any Tampa worldco traders here?

qwiktrade · Jul 27, 2002

Trader Fl.. where do you trade? Sunstate trading? i think i saw their adds on tv last time i was vacationing in Clearwater..

-qwik

TraderFL · Jul 27, 2002

Protrader

LowestBid · Jul 28, 2002

Originally posted by I Missed Boat

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!
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Very well said. I've been at Worldco two months and having a great time. I disagree with one thing though: discipline should be at the top of your list. What separates the good and bad traders is the ability to be patient and wait for good trades, don't overtrade, and cut losses quickly.

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any Tampa worldco traders here?

qwiktrade

TraderFL

LowestBid