5 Things I have learned in 5 years of trading!

Start with $100K, and after one year you have about $12.5M. It sounds easy enough.

 

Hello ph1l,

Nothing is easy when it comes to making ALOT of money. I was explaining the possibilities.

 

it seemed to me that in five years of work you can get much more than that)

 

Yeah great thoughts and ideas of a trader. taking the time to understand this is not going to happen over night or with out work

 

It's not a trivial achievement to beat "the index" consistently.

 

Good point, one strategy I found really helpful in my early years was to print out examples of winning trades versus the stop out trades and look for differences between each group of charts. I put the stop outs in red binders and the winners in green binders.

 

I do not. A short story: I once had a friend who I taught trading wide ICs on indexes. He doubled his money in 3 months' time, mortgaged his house and started thinking that living in Caymans is not a bad idea. Noticed how I said "had". In a year, he moved to his ex's basement and since drives a truck to the ex's total delight. The moral is, even something so simple (on the surface) as IC, cannot be just passed to someone. It involves so much more than just clicking, something that cannot be simply taught.
Just my 2 cents. Love the topic!
Cheers!

 

Will you give ideas behind your smart money trading, or ideas.
..

 

I think it's important to distinguish two kinds of goals: 1)results goals, and 2) action goals. You can't control results goals; you can control action goals. For example, if your goal is to make a profit of 5% per month, you cannot control that, and you are likely to fail. OTOH if your goal is to trade no more than once per day, you can control that. It is doable.

 

Not for the pro shops that have collectively made billions.

But for daily ET posters, yes.