Trading for a Living

Pat494

Legendary member
14,617 1,581
Well if you can hide your burgeoning account from the wife, the kids and in some countries the taxman - I say you probably qualify for 003.5 status, watch out James he's coming.
But if you are in to cars then it has to be a prancing horse !
 

BeginnerJoe

Senior member
3,329 350
Well if you can hide your burgeoning account from the wife,

Why hide if you have a market ATM in the bedroom where you can just withdraw more for the wife for however much she wants ? We are looking at a dead cert here, and making monies from the market is easier than a walk in the park.
 

pcj

Junior member
26 5
this months profits payed for a pizza (medium meal deal from dominos),
I had to pick it up though as i could,nt afford a tip.:cheesy:

yes i,m that awesome at trading:clap:
 

Jason101

Experienced member
1,372 215

Originally Posted by higherSelfishness
thx, d70 -

what i think i've decided to do is remove 50% after 100% gain, so that leaves room for compounding.

Quote:
Originally Posted by higherSelfishness
the first trick is to have substantial capital, risk little of it (.5-1%),

--------------------------------------------------------------------------------


I don't know how you missed my point. In one post you stated you would pay yourself 50% of your profits after a 100% gain on your account.

In another post in the same thread you said you will risk 0.5% a trade. So...

My point was how long do you really think it would take you to double your account at .5 risk???
 

higherSelfishness

Active member
103 9
In any case, kind sir, I would preclude to second the notion that risking .5% percent every trade would indeed render the endeavor of doubling the account a long ordeal indeed . . .

then again, one could easily argue that one could very well enter more than one trade at a time? hm ... (cue twilight zone theme)
 

Jason101

Experienced member
1,372 215
Semantics and banter aside.

A critical aspect to trading is to have clear goals and targets so you can plan to work towards them. Without this it is very hard to remain disciplined and focussed. Trading needs to be treated as a very definable business.

My post was just showing a concern for you, that you give these aspects lots of thought, as your two reproduced posts seemed to indicate a lack of cohesion.

My slightly ambiguous nature of the delivery was a tool designed to provoke greater thought (through your potential lack of understanding my post)that you as the reader may not have devoted as much time on this as you should have. Because my belief is that any one here who has, would have realised my point straight away. Therefore your lack of understanding acting to reinforce my point.

It is so easy to skip this part of planning and I believe the type of individuals that are attracted to trading are more prone to this than others.
 

NVP

Legendary member
37,786 2,110
QU - How to (re) allocate winnings / Earnings ?

ANS - its all about risk management (as is everything else in life)

N

(Clue- only keep minimum required levels of money with Brokers and be wary of all Countries that guarantee a £xx return of your deposits on any Bankrupted Bank......they just might not pay out)
 
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Jason101

Experienced member
1,372 215
NVP,

Scary times.
 

ffsear

Senior member
2,260 513
I have a fixed amount that I pay myself from my account at the end of each month. Regardless if I'm up or down.
 

Pat494

Legendary member
14,617 1,581
yep...........my bank tells me that up to £80k is safe in their hands and backed by the British Treasury

but whos backing up the British Treasury ?

the Fed ? :LOL:

N

The British taxpayers.
Do the politicians ask us if we would like to carry 2nd rate politicians' mistakes ?

er no - not really.It's either pink wasters or blue meanies.
 

advfntrader

Established member
739 66
everything I said makes sense Lee, trading with a full time job is even more difficult, you can't give either the trading OR your job full attention. I KNOW as I tried it for 4 years

regarding my "gambling" problem....I was trading and I lost. like many many traders have lost and lost and lost, are they problem gamblers ?? It was my family that reckon its a gambling problem. they do not understand really what trading is, just like many many discussions on here talking about trading vs gambling.

all the talk of "get back on the horse", "self improvement" etc. etc. when it comes to trading....would people say these things to a person who wanted to be a pro poker player ?? NO - only in the trading industry such things are said and this is conveniently to the advantage of all the brokers who are quite happy to take your money

my outlook is negative...and guess what ...the stats back it up....95% or more LOSE. simple as that





I sit here pondering as it's Friday night and usually I'm out but for a couple of months I am sat here looking on using T2W as an extension to Facebook (it makes me feel better :) ) I am awaiting a very special delivery is all I'll say at this point, but I think you've guessed already what that is.

I have to add while I sit here (casually) drinking and its been something thats been on my lips and probably many others for some time:

Ignore everything that ADVFNTRADER says and stay clear of his negative outlook on life - this person (who remains anonymous) needs professional help , not help from forum guys like us. He has admitted to a gambling problem and thus has nothing to do with trading full stop.

advfntrader - for your own sake seek professional help and stay off professional trading and gambling forums - this will not help you nor others. It is only damaging to yourself and you will only inevitably embarrass yourself and others around and close to you.

:eek:
 

Benj1981

Established member
694 108
everything I said makes sense Lee, trading with a full time job is even more difficult, you can't give either the trading OR your job full attention. I KNOW as I tried it for 4 years

regarding my "gambling" problem....I was trading and I lost. like many many traders have lost and lost and lost, are they problem gamblers ?? It was my family that reckon its a gambling problem. they do not understand really what trading is, just like many many discussions on here talking about trading vs gambling.

all the talk of "get back on the horse", "self improvement" etc. etc. when it comes to trading....would people say these things to a person who wanted to be a pro poker player ?? NO - only in the trading industry such things are said and this is conveniently to the advantage of all the brokers who are quite happy to take your money

my outlook is negative...and guess what ...the stats back it up....95% or more LOSE. simple as that


I ran this post by my mentor, and he said to me about you; "with his new views about trading, he's probably as close as he's ever been to getting a grip on things." Oh the irony!
 
 
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