Who actually makes a decent living out of trading...!?

[pboyles]

Ok guys.... Im sorry to say this but i`ve just transferred my winning profits over to bank as im not convinced on this (plus a combination of reading alot on these forums - and a few losing trades but overall up by quite a bit) Its incredible how people are under the impression with statistics pulled out of the air about being able to maintain a consistant profit...

"theres nowhere near 250k active posters here, thats everyone whos ever joined. 5% of say 1000 = 50 people, more likely 5% of 500 semi-regular posters = 25 people" Lol? Where on earth did you pull this statistic from? Incredible.

Dont get me wrong i`d love to hear from peoples experience of making a good living. Again please dont take me as an antagonistic person because thats not my intentions i just feel this thread SO FAR (as i havent given it a chance as of yet) is people posting based on wishful and hopeful thinking that there are quite a few on here who actually make a good living from it...

Need to re-think things through as im not arrogant nor proud enough to allow my wins to turn into me blowing my account like everyone else seems to do when they first start (ive been trading over 18 months)

Look forward to hearing your response... please stay on topic if you wouldnt mind (not cherry pick points out of my quotes - whether you agree or disagree)

Nobody knows how many people are profitable here, how could they, even if they did a survey people could claim whatever they wanted. As regards the number of active users on the site that is information that could probably be extracted reliably, however that doesn't tell you much. The member count is every person that ever joined, even if they only visited the site once in 2004 or something.

 

[D.Gilberto]

Yea i understand that pboyles... But is it not a bit discomforting that there is little to no 1 (maybe a tiny handful) who make consistent gains everyday... Everyone else is digging deep into there pockets and handing over to those SB firms and other big institutional traders... its seriously far-fetched and rediculous that people come on these forums looking for an alternative source of income through the markets within 1-2 or even 10 years for some!

Dont get me wrong i have a serious passion for the markets and the economy and find it fascinating. Just sad thats all.

 

[Pazienza]

Ok guys.... Im sorry to say this but i`ve just transferred my winning profits over to bank as im not convinced on this (plus a combination of reading alot on these forums - and a few losing trades but overall up by quite a bit) Its incredible how people are under the impression with statistics pulled out of the air about being able to maintain a consistant profit...

"theres nowhere near 250k active posters here, thats everyone whos ever joined. 5% of say 1000 = 50 people, more likely 5% of 500 semi-regular posters = 25 people" Lol? Where on earth did you pull this statistic from? Incredible.

Dont get me wrong i`d love to hear from peoples experience of making a good living. Again please dont take me as an antagonistic person because thats not my intentions i just feel this thread SO FAR (as i havent given it a chance as of yet) is people posting based on wishful and hopeful thinking that there are quite a few on here who actually make a good living from it...

Need to re-think things through as im not arrogant nor proud enough to allow my wins to turn into me blowing my account like everyone else seems to do when they first start (ive been trading over 18 months)

Look forward to hearing your response... please stay on topic if you wouldnt mind (not cherry pick points out of my quotes - whether you agree or disagree)

Hi Dom,

From reading some of your posts I think you have done the right thing in taking money out of your trading account and putting it in your bank. I don't think this endeavour is the right thing for you.

Good luck with whatever it is you decide to do instead.

 

[D.Gilberto]

Good luck trying to make money Pazienza.

 

[pboyles]

its seriously far-fetched and rediculous that people come on these forums looking for an alternative source of income through the markets within 1-2 or even 10 years for some!
.

To be honest most people that come here think they can make an income after a two day training course or after buying a forex robot for $99. Very few think it will take years though most of us have learned the hard way that it takes at least that long and even then success is far from guaranteed.

 

[Pazienza]

Good luck trying to make money Pazienza.

There's no luck involved, just the ability to keep doing what works.

Again, that post just reinforces the impression that you've made the right decision.

 

[D.Gilberto]

"To be honest most people that come here think they can make an income after a two day training course or after buying a forex robot for $99. Very few think it will take years though most of us have learned the hard way that it takes at least that long and even then success is far from guaranteed."

Lol you might aswell get your cheque book out and write them your bank balance. Have fun.

 

[BeginnerJoe]

There's no luck involved, just the ability to keep doing what works.

Again, that post just reinforces the impression that you've made the right decision.

Let's not gloat. You admit to 'make a living' from it' only from this year. What of all the previous years, and your numerous rape stories ? Everyone gets lucky some times. The OP is wise to quit while he's up. Although I suspect he will fail and plunge back in at another time. The lure of free money to be scooped up just like that will take more than nerves of steel to resist.

 

[Pazienza]

Let's not gloat. You admit to 'make a living' from it' only from this year. What of all the previous years, and your numerous rape stories ? Everyone gets lucky some times. The OP is wise to quit while he's up. Although I suspect he will fail and plunge back in at another time. The lure of free money to be scooped up just like that will take more than nerves of steel to resist.

I've only tried to make a living from it this year, after a significant period of back-testing, forward-testing, and live trading on a relatively modest scale.

 

[the hare]

Everyone gets lucky some times..

This is true, and its what makes the whole shinnagins so difficult (even though it is extremely easy when you know how)

 

[BeginnerJoe]

I've only tried to make a living from it this year, after a significant period of back-testing, forward-testing, and live trading on a relatively modest scale.

No. Rape stories don't just appear out of thin air. Going by your fear of it aka 'discipline', I estimate you had a few rough years.

Still, you shouldn't count yourself a success until you can make a living from it for 5 straight years at least when you have experienced all type of markets and survive them. As for your backwards and forwards testing, these don't mean much as the market reactions to your trades cannot be tested.

 

[Pazienza]

No. Rape stories don't just appear out of thin air. Going by your fear of it, I estimate you had a few rough years.

Still, you shouldn't count yourself a success until you can make a living from it for 5 straight years at least when you have experienced all type of markets. As for your backwards and forwards testing, these don't mean much as the market reactions to your trades cannot be tested.

 

[redart]

Pazza's loaded. He's a baller.
Do we reverse up here at 1236 ES, paz? Im bored of flashing red

 

[Pazienza]

Pazza's loaded. He's a baller.
Do we reverse up here at 1236 ES, paz? Im bored of flashing red

Let's hope not. I'm short TF at the moment.

I was expecting a smallish move, but a bit harder and deeper than we got, so I'm thinking of bailing.

 

[BeginnerJoe]

It's telling that there are more people who claim others are doing well than people claiming to do well themselves. The stereotypical successful trader is supposed to be egotistical and unashamed of his winnings. So things are not adding up.

 

[Doomberg]

It's telling that there are more people who claim others are doing well than people claiming to do well themselves. The stereotypical successful trader is supposed to be egotistical and unashamed of his winnings. So things are not adding up.

There are big players on this website i know of a Futures trader who got +400 on tuesday and usually gets +100 or more

And before someone says "yeah but what was his stake size" with futures on the market he trades its a minimum of €25 a point

The 'big players' are here but they won't shout about it.

 

[D.Gilberto]

What ive started to realize is if this is a hobby or an interest to people (being markets and economy) then great... Also if you have a **** load of cash then great too. But if your on believing that your the new millionaire trader, or you have what it takes then think again. Your only going to start off with a few good trades make some money and then give it all back on top of your own money 10 fold over.

Trading is exciting fast paced and rewarding at times and ive enjoyed it and enjoy studying economics - charting etc. But lets not be fooled into this by no means as this is a fools game believing you can make consistant returns.... Because the one question is... "how much is enough" if you made a million would you stop.... And the answer is no... Have you got a trading strategy that works... maybe... but for how long.

People are extremely naive but i am happy for those who are making it and nervous for those who believe they can who have been doing it for years.

And Pazienza you do make me laugh with what i feel to be patronising comments toward my decision of no proceeding with it for the time being. Dont be fooled in thinking im not cut out, because my edge which makes me far more superior to yours is i accept the probabilities and do not base my future back pocket on lustful thinking you believe to create a source of income off...

Good game for the SB co. and big traders...

 

[pboyles]

There are big players on this website i know of a Futures trader who got +400 on tuesday and usually gets +100 or more

And before someone says "yeah but what was his stake size" with futures on the market he trades its a minimum of €25 a point

The 'big players' are here but they won't shout about it.

He made 400 euros or 400 points?

 

[Pazienza]

It is not intended to be patronising. I am just stating an obvious truth which is that your comments reveal that you are unlikely to succeed.

Your comment about your edge making you superior is another example to be honest.

What ive started to realize is if this is a hobby or an interest to people (being markets and economy) then great... Also if you have a **** load of cash then great too. But if your on believing that your the new millionaire trader, or you have what it takes then think again. Your only going to start off with a few good trades make some money and then give it all back on top of your own money 10 fold over.

Trading is exciting fast paced and rewarding at times and ive enjoyed it and enjoy studying economics - charting etc. But lets not be fooled into this by no means as this is a fools game believing you can make consistant returns.... Because the one question is... "how much is enough" if you made a million would you stop.... And the answer is no... Have you got a trading strategy that works... maybe... but for how long.

People are extremely naive but i am happy for those who are making it and nervous for those who believe they can who have been doing it for years.

And Pazienza you do make me laugh with what i feel to be patronising comments toward my decision of no proceeding with it for the time being. Dont be fooled in thinking im not cut out, because my edge which makes me far more superior to yours is i accept the probabilities and do not base my future back pocket on lustful thinking you believe to create a source of income off...

Good game for the SB co. and big traders...

 

[Doomberg]

@pboyles

Obviously 400 points, €400 doesn't make someone a big player and i did day about the futures being "minimum of €25 a point"

Although i just remembered that 163 of them 400 points were from EUR/USD but still, thats a lot of money