Same here and then you get these chaps who worked for seven years, had salaries, paid benefits, etc. and they expect you to just hand them over 7 years of your blood, sweat, and tears. They expect someone who had the balls and courage to risk it all and put everything on the line to just hand over 7 years and kindly give them what works. not!
What is the answer to this question? How many times have you tried? Answer A: About 10 times. Answer B: About 10,000 times, for real. I wonder who is more likely to succeed?
================= Re;7 years Not sure what you mean by lucky; but your hours sound about right,72 hours x 6 daysweek, here, approximately. I counted ET posting as work also; fun work but work . Chicago trader William Eng said ''smarter you are ,the longer it takes
Two ways to look at this: Number of hours spent studying/reasearching AND experiencing live price action. VS. Number of hours experiencing live price action. Averaging five hours a day of live price action yields a total of approximately 1250 hours per year. Which means eight years to the 10,000 hour mark.
*********** Hey fellas, I've calculated how many hours I have trading (watching the hourly chart & trading). Seems like it comes to approximately 10,000 hours. I trade future for myself & others at this stage & may likely start a CTA in the next few months. TO be fair, I got my ass kicked my first 18-months of trading. There are certain lessons you MUST learn for yourself. I agree with the premise that it takes up to 10,000 hours of intense study to finally understand something. Many of you might be wondering what I've learned in 10,000 hours. Here goes: Any market moves only with respect to its supports & resistances. These can be determined by drawing straight lines; sometimes horizontal, sometimes diagonal. Nothing else works, unless you're doing some sort of arbitrage or spreading (better make sure you know what you're doing!). For those of you aspiring to make a living in this industry on a full-time basis, begin racking up the hours watching the hourly chart. Look for levels at which the market reverses. Put your "crosshairs" on and draw S/R lines. You'll see what I"m talking about. I promise.
I started in '96 without a clue really what the internet would bring but had a $400 a month BMI cable data feed, Omega Supercharts and a telephone. LOL that's Tradestation before all the back testing crap and Esignal before the internet. I still find trading very challenging but what I will say is that I'm tougher, more apathetic, and more adaptive. Am I a master? If I were an engineer or drove a bulldozer I'd say I was. I've had some good runs as a trader but honestly I sit at my station every morning without a clue as to what's going to unfold I only know I'm going to respond a certain way to where price is and what it does. Sometimes it works and sometimes it don't. And sometime the market may start acting in a way that blows me out, so I count my lucky stars. What's the saying, "There are old traders and bold traders, but no old bold traders" Be humble LOL.