The dream of becoming a million dollar trader. How do I become a million dollar trader???? How do the million dollar traders get there? What are they doing differently?? I guess before you can become a million dollar trader you have to be a $1000, $10,000, $100,000 trader first, but I am interested in the whole metamorphosis of a select few traders that have made it at those levels. Why do I want to know?? Well because I want to be one of them. Success leaves clues. Just the thought of making it to the million dollar club makes me tingle all over. The harsh reality is, to be a $100,000 trader is hard enough, let alone a million dollar one, but everything starts with a dream. IF YOU CAN DREAM IT YOU CAN MAKE IT HAPPEN. But the question is do you dare to dream?? Do you dare to challenge yourself to take your trading to the next level?? Now that is a million dollar question.
[disclaimer - I am not a million dollar trader ] From what I have seen, and from the little that I have been able to discern, the key is trading size. These people are not intimidated by trading large size. I have seen traders with an edge trade their way up to larger and larger size. At some point though, something about the ticks up/down and the way it affects their PL and account _REALLY_ scares and freezes them. They go back to trading 2000 shares, and stay there. I have also seen traders, that, in the morning, they will make a decent amount of money, then go home. Other than _MAYBE_ dead zone, these million dollar guys [gals ] are working the market the whole day. Therefore, IMHO, to be a monster trader, its all about Psychology (or lack of it ) [please note, _ONCE_YOU_HAVE_AN_EDGE_] I have promised myself, when the time comes, not to get too comfortable with any particular size. nitro
I cant even imagine that kind of trading. I'm trading one mini contract and find it pretty exciting. When it becomes boring I will move up to two contracts until it becomes boring and so on ad infintum. I hope.
Easyrider, "Ad infinitum" you say, well, that won't happen, there is a limit on the amount of contracts to be traded. The last weeks the average size at the Best bid or offer has been around 70 contracts....