how long did it take?

[Paul71]

Er..no I'm not, you did...:whistling.. The poster stated that if you havn't got $60,000 don't even think about starting to day trade. I replied thus;

"You do not need anywhere near that amount of capital as "starting capital"



Wakey wakey! Smell that coffee, dreamy head.

 

[Black Swan]

Er..no I'm not, you did...:whistling.. The poster stated that if you havn't got $60,000 don't even think about starting to day trade. I replied thus;

"You do not need anywhere near that amount of capital as "starting capital"



Wakey wakey! Smell that coffee, dreamy head.

 

[oildaytrader]

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[Silversea]

Took me about a year as a trader. But I had been a longer term investor for a decade before that so I had an understanding of the markets. I had my strategies sorted out pretty quickly but it was only when I found a mentor that I really understood what it was to be a trader and from that time on I have been consistently profitable. I make enough to earn a decent living but I also have a job as if i didn't I think my trading would get worse not better,

First one that actually answered the question ! The others deviated and never did, what a bunch of crap !

 

[jerome681]

It has taken me about 2 years to be consistent. I had to work through all the emotions and to find out what system or time frame I'm comfortable with. I would agree if you have a good mentor the path is easier.

 

[yiehom]

crap toi - même!

I beg you pardon, sir?:-0 what a bunch of crap ! [/QUOTE]

 

[jonlebon]

Took me 2 years to make yearly profit and 3 years to achieve some form of consistency even though still making mistakes and occasionally breaking rules.

Last year mistakes did cut my profit by 50%.

I v learned that you need to adapt your strategies and trading style to your psychology even if it means missing on profit.

 

[yiehom]

May I ask which instruments do you trade ?

Yiehom

Took me 2 years to make yearly profit and 3 years to achieve some form of consistency even though still making mistakes and occasionally breaking rules.

Last year mistakes did cut my profit by 50%.

I v learned that you need to adapt your strategies and trading style to your psychology even if it means missing on profit.

 

[jonlebon]

An experienced trader told me once that if you v managed to payback the cost of your education from your profits after 3 years, you are on the way to success.

 

[jonlebon]

May I ask which instruments do you trade ?

Yiehom

USDJPY EURGBP USDCAN, metals, Dow,SNP all on daily charts.

 

[yiehom]

I struggled for 2 years with forex with no positive outcome. Now I am trying some soft commodities and find them less volatile. Since 1 year + I haven't blown up my micro account, which was quite an achievement already for me. Now I am looking for fellow learning traders willing to share some hands on experience.

 

[Shikamaroo]

Now I am looking for fellow learning traders willing to share some hands on experience.

Do you think group think can help suppress the urge to do the things that go against general trading advice so that poor traders can become good in the company of other better traders?

 

[yiehom]

Definitely, Shikamaroo. Not absolutely with the better traders. Working with people at the same level, like for revueing things in group at school before exams, can be very usefull.

 

[Silversea]

I simulated for 3 years before going live.Until one day I score 10 consecutive winners.In my opinion that is what every novice should do but don't. Never found the holy grail but close to it.

 

[barryb]

I simulated for 3 years before going live.Until one day I score 10 consecutive winners.In my opinion that is what every novice should do but don't. Never found the holy grail but close to it.

Too long on sim by about 2 years and 9 months. Also to hit 10 winners in a row doesn't mean jack sh1t. It's about being ahead after 100's or 1000's of trades, each indvidual one is not significant, it's the amount you make on the ones you are right which dictates your success.

 

[yiehom]

I simulated for 3 years before going live.Until one day I score 10 consecutive winners.In my opinion that is what every novice should do but don't. Never found the holy grail but close to it.

You mean all the 10 in one day, or ?

 

[oildaytrader]

Too long on sim by about 2 years and 9 months. Also to hit 10 winners in a row doesn't mean jack sh1t. It's about being ahead after 100's or 1000's of trades, each indvidual one is not significant, it's the amount you make on the ones you are right which dictates your success.

It depends on the points you make not the money you make.If you make more money with large position size on the winning trades , and most of your losing trades have lower position size making up 70 to 80 % of your losers, your overall win loss ratio can be crap and useless in the long term.

 

[barryb]

It depends on the points you make not the money you make.If you make more money with large position size on the winning trades , and most of your losing trades have lower position size making up 70 to 80 % of your losers, your overall win loss ratio can be crap and useless in the long term.

And what do points buy you?? Which shops take them as currency??

 

[barryb]

I can be crap and useless in the long term.

I agree.

 

[oildaytrader]

And what do points buy you?? Which shops take them as currency??

You don't ged it , do you?

Say you win 10 trades *10 points *$1,000 = $100k profit.

The losses on 80 trades * 20 loss *$1 per pip = $1600

Net profit is $100,000 -1600 =$98,400

Your statement is invalid because the points made = 100 and lost is 1600 , it equals to losing trades ratio of 80/90 = 88.8 % losers .They would end up like that with your advice.

This is why I wouldn't take any coaching from your pathetic lot.Go take a few more cheap shots.