How much did you spend before you became a consistently successful trader?

Discussion in 'Trading' started by InTheZone, Mar 18, 2002.

  1. How much did you spend in terms of:

    A. Time - How long did it take before you became consistently profitable?

    B. Lost capital - How much capital did you lose before you figured it out?

    C. Educational materials - How much money did you spend on books, courses, seminars, etc.?

    ... before you became a consistently successful trader?

    I thought the results might be interesting.

    -- ITZ
     
  2. C2C

    C2C

    Hello ITZ


    A 4 months
    B 2600 Euros in stocks/ about 400 in Deriv.
    C 0 (I helped a trader to become proficient with Visual Basic and in turn he taught me how to trade).


    C2
     
  3. 2 years , $10,000, $1,000 worth of books/materials etc.
     
  4. I did ok to begin with, but when the bull turned into a bear, i lost money... but i had made so much in the bull market, that my losses were no big deal... if i had started trading in the bear, i could have gotten wiped out, cos in the bull market, i could take crazy risks and not get stopped out...

     
  5. i had the good fortune of starting out in commodities (no stocks), and i had to deal with the worst markets for commodities in the past thirty years. i got beat to a pulp and slammed to the mat more times than i could count.

    in the long run i think this will be an edge for me as i earned my stripes in the most difficult market conditions possible, everything after feels like a cake walk in comparison, and the stocks i am trading now feel like child's play.
     
  6. 3 months,

    $1800 on a $15,000 account was my initial drawdown, mainly due to one overnight hit during the second week bigger than anything I have taken since. Recovered this drawdown within 3 months and been net positive ever since. However, it was 7 months before I started to make consistant profits.

    $0 for books related to short-term on-line trading, although I have a few books on the markets in general picked up over the years. I have also read scores of books on investing and trading through my local library. I did all my preparation for on-line short-term trading using free resources on the internet. However, this and other preparatory work represented an investment of several hundred hours.
     
  7. Brandonf

    Brandonf ET Sponsor

    I had a similar experiance (started in commodities) and got killed. It saved my bacon in 2000/2001 though. It took me two and a half years and $16,000 and a lot of sleepless nights.

    Brandon
     
  8. amunateg

    amunateg

    like most people, i made money during the bull dayz without much methodology (cmgi, amzn...)

    it is only when it got painful that i started trading seriously. however sad, but that was my main motivator - stopping the hemorrhaging! it took me about 6 months to develop some consistency.

    also like many, i bought a buttload of books (probably around 5K). but i honestly think that the most valuable stuff i learned has come from the web at no cost.
     
  9. 6 mos.
    13k lost in the first 3 mos.
    about 3k in books, computers, online periodicals in those first 6 mos.
     
  10. If you aren't stubborn, and can come into this with an open mind...., have some discipline and dedication.
     
    #10     Mar 18, 2002