Trojen
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:clap:
yes,yes, yes......Mr Kruger speak de truth
Discipline and money management on top of a "viable system" turns into CASH
:clap:
yes,yes, yes......Mr Kruger speak de truth
Discipline and money management on top of a "viable system" turns into CASH
FXSCALPER2
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Of cousre the number of screens you got has nothing to do with it. As to whether it is possible to make a living trading, it is possible to make a ridiculous amount of money but hardly anyone can do it. Generally, when someone asks whether they can trade for a living, my answer is 'no' and that is the safest bet there is.
DaxDestroyer
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shadowninja
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I believe everyone can. The only thing that will stop them is their discipline and whether they can learn to overcome themselves before they run out of money.
Of course, if you're placing bets on someone actually becoming a successful trader, that's different. I'm just talking about potentials.
FXSCALPER2
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Your claim is not falsifiable in a strictly logical sense. In order to disprove it, we will have to keep on testing until no one is left to try. So yes you can say 'potantially anyone can do it', but I think that is not a meaningful statement in reality. In reality, very few people can do it.
I trade full time and it is my only source of income.
I could not trade from home - I tried it about 6 years ago for 6 months and was bored to tears.
But what you require is down to your personaility etc.
As for screens it again depends. I currently use 7 and could not use any less.
Feel free to PM me if you want any more info etc.
I could not trade from home - I tried it about 6 years ago for 6 months and was bored to tears.
But what you require is down to your personaility etc.
As for screens it again depends. I currently use 7 and could not use any less.
Feel free to PM me if you want any more info etc.
Maxxtrader34
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Trading for a living is possible.
I would suggest that you use the following structure as a guide:
1. Decide what type of trader you would like to become:
a. Day trader or scalper (trade instruments for a few hours a day. Usually, two to six hours).
b. Swing Trader (trade/hold instruments for a few days. Usually, three days to a week).
c. Positions Trader (trade/hold instruments for weeks to months. Usually from a couple of weeks
to a year).
2. Knowlegde is important. However, the key to success in the Forex Markets is Discipline!
a. Yes, it is important that you understand your indicators, charting, etc. It's actually essential.
Nevertheless, structured behavior (discipline) is the HOW YOU WILL ACCOMPLISH YOUR
GOALS.
b. You need to assess your emotional state and set up a realistic trading plan. More importantly,
the trading plan must be followed rigurously.
3. Your trading must be unemotional as possible.
a. Greed- You made some money...now, you want to make some more (stay away from this trap
and stick to the plan).
b. Fear- Selling or covering your positions prematurely will cut your bottom line (reduce profits).
Bottom line: Know when to get in and know when to get out (that's when knowledge comes in).
4. Prepare yourself
a. Review charts for a while before entering a trade.
5. Other stuff
a. You must sleep well. Don't trade while you are tired.
b. Don't enter a trade if you are not sure of it.
c. Constantly update your charts as time goes (look for new patterns forming by price action, like,
triangles, wedges, etc).
d. Believe in yourself.
e. Be patient. Profits do come in; as long as, you do what you are supposed to do!
f. Take time off from trading as often as possible (vacation), and avoid over trading. With the
right system, you can make a living only with few trades a day (1-5). Trading can drain you!
g. Find a trading partner, so you are not so alone since trading is usually a lonely task.
You will have to do more research on these points in order to get a clearer picture of what you need to do in order to accomplish your goals. Nevertheless, keep in mind that the key for success is Discipline!
I would suggest that you use the following structure as a guide:
1. Decide what type of trader you would like to become:
a. Day trader or scalper (trade instruments for a few hours a day. Usually, two to six hours).
b. Swing Trader (trade/hold instruments for a few days. Usually, three days to a week).
c. Positions Trader (trade/hold instruments for weeks to months. Usually from a couple of weeks
to a year).
2. Knowlegde is important. However, the key to success in the Forex Markets is Discipline!
a. Yes, it is important that you understand your indicators, charting, etc. It's actually essential.
Nevertheless, structured behavior (discipline) is the HOW YOU WILL ACCOMPLISH YOUR
GOALS.
b. You need to assess your emotional state and set up a realistic trading plan. More importantly,
the trading plan must be followed rigurously.
3. Your trading must be unemotional as possible.
a. Greed- You made some money...now, you want to make some more (stay away from this trap
and stick to the plan).
b. Fear- Selling or covering your positions prematurely will cut your bottom line (reduce profits).
Bottom line: Know when to get in and know when to get out (that's when knowledge comes in).
4. Prepare yourself
a. Review charts for a while before entering a trade.
5. Other stuff
a. You must sleep well. Don't trade while you are tired.
b. Don't enter a trade if you are not sure of it.
c. Constantly update your charts as time goes (look for new patterns forming by price action, like,
triangles, wedges, etc).
d. Believe in yourself.
e. Be patient. Profits do come in; as long as, you do what you are supposed to do!
f. Take time off from trading as often as possible (vacation), and avoid over trading. With the
right system, you can make a living only with few trades a day (1-5). Trading can drain you!
g. Find a trading partner, so you are not so alone since trading is usually a lonely task.
You will have to do more research on these points in order to get a clearer picture of what you need to do in order to accomplish your goals. Nevertheless, keep in mind that the key for success is Discipline!
Mathemagician
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Correct me if I'm wrong, but isn't suggesting how many screens the OP should use kind of putting the cart before the horse? It's a lot like someone telling you they want to start a professional racing team and you telling them how many tires they need to bring to each race. We don't know if he's planning on drag racing, F1, endurance, or rally (does he even know?), so our answers are meaningless.
jj
jj
Windowsill
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Mathemagician
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Well, yeah, we all know he needs "some" screens. The question at hand is 'how many?'! How many nails you need depends on the specifics of the house you're building.I don't know how to build a house but I'm pretty sure I'll need a hammer, some nails, a saw...etc.
jj
hello friend...trading for living is not
hello dear friends
The View expressed here are all personal and no copycat job is here.
I do not think you need to worry much about your IT infrastructure multiplicy.One pc and a laptop with independent internet ia more than enough.
I am in trading field since three years and lost near about 1,50000 US $ initially in just six months.
I toiled hard and fast to take out money back and today I can say that profitable trading is more of a personal journey and ofcourse a continuos education and rectification process.
You have to keep in mind that markets and trades changes over a period of time , so be prepared to adapt at a rate faster than change itself.
Second trading for living is not an impossibility but to make it possible you have to find your own ways and setups . no coaching ,books or subscriptions or advices anything you try but yourself .So the answer lies in you only.
Third what is your financial background and your backup in case of emergencies,that you have to look into.If you do not have a solid financial background then first make it strong to receive serious financial blows initially so that you can take your time towards traidng for living.
Last I strongly believe 'TRADING FOR LIVING IS POSSIBLE'
hello dear friends
The View expressed here are all personal and no copycat job is here.
I do not think you need to worry much about your IT infrastructure multiplicy.One pc and a laptop with independent internet ia more than enough.
I am in trading field since three years and lost near about 1,50000 US $ initially in just six months.
I toiled hard and fast to take out money back and today I can say that profitable trading is more of a personal journey and ofcourse a continuos education and rectification process.
You have to keep in mind that markets and trades changes over a period of time , so be prepared to adapt at a rate faster than change itself.
Second trading for living is not an impossibility but to make it possible you have to find your own ways and setups . no coaching ,books or subscriptions or advices anything you try but yourself .So the answer lies in you only.
Third what is your financial background and your backup in case of emergencies,that you have to look into.If you do not have a solid financial background then first make it strong to receive serious financial blows initially so that you can take your time towards traidng for living.
Last I strongly believe 'TRADING FOR LIVING IS POSSIBLE'
rathcoole_exile
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Nick,
you mean you're doing the part-time pole dancing just for the love of it ??? Are they paying you at all, not even in Mai Tai cocktails ?
Garry
rathcoole_exile
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many beaches in Arizona then ? :cheesy:
rathcoole_exile
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He did ask!
He can then work out on average he will need 1.3 screens
I'm long with a Stop Buy at 1.44
theroguetrader
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Hi there,
I just wanted to ask, you say you lost $1,50000 ? - where is the decimal point in there? because if its where i " hope" its not (gulps) and it actually was - well i gotta say your sense of optimism is AWSOME.. !!
Keep going buddy - you WILL get there - WITHOUT A DOUBT... !!
nkruger
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Nick,
you mean you're doing the part-time pole dancing just for the love of it ??? Are they paying you at all, not even in Mai Tai cocktails ?
Garry
Hiya Garry ~ as you know, I've now given that up now, leaving it to the younger members of our esteemed community.....
I do think that somewhere/sometime I've kissed the blarney stone, given the luck bestowed on me ~ right next to my local (for the last 8 yrs) they open a dancing club of the 'lap' variety 2years ago. Oh and BTW, I never wear a 'Tai' when I'm there, you never know where it'll end up......
nkruger
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Good post mate ~ newbies take note :clap:
(just tried to add to your reps for that, but the gestapo, they say 'no')
Thanks again all for the replies!!
Discipline is something I do believe I have, just what I am being disciplined to isn’t all that great, but who knows. If it comes to pulling a trade, for example, do you take the approach "premature exit is not following the system rules - naughty boy!" or do you take the belief "premature exit based on some analysis is a good thing, the system doesn’t know what you do - good boy!" Which belief does one take? What is discipline therefore?
Do you all think that a good trading system comes from using indicators and entry/exit rules set in stone or indicators and going in and out based on gut feelings? What is everyone’s belief on these grey box systems? I know for a fact that is what all the big players use nowadays.
I believe I have what it takes to be a trader (I feel it is in the blood) just finding a system to trade that is reliable is the sticking point. I know no system is perfect!
Cheers
Bob
Discipline is something I do believe I have, just what I am being disciplined to isn’t all that great, but who knows. If it comes to pulling a trade, for example, do you take the approach "premature exit is not following the system rules - naughty boy!" or do you take the belief "premature exit based on some analysis is a good thing, the system doesn’t know what you do - good boy!" Which belief does one take? What is discipline therefore?
Do you all think that a good trading system comes from using indicators and entry/exit rules set in stone or indicators and going in and out based on gut feelings? What is everyone’s belief on these grey box systems? I know for a fact that is what all the big players use nowadays.
I believe I have what it takes to be a trader (I feel it is in the blood) just finding a system to trade that is reliable is the sticking point. I know no system is perfect!
Cheers
Bob
