Sounds ooh so easy....the hardest bit to crack is the last part....Good luck
Feeling very depressed and disheartened! Can you actually make a living trading?!!
Sounds ooh so easy....the hardest bit to crack is the last part....Good luck
theroguetrader
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emotions
Some people find the last part easy to crack - some dont, its all down to personality -
Why do traders let loosing trades RUN and RUN hoping the market will turn round ?
why dont traders let profits run ? (FEAR of the market taking it back) -
why do investors have directional bias - ALWAYS wanting to be long all the time - and when the markets tank, they all get crunched and wonder why..??
why dont traders STICK TO A TRADING PLAN - instead of 2nd guessing ?
why cant traders take a SMALL LOSS - they stick with a loosing trade until its BIG - then take the loss and it hurts like F..K..??
if people have trouble keeping their emotions in check and have trouble learning some SELF discipline
- Theyre maybe better off looking somewhere else for profits dont ya think..?? because as im sure you know,the market is a very expensive place to learn... !!
Some people find the last part easy to crack - some dont, its all down to personality -
Why do traders let loosing trades RUN and RUN hoping the market will turn round ?
why dont traders let profits run ? (FEAR of the market taking it back) -
why do investors have directional bias - ALWAYS wanting to be long all the time - and when the markets tank, they all get crunched and wonder why..??
why dont traders STICK TO A TRADING PLAN - instead of 2nd guessing ?
why cant traders take a SMALL LOSS - they stick with a loosing trade until its BIG - then take the loss and it hurts like F..K..??
if people have trouble keeping their emotions in check and have trouble learning some SELF discipline
- Theyre maybe better off looking somewhere else for profits dont ya think..?? because as im sure you know,the market is a very expensive place to learn... !!
Spanish 89 - Your question is honest, but the very question itself reveals your naivete. Of course individuals can make a career trading and become very successful at it. People have been doing so since markets began. The problem is that the markets do not tolerate mediocrity, inexperience, and unpreparedness very well. Trading is serious business. You should read some of Livermore's comments about it. He made the wise observation that in no other learned field would one expect to be able to be a success after only a few weeks or months of experience.
Your question is no different that saying is it possible to become a successful medical doctor, a lawyer, an engineer, etc. after only a few months work at it. Have you ever read any books titled "How to practice orthopedic surgery in your spare time?" Learning to trade well takes time, dedication, practice, experience, emotional control, knowledge, etc. That isn't acquired in only a few months for most people. There are very, very few prodigy traders. I've been at it 7 years and am only now starting to become consistently profitable. Of course, I wasted a number of years chasing Gann down various rabbit holes until I realized that was a complete waste of time.
If you want to become a successful career trader, you better be prepared to pay alot of dues and spend a large amount of time learning how to do it - and even then there is no guarantee you will be a success. If you don't do that, however, you can be guaranteed that you will be a failure at it. You are going to have to earn a reasonable income while you are paying those dues - which means being in a field that is not trading related that pays a wage or being in a field that is trading related that pays a wage; ie, being employed. If you really want to make it, then IMHO the primary quality you need is persistence - bull headed, determined, refusal to surrender persistence.
Your question is no different that saying is it possible to become a successful medical doctor, a lawyer, an engineer, etc. after only a few months work at it. Have you ever read any books titled "How to practice orthopedic surgery in your spare time?" Learning to trade well takes time, dedication, practice, experience, emotional control, knowledge, etc. That isn't acquired in only a few months for most people. There are very, very few prodigy traders. I've been at it 7 years and am only now starting to become consistently profitable. Of course, I wasted a number of years chasing Gann down various rabbit holes until I realized that was a complete waste of time.
If you want to become a successful career trader, you better be prepared to pay alot of dues and spend a large amount of time learning how to do it - and even then there is no guarantee you will be a success. If you don't do that, however, you can be guaranteed that you will be a failure at it. You are going to have to earn a reasonable income while you are paying those dues - which means being in a field that is not trading related that pays a wage or being in a field that is trading related that pays a wage; ie, being employed. If you really want to make it, then IMHO the primary quality you need is persistence - bull headed, determined, refusal to surrender persistence.
Chorlton
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Spanish,
Have you considered trying to "hard-code" your trading rules ie, Develop a mechanical System from them?
From my own experience, when you sit down and try to do this, you'll realise very quickly whether or not your "trading plan" is sufficiently complete. Whether or not, you decide to actually trade in this manner is another thing, as I understand that a lot of traders prefer to use a discretionary element.
Just a thought....
fiance
Dude, I'd suggest dumping your fiance. She is a financial drain (or will be) and is holding you back from doing what you enjoy. Also you are only a kid ffs what do you want all the commitment for? Join the police? you're probably too young to be accepted at the moment, earn some money then learn to trade. You can't win without losing.
good luck
igs
Dude, I'd suggest dumping your fiance. She is a financial drain (or will be) and is holding you back from doing what you enjoy. Also you are only a kid ffs what do you want all the commitment for? Join the police? you're probably too young to be accepted at the moment, earn some money then learn to trade. You can't win without losing.
good luck
igs
books
I know of some really good books to read if your interested, and have some good stratergies to share
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.
I know of some really good books to read if your interested, and have some good stratergies to share
rathcoole_exile
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forex2009,
this is an old thread.
you're obviously unaware that spanish89 died recently in a homosexual auto-gagging suffocation accident
this is an old thread.
you're obviously unaware that spanish89 died recently in a homosexual auto-gagging suffocation accident
tsai/is/buying!
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A Suggestion
I suggest that you read some books in which traders are interviewed concerning their techniques, triumphs and failures.
Maybe you might find a trader who has a trading style that appeals to you.
The books I suggest would be "Market Wizards" and "Stock Market Wizards" by Schwager and "Money Masters" by John Train. These other guys can suggest maybe fifty other good books.
It took me about ten years to find a style that works for me.
Have you considered applying at prop firms where they train you in their style?
Best Wishes,
Dee
Hi: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.
I suggest that you read some books in which traders are interviewed concerning their techniques, triumphs and failures.
Maybe you might find a trader who has a trading style that appeals to you.
The books I suggest would be "Market Wizards" and "Stock Market Wizards" by Schwager and "Money Masters" by John Train. These other guys can suggest maybe fifty other good books.
It took me about ten years to find a style that works for me.
Have you considered applying at prop firms where they train you in their style?
Best Wishes,
Dee
Yes, but you need a big enough bank roll and a robust system that actually works. In my opinion day trading is a mugs game. I take positions from 1 week to 4 weeks and it pays handsomely going long or short. Do your own analysis, put the hours in and it will pay off. No tight stops either.
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