Has anyone been able to earn a full time income trading? If so how many years have you been doing it? Have you found the experience to be worthwhile?
34 years doing it, full time 17 years In terms of capital appreciation, absolutely, being able to do somewhat easily that most only dream about-OH YEA. But it wasn't an easy road to get here. You end up working a zillion hours, get up it is dark outside and then realise it is still dark outside but 22 hours went by as you are studying and backtesting. You encounter all the most horrible thoughts of inner self and emotions, always doubting your abilities, the 23 losses in a row didn't help, and little by little at some point you are at breakeven, for months, months months, then one day you start thinking, hmmmm been awhile since I have had a losing week, then losing days....then at one point you think-that's it, that's all there is to learning this? And you think back of all the years that have gone by. I have gotten very good at long term and day trading, but if I had to do it all over again, I would have skipped the learning bout day trading, and just stayed with Monthly/weekly long term stocks, for me that is where the biggest money is and small amount of time involved.
I gotta say the biggest chunk of time I wasted was going up the indicator trail. I wish I had a do over there, but otherwise, I think every trader who has made to the end of the journey will parallel your story.
Hi Handle123, Out of curiosity, what software or platform did you use for your trading and backtesting 17 years ago?
Agree. I studied all of the CMT curriculum when I first started a couple of years ago, and now I am not using any indicator. Just price. (peaks/troughs/ S&R)
Now, I do, and it is all because of a vacation that I took. During that time, as I was scraping up pips, I realized that I liked the prestige of being in Allied Health. I liked saying to people that I am a game changer, that I save lives. When you are a trader, you can make a lot of dough, but until you reach a point where you can trade today and by a Porsche tomorrow, it does not resonate with people. If you can, trade your ass off, and keep your job. Trading will isolate you socially. You cannot enjoy life without a real social circle.
I've been a professional trader for a little over 4 years. The journey was immensely rewarding, and I love what I do. I genuinely look forward to Mondays so I can do what I love, and not many people can say that.
How can you have a day job and trade at the same time? I mean both demand your time and attention during regular office hours.