No professional would ever tell you that this business is easy, if your going to use free mentors like Jack, Woodie etc... then you have to realize that you get what you pay for and it will take you MUCH longer to figure things out like that. There is no point in criticizing Jack or his methods because of YOUR failures. You heard what you wanted to hear, not what was being preached. Trust me I have used "some" of the tools that Hersey talks about successfully BUT that's only because I have a deeper understanding of the market that was cultivated for years. Your on the right road but you haven't paid the toll.
Algorithm, great post. I made most of my money when I started investing in companies I thought were going to grow well. I made great money. Then I thought I would be able to start trading actively and make money trading and I was wrong. I'm not a trader at heart I guess and while I was "invested" I traveled for 6 months and had no worries, lived a life and lo and behold my investments went up 500%+ like I expected them to because I researched and knew the company and business well. Confidence in my investment let me take off without even worrying about my investments at the time. Then earlier this year I decided to try trading again with some play money(for those idiots who will accuse me of using fake money, "play money" refers to money that is expendable) and haven't accomplished what I wanted. In the meanwhile I've found 3 or 4 stocks that I'm quite confident will go up 300-500% in the next 2 years and have been diversifying most of my portfolio into them. I've realized I think finally that there is a certain style of investing for me, a market I should focus on, a timeframe, a methodology and philosophy, etc. There is likely a combination of all these factors that suits everyone...whether you want to invest long/short term, trade long/short term, use TA, Fundamentals, industries, currencies, bonds, etc. If you have a passion and interest in the field of financial markets, there's probably somewhere for you to excel, but finding it before burning out, flipping out, or whatever else leads you astray from your best path might just be the hardest part of making it. If someone like stock_turder wants to believe that he's a great trader(even though he doesn't trade) and is happy thinking he's awesome(with $100k and a 17" monitor) then that's great for him. ..but someone else(almost anyone with an IQ over 40) would want to do better probably before claiming victory. It's up to the individual I guess. Cheers.
The mistake is thinking you can "make a living" trading just because you work hard. The market don't give a flyin' fuck how hard we work. I know a couple of guys that are really good golfers. They have a 1-2 handicap. Can they make a living golfing? Not a chance! Pick up a few extra bucks in some local shit, yes. Same goes for every single profession. A chosen few get to the top. The rest of us just do the best we can. Bottom line for me, I trade because I enjoy it. Whenever I've tried to "make a living" at it, I failed and it was miserable. Now I'm just looking to supplement my income and I do quite well at that, but I don't live and die with every trade. It goes well, great. It goes bust, fuck it, it's only risk capital anyway. There is no self actualization through making money. Accept that and you'll find some serenity.
10 years trading futures here. Never less then 150K and have a family to support. Not sure what the future holds, but I expect my consistency to continue. I diversify a portion of the profits each year, just in case.
"There is no self actualization through making money. Accept that and you'll find some serenity." Every once in a while, you get a gem after sifting through all of the dirt on ET - words of wisdom Captain
exactly. free mentors are worth usually about what you pay for them. also, trading is NOT easy. it is deceptively easy to press buttons but trading is difficult. anybody who tells you otherwise is wrong.
You posted at 11:20, the ES had only traded a few points either way. You should only be trading 1 contract until you are consistant. Were you trading 5+ contracts? Start small.
Yeah, we've been offered a lot for this domain name. It's mine, yep. stocktrading.com Account: 22841xxx Account Holder: Bright Trading, Inc. Bright Trading, Inc. 4850 Harrison Drive Las Vegas, NV 89121 US Phone: 702.739.1393 Fax: NIC Handle: MEEIXGJHGO Primary Contact: Don Bright (you) Don Bright (you) 4850 Harrison Drive Las Vegas, NV 89121 US Phone: 702.739.1393 Fax: NIC Handle: QXVTJMCWQI Billing Information: Don Bright
Domains are a mystery. I had a portfolio of domains. Some sold for $80 and some that seemed more attractive didn't sell at all. Just a few weeks ago I had one that I thought had little appeal get bought for $500. I've just been letting most of them expire since their value is little to me. The novelty of owning domains is funny though. Stocktrading.com is a good one.