downrivertrader
Registered: Jan 2006
Posts: 951 |
08-16-06 07:11 PM
If I was in front of the original poster of this thread, Happy Go Lucky, I would slap him. But since I am not, I will try to help you with some written advice.
I have posted this chart on these forums from time to time. I am not trying to brag with this chart....only trying to prove a point. I began trading in 2002. This chart only reflects my time with Tradestation which began in July of 2003. You will notice that it took me about 700 - 800 trades to show any profit. Then it clicked and I can now call myself a full time trader with plenty of USD's to make me feel good. I also have a couple longer term accounts at IB for my retirement funds that I have done extremely well in that I am not counting.
I worked for a major corporation and fell in love with trading in 2002. I did okay in the corporate world. I made around $240,000 a year at my job. I was in sales so it was not always consistent. But none the less, I did okay. I do not work for corporate america anymore and I have made over $200,000 in one week on several occassions.
How did I do this? It was simple. It's not about any edge or indicator or mentor. Wash this from your mind. Believe in yourself and your God given talents. Search very hard within yourself to understand what you really want in life and what is important to you. Go buy two books (I think they are both around $7.95). Napoleon Hill's "Think and Grow Rich" and also Maxwell Maltz, "Psycho-Cybernetics". You don't need these books really, but they re-inforce the age old principles that make a man successful. Commit to understanding and developing these principles and apply them to your own situation. If you do not believe in them, or if you try to complicate them, then you will not be succesful. The principles include...but are not limited to:
- Definiteness of Purpose
- Persistance
- Self-Image
- Faith
- Creative Imagination
- Auto-suggestion to the subconscious mind (extremely important)
These principles are behind every great man. They will guide you.
Take your trading methodolgy to a new level. Start with a blank chart. Do not, I repeat, Do NOt rely on any ridiculous indicators or colored sqiggly lines. These will bankrupt you. Devote yourself to a study of value. Remember, you are a trader. Traders buy and sell value. Your job is to buy at proper values so you can sell for a profit (and vice versa). Commit to identifying what a good value is, not when a stupid average crosses or and ADX is low. I would also suggest you make your trading decisions on no less than an hourly chart. Use old fashion things like trendlines and price channels. You will be a winner.
My friend, you need to work on you. Trading is easy and natural and should be very rewarding as a profession. Believe in yourself. Commit here and now to becoming successful and let nothing stop you. Trading is all about you and nothing else. If you have kids, do it for them. If you want to be a philanthropist, do it for charity. Success will follow for you, if you belive in yourself.
Good luck and God Bless.
DRT
 my equity curve.png
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