There is nothing worse than a reformed: Smoker Drinker As their zealotry becomes unbearable. I would add you and Trader, as you anoint yourself Savior of the downtrodden , saving them from themselves. Talk about arrogant, and demeaning the intelligence of those who seek to try for themselves. Take you Messaih act elsewhere. No one is interested.
No disrespect, but shouldn't you be working instead of posting here? How do you plan to move up the corporate ladder if you spend your work hours posting here? I mean if you've decided that the trading is not for you, why not go all out on what you are currently doing and try to make a good career out of it?
Ripley, You have my vote for being the funniest poster on ET. Please do stick around and keep posting. Happy to hear that you have found work that is more in line with your calling. EDIT: Once you have replenished your grubstake, I think you'll be back. You can leave the market - the market won't leave you.
rip, u r 100% correct well almost......most will fail and never recoup their trading losses.......especailly emini or commodities...fact of life.......but one can succeed.......one out of 100.......individual traders don't have much of a chance......it all depends on their tenacity .......if they can give up or enjoy about 3 to 5 yrs of woriking at it they have a shot at it........i enjoy mine to this day and ecach moment now.......would not advise anyone to step into this unless they have some common sense .....the smarter u r the harder u fall........it is not about knowledge, it is about a good system about 80% min and gaining control of the emotions......especailly the last one........a good job is the best asset one can have........financially speaking.......except for the very few.........i wish u the best ripley.....porgie
It took me over 5 years to get this game. I refused to understand that your opponent is your own self. I had every rational reason to explain this away. I couldn't accept that I indeed was my own worst enemy. Granted, you need a trading methodology that works, but many are available. I talk to people every day that make money from the markets, quietly, at home, day in and day out. And, I talk to many more who are convinced it's impossible. There is a place for everyone
getting rich....rebuilding the stake.......all the wrong thinking there........have a goal .......if u can't make money within 5 years stop ......and leave the business.....it's not for you.........i mean make a lot of money...unless u do it for entertainment and a hobby which is nobody's business but yours and and those who depend o n you........it is fun as long as account doesn't go down down and splat......the deal is everyone has their reasons for doing this stuff.........and it is not others' business if they lose or gain..... it can be done.......don't expect overnight success....it ain't going to happen.....if it does that is the worst thing to happen to you........you get trapped into thinking you have genius for this stuff.......only luck and will take eons to get the ego back where it belongs.......in the garbage can......
You are almost correct when it comes to futures. I guarantee you that it is not true for equities. As to futures, while the edges are far more complex to find, I assure you that it is not luck that makes one futures trader profitable and another not. Sadly, I realize that this post and every single post on this thread is meaningless because you only understand when you understand, and not before. Understanding is not incremental [as far as the higher cortex is concerned], it just all of a sudden happens one day and then the cloud lifts [study the way the brain forms an image of a dog, from the time the light strikes the retina to the time the entire mind forms the image - it is similar to the steps required to forming a profitable trading strategy. Be able to give an exact description of what happens.] The first "trade" that you have to make when you come on ET is to know how to filter the crap out. You have not done that yet, and may never. I have looked at every single post in this thread as an experiment to see if I would have found anything of importance when I was not a profitable futures trader. I found none except Dustins posts, which are worth their weight in gold. Then I went back and reread the thread to see if any posts are helpful as a profitable futures trader, and I found very few. Here they are: And finally, in an ironic twist, the most important post in the whole thread: But you don't know what that means on a personal level because those posts are meaningless until they are not. Instead of a mathematical level, give another definition for the word probability on a personal level. What is it that probability means psychologically? What does it instill in you? That will tie the mathematical with the personal. It is critical because it is when you know that trading becomes like getting a paycheck at a job. So, in summary, my post is worthless too. It's only worth is that it points out the two or three posts that were actually helpful in this thread. You see, ET is a kind of training ground for trading. You see a lot of mumbo jumbo that is mostly noise trading with zero edge. That is 98% of the posts on ET or on this thread. Then poof, a posts or a trade comes by that contains information content, or in trading parlance, the market is giving up edge. When you first came on ET, I almost immediately put you on ignore because you were part of the noise. I just took you off ignore because you are on the line now between being a waste of time, and not. nitro