Feeling very depressed and disheartened! Can you actually make a living trading?!!

[ceydababy]

LOL

Why dont people actually read what my post says, not just guess what imay have ritten and then try to mock me??


I dont expect to be rich now!! i dont expect to have even any money at the moment! :cheesy:


I said...
Can people eventually make a real secure living for themself and their family just by starting to be a self employed trader as a student??

Not mocking you mate but YOUR OWN WORDS....

Aloha people, i dont know why, but i am just feeling very very depressed and disallusioned about how much of a real life career trading can actually be.

I gave up going into a career in the police to become a trader fulltime, but now ive been trading (demoing now) for over 1month i just dont feel that the small little guy can actually make a secure stable living off just being a self-employed spreadbetter trader!


Gives the distinct impression that you were EXPECTING to be making $$$$. Reality is after 1 month even 1 year the odds are STACKED against you making cash. Your first aim should be stop the rot and DON'T LOSE

 

[new_trader]

Um i cant remember exactly, about £50 profit i think in 1st week.

You're not selling trading systems on Ebay are you?

 

[spanish89]

You don't need to be rich, but you need money to burn if you want to learn how to trade

Finally a straightforward easy to read answer..


Ive decided im going to try getting into a trading firm..

 

[spanish89]

You're not selling trading systems on Ebay are you?

LOL

No, sell Armani and Gucci products, as well as now expanding to latest electronics such as ds lites and psps (£60profit+ each sale). :cheesy:

Im gna see if there is any demand for trading systems though.


Im also actually selling 'Nothing' on ebay!! :cheesy::cheesy:

 

[mp6140]

Mp ---- I Believe My Chain Is Being Pulled !

WELL, I CERTAINLY HOPE ITS MY CHAIN !

This lament has been going on for 5 pages at this point, and ANYONE would have gotten the message by now --- Im afraid were being played with and there is NO END to the give and take in view ---------

consider me gone from wasted verbiage --- this isnt a situation that wants assistance, or it already would have been asked for --- this, like taking his own picture with his phone, is to see his own words, because those words havent changed from page one !

have fun with him peoples, but Im outta here --- the vanity is too much for me !

mp

 

[ceydababy]

LOL

No, sell Armani and Gucci products, as well as now expanding to latest electronics such as ds lites and psps (£60profit+ each sale). :cheesy:

Im gna see if there is any demand for trading systems though.


Im also actually selling 'Nothing' on ebay!! :cheesy::cheesy:

Only selling 4 items a week on EBAY ??

I would stick to increasing your ebay sales mate.....

 

[spanish89]

Only selling 4 items a week on EBAY ??

I would stick to increasing your ebay sales mate.....

4 items??

I sell between 2 - 10 items per week, but each sale is between £30 profit - £100!! :cheesy:

 

[Bagehot]

Finally a straightforward easy to read answer..


Ive decided im going to try getting into a trading firm..

Spanish - UK police training takes two years to qualify as a basic constable. What makes you think you could master a different profession (trading) in one month using a demo account? Simply put, it will take time and patience (as well as ability) - if you're already disheartened and depressed it probably isn't the career for you.

 

[shadowninja]

So you were making money in the first week you started trading on ebay? Maybe that is a poor example because ebay business models are different.

Expect in the real world to reach breakeven when running a small business in the first 2-3 years, basically.

 

[theroguetrader]

Finally a straightforward easy to read answer..


Ive decided im going to try getting into a trading firm..

" Finally a straightforward easy to read answer " - dont ya think the 8 HUNDRED odd quid youve given to the market is your " practice money " already ????? :-0

If you keep " playing at this ", NOT CONCENTRATING PROPERLY and using ebay as a fall back, youll NEVER learn the skills required..... !!

STOP day trading and TRYING to pull off a " few " pips/points here and there... !!

CONCENTRATE AND FOCUS on a ONE DAY CHART - WHAT DO YOU SEE ..??? WHAT DO YOU REALLY SEE....????????? :!::!::!::!:

 

[spanish89]

" Finally a straightforward easy to read answer " - dont ya think the 8 HUNDRED odd quid youve given to the market is your " practice money " already ????? :-0

If you keep " playing at this ", NOT CONCENTRATING PROPERLY and using ebay as a fall back, youll NEVER learn the skills required..... !!

STOP day trading and TRYING to pull off a " few " pips/points here and there... !!

CONCENTRATE AND FOCUS on a ONE DAY CHART - WHAT DO YOU SEE ..??? WHAT DO YOU REALLY SEE....????????? :!::!::!::!:

I am using 1 day charts mate...

Check my trading journal.

Last week i made almost 800pips by holidng for 1-2days on oil, gold, and aud/usd.

 

[dbphoenix]

Spanish, you still don't get it. Until you have a well-thought-out and well-executed trading plan, it won't make any difference how much money you have; you will lose it all. If, as you insist, you have a well-thought-out and well-executed trading plan, then you'd be making money right now.

 

[spanish89]

Spanish, you still don't get it. Until you have a well-thought-out and well-executed trading plan, it won't make any difference how much money you have; you will lose it all. If, as you insist, you have a well-thought-out and well-executed trading plan, then you'd be making money right now.

Um ok i feel that you and me have different definitionsof what a trading plan is...

(Im not being rude or sarcastic mate, i know that my idea of one is a stratergy not a plan)


But so could you post exactly what your trading plan is, so then il have an example of what you actually mean by trading plan.


Thanks

 

[tune]

lol

 

[theroguetrader]

I am using 1 day charts mate...

Check my trading journal.

Last week i made almost 800pips by holidng for 1-2days on oil, gold, and aud/usd.

If you were using a ONE DAY CHART - you would have gone LONG on gold on the 4th SEPTEMBER 07 at about $673 and sold on 16th MARCH 08 on the close at $1,015 -

you could have used a 10 point stop there (at THAT POINT gold wasnt going ANYWHERE but to PLUTO)- risked 500 of that 800 youve blown by " DAY TRADING " -

STEP BACK FROM THE CHARTS - CONCENTRATE - WHAT DO YOU SEE....???? :!:

342 x 50 quid = 17,100.00 (GBP) - what is it that you (and MOST PEOPLE) FAIL TO SEE...???? :!::!:


DONT trade Crude Oil when starting off !!- like learning to fly in a SPACE SHUTTLE.... !! :!:

 

[dbphoenix]

Um ok i feel that you and me have different definitionsof what a trading plan is...

(Im not being rude or sarcastic mate, i know that my idea of one is a stratergy not a plan)


Thanks

What you call it is irrelevant. My point is that if your strategy/plan were a good one and you implemented it properly, you'd be making money. You're not making money. Therefore.....

 

[dbphoenix]

lol

Shut up, tune

 

[tune]

now that is good advice.

 

[LondonUSTrader]

Aloha people, i dont know why, but i am just feeling very very depressed and disallusioned about how much of a real life career trading can actually be.

I gave up going into a career in the police to become a trader fulltime, but now ive been trading (demoing now) for over 1month i just dont feel that the small little guy can actually make a secure stable living off just being a self-employed spreadbetter trader!


I made almost 600pips last week using my demo account, however i know that if it was my real money i wouldn't have taken those risks of holding for so long, even though i had actually used S&R lines, trend.. ect so was actually using a real method not jut gambling and guessing.

And even if i wanted to i simply wouldn't be able to risk a hundred quid+ on 1 trade!!


At the moment i feel you can only actually make a living of trading if you already have a few thousand pound just sitting around spare...,
but until you are already 'rich' you cant become a trader.

A few thoughts:

(1) Stop trading immediately and fooling yourself that this is a possible dream in the short run. Becoming a full-time trader usually takes many many years.

(2) Save up until you have AT LEAST £5,000 to trade with that you can afford to lose without blinking an eyelid. Your total savings should be double this amount.

(3) Forget entries and exits. First off, you need to understand market structure and once you understand that you need to then think about the wood as opposed to the trees.

(4) Develop an edge and backtest it on historical data based on a sample size of at least 100 trades, preferably more.

(5) Next stage is does this strategy hold up on a real time simulated basis.

(6) From this research you will be able to develop a trading plan, remember to include risk management.

(7) Prove that you can trade by doubling your account before going full time. Also, have money you can live off for at least a year so you are not under pressure to make money which will affect your decision making process.

(8) Consider whether full-time trading is the right thing. In the UK you pay much higher taxes working full time than part time. Also, trading once you are successful and know what you are doing can be a bit boring. You are just executing a plan, that's it. Nothing exciting really. Moreover, you can trade almost as much part-time as full time. For example, you can even daytrade the US afternoon session, while still having a job. Trading full-time is also a big risk on your CV.

 

[theroguetrader]

One Day Charts

Um ok i feel that you and me have different definitionsof what a trading plan is...

(Im not being rude or sarcastic mate, i know that my idea of one is a stratergy not a plan)


But so could you post exactly what your trading plan is, so then il have an example of what you actually mean by trading plan.


Thanks

" TRADING PLAN " = MECHANICAL ENTRY AND EXIT RULE....... !!

NO guesswork
NO " winging it "
NO EMOTIONS............ !!