How long did it take for you to become successfull at trading?

Discussion in 'Trading' started by Dominic, Feb 19, 2006.

  1. I am paranoid now :)


     
    #11     Feb 19, 2006
  2. ok this is getting serious...which cereal...(I hope its not where I plaguerize my signals from)


     
    #12     Feb 19, 2006
  3. Dominic

    Dominic

    Maybe you two need to start your own thread...
     
    #13     Feb 19, 2006
  4. bitrend

    bitrend

    So we make sure that we deactivate the Block Popup Windows in our browser in order to receive them.
     
    #14     Feb 19, 2006
  5. News Flash..

    A unidentified fellow backed his 1990 Plymouth Voy....sim wood -grain...into the safeway grocery store plate glass window, that was closed for remodeling....and emptied the cereal isle...

    If anybody has any information in regards to this theft, please contact the Police in Metro Denver Colorado...at (800) go-cereal
     
    #15     Feb 19, 2006
  6. Actually Dominic is right. We shouldnt be playing here.

    Ok then Dominic, it took me about three years.

    Good luck

    Steve
     
    #16     Feb 19, 2006
  7. pbw

    pbw

    Domenic asked some important questions which I would really like to hear some good responses myself. I am a newbie, first year in trading --with a lot to learn ahead...
     
    #17     Feb 20, 2006
  8. I have seen this question asked about
    2 times per week.


    At first it was a good question

    then after the 57th time in 3 months it was asked, now I think well

    no comment.
     
    #18     Feb 20, 2006
  9. 1000

    1000

    1. It took me 5 years to become successful at trading. It would have taken me about 6 months had I been in the trading pits, or on a trading floor, it would have been worth the cost of relocation, and all the hasel that goes with learning how to trade. Eg. for indices you must be at the CME, for options at the CBOE, for products at the NYMEX or CBOT, and not 6000 miles away, because you will otherwise not know what it takes to succeed as a trader.

    2. The trick is in knowing how much money you want to make, and how much risk you can take, i.e. set clear goals before starting, and know when you must exit.

    3. It is best to work for a trading firm and be employed in the financial business, inorder to get the best set up and know what to avoid, and to know what moves the markets and by how much. Often it may be a question of seconds.

    4. Also you need a constant news feed, otherwise you will just be guessing the direction of the market.

    5. Education is key, read about everything on the subject first, and don't be afraid to ask. Just ask, no one is going to bite.

    6. Don't stick around with a bad trading firm, if you feel they are not helpful, drop them, they don't deserve your business. A firm may be good at one time, but may get worse or better, because of management changes. Be prepared to move on.

    8. Stick to one market and master it. The mistake I made was trading more than one market, and then moving on to another. Just be disciplined and always stick to one, even if it decides not to do much for a few months, stay with it.
     
    #19     Feb 20, 2006