Discussion in 'Professional Trading' started by Cin, Nov 3, 2008.
Look at this blog. Might help some.
Want my advice? Don't waste your time!!!
I am 18 years old and have made tons of money in the process but I feel like I am 48 years old (still can't buy beer though for some reason haha).
This business is not for the faint of heart. You have to give it 110% all the time and as soon as you back down they take your money and they take it fast! You must spend every waking moment working on the markets. Sleep doesn't come easy either as most of the time you can't get to sleep because your mind is constantly thinking about the markets.
This is a place where you are literally matching wits against some of the brightest people in the world. You are competing against people with Harvard MBAs as well as people that barely graduated high school. These people come from all walks of life and have only a handful of things in common. The desire to make money and make it fast, being able to dissect information and make a split second decision on that information that was presented, run on little or no sleep, and do not let emotions interfear with their decision making.
Some might disagree with what I have wrote here but im sure the majority will say that this is a very true statement.
Good luck to you
I'll check it out T-bone Trader, thanks.
Youngtrader, I'm 50 already so maybe trading will make me feel younger!
I understand what you're saying and I fully expect that I would have to be very disciplined about resting and taking some personal time. I appreciate the feedback.
You Sir are wise beyond your years.
There is extremely valuable advice on ET. But you must search for it. It is like sifting for gold nuggets, but if you search you will find valuable pieces of information. Try to find out who is profitable on ET and then read all of their posts. Be very careful who you take advice from on ET. I personally don't even read comments from people who have registered in 2008 and 2007. They could have valuable things to say but 99% of it is a waste of time. Look for the experienced players on this forum. The quality of ET has deteriorated over the last few years IMO but use the search feature and try to dig up old threads.
I agree that the brightest minds get the best results but that doesnt mean they are the ones working the hardest. Considering that best results doesn't necessarily mean the most money. You will never be able to master the markets if you dont arrive at the standpoint that money is not more than a byproduct. Being not well rested due to a lack of sleep for example might make you feel giving 100% determination but the truth is that your efficiency is going rapidly down by maintaining such an obsession. You can trade for a living but you must not live for trading. In order to function and react properly in the markets you need energy from other sources in life.
this is not true at all, complete nonsense
after a comes b then C then D
you didn't do your homework, trading is effortless
Listen to me Cin guy. You are old for the market, I'll be honest with you, you are old
energy required to "figure" out the market is enormous
I for example almost lost my mind, but managed to pull because I started at age of 23
You need to ask yourself are you the kind of guy who is aware of your own thought process
OR DO YOU SIMPLY THINK WITHOUT THINKING ABOUT THINKING
good luck bud
PS: find a good online IQ test, from a good university and see where you stand
What's nonsense? I believe you straight away that you have lost your mind, what I am not so sure about is whether you ever found it again. No need to offense if you can just see your own hard way of walking. If you started with 23 you sound like 25 now.
aaaalllright I see I need to demonstrate on ET my intellectual superiority once again
post you made, you basically in it stated that a man needs rest and relaxation in order to make good decisions in the market
in other words you are one of those discretionary traders that seeks good entry points
thus if you are tired or been drinking, you can't make sense of support and resistance ...........RIGHT
well the reason you have a lot to learn from me is I am mechanical trader
I can trade drunk (not that I drink )
I am sure I could learn from you as from anybody else. Thingy is that the OP cannot learn anything from you. You say with 50 one is to old to learn trading contradicting yourself when claiming that your superior intellect enables yourself to trade R/S levels when you are drunk. A sign of ignorance from your side is that you just quote a line of my statement on purpose to disqualify all what I said. Seriously your post is nonsense and lets me suspect that mummy just released you from hugging after a strong nipple suck.
Please excuse me for now but I am going to fill my battery on the beach
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