I have watched so many traders wash out within their first year of trading over the least year. Most quit, but some got "disassociated." I would estimate (very roughly) that 40% of people who started a year ago stayed through their first year, although of those that stayed past a year, many still have not made a dime (and some others have made only a small amount). Of course, there are the rare gem traders.
Are you saying that my team leader at Worldco would lie to me by saying everyone is doing fine. And my strugling is just me.
It really hasn't been any secret that many traders have been struggling everywhere, though the past six weeks have been gravy for many.
I had a great last few weeks But that day the dow ripped 400 + points I got smoked. I felt like I was a rape victim. Did you send me a private message I see it but it won't open. At Worldco I can't get an answer on how everyone else is doing, hell I can't even get my account info.
I am still at Worldco. There are many reasons why "winners" (which, defined as the people who can make a great deal of money and relatively quickly, I am not one) make it. Of course, the following, while the core truth of successful trading, are necessarily general and have been covered through this site and in books ad nauseum (sp?). They are as follows: Working Hard Working hard always helps, but there are people who work extraordinarily hard and still haven't made a dime, while there are people who have not worked all that hard (come in at 9am, leave at 4:30 or so, if that) and become top traders rather quickly. Even some good traders who come in early say they mainly do it to relax ahead of the open, rather than to research hard. Discipline Good traders must have discipline. Natural Aptitude Very important obviously Good Mentoring This can help a great deal, especially in shortening the learning curve. However, there are top traders who learned very quickly while receiveing almost no mentoring, and there are many, many unprofitable traders who have received endless mentoring from great traders. Good Market You don't even need a great market to make very good money if you are a good trader. But a good trader who might make only $50,000 or $100,000 in a very bad market might make several times that in a good (not even great) market. This year (excluding July) has been a very bad market (that doesn't mean that before July there weren't very exceptional traders who had made hundreds of thousands already this year). Right Attitude/Psychology This, along with natural aptitude and discipline comprise the most important characteristics of a "winner." Because trading is so much an art as well as a science, one's psychology, tendencies and attitudes (much of which we aren't even aware of and have difficulty controlling when we are aware) are so very powerful. One must be capable of being aggressive in order to take the necessary calculated risks, at the right time, if said trader is to make good money, yet he or she must avoid letting greed play a role in their decisions. A trader must be able to cut their losses, yet he or she must not "trade scaredd," which causes someone to get shaken out to easily, miss moves and get churned to death. All of this is still easier said than done, as most already know. Have you been trading this year dotslashfuture? If so, how has it been going? Good luck next week!
Are you a trader in tampa I trampa. I trade at a firm in tampa but not worldco. who are you currently trading with