I think that there is a flip side to this though, and that is that the successful trader (Person too) is ALWAYS learning and wanting to learn more. The thing is that most people think they can buy the knowledge in the markets from someone else, and the truth is that beyond the basics the only investment required, or that is effective is YOUR TIME.
I belive the number one characteristic of a successful trader is discipline. I have been trading for about 7 months now, I am having a trying time, but I love this job. Mastering my emotions, faults, fears of the trade, have been the most difficult thing to overcome. I have made much progress in the past few months, but I have yet to reach the level of discipline I believe is needed to become seriously successful at trading. I think having the discilpine to know when to stay out of the market is just as important to know when to get in.
A successfult trader does not have many posts and does not spend much time on ET. He is usually busy making money
Not all traders trade Forex. There are some who are bored between tests. Unless you're telling me how to live my life...
I don't think that there are a lot of people on ET who make a lot of money. There are a lot of people who want to, there are a lot of people who make good money, but not many people who make a lot of money. I don't know if this means anything to anyone, but I've known EricP for about 9 or 10 years now. I can remember when he was making several hundred dollars a day, back when I actually made more then him , which is not even close to the case now. Eric's story is one that I think could be an inspiration to a lot of people on ET since it's very close to the story of a lot of people on ET. He's just a regular guy with a family who's done very well in the market. I think he was an engineer before he got into the financial markets and he looked at trading as something that could give him the freedom he wanted. He's had the same struggles and the same triumphs that others go through, but he is "every man" who has made it. He did not come to the markets with any great advantage or even any contacts at all. He got screwed over by some "guru's" and dirtbags just like most of you have. In spite of that he hung in there and has become very successful. Not only has he become successful, he's a guy that deserves all of it he gets and more, because he is one of the nicest PERSONs I've ever had the pleasure to meet in my life. He is generous with his knowledge etc etc. I'm rambling, but I hope that the thread can get back to being what he wanted it to be, because he is one of the rare people here who is worth listening too.
Wow... So EricP is a saint? Which church? Does that really matter? No matter what the background of the person, If a person steals... he's a thief. If a person kills... he's a murderer. Posting a series of moronic post is still moronic. Oh... this is another... "emotional bias" stuff?
I thought this thread was about a bunch of neurotic newbs, praising psychology as a religion over skills. No one seems to actually post a rebuttal to my posts, and just continue to bash me personally calling me names (which is actually fine)... ???? What did I miss?
<i>"What did I miss?"</i> Here's what you missed. This entire forum is for the most part a toxic waste dump... polluted by losers and posers who feel the need (insecurity) to trash threads whenever possible. Every now & then a legitimate trader musters the energy to create an interesting, informative thread. In this case it's EricP, a trader who has walked his talk in the P&L threads. When you get a chance, click thru there and check out his all-time best day recorded earlier this year. That's the type of legitimacy which earns our respect. Compare his start date and post count to yours. See the difference? When the OP decides to share something in here, the rest of us are interested. When you decide to spout juvenile drivel, we ain't interested. See the difference? Proven trader versus whiny wannabe. With all due respect, please stay out of this thread. That's what you missed. The only newbie in this thread is you. The rest of us can prove we made money yesterday, we'll happily prove that again today (if need be) and tomorrow, too. For the record, I disagree with about half of what the OP states as his beliefs. But ya know what? Maybe that's why I haven't (yet) logged a +$1 mil profit day. Perhaps there is something I need to be more open about. Others here feel the same way. If you have logged a $1mil profit day in your past, please prove it and you'll merit our attention. If not, shut the (hell) up and leave this thread alone. There's plenty of other trash threads in here that need your attention. About 98% of all content, for that matter. Their waiting for you... now leave the serious traders in here alone to talk grown-up stuff. It's still over your head.
1. I've been in ET as long as he has. I had one other alias, "WDGann". I figured that the alias I didn't reflect how I trade, and I was getting PMs regarding Gann Analysis, which I abandoned long time ago, so I changed my alias to what I have now. Had Baron or his assistant at the time (forgot his alias in ET... was it Alan???) to demolish it out. I'm actually an old school poster. 2. Until a few years ago, or until I had compliance on my ass, I was posting my trades live in the Chat during market hours. Of course that doesn't say much but made a few good friends from ET, from that. Obviously, Baron thought that I quit trading because I quit posting. He now knows, I didn't post for a reason. (It was sad when came back after my gig, on the chat when he said, "I've heard you quit trading." 3. I know about psychology, at least, more than what you perceive to think. Starting from Freud, Lacan, going through Douglass (went to his seminar), Van Tharp (I actually paid for his full course, and met him in person... had dinner once)... I've paid my dues. After all that, from experience, it was a waste of time. I started trading well when I started obsessing about "strategy" and "skills". I've never looked back since. I worked hard trying to trading the market, not myself. 2 different things. 4. Though, it's only my opinion. I think I'm the only person who's posted in here so far that has actually taken some time to read and think about what EricP posted. You've already had a bias in you from his posts from other threads. I don't have that bias. I saw bullshit so I let people know. Again, I'm a skeptic. An immature mouthed one, that's for sure. Unlike all you guys who can't look past your "emotions" and my tone in this thread. You guys must be a good bait for a sales guy. "He seems nice, so I believe him" kinda BS. So why don't you actually start a discussion by telling me how my content of the posts I've made are wrong. I think I've helped this thread. I've posted points that counter-thesis-es, EricP's post. C'mon, I've given you guys an opportunity to make your statements more concrete. So let's have a discussion.... Bring it on... back yourselves up.