Completely true. It's too bad that this kind of realisation often only happens you that's all you have. I was completely superficial and materialistic when I was 19-20, and over the last few years have grown to realise how little it all actually meant to me.
Get a job during the evening as a busboy or waiter, and build up your capital during the day ... you should be able to paint a very different picture in 6 months.
lol Im not foolish mate, i tried/stil am trying for over 1,000 jobs now. But with 16 people applying for every basic job the competition is very tough. I dont even want to trade for a career tbh, since i dont even like the act of trading. I only do it now cos im good at it, and so its the only legal way i can earn enough money to keep getting by. As soon as i get the career i actually want, working in the police, i wont have to ever trade again if i dont want to.
you can trade... but your not better than 16 people to clean a table bussing? or fill a beer and hand it to someone? count some change out? it may be your success and connection to money that makes you unable to find work. no one wants a better then every one else busser.. or a on their high horse walmart greeter.... "hi welcome to walmart.. glad to see you mad it here with all your teeth B.o. spray is on aisle 4" i just say this because one day the market will humble u trading the way u do... there is no doubt.. 90% a month.... every month... if you think u can honestly do that and never fail then i think u need to seek mental help.. thats over 2200% a year and you would be turning 1k into 2.3 million every year... some of the best traders i know that have been trading for years cant do over 200%.. i mean maybe if they went balls to the walls... but i mean if you can .... congrats ur in the 5% of traders who can trade and the top 1% of those 5% at 19 when theyve been trading for 20 or so years. should publish a work.. maybe medal quality...
Trading may or may not be for you, but trading when you're properly captilised is completely different to barely having enough to make the rent. You might find it's different if you had 50k or so. Nukethewhales, 200% is extremely achievable with a shorterm strategy, and it's far from balls to the wall. I would guess that the best traders you have seen aren't really shorterm traders. Well, you're certainly not modest! You didn't prove anything. Turning 1k into 30k within 6 months means there was a lot of risk and luck. How many trades did you make in that time, and what was the average risk? I would bet that you made maybe a couple a day and that the risk was quite high, say 5%. Yes, I'm guessing, but I doubt those results were achieved making 5-10 trades a day at 1% or less risk per trade. But you are doing just that. You think you can do it, when the fact is that you haven't proven it to be true. Yes you have done it once, but it's most likely that no matter how skillful you were, it was achieved with much luck and great risk. I'm not saying you're a bad trader (although you arguably are if you don't understand sensible capital managment or variance), but you can't just assume good results make you a good trader.
lol Mate im not 'on my high horse' as you put it... I would be very good at stacking shelves of whatever job is that was teh job i had to do to make money, just liek i made myself evry good at trading while this is my job. However no-where else offers teh chance for me to show them how good/crap i would be, and so i just stick ot being self employed and trading till i manage to get a more stable income. And im not sure why you are another person saying what you think i cant do, without actually looking at all at how i have and do perform on a dialy basis, before making comments about my ability. Everyone on t2w made that same mistake early last year all saying that i was gna lose my £700 in days. Instead over the next 6months i generated over £30,000 profit from that. (roughly 4,000% in 6months) And it wasnt from load sn loads of bad days n weeks, and the just 1 odd random lucky trade that made up for all the crappy 1s! I generated significant profit from the account everyday, of every week. (Had maybe 2 t 3losing days per month, and kept losses manageable on those days) And i dont compound my capital though mate. I withdraw every week, often 2x during the week. So thats why i have consistently/am still/and ''have to'' keep generating over 90% per month, then withdrawing it all n redoing the same the next month. And the overall capital will always stay at roughly the same level though. Im not here to prove anything to anyone though, i finised proving all i needed to back last summer. I merely started this thread as i was curious about how much other trades could manage to survive with. And ive repeatedly shown though that im not another 1 of those pepople who goes round making wild claims though about what i think i could do. I merely do what i have to do to stay avoiding homelessness and with some food to eat everyday, and then back myself up with my returns when challenged.
Thank you spanish you are actually being very honest. the sad truth is even people who get successful and consistent at trading can only make 200-300 $ a day in the absolute long run. most people cannot believe this. it is much better to get a real job, work thru the ranks and lead a happy life
Aloha mate, yea if i did have alot of money life would be very different, and so my attitude to trading would be different, as i could then make more risky trades to play around n speculate abit more. However its not the risk side of trading taht i dislike, its more just that i only like trading when theres decent volatility. (Oil Market last year from May t End of year) Lots of fast intraday swings and i have a giant smile on my face all day as i can tear the market to shreads whenever it does that. But the way the market is now and how slow movement is and how elongated trend are, but how slow they take to move in both directions, i now sit at the screen 16hours per day waiting for the perfect entry, often takes 1-2 day now before the entry is there, but so even when i nail that now id then have to sit there for a few hours though lots of consolidations n sideways stuff to get more than 80ticks profit. And im just not interested in that pyschologically as i dont liek having open trades. Do i just take the 60 - 90ticks profit which is hit a few minutes after entry, but then have to wait and watch 16hours pepr day for the enxt few dyas before the next good entry. i got contacted by LiquidCapital group last week though and they have asked if i would be willing to take an assessment test n interview as they are interested in me, so if i get a job with them itd take the financial pressure of me atleast. But i know inside what i want to do for a career (police), and that id like to just trade for fun in days off n stuff.
I keep forgetting this, so my guess of a couple of trades per day is probably pretty off. Actually, I had in mind that the money you're trading becomes worthless and trading feels more like a data entry job. Sounds like you just don't like markets that are less tradeable for you. Maybe time to switch on the tv instead? Trading doesn't have to be sitting at a desk for 16 hours, waiting for trades. I'm rarely working when I'm working .
You need $300k+, preferably $500k+ to make a living. With a 10% yearly return (anything over that is highly speculative, and all lose), you'll get $30k and $50k.