How Difficult is it to Trade?

This is a discussion on How Difficult is it to Trade? within the New to Trade2Win forums, part of the Reception category; I am quite new to this arena of trading but from what I have observed so far, Shakespear has summed ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Jun 21, 2010, 3:34am   #46
 
8 Posts
Joined Jun 2010
Re: How difficult is it to trade?

I am quite new to this arena of trading but from what I have observed so far, Shakespear has summed it up quite nicely. From those mentors I have been following to help me acquire the skills and knowledge I need to succeed, I also notice that the greater the humility of the trader, the greater the appreciation they have to continue to learn and expand themselves from others rather than suffer from an overinflated ego and stop learning altogether.

Good solid info in your reply Shakespear; thankyou!



Quote:
Originally Posted by shakespeare515 View Post
The difficulty depends on the trader. Everyone has strengths and weaknesses. you never know what yours are until you try. Most people can understand the setups, it's the discipline that gets most people. And you cant tell who will have good discipline from the beginning. I have seen people I would have never guessed would be good traders, and they turn out to be fantastic. It has nothing to do with intelligence. More to do with humility.

But with a good mentor. It gets a LOT EASIER!

...good trades,

Sam
Miss Tint is offline   Reply With Quote
Old Nov 4, 2010, 5:53am   #47
Joined Nov 2010
Re: How Difficult is it to Trade?

It's not difficult to come up with trades, what's difficult is handling the losses. Haha
littlebopip is offline   Reply With Quote
Old Nov 4, 2010, 3:06pm   #48
 
fayalac's Avatar
Joined May 2008
Re: How Difficult is it to Trade?

I understand the joke, but that is preciselly the fear...., its not difficult what is really dificult is to beat your mind...., the rest is easy
__________________
Most people dont want to know the truth because they fear their dream will be destroyed....
fayalac is offline   Reply With Quote
Thanks! The following members like this post: glyder
Old Mar 6, 2011, 11:08am   #49
Joined Aug 2009
Re: How Difficult is it to Trade?

1. A decent strategy

2. A set of rules

3. Discipline


All that is needed is the 3 to implement 2 relating to 1.
Ambrose Ackroyd is offline   Reply With Quote
Old Mar 6, 2011, 12:48pm   #50
Joined Jan 2011
Re: How Difficult is it to Trade?

Trading is extremely difficult. My approach is also extremely simple, despite the fact that it's entirely discretionary.

The main difficulty is maintaining the patience to only take good trades. This is easier than it used to be but can still be extremely hard at times. This week was a good example.

I got about 0.5R from a trade that (had I simply followed my exit strategy) would have yielded over 4R. 4R is plenty for an entire month.

To make matters worse, there was no good excuse for not following my strategy, I simply became distracted, moved my stop, and the rest is a painful history.

Since then I have had 3 trades all of which ended up at break even because I followed my strategy.

I now have two devils. The first is the temptation to abandon my exit strategy, and the second is the desire to trade to make up for the money I did not make.

Patience and discipline is what it really comes down to.

Trading is simple. The best way to make it easy, or at least easier, would be to not need to trade.
Pazienza is offline   Reply With Quote
Thanks! The following members like this post: glyder
Old Mar 26, 2011, 10:24am   #51
Joined Apr 2010
Re: How Difficult is it to Trade?

Bottom line when trading (how many times have you heard that) is you are betting on a number (the index /share price ect)

You are betting that number A (your target/limit order) will be reached before number B (your stop)

Next find good probability trades and employee good money management.

Sounds easy but it is not. phychology plays a massive part in trading anyone who does not believe that should read the disciplined trader by mark douglas.

I believe the human mind is actually set up to fail at trading (letting losses run in the hope they will come back ect)

Just my (very) humble opinion.
tim3 is offline   Reply With Quote
Old Apr 18, 2011, 7:19pm   #52
 
1 Posts
Joined May 2008
Re: How Difficult is it to Trade?

Trading is not that difficult if one has a well backtested plan and trade it like a machine.
rkripal is offline   Reply With Quote
Old Apr 19, 2011, 8:01pm   #53
Joined May 2010
Re: How Difficult is it to Trade?

The key is;focus. Most on this forum are failures because they flit around and arrrrrrrround , one minute with pin bars, once they haven't even broke even with that, not to worry as there's a nice little quick 5 pips per day system you think you saw last week while googling.

GET A FOCUS! whether it's discretionary S/R, a mechanical strat, pin bars, stick with one thing dammit. I can't believe how much focusing on a handful of setups, documenting results , and not giving up after 5 losses, has improved my trading.
Chartsy is offline   Reply With Quote
Thanks! The following members like this post: LoveToTrade
Old Apr 19, 2011, 11:53pm   #54
Joined Oct 2008
Re: How Difficult is it to Trade?

It’s very easy and its boring and time consuming.

The trouble is that to do it right you risk 1-2% of your account, to get the same sort of return. So your return is relative to the money you already have.

If you do not have much money (account size) then it is hard to bother with for the time spent. Money is relative so I would imagine the same is true for a very wealthy person.

A lot of people are attracted to trading with ideas of excitement and making big money fast.

When the realities of a marathon and the non-existence of the quick sprint kick in, people find it hard to accept. So they either risk to much size or go on a continual search for new methods known as the holy grail, or find some other way to blow up, or they never really fully commit to the account size and time needed.
Jason101 is offline   Reply With Quote
Thanks! The following members like this post: tim3
Old Apr 21, 2011, 12:08pm   #55
 
robster970's Avatar
Joined Dec 2008
Re: How Difficult is it to Trade?

Trading is like making love to a beautiful woman.

Let the lady in question come to you. Then time your entry to perfection using a decisive move that demostrates commitment and conviction. Stay in for as long as you can using a great degree of skill and self-control. Finally take an exit and well earned reward.

This is why scalpers make terrible lovers.
__________________
Confident about your performance? Perhaps you should consider the Dunning-Kruger effect
robster970 is offline   Reply With Quote
Thanks! The following members like this post: timsk , HowardCohodas
Old Apr 27, 2011, 7:53pm   #56
 
8 Posts
Joined Feb 2011
Re: How Difficult is it to Trade?

I’ve actually adjusted my work schedule to leave earlier JUST to avoid “the crazies” on the road. You know, the drivers that make the evening commute feel more like an episode of The Dukes of Hazzard?!? I was able to access the best mix of streets and freeways and rode the crest of the traffic wave instead of being stuck in the middle of it.

This strategy worked because I had total situational awareness of the risk involved with traveling and made the necessary adjustments down to the time and route to take. So much so, that I knew if I was 10 minutes late getting out the door I was in for a white-knuckled thrill ride.

Properly trading futures is not far from this seemingly dissimilar analogy. Futures in my opinion have received its “boogey-man” reputation out of a natural fear of losing your money, but that happens largely in part to not properly assessing risk. Plus there’s such a total lack of understanding in the trading community as to why markets move in the first place. Once this instrument is put in the proper perspective and executed appropriately, it becomes more attractive than just about anything else out there. It has a much lower barrier to entry than whole shares and the fact that it’s leveraged is a plus, but only when that’s properly applied.

This approach has been working for me like clock-work regardless of market condition.
__________________
– Trading All the Right Signals
Madisonsdad is offline   Reply With Quote
Old Jun 26, 2013, 4:57am   #57
Joined May 2013
Re: How Difficult is it to Trade?

Quote:
Originally Posted by Jason101 View Post
It’s very easy and its boring and time consuming.

The trouble is that to do it right you risk 1-2% of your account, to get the same sort of return. So your return is relative to the money you already have.

If you do not have much money (account size) then it is hard to bother with for the time spent. Money is relative so I would imagine the same is true for a very wealthy person.

A lot of people are attracted to trading with ideas of excitement and making big money fast.

When the realities of a marathon and the non-existence of the quick sprint kick in, people find it hard to accept. So they either risk to much size or go on a continual search for new methods known as the holy grail, or find some other way to blow up, or they never really fully commit to the account size and time needed.
Riding a bicycle very easy, too -- after one has the right equipment, time to practice and learns how to do it.
t2w34035 is offline   Reply With Quote
Old Jul 21, 2013, 8:18am   #58
NVP
 
NVP's Avatar
Joined Jun 2004
Re: How Difficult is it to Trade?

well - the answer is not in get rich quick seminars so dont waste your money
N

Trialling 'learn to trade' stock market websites: can you get rich quick? | Money | The Guardian
NVP is offline Coach/Trainer   Reply With Quote
Old Feb 19, 2015, 10:32am   #59
 
5 Posts
Joined Jan 2015
: In essence, Learning forex its easy, but mastering its the Hard Part. You can learn the basic rules, technical analysis, fundamental analysis, candlestick, pivot points, time frame, trend lines, Fibonacci, support & resistance, price action, leverage, money management and position sizing, you can even Learn a hole system and methodology to trade mechanically and even with that you can lose money.
gregkevin is offline   Reply With Quote
Old Mar 18, 2015, 8:46am   #60
Joined Mar 2015
Trading Forex is not an easy task if your aim is making a consistent profit over time. And it takes quite a long to achieve this goal.
amazingfx is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Is it really that difficult? tysonlbc Home Trader 89 Aug 13, 2018 4:20pm
Difficult decisions! wasp The Foyer 11 Mar 19, 2007 4:16pm
Difficult To Describe! timsk General Trading Chat 5 Jan 18, 2006 10:14am
Which is more difficult? Day-trading or position trading Dispassionate Home Trader 42 Nov 23, 2005 5:29pm

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)