Sometimes I wonder just what the hell I am doing here now but if I should ever leave trading either by choice or by misfortune, can I get somehere here to agree to a mercy killing? good god people, there's a damned world out there
I found it just the opposite. When I didn't use stop losses or used enormous disaster stops, I was trading without a true edge and took huge losses. Now that I have a fantastic edge, my stop losses are smaller than ever, sometimes only .05 in the highly volatile oil market.
what a garbage. Trading is as highly positively correlated to successful business as it is to long-term professional poker players. They all share the very same traits and many required properties are identical. How about: Dedication to what you are doing Patience Sometimes eat your loss and move on, there is a new day seize opportunities with edge in size stay away from those who spread negativism Intelligence way above the average crowd practice, practice, practice ability and willingness to learn (from anybody) relationship building abilities able to navigate difficult waters by staying calm ability to seek a balanced live outside of the main profession as well I strongly disagree with everything you listed below: *** the more calls you make the closer you are to success? Hmm, maybe in the US, but in most other parts of the world people think you are full of shix if you open your mouth all the time while only 1 out of 100 words is worth even listening to. And yes you are a lot closer to success in trading by working hard , A LOT CLOSER. In fact you catapult yourself right away into the top 10% of those who pursue trading, now you need to focus on gaining the necessary edge and retain your composure to be part of the 5% that actually makes money. You are a troll, otherwise you would notice that most here on ET ask questions about how they can get a software that searches, tests, and trades ideas all fully automated so they can lie at the beach. Others wine around how they broke their rules for the 1000th time. Those people are lazy and will lose, this is a given not a possibility.
absolutely, but without hard work you fail for sure in ANY business, even as a hooker and pimp. Very simple!!!
To succeed in trading requires many things , hard work and commitment, capital, constantly researching and developing your trading edges , discipline (with your entries,exits and position sizing). Constant hard work, constant research and development, constant discipline. Just like any other buisness, you cant let up otherwise the competition will kill you.
its not that simple..discipline, hard work, looking at charts, keeping on top of the markets are all good things to do but no way that can come close to guaranteeing a successful trading career.. however, it does in any other industry.
No one said it was 'that' simple, the failure rate is high for a reason, just like the failure rate is high for ANY business where the earning potential is so great. If one knows the failure rate is so high, I don't understand why they are so shocked when they become a statistic.
this is not true...Talent plays a huge role and in some cases it is very effortless. You can be a hooker and work day and nigh, but if you dont have the wares and the talent to s**k the golf ball through a hose you may not get as far as someone who tries 1/15th as hard...Just look at Athletes, Celebs and Highly succesful Sales people. This is also true for trading... I understand what you are trying to imply though and I agree to some extent.. Not to mention the thousand other factors that have nothing to do with hard work.