OP hear me I am known as a lunatic here, yet I am the smartest fuk around here so let me level with you you need 3-6 years before you are ready I am not lying to you man that is a god honest truth
Tough break 65, I hope things get better for you. Hopefully anything I post will be helpful to you but don`t have too much to offer as I am just breaking into this field myself. I pondered trading as a profession for several years . Although I did dabble a bit as a hobby in 01' and didn`t do to well. I read a few books and opened small account with one of those 7$ brokerages. The worst thing happened, I made a few "lucky trades" and I was hooked. It was all downhill from there. I eventually lost about 4K. Hows the saying go...."A fool and his money..........." I have a very physical job and I am getting too old to enjoy it anymore so have made the decision to begin my education in trading, only this time be much more patient about it. I`m still not sure if I have what it takes to be a successful trader. I`m pretty sure that I have the ability to learn the techniques, it`s the emotional mindset that is in question. Is that something that can be learned? or, Is it something that you either have it or you don`t. I`m not sure. I have been self employed for several years and doubt if I could ever go back to a punch the clock job. I also don`t want a ceiling on my income.I handle loss pretty well as it relates to business and have had my share of sucesses. I tend to thrive on the "thrill of victory, and th agony of defeat" Not sure if this is good or bad. One thing is for sure, I am intimidated enough by the stigma (get rich quick pipe dream) associated with this profession, and the fact that it kicked my ass a few years back, to be extremely cautious. And it begs some serious questions that i have to ask myself. I am also convinced that there is such a thing as a mid income, consistently profitable trader who found success by working hard and being dedicated. From what I have heard and read about, combined with plain conventional wisdom (what little I have) is that this business is no different than any other. A good business plan, alot of training and experience,good mentoring,persistance,hard work, proven technique,emotional maturity,and a burning desire to succeed is what is necessary.If I`m right, maybe you will hear me gloating on this sight a few years from now. I`f I`m wrong, I can only hope my losses end up as profits in the accounts of the kind gentlemen on this site and others who genuinely try to help those that are new and struggling.
guess what guess freakin what there are people on this site who will actually try to mislead you if you show that you are close to getting it I kid you not, few successful guys on this site are like that truly sad if you ask me
Searay... Your initial post sounds like I could have written it myself, with the exception of the experience in '01. Very physical job that has left me going to the Chriropractor three times a month plus, and haven't found a surgeon I trust yet. apak... Thanks for your input. I am taking most things with a grain of salt until I see the same things said by several different people.
This is extremely important IMHO. Why? As traders we must extract a percentage from the market, over time, from many many trades (bets). The parallels to beatable (positive expectation) casino games are strong. There will be lots of in-a-row losers and bad beats that will want to shake up your faith and test your money management. But over time, if you have a positive expectation method, you will win. Good luck.