Article What can I make in my first year trading?

danfreek

Active member
184 2
I think that the question in the case of this article is rhetorical, the whole question is wrong, it should be "how much can I stop myself from losing in the first year?", but it never will be. The point is that when people first come to the market, it is to make money, therefore most people want to know how much they can really make, of course the truth is that not losing money in the first year is a great success, let alone making money. I think that that was what the article was trying to point out.

Personally I don't think that the message will ever get through. When I first started trading I believed that I would make money right from the word go, and hearing otherwise didn't make me think any differently. But after a while, the realisation that this game is much harder than it looks starts to come home, and the objective begins to turn from wanting to make money to not wanting to lose money, and that, ironically, is when the real money begins to start flowing. IMHO :D
 

SOCRATES

Veteren member
4,966 134
Danfreek, you are right. I am accused of banging on about character, about having rhe right character for this profession.

The fact of the matter is, the ability to recognise, modify, alter, change, reverse whatever you may choose to call a posture with regard to self control and an acceptance of results from a point of view allowing the viewer to use these results constructively to achieve positive alternatives, is not just dependent on intelligence and the ability to recognise, it is dependent upon having the right character to be able to allow oneself to take advantage of all trading experiences, including blunders.

That is the root of the problem, and not the ability to reason and logically deduce what is right and what is wrong, but the ability to act upon this.
 

danfreek

Active member
184 2
SOCRATES said:
That is the root of the problem, and not the ability to reason and logically deduce what is right and what is wrong, but the ability to act upon this.
I can not agree more! :D
 

SOCRATES

Veteren member
4,966 134
Yes, but the problem is that people get offended when they are told this, which is the cruel truth, blunt, and to the point, because for some reason they view it, unjustifiably as a sort of personal affront.

If they were able to leave their personalities out of it, and get cracking on the root of the problem, they would all succeed.

It is the discomfort of doing so, or rather the percieved discomfort, that acts as a barrier to ultimate success.
 

danfreek

Active member
184 2
I have heard many times that that is the reason women often make better traders than men, the ability to objectively focus on the problems without letting the ego get in the way.
 

TheBramble

Legendary member
8,395 1,170
danfreek said:
I have heard many times that that is the reason women often make better traders than men, the ability to objectively focus on the problems without letting the ego get in the way.
I've not read any research which suggests women have greater capacity than men, or vice versa to focus objectively.

I think we may tend to hear more about successful women traders as we do about successful women in any area of commerce & business because they are in the minority. They stand out.

I'd agree in general, from my experience, successful women are very focused. But then, so are successful men... :cool:
 

SOCRATES

Veteren member
4,966 134
I have a minute between proceedings.

I would like to take the opportunity to salute the 3 lady members of this website who are my students. I commend you for your clarity of vision, discipline and discretion.

There is no need to post as you have earnt your right to anonymity and personal freedom which has to be respected.

If all traders had your abilities and behaved like you do there would never be any arguments, only constructive discussion and progress.

Also what is remarkable about you three is not only your performance but also the fact that your ability to embrace all of the agenda and not to stray one inch into the temptations placed in your path should stand as an example to the men.

This is as a consequence of your complete openmindedness and willingness to progress, through acceptance rather than confrontation.

Kindest Regards To You Special Three .X.X.X.
 

SOCRATES

Veteren member
4,966 134
You may well try to make jokes about these ladies. But these ladies always have the last laugh. In fact they are able to make many men who aspire look very silly. In fact they sometimes succeed in frightening even me, and that is saying something. So don't knock, take your testosterone elsewhere, this is not the correct place for it. I am not allowed to tell you more, all I can reveal is that it is truly awesome.

KInd Regards.
 

FetteredChinos

Veteren member
3,897 40
erm i wasnt knocking in the slightest..quite the opposite. im all for encouragement.

contrary to popular opinion, i am actually quite considerate, but i dont like the sancitmonious and overly serious attitude that pervades these boards an awful lot of the time..

trading, is a solitary, and frankly quite dull pastime. the reason BB's are so popular, apart from the obvious exchange of ideas (well from some people anyway), is the fact that they allow people to interact, whilst still being at their trading screens..

the chat and banter is just as much part of BB culture as the ideas and petty arguments.

Soc, i wish you well, and good luck with the holiday.
 

SOCRATES

Veteren member
4,966 134
Thanks, Fettered. Of course all of it is fun and a welcome change from gazing at screens, like now for example when everything is going sideways, like watching paint dry.

It is the loneliness and isolation of trading that is difficult to cope with sometimes, not the trading itself.

Kind Regards.
 

danfreek

Active member
184 2
That's very ballanced of you bramble, actually I think you are probably right, afterall it's easy to find a successful male trader, but it's harder to find any kind of female trader. That's a shame in a way, but it's not like there are any gender specific barriers to entry (possibly when getting a job as a trader as is pointed out in "liars poker") but not for private traders.
 

TheBramble

Legendary member
8,395 1,170
SOCRATES said:
II would like to take the opportunity to salute the 3 lady members of this website who are my students. I commend you for your clarity of vision, discipline and discretion.
Well done Socco. I have 15 female members of these boards and 78 males. All whom I mentor and support. And they adore me.

They have all seen me trade and know my setups and my exits and just how large a player I am.

They have seen me not only predict the movement (or atemporal flow in quasi-multi-dimensional space-time as we call it) and of price structures and schedules, but seen me compose a chart (including volume and OHLC) on a 5min bar basis a week ahead of the actual events. And across all instruments on all exchanges. Including commodities.

Of course, being discreet, and having the correct character and after exhaustive tests for satisfaction of the numerous and difficult tasks set them, nobody will ever know who they are as I have sworn them all to absolute secrecy on pain of excommunication from my elite cadre.

To the profane and grossly unaware bunch that pass for traders on these boards (scum - every man jack of them) it's almost as if they didn't really exist.
 
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