To get where I am today, I started....

[RobbySan79]

:smart: Why dont you tell us (newbies) how you started out in trading and which steps did you follow to get where you are now? I bet this would help us understand all the different paths that there are avalilabe for those who want to take Day Trading as their career.

 

[wasp]

Ok....

I spent 5 years watching the charts for 10+ hours, every day, 7 days a week. I watched, tried, watched again, spent out of hours time studying prior charts then, after I realised how pointless indicators were, I started a fresh without any and drew a million lines and deleted the lot. Started over, switched time frames, switched markets, switched back, dumped the lot, started over, watched candles, then bars and then lines. Then I went back to the start and did it all again. My eyes bled, my brain overloaded and I couldn't live without gin (preferably with Martini and olives).

After I did all that for about 3 of those years, I started again, looked at the chart, thought about what I was watching and what a 'market' actually consists of. I then harassed as many people as I could find who traded my markets and tried to find out how the big boys traded. Went back to the charts and drew a million more lines.

After about 4 years it started to become obvious and I had my 'eureka' moment... My 'Neo at the end of the Matrix' type moment when it all become glaringly obvious.

Never read a single trading related book and only snippets and nuggets(!) have been through t2w, but without a shadow of a doubt, I wouldn't be where I am at now without the screen time.

Then I spent about another year sorting my discipline. I am still learning every day........

Ready for the journey? Its ****ing hard work but worth it!

Good luck!

 

[RobbySan79]

MR. Wasp,

Thank you very much for sharing your experience. Somehow I though possible to get where you are without taking courses...just wants sure. What is it in the trading system that keeps you going eventhough it looks impossible, until THAT great moment?

TKS,
RSan

 

[wasp]

You don't need courses, you just need time and hard work, and that 'trading system' that keeps you going through the learning process is called, a 'real job'!

 

[new_trader]

No Short Cuts

Ok....

I spent 5 years watching the charts for 10+ hours, every day, 7 days a week. I watched, tried, watched again, spent out of hours time studying prior charts then, after I realised how pointless indicators were, I started a fresh without any and drew a million lines and deleted the lot. Started over, switched time frames, switched markets, switched back, dumped the lot, started over, watched candles, then bars and then lines. Then I went back to the start and did it all again. My eyes bled, my brain overloaded and I couldn't live without gin (preferably with Martini and olives).

After I did all that for about 3 of those years, I started again, looked at the chart, thought about what I was watching and what a 'market' actually consists of. I then harassed as many people as I could find who traded my markets and tried to find out how the big boys traded. Went back to the charts and drew a million more lines.

After about 4 years it started to become obvious and I had my 'eureka' moment... My 'Neo at the end of the Matrix' type moment when it all become glaringly obvious.

Never read a single trading related book and only snippets and nuggets(!) have been through t2w, but without a shadow of a doubt, I wouldn't be where I am at now without the screen time.

Then I spent about another year sorting my discipline. I am still learning every day........

Ready for the journey? Its ****ing hard work but worth it!

Good luck!

Mr Wasp, can't rep you again. Good post.

Hard work, study, practice, assiduous dedication...and that's what it takes just to get to the point of breaking even consistently!

 

[RobbySan79]

Thanks very much! Really!

 

[leovirgo]

I ........
started with 1 indicator and 1 time frame.. then
started to use 2 indicators - one moving average and one oscillator .. that's classic..
expanded my screens to use 2 time frames..
added 1 more timeframe for overview and another for fine tuning my entry...
studied market internals such as advance decline ratios, adv decl volumes ... awesome powers..
found out SR lines.. hey they worked!!
created some pivot lines..
wrote custom indicators to follow the trend.. let the profits run...
thought I had perfect entry but.. still searching for perfect exit..
took me three years..

Holy grail found
only then I realised that all I need is a line ... or a price
.. above it - buy
.. below it - sell

Trade management
One line to sum up .. make sure you winnings are (much) larger than your losses..


Trading is not for the faint hearted nor the Mr Rights..!!

 

[Joey25]

Was on 250K a year in an IB, when they put a stop to own account trading.

Quit, and proceeded to lose half my stake during 9/11.

Then, overpaid for a house and lost some equity.

Now earn less than a teacher.

 

[timsk]

After about 4 years it started to become obvious and I had my 'eureka' moment... My 'Neo at the end of the Matrix' type moment when it all become glaringly obvious.

Yo Wasp my main man,
If I asked very, very nicely what your eureka moment was, I don't s'pose by some slim chance you'd care to share it with us would you? Pretty please. I'll rep' your post if you do!
:cheesy:
I've had loads of eureka moments too. Some of them are genuine and some of them turn out to be false, which is to be expected. But the ones that really get you are those that mess with your head. They are akin to mountain peaks in the mist. You see one and climb towards it, thinking you're very close to the summit, only to find you're not and there's another peak, even higher and more distant than the last. At that very moment, you realise you've been duped, and the market has had a good laugh at your expense, be it emotional, financial or both.
Tim.

 

[wasp]

Yo Wasp my main man,
If I asked very, very nicely what your eureka moment was, I don't s'pose by some slim chance you'd care to share it with us would you? Pretty please. I'll rep' your post if you do!
:cheesy:
I've had loads of eureka moments too. Some of them are genuine and some of them turn out to be false, which is to be expected. But the ones that really get you are those that mess with your head. They are akin to mountain peaks in the mist. You see one and climb towards it, thinking you're very close to the summit, only to find you're not and there's another peak, even higher and more distant than the last. At that very moment, you realise you've been duped, and the market has had a good laugh at your expense, be it emotional, financial or both.
Tim.

Hi Tim,

It wasn't a singular thing but 5years worth of intense and broad study, all finally slotting into place in one and like Buddha under his tree, everything made perfect sense. Hard to explain but the 'neo/Matrix' anaolgy always sums it up best. Not just the charts, or fundamentals but EVERYTHING that encapsulates my market of choice and it just works, because I feel, I am in perfect tune with the players and the market. You'll know it when it happens!

Bit ****ing deep for a Friday night... wheres the Gin ffs!

 

[slik]

Came out uni, joined an options trading house. After a stint of fetching coffee, dry cleaning, admin work whilst gaining derivatives knowledge, started on the trading desk and now an options market maker.

 

[desireebruce]

Thank you for the above comments. Trading makes you humble and its very hard work. I agree its not for everyone.

 

[pavelsg]

Ok....

I spent 5 years watching the charts for 10+ hours, every day, 7 days a week. I watched, tried, watched again, spent out of hours time studying prior charts then, after I realised how pointless indicators were, I started a fresh without any and drew a million lines and deleted the lot. Started over, switched time frames, switched markets, switched back, dumped the lot, started over, watched candles, then bars and then lines. Then I went back to the start and did it all again. My eyes bled, my brain overloaded and I couldn't live without gin (preferably with Martini and olives).

After I did all that for about 3 of those years, I started again, looked at the chart, thought about what I was watching and what a 'market' actually consists of. I then harassed as many people as I could find who traded my markets and tried to find out how the big boys traded. Went back to the charts and drew a million more lines.

After about 4 years it started to become obvious and I had my 'eureka' moment... My 'Neo at the end of the Matrix' type moment when it all become glaringly obvious.

Never read a single trading related book and only snippets and nuggets(!) have been through t2w, but without a shadow of a doubt, I wouldn't be where I am at now without the screen time.

Then I spent about another year sorting my discipline. I am still learning every day........

Ready for the journey? Its ****ing hard work but worth it!

Good luck!