Recent content by damianoakley

WOW - I just logged in out of pure curiousity to see if there had been any replies to my announcement.....and I find 4 pages worth! I really didn't think people would be that bothered, but it seems to have generated a bit of a debate. Having been a member of this board for a number of years...

Hi All, As many of you will know, I have been a member of this board for a number of years whilst operating as a full-time trader and trading coach. I do hope that during that time the users of T2W have found my contributions useful and informative. After trading for 7 years and coaching for...

Hi TWI, I think that's very true. There are probably tons of black-box entry systems that make money if they are operated correctly with good money-management and sound exit principles. The difficulty comes when the system hits a bad run of results, which every system goes through at some...

Hi Pugwash, I would say that there are literally hundreds of trading systems out there that work and will make you money. Finding a trading system that works is not the issue.....finding a trading system that suits your personality and then having the discipline to stick with it are the two...

Hi Grant, .....and I think that's the reason why most people feel unable to take the plunge and begin a business of any description, let alone trading. Society tends to put us all onto the same conveyor-belt of life from the day we are born: we get an education, we get a job, we purchase...

Hi Firewalker, I think most people see a full-time job as the safest and most secure way of generating an income. They see things like trading or starting a business as risky and insecure. Personally, I see it from another angle. I think that if your only income is dependent upon an employer...

Hi Qwerty, Wow - I've come back to this thread after 8 hours, and 5 more pages of posts have appeared! From your post re-quoted above (from about 4 pages ago!) your understanding seems correct. The opportunity factor can have a significant bearing on results in trading. Both long-term and...

Hi New_Trader, Interesting questions, especially for someone like me who does get involved in the coaching side of things as well as trading itself. 1) From my experience, I would say that trading CAN be taught, but what can't be controlled is maintaining the student's desire to continue with...

LOL - I agree, there's only so much you can do as regards tax. But, a wise man once told me: "If you're paying the taxes, then you're earning the money...." At least by running a self-employed trading business, you have more control over your tax than the average PAYE employee..... Damian

Hi Tim, Good to hear from you, I'm well thanks. I started to make the transition from Stocks to Options about 2 years ago, and it shouldn't be too long now before I'm trading and coaching exclusively in U.S. Stock Options after a great deal of work and testing. I could have gone full-time...

Hi Chump, Well, a good accountant will minimise the tax implications on any business venture, but I prefer to trade somewhere between the 2 extremes described above. Damian

Hi Grant, I agree......sadly, we are all judged by the house we live in, the car we drive, and the money we earn. Damian

Hi Qwerty, It depends on the system being used, but in the main, trading on a shorter time-frame gives you more opportunity and more trades, which is why many people try to day-trade for income. For example, if someone is a successful day-trader using a market-maker strategy trading...

Hi Paul, Only just read this thread......for me your trading is spot on and if you've met your target for the day, then you shouldn't feel any guilt or a need to "stick at it." You've done 3 and a half hours work....why continue on needlessly just to fill some time? Isn't that the reason why...

Hi, I would have to agree with The Bramble and say that forward testing is vital, but you should only be forward testing if your backtesting has proved profitable and you think that you can mentally deal with the backtested drawdowns in real life. The thing with backtesting, is that it is only...