Can an average guy make a living at trading?

Absolutely. But you may be overestimating the degree of discipline and control you possess. Finding this out should be one of the purposes of a journal.

 

Don't kid yourself into believing the hollywood crap. It's a chicken and egg problem.

Do you have good psychology because you have an idea that works and therefore execute confidently?

If your expentancy is negative, you can stand on your head and hold a copy of Tharp's book on each hand and you still will be a losing trader.

When you swing the bat at a ball, the whole body swings with it, down to your toes.

nitro

 

No, an average guy will not be able to make a living at trading. Do not be average.

 

Nitro,

Please say that again. Im so sick of hearing this
"it's mostly pyschological...." blah blah blah CRAP.

The fact is, the average person cannot even develop
a SINGLE working idea that has a positive expectancy.

Leave the psychology mumbo jumbo aside and FIRST
develop something that actually makes money.

If you can even get this far, your WAAAAAY ahead of
the average guy. Then and only then worry yourself
about the psychology.

This is the SECOND part of your long battle. First
things first. Cross the positive expectancy bridge
FIRST, then cross the second psychological bridge
with practice and SMALL size.


peace

axeman

 

Obviously you need to know the setups before you trade...

 

As over 95% traders (disregarding those who have already giving up after trying/losing) cannot make reasonable money confidently could be true, an "average" guy who is able to make enough money for a living through trading must be one of the top 5% traders. Do we call this trader "average"?

 

An "average" guy is not an average trader.

A smart, detrmined proficient guy can become a trader (average?), and with additional hard work even a good trader.

TM Trader

 

Then how many grades of traders should be generally classified in this trading profession?

 

Maybe www.elitetrader.com should organise an association of traders by offering different grades to traders!



Perhaps this suggestion should be discussed with a separate thread.

 

There is only one way - do you support yourself STRICTLY thru the profits you extract from the markets? It does not matter whether you make $10,000/Y, $75,000/Y, $250,000/Y, or $1,000,000/Y. The first one is a "poor" (as defined by the government) trader. The second is a blue collar trader, the third a whilte collar trader, and the last a DAMN GOOD TRADER.

nitro