Does anyone here actually make money trading?

This is a discussion on Does anyone here actually make money trading? within the Psychology, Risk & Money Management forums, part of the Methods category; I've been registered here for quite some time. I thought I'd learn something useful here but it seems to be ...

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Old Nov 20, 2007, 11:45am   #1
Joined Mar 2007
Does anyone here actually make money trading?

I've been registered here for quite some time. I thought I'd learn something useful here but it seems to be little more than load of people talking about new systems they've invented, or bought, which they reckon they'll clean-up with, and other people who can program the charting software backtesting said systems only to conclude that they don't work or that they do, but suffer too much drawdown to be worth the effort.

I am yet to find a discussion here that doesn't appear to contain lot of dead horses and a lot of 'would-be' traders flogging said horses with near-mechanical determination. I'm deeply sceptical about the credability of forums like this for one simple reason. If I had methods capable of generating reliable returns I wouldn't be on an internet forum chatting about it, I'd be sat on a big yacht in the Bahamas, making millions on my laptop, and sipping Champagne while toned 18 yr old babes in bikinis rubbed oil into me... and each other.

The longer I try to make money trading the more deeply suspicious I become that actually, the only ones who do are those who are inside some special bubble where exists knowledge that will never be allowed out of said bubble, and those on the outisde will never be let in. There are people out there who make millions trading and they must have learned to do it somewhere, but where... and does anyone here actually make a living from trading... and if so, how?
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Old Nov 20, 2007, 11:54am   #2
 
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ok, you're right, you got me bang to rights, guv'nor, I'll come quietly.

my fantasy bubble of trading has been well and truly burst, and will confess I spend all my day reading T2W and pontificating upon things I know nought about, sipping cider from a can in my dinghy in the english channel. I do have nubile girls frollicking about, but I have to send that DVD back to Blockbusters soon.

I hope God (other dieties are available) will have mercy on my soul.

does anyone have any good recipes for duck?(I seem to have some spare ones waddling about)

NB: quiet day, as the big move north on cable struck before my login time of 7-am, and I am uncertain if it will continue up, or fall back, so am out for FX. waiting for US-session on SPX.
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Old Nov 20, 2007, 12:12pm   #3
 
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Trendie,

You've been a member since early 2004. Good job you're only punting 1p spreadbets or you'd have run out of cash for Special Brew by now

I've been here a few years too: amazing how I love losing money. Need the giro to come through soon so I can back a few more losers.
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Old Nov 20, 2007, 12:20pm   #4
 
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Quote:
Originally Posted by MitchT View Post
I've been registered here for quite some time. I thought I'd learn something useful here but it seems to be little more than load of people talking about new systems they've invented, or bought, which they reckon they'll clean-up with, and other people who can program the charting software backtesting said systems only to conclude that they don't work or that they do, but suffer too much drawdown to be worth the effort.

I am yet to find a discussion here that doesn't appear to contain lot of dead horses and a lot of 'would-be' traders flogging said horses with near-mechanical determination. I'm deeply sceptical about the credability of forums like this for one simple reason. If I had methods capable of generating reliable returns I wouldn't be on an internet forum chatting about it, I'd be sat on a big yacht in the Bahamas, making millions on my laptop, and sipping Champagne while toned 18 yr old babes in bikinis rubbed oil into me... and each other.

The longer I try to make money trading the more deeply suspicious I become that actually, the only ones who do are those who are inside some special bubble where exists knowledge that will never be allowed out of said bubble, and those on the outisde will never be let in. There are people out there who make millions trading and they must have learned to do it somewhere, but where... and does anyone here actually make a living from trading... and if so, how?


Or one could enjoy a life in a small village near the mountains or the sea, living in peace and tranquility. Enjoying quality time spent with friends & family, having no financial worries. Learning new things each day, studying different cultures, languages, ideas, philosophies. Enjoying the exchange of views & thoughts with similar-minded trading individuals. Trying to live carbon-neutral. Immersing oneself in new hobbies, new environments. Away from the superficial life of superstars and exuberant riches who shine in front of the camera but whine behind it because the lack of privacy and personal happiness.

Once you discover that the rewards in trading or not only financially, perhaps then you'll find what you are looking for MitchT.
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Old Nov 20, 2007, 12:45pm   #5
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MitchT started this thread
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Originally Posted by firewalker99 View Post
Once you discover that the rewards in trading or not only financially, perhaps then you'll find what you are looking for MitchT.
My point is that I am yet to find, or find anyone who has found, any rewards in trading, let alone sufficient rewards as to fund one's chosen lifestyle, be that hugging trees on the side of a Swiss mountain or enjoying the company of naughty young women on a big boat. We all want things that cost money - my purpose isn't to stimulate discussion as to the credibility of one person's choices compared to another's, but to ascertain precisely how that money can be obtained by trading, and if, in fact, anyone on this forum has actually succeeded in doing so.
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Old Nov 20, 2007, 12:52pm   #6
 
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Quote:
Originally Posted by MitchT View Post
I've been registered here for quite some time. I thought I'd learn something useful here but it seems to be little more than load of people talking about new systems they've invented, or bought, which they reckon they'll clean-up with, and other people who can program the charting software backtesting said systems only to conclude that they don't work or that they do, but suffer too much drawdown to be worth the effort.

I am yet to find a discussion here that doesn't appear to contain lot of dead horses and a lot of 'would-be' traders flogging said horses with near-mechanical determination. I'm deeply sceptical about the credability of forums like this for one simple reason. If I had methods capable of generating reliable returns I wouldn't be on an internet forum chatting about it, I'd be sat on a big yacht in the Bahamas, making millions on my laptop, and sipping Champagne while toned 18 yr old babes in bikinis rubbed oil into me... and each other.

The longer I try to make money trading the more deeply suspicious I become that actually, the only ones who do are those who are inside some special bubble where exists knowledge that will never be allowed out of said bubble, and those on the outisde will never be let in. There are people out there who make millions trading and they must have learned to do it somewhere, but where... and does anyone here actually make a living from trading... and if so, how?
Any profession or trade in which you become qualified will take a number of years before you earn a decent return. Trading the markets is no exception.

If you are unsuccessful you need to examine your methods & approach etc and analyse - there is a wealth of information on this forum alone as well as numerous other sites. It's all free! There are also many good books (and some not so good) for guidance. If at the end of this you can't crack it then either you haven't found the right way of learning OR possibly you just aint gonna cut the mustard - in which case go find something that you are good at.

I agree with you that there are some discussions on here which are of dubious quality (but that's only my opinion) but I have learned an unbelievable amount by listening to other people's views about which initially I was sceptical. The one thing you will find on this forum is mega-help from other traders. Why do they do it and not just get on with making even more money? - well, I'm a believer that not all human nature is selfish and most of us are basically decent people. If you want evidence try reading Trader Dante on Beginners thread.

Perhaps you are expecting too much too soon - in a former professional existence my initial training took 3 years and I wasn't considered to be really proficient until a couple of years after that. Look at Doctors / lawyers etc etc - it all takes years and lots of work and this assumes you have the aptitude in the first place.

On a personal level i have found that the first thing to examine in any walk of life when things don't go the way I'd like, is myself. As to the markets, my greatest sense of satisfaction comes from trading successfully and not the actual amount of money made (though it's a useful by-product).

Don't give up! (yet)
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Old Nov 20, 2007, 1:01pm   #7
 
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Quote:
Originally Posted by MitchT View Post
My point is that I am yet to find, or find anyone who has found, any rewards in trading, let alone sufficient rewards as to fund one's chosen lifestyle, be that hugging trees on the side of a Swiss mountain or enjoying the company of naughty young women on a big boat. We all want things that cost money - my purpose isn't to stimulate discussion as to the credibility of one person's choices compared to another's, but to ascertain precisely how that money can be obtained by trading, and if, in fact, anyone on this forum has actually succeeded in doing so.
If you don't know where to start, use the search function.

The information digged in this site is worth gold imho. Just for the sake of an example, there's even a thread shown on the main page where somebody explains his complete strategy. Then there's another thread, mentioned by 0007. But these are just recent examples. There's much more if you are willing to look.
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Old Nov 20, 2007, 1:03pm   #8
Joined Jun 2006
Am not making much money, but I am making 'less' losses compared to when i started in 2005. So I must be doing something right!!
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