Why do you trade?

mason_ritter

Member
76 3
I agree with everything you say, especially the part about peer pressure. As a newbie I made a lot of mistakes because I listened to various opinions, not all of which were competent, about how to trade. Now I've learned to first and foremost listen to myself and I've learned how to discern the competent from the incompetent opinions.
 

Merk Porter

Junior member
44 0
Forex being a decentralized market is offering good platform to millions of people. Many infrastructural benefits of forex are making it as one of the best virtual earning stages. I am here to add some extra income to my existing wealth position. But as a trader I must say that each trader must continue his learning as forex is a changing market and a trader may need to adapt his trading method as per the changes in the market.
 

chrischu

Newbie
6 0

Forex-Jedi

Junior member
12 2
To be honest, I think you should stop trading for a while, or at very least switch to demo. I’d be very concerned if I found that losing in trading was, as you say taking all my focus and causing me stress and general negativity. Life is too short for this.

If your emotions are running high then you won’t have a hope of trading calmly and objectively, and that’s essential.

Also, you talk about trading be the only way you’ll be rich etc, I think your expectations are out of line with what’s possible.

Yes it is possible to make big money, but only if you either take crazy risks (whereupon you will certainly blow your account in no time) or have a large amount of capital to start with.

To give an example, a disciplined trader with an excellent system could consistently make approximately 5% per month. That would be considered very good. If you had a £10,000 account, that would be £500 per month. That’s not going to make anyone rich, and you certainly couldn’t live on it.

Good money management principles require that you don’t risk more than 2% of your account at a given time, which protects you from large losses but also limits the amount of profit you can make.
 

Jungshin

Junior member
13 0
I think many are interested in forex trading because there is a bonus no deposit promo, so there is no need to deposit but it can get the profit .
 

ffsear

Experienced member
1,923 351
The apple never falls far from the Tree! My dad was an FX trader for Bankers Trust, Midland Bank and later HSBC before he retired. I guess my experiences of being taken onto the trading floor many times by my dad as a kid had a profound effect on me.
 
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slvrrisc

Newbie
4 0
Same reason we all heard. Some schmuck advertising extra money could be made from trading. Then hearing stories about how a special few made millions while in reality 98% bust out. Cramer also said most people trade or invest because one's current job situation is often limited in income. Then you realize 99.98% of trading education advertizers are all cons and scams to varying degrees. And then you count yourself lucky if you were able to learn to breakeven in time, at least hoping someday it'll be more consistent and finally worth it.
 

NVP

Legendary member
36,279 1,787
The apple never falls far from the Tree! My dad was an FX trader for Bankers Trust, Midland Bank and later HSBC before he retired. I guess my experiences of being taken onto the trading floor many times by my dad as a kid had a profound effect on me.

agreed FF....my dad and grandad were bookies .....so i was always going to be in the gambling business one way or the other ..........I was a serious gambler by the age of 15 and making a lot of money .....I was told by my family to back off and become an accountant and get a proper job ......luckily i side tracked them by later working on the Shell oil trading floor which they saw as better than a common gambler ....so everyone was happy !

N
 

NVP

Legendary member
36,279 1,787
Same reason we all heard. Some schmuck advertising extra money could be made from trading. Then hearing stories about how a special few made millions while in reality 98% bust out. Cramer also said most people trade or invest because one's current job situation is often limited in income. Then you realize 99.98% of trading education advertizers are all cons and scams to varying degrees. And then you count yourself lucky if you were able to learn to breakeven in time, at least hoping someday it'll be more consistent and finally worth it.

agreed ...........the main issue with trading is the ease of access to setting up an account and depositing money ......then all they have to say is that trading is achievable and you can work from home ...and become a millionaire ......the gullability of the person in the street does the rest ......

I was watching a tv channel (ITV 2 or 3 or whatever) last night and 3 out of every 5 adverts were for online gambling ..............jesus its frightening ............cant wait for them to ban them like they did for alcohol and cigarettes

N
 

J_C_Anderson

Member
99 14
For sure, modern gadgets create unique trading possibilities. If you are swing trader, you can monitor you positions from the any place. The traders of the past could not even dream about that.
Another point is that information becomes more affordable. Now you can just download app, subscribe to something like Briefing or WSJ and get reliable information about the financial markets.

Trading is something like intellectual challenge, creating new interesting tasks to solve.
 

Ovitany

Junior member
14 2
I like your post. Our jouney help us grow up as a trader.We know what's we wrong.We can change there mistake and find out them with "why". Example why we entry position too ealry? Why we entry position too late? After you clear you mind and make a trading journal. You're better than yesterday.
 

tokyojoe

Established member
866 287
Basically, I'm just wondering what got everyone into trading, but most importantly, what keeps you from smashing your computer and moving on to literally anything else?

Me, I’m upset with where i am in life. I have grown stronger and stronger but financially I’m so weak. I find so much shame when it comes to my financial situation. At the same time i see day trading / investing as my only way to have real money, or at least the first step to acquire enough money that I can pursue options that would be right now, impossible to do. Basically, it could provide the freedom to attempt to be rich. At the same time, two years of working hard could provide me with a suitable nest egg, but theres no part of me that wants to spend any more time working construction. While 7 years may not seem long to some, I personally hate not having control over my schedule or actions.
I am truly experiencing tunnel vision. Trading, losing at trading specifically, has taken all my focus. This must be exactly what gamblers feel like. I am astounded how many negative and non-productive feelings I get as a result of trading. Some examples are, Ill show them, when i make it life will be better, YOU ****ING SUCK I HATE YOU is a pretty regular one, etc.
Perhaps i’ve just become addicted to the high of a winning trade, being a caffeine-aholic I could definitely see a connection in terms of dopamine and the brain. But truly, the reason I still put my heart and soul into this energy sapping venture is that I truly believe it is a viable source of income, and I do love a challenge. Perhaps there is no beating the market, its all just a matter of luck, but I refuse to believe that. It has taken alot of money from me, but on top of that so much time. Time that could be spent on anything. But I regret nothing, this is my ocean to brave, and all I can see is the freedom that success in this venture can, or if you believe in being positive, will bring.
This may be my final 5 days of trading. From a non emotional view, I dont see any value investing any more time or money into myself. I go home for a week to see my family either way the week after, with or without success in the market this week I will be glad to see them. Wish me luck.
Caesar

Hi Caesar, I don't know your age, but trust me on this, focus your efforts into learning a real trade, a trade or profession which pays well, one that will eventually enable you to branch out on your own...... Anybody on this or any other forum who tells you they are doing trading as a full time job......& more over making a fortune (or decent living wage) are talking out of their @rse. This goes for so called "well known forum members" who seem to live their daily life...... "online" shall we say.

I was & am in a very fortunate position financially, through trading ? no, it was through 20 years of hard work running a business which paid well, very well, I paid my mortgage off 10 years early on a detached house in an affluent area, seen the world & have never had financial worries.....through trading ? no.......One of the members said "not working for someone is only half as good as having a great job !"......sorry but what a load of sh1t, having a good job is still a job, you are still a number, a bod, a paye slave.

I started my journey with £2,000 to my name at the age of 17 & now in my forties. If I could go back to being 17 would I use that money to trade ? would I fu<k !

It's a hobby, nothing else.
 

tomorton

Legendary member
7,157 931
Hi Caesar, I don't know your age, but trust me on this, focus your efforts into learning a real trade, a trade or profession which pays well, one that will eventually enable you to branch out on your own...... Anybody on this or any other forum who tells you they are doing trading as a full time job......& more over making a fortune (or decent living wage) are talking out of their @rse. This goes for so called "well known forum members" who seem to live their daily life...... "online" shall we say.

I was & am in a very fortunate position financially, through trading ? no, it was through 20 years of hard work running a business which paid well, very well, I paid my mortgage off 10 years early on a detached house in an affluent area, seen the world & have never had financial worries.....through trading ? no.......One of the members said "not working for someone is only half as good as having a great job !"......sorry but what a load of sh1t, having a good job is still a job, you are still a number, a bod, a paye slave.

I started my journey with £2,000 to my name at the age of 17 & now in my forties. If I could go back to being 17 would I use that money to trade ? would I fu<k !

It's a hobby, nothing else.

"Not working for someone is only half as good as having a great job. But its twice as good as having a crap job."

I've had a couple of great jobs. Jobs which didn't take up all my hours, which provided me with plenty of money, future financial security also, plenty of leave time to enjoy travel and the good things in life, jobs which were mentally stimulating, jobs which I couldn't wait to get to the office for, jobs in which I met so many good people and had such a lot of fun.

If I still had a job like that, I wouldn't have bothered learning trading. Now that I trade, I will never never go back to working.