Please tell me how to become an equity trader. I spent a ton of time on futures, failed miserably. Actually it wasn't all that dramatic. Just coin flip trading at best. I've been had by a guru. Yes, I've learned about patterns, patterns that have a minuscule edge at best only to be wiped away with trading costs and the occasional mistake. Whats the proper road? Start me on the right road.
Those heroes from the glory days of trading are long gone from here Why don't you join a prop firm that has training? That's the only way to learn what is actually working now. Hanging around here listening to glory days TA trading and price action delusions that may have worked once upon a time will get you nowhere. If you need a hint on where to look-- try WTS boston office--they just launched remote. surf
How is joining a prop trading firm going to change a losing trader into a winning trader? Go do some work and quit whining about sucking. Find a way to make your winners bigger than your losers.
You said it yourself, you can't overcome trading costs. Welcome to the world of trading where the broker always wins(comish) Find a product with a nice daily range relative to spread,comish. if you're into intra-day trading. Otherwise just stick to daily and weekly time frames and your costs shouldn't be a bother. I think Richard Dennis said that he was only profitable due in large part to his reduced trading costs relative to retail. I agree it's not easy intraday and there are only a select few who are profitable on that level , having a plan robust enough to beat costs is essential if you are attempting intraday. just my two ticks
yes, deposit style w/license prop trading im looking for advice on pitfalls or just overall advice on what to avoid, how NOT TO WASTE TIME, what I should be doing, what I should not be doing, things of that nature. Basically, how to work smarter, and again, not waste precious time and resources. I listened to the people that told me they go months without a loss trading 1 security and it has gotten me nowhere while trying to perfect the imperfect able. So i would just like to hear from real people, really trading, with nothing to sell and no chat rooms and all this nonsense. Just straight reality. What is realistic, whats not, etc.
what are you confused about after 8 years and what do you know,trade what you know, sit when you don't..coin flip trading sound's like trading the small pic while not knowing what the big picture is
Have you considered that you may have been trading a time frame that you are unsuited to? I can't day trade. Recognising and accepting that is far and away the most important thing I've learnt about trading.
i dont buy any of that. i dont cook much and may not be suited for it but if someone showed me how to cook a chicken cordon bleu, i could do it after a couple tries.
Which begs the question why then having spent a ton of time you have failed miserably? Your words, not mine.