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 think about trading like I think about surfing! I you can ride that big wave you will end up ...

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Old Oct 23, 2008, 1:22pm   #25
 
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I think about trading like I think about surfing!

I you can ride that big wave you will end up making a lot of money!

Some waves are difficult to catch / ride, and on some of them you might even lose your life.
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Old Oct 24, 2008, 3:33pm   #26
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Originally Posted by Hoggums View Post
Personally the hardest part about trading is NOT trading. Avoiding that temptation to get in when you think it's a "banker" but doesn't fit in with your trading strategy.

I find these are actually my worst trades and it's taken me a long time to learn to sit on my hands.
I found the answer to this one is to run a demo account, whenever I am not sure, or it does not meet my creteria 100%, I trade on the demo it gets rid of that mouse click temptation!
but there have been times when my gambles have proved right, Would you believe I sold cable at 1.7450.on the demo
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Old Oct 28, 2008, 12:33am   #27
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If 90 % of traders fail, then I guess that's a clue to how difficult it is.
The thing is trading is very counter intuitive. A bit like a golf, the harder you try and hit the ball the worse you play. To do either you have to discipline yourself to act in a way that does not feel natural.
Keep on practising until you over ride all the natural intuitive stuff. The problem is that by the time you realise this , you won't have any money left.
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Old Oct 31, 2008, 2:25pm   #28
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Originally Posted by mpjordan View Post
If 90 % of traders fail, then I guess that's a clue to how difficult it is.

No, 90% of people who try to be traders fail.
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Old Nov 3, 2008, 6:32pm   #29
 
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If you can master YOURSELF - you can master the market..... !!
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Old May 29, 2010, 11:44pm   #30
 
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Re: How difficult is it to trade?

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Originally Posted by trader911 View Post
It's not an easy thing to be a trader because it's a big risk. You are investing money, time and effort. It is difficult to anyone who is not willing to learn how to trade but it's not rocket science. If you work hard and learn the market, it shouldn't be that difficult.
It's not easy to start any business though. I have often met people who have large debts taking years to pay off because their businesses failed. Any sphere of operation - import/export, decorating, opening a shop, financial advisory services, you name it.

Those are just more acceptable things to most people in society, so perhaps they perceive the risk to be smaller.

I guess it's why parents advise their children to become lawyers, doctors and accountants. Good money for low risk.

So what was the conclusion of this thread though anyway? An open verdict?

In comparison to other professions, to become a successful trader, on a scale of 1 to 10, where 1 means occupations like dustman, streetsweeper, McDonald's staff and 10 is astronaut, armed forces commander, international drug baron, I'd say it was 8/10.

On the one hand, you can start trading if you decide to, you don't have to persuade Goldman Sachs or Deutsche Bank to employ you first, which is presumably very difficult and I'd imagine only 1 in 20 or even 1 in 50 people who apply are given trading positions.

But after starting, 9 out of 10 or perhaps 19 out of 20 hopefuls will lose their capital and stop. So if you think about it in comparison with applying for a job at Goldman Sachs who reject 49 out of 50 candidates, it's actually easier.

There's a poll at the moment asking how many people are actually active full time traders making a living at it. The answer is anyone's guess. It might be a lot less than we think. only 19 (50% of people who answered the poll) say they are, but almost 1000 people have read the thread - so assume the rest of the 1000 are people who are trying but not succeeding, that's 1 in 50.
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Old Jun 8, 2010, 11:09am   #31
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Re: How difficult is it to trade?

As an ex forex and money market trader now doing my own thing( and yes I am one of the 19 in the other poll-never done anything else .) it is painfully obvious why most but not all fail. .Truth is we as home traders are trading blind. That is why most fail. We are clueless as to the positions of the major players who can move a market in an instant . There is no substitute for sitting on a forex desk and listening to **** bank trying to unload a huge or maybe not so huge position regardless of what the MA or Fib tells you and acting accordingly. Traders talk to each other constantly and we at home don`t get a sniff until its happened. Trading is a high kudos profession and I guess thats why most people fancy a go but hey so is being a Surgeon but I wouldn`t try it without years of experience. Majority of people just plain shouldn`t be doing it end of.
Sorry for rant
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Old Jun 9, 2010, 9:13am   #32
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Re: How difficult is it to trade?

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Originally Posted by tommac View Post
As an ex forex and money market trader now doing my own thing( and yes I am one of the 19 in the other poll-never done anything else .) it is painfully obvious why most but not all fail. .Truth is we as home traders are trading blind. That is why most fail. We are clueless as to the positions of the major players who can move a market in an instant . There is no substitute for sitting on a forex desk and listening to **** bank trying to unload a huge or maybe not so huge position regardless of what the MA or Fib tells you and acting accordingly. Traders talk to each other constantly and we at home don`t get a sniff until its happened. Trading is a high kudos profession and I guess thats why most people fancy a go but hey so is being a Surgeon but I wouldn`t try it without years of experience. Majority of people just plain shouldn`t be doing it end of.
Sorry for rant
You're so right, you have to 'know your place' in the food chain and we are playing with the crumbs brushed off the laps off the big guys...Level 2 gonna help? LOL gtf...There are 10 big international banks that *possess* about 73% of all trading volume...endex...
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