When does it stop hurting...

[DionysusToast]

Why would you use the word obsession? And no it's not my only income as i have businesses than need a lot of work. But i'm bored of the rest and eventually will be trading full time

Any time you spend 20 hours straight staring at a computer screen, that's an obsession.

Any time everything else in life bores you, that's an obsession.

It's not unusual. Many of us have been there. Just consider the fact that you did a 20 hour shift and you thought 'good' was making the $400 - which is $20/hour. You thought 'bad' was losing the $400. I think this would be inevitable with the fatigue at this point.

Me,I think 'bad' is the 20 hours.

 

[Joules MM1]

he's trading everything but the trade itself....the amount of time spent is not important if he understands the different money travelling through whatever instrument he's on and he could trade for twenty hours and then take the next three weeks off...........what he is doing is trading size, excitement, money, avoidance of boredom reductio ad absurdum dum dum, how well he can get to the edge of whatever......clearly not trading the trade......

right now he's just about to step into the oh-where's-me-discipline robe ......nice cut, like the lining?

he's chasing the bunny

there's some journo-type running around here trying to sell his "education" ....track him down

 

[Doomberg]

Yeah you guys are certainly right, but i'd not traded in about 5 or 6 weeks properly due to work commitments and since i was on a roll i continued. I should of gone to bed but stayed up as it was all going well until the final 4 trades lol, in the new year i plan to iron out the creases and stick to a rigid plan as this is what i lack

 

[DionysusToast]

he's trading everything but the trade itself....the amount of time spent is not important if he understands the different money travelling through whatever instrument he's on and he could trade for twenty hours and then take the next three weeks off...........what he is doing is trading size, excitement, money, avoidance of boredom reductio ad absurdum dum dum, how well he can get to the edge of whatever......clearly not trading the trade......

right now he's just about to step into the oh-where's-me-discipline robe ......nice cut, like the lining?

he's chasing the bunny

there's some journo-type running around here trying to sell his "education" ....track him down

The time is very important.

Nobody can focus for 20 hours, not without drugs.

 

[VielGeld]

If you can make 400 pips a day, even if you have to be awake 20h for it... I think everyone would do that. Lol.

What drug do you need? Money's more powerful than all the world's crack!

 

[MoonRocket]

Maybe it was the 20 hours straight..?

Mmmnn...Yes I'd say so.
Even if you love whatever it is....drinking beer or having sex, you're performance
is severely diminished after a few hours.
Trading is a high performance activity.
But hey, I've done what you have done. Started with the ASX, onto the Ftse
and then to New York.
But I've learn't........very slowly.

 

[DionysusToast]

If you can make 400 pips a day, even if you have to be awake 20h for it... I think everyone would do that. Lol.

What drug do you need? Money's more powerful than all the world's crack!

Specifically? Ritalin or something like it.

As for staying up 20 hours a day - no, I would not stay up for 20 hours a day.

I am not sure if his +400 is dollars or pips but I can tell you one thing - you do not need to make a large number of ticks/pips to make a living trading. In fact, it is ludicrous to attempt to make huge numbers when you can cherry pick lower risk, smaller targets and build up the sort of hit rate and confidence that lets you trade SIZE.

It's just small swinging dicks with $1k accounts that go for big targets IMO. My opinion is that this is one of the causes of their demise.

 

[Bint_Crusher]

Yeah the funny thing is, i make the most money when i rule break... but i also make the most losses when they happen, and when they come they come big.

If you break your rules then you are a 88888888. I live in absolute terror of the mods that certailnly with time will

 

[new_trader]

Yeah you guys are certainly right, but i'd not traded in about 5 or 6 weeks properly due to work commitments and since i was on a roll i continued. I should of gone to bed but stayed up as it was all going well until the final 4 trades lol, in the new year i plan to iron out the creases and stick to a rigid plan as this is what i lack

IMO and experience, profitable trading is a perishable skill. If you have been away from your screen and the markets you will lose the 'beat' so to speak. If I've been away from the screen on holiday or due to work, I normally have to watch the screen for 2-3 days to get back in 'tune' with the market.

I think I've said this to you before as well, you are still a hit-and-miss trader and lack a working methodology, anybody who knows what is what would not be compelled to actively trade for 20 hours straight. It stops hurting when you (money permitting) eventually understand this concept.

 

[Chartsy]

Specifically? Ritalin or something like it.

As for staying up 20 hours a day - no, I would not stay up for 20 hours a day.

I am not sure if his +400 is dollars or pips but I can tell you one thing - you do not need to make a large number of ticks/pips to make a living trading. In fact, it is ludicrous to attempt to make huge numbers when you can cherry pick lower risk, smaller targets and build up the sort of hit rate and confidence that lets you trade SIZE.

It's just small swinging dicks with $1k accounts that go for big targets IMO. My opinion is that this is one of the causes of their demise.

Agree, I made about 2500 pips last year trading daily charts. Yet that was +22R and 40% gain. Low leverage and scalable is the way to go.

 

[safvan]

Agree, I made about 2500 pips last year trading daily charts. Yet that was +22R and 40% gain. Low leverage and scalable is the way to go.

There is huge difference between investing and trading for a living. If you trade for a living then 40% is peanuts. Heck even investing in index fund returns you around 20% per year with no effort and add dividend type scheme to it and you are there without spending more than 10 minutes in front of the screen.

You need to be able to return a lot more than that to pay your bills assuming you have an account under $100k. If you are betting $10 a pip you are just making around $500 per week average. It is hard living on that type of deal.

Getting 40% off $1 million is still acceptable return but returning 40% on $10k is not going to get one any where. It is simply not worth it IF one trades for a living.

Investing and Trading are two very aspects of this business. It does not require too much effort to invest in instruments. Eventually all prices revert to mean. You just need to time it correctly.

 

[Chartsy]

There is huge difference between investing and trading for a living. If you trade for a living then 40% is peanuts. Heck even investing in index fund returns you around 20% per year with no effort and add dividend type scheme to it and you are there without spending more than 10 minutes in front of the screen.

You need to be able to return a lot more than that to pay your bills assuming you have an account under $100k. If you are betting $10 a pip you are just making around $500 per week average. It is hard living on that type of deal.

Getting 40% off $1 million is still acceptable return but returning 40% on $10k is not going to get one any where. It is simply not worth it IF one trades for a living.

Investing and Trading are two very aspects of this business. It does not require too much effort to invest in instruments. Eventually all prices revert to mean. You just need to time it correctly.

Try telling hedge fund managers that

Nah, I risk 1.5-2% per trade and the aim is to get good on low amounts and getting backed. What's wrong with that? Better to have realistic expectations than to join the herd who will ' risk 50% of my account and THEN i'll do MM, I promise!'

 

[brettus]

Try telling hedge fund managers that

Nah, I risk 1.5-2% per trade and the aim is to get good on low amounts and getting backed. What's wrong with that? Better to have realistic expectations than to join the herd who will ' risk 50% of my account and THEN i'll do MM, I promise!'

​

I would rather make 40% a year trading a 10k account proving i can be sucessfull than going for the holy of grail of 100% and trading full time. We can save 100k in our lifetime and when we reach that point we can trade for a living. Most people who start with 10k and try to trade fulltime are mugs.

In regards to Doomberg's problem. I dont think you have a proper plan or a profitable plan. You're obviously having fun at a casino.

 

[Masquerade]

There is huge difference between investing and trading for a living. If you trade for a living then 40% is peanuts. Heck even investing in index fund returns you around 20% per year with no effort and add dividend type scheme to it and you are there without spending more than 10 minutes in front of the screen.

BULL****!! Where do you come up with this stuff?!? "40% is peanuts", index funds returning 20%/year with no effort You're a hell of a funny guy.

 

[new_trader]

Investing and Trading are two very aspects of this business. It does not require too much effort to invest in instruments. Eventually all prices revert to mean. You just need to time it correctly.

Yes, all you need to do is that one simple thing.

 

[Pat494]

Just to state the obvious - it'll stop hurting when :-
1. You stop losing
2. You are broke and stop trading

Find a mentor m8 who can help you ?

 

[the hare]

Far better to make 40% on 10 million account than 200% on a 200 grand account.

Absolutely. As a rule of thumb, I'd estimate that for every 50% reduction in annual returns (and drawdowns), you'll probably get a 10 fold increase in capital under management.

Its a no brainer really.

 

[MajorDutch]

There is huge difference between investing and trading for a living. If you trade for a living then 40% is peanuts. Heck even investing in index fund returns you around 20% per year with no effort and add dividend type scheme to it and you are there without spending more than 10 minutes in front of the screen.

You need to be able to return a lot more than that to pay your bills assuming you have an account under $100k. If you are betting $10 a pip you are just making around $500 per week average. It is hard living on that type of deal.

Getting 40% off $1 million is still acceptable return but returning 40% on $10k is not going to get one any where. It is simply not worth it IF one trades for a living.

Investing and Trading are two very aspects of this business. It does not require too much effort to invest in instruments. Eventually all prices revert to mean. You just need to time it correctly.

Utter utter bo77ox. Wrong in so many ways. And damaging to noobs also!

 

[the hare]

I'm working on it.

 

[Doomberg]

Just to state the obvious - it'll stop hurting when :-
1. You stop losing
2. You are broke and stop trading

Find a mentor m8 who can help you ?

My tradings going ok, but we all have bad days right?