Ohh yess, I am not putting all my hopes and dreams in trading man. No way. Have to continue working and investing for retirement incase trading does not work out. I have full time job, so time is my biggest enemy.
I took the hard route. I let the market teach me. I would have gladly paid someone who was successful show me the ropes; the problem was I couldn't find anyone successful who was willing to teach. If there is a secret, it is to know yourself. Figure out why you do stuff and then find a way to stop doing the stuff that hurts your trading. Only you can answer those questions. I spend a lot of time trying to prove trading strategies don't work. If I can't prove it, maybe it will work.
deaddog, I completely understand, my first 3 years, I tried learning on my own. I am getting there. Yes, that is the risk you take paying someone for knowledge, you just don't know if they successful or not trading besides selling stuff. lol. YOU ARE sooo right about the "know yourself" part. Journaling every day helps. It is really a journal of yourself daily I will another thing I am learning and that is: Be present in the market everyday. Do not take days and weeks off because market conditions change.
Took the long route myself. I am a self-taught trader. Everything I learned on my own including, learning to trade options. Simplifying my trading has improved my trading performance a great deal. Also, less trades but, quality trades improves results. Less stress too because good trading is boring.
You are correct. I don't have a clue about futures and that in futures one can easily make 50% a year every year. I learn something today. Thank you for correcting me. Best to you.
I have found my niche with helps from all you ET'er and I am thankful. I am a skeptic and I am bias so don't take my words as bible. Do what you believe in and hopefully you will find your way. Good luck @SimpleMeLike
It's a realistic question. It's also an issue of timing. I started during the dot-com mania, and I thought I was a genius, and then realized, that I just got super lucky. In all honesty, I do not think I would stand a chance if I were to start as a beginner trader now. The "rabbit hole" has expanded exponentially since I started in 1998. I took a look at YouTube, and it would take you a lifetime to figure out who is for real, since their marketing skills are super advanced. Back in my time, for my first 5 years, I just looked at my fellow traders on the desk, and looked at their screens (P&L). Now, it's a whole new world. I just answered one of these vendors: https://www.elitetrader.com/et/threads/n-a.346802/page-7