able to precisely apply it. Dealing with platforms, people and the problems that need to be worked out are endless. Hence 12 years.
This has also given you time to trade your system through more terrain.
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Last edited by timsk; Oct 5, 2010 at 12:13pm. Reason: Housekeeping
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Old Jun 12, 2008, 5:08pm   #26
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Hi Depth Trade

I understand where you're coming from but I feel (for me anyway) that 12 years is far too long. As a system goes through more terrain then the system is constantly changing, there is never enough time.

I agree that the problems or issues that need to be worked out are endless and we should adapt ourselves as we go along as none of us can possibly foresee where the market is going to go. We can only speculate, calculate, guess, apply systems or methods or strategies or whatever it is that suits you as an individual trader but at the end of the day the market will do what the market will do and we are powerless to stop it. We are all trying to minimise risk and at the same time make as much as we can or reach our target exit.

Hence this is why I think 12 years is too long, most of us would give up if we ever thought it would take this long in my opinion.

But respect to you, it's a long road and I am sure to will go from success to more success.

I wish you the best in health, wealth and happiness.

Cofton
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Old Jun 12, 2008, 5:15pm   #27
 
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Quote:
Originally Posted by cofton View Post
Unusual figure 12 years, why specifically 12 ? And I doubt anyone could sustain 18 hours per day at the pc. It would drive me nuts lol

Very impressive profile though Depth Trader, I take it you have another 7 years to go then as your trading experience is 5 years.

Let's hope you make it before then and I wish you luck.
It matters which path you want to take. If you want to be like Flipper, making thousands of trades a day, you have to be in front of the screen. You could trade over a phone into a pit, but you'd still probably be watching a screen, just because you can.

I personally am sick of the computer, would much rather have personal contact.
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Old Jun 12, 2008, 5:27pm   #28
 
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Quote:
Originally Posted by cofton View Post
Hi Depth Trade

I understand where you're coming from but I feel (for me anyway) that 12 years is far too long. As a system goes through more terrain then the system is constantly changing, there is never enough time.

I agree that the problems or issues that need to be worked out are endless and we should adapt ourselves as we go along as none of us can possibly foresee where the market is going to go. We can only speculate, calculate, guess, apply systems or methods or strategies or whatever it is that suits you as an individual trader but at the end of the day the market will do what the market will do and we are powerless to stop it. We are all trying to minimise risk and at the same time make as much as we can or reach our target exit.

Hence this is why I think 12 years is too long, most of us would give up if we ever thought it would take this long in my opinion.

But respect to you, it's a long road and I am sure to will go from success to more success.

I wish you the best in health, wealth and happiness.

Cofton
This above quote highlights all.

When trading on a leveraged account your minimul target parameters stay the same, but your risk tolerances increase.

This is the great unkown and why we lose. Murphy's law is increased by the same amount as your leverage. X20, x30, x40 , x50 Take your pick.
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Old Jul 17, 2008, 5:09am   #29
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Years.

Or at a minimum, a few months, of non-stop research, reading books, mags, forums, and even some stories!

Then you put it to the test. You will fail the first few times, but you will have learned about your friend the Stop Loss order. Then you'll find that it's a chance game, and you must "bet" on the best chances.

A good bet is to short gold when the USD surges upward like today! Infact, it's hardly a bet, but you must think of it as a 50/50 win/lose chance.

This game can be the most rewarding and somtimes very painful. Eventually you turn profitable, and it's hella fun!

Happy Fortunes
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Old Nov 8, 2008, 2:12am   #30
 
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The thing that gets me the most is that most people expect to make money right away, or if they don't make money in less than 6 months they quit. When at the same time they don't complain when it takes 4 years of college to get a degree, or over a year to get a business running smoothly.

Now to answer the question, if you have to ask then you shouldn't be trading .
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Old Nov 8, 2008, 1:20pm   #31
Joined Jul 2008
3 months, 6 months, a year, 5 years... how fast can you learn and master yourself? nobody can guestimate that and everyone has a different story and time frame. what the real question should be is when does one call it quits if after say 3 years have past and the same mistakes are being made? anyone can be taught how to trade but unless you can master yourself all that knowledge is not very useful at all.
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Old Nov 17, 2008, 10:25pm   #32
Joined Nov 2008
I think it depends how smart or stupid you are... whether you'll be profitable at all
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