***my First Post*** LONG OVER DUE UPDATE!!!!!!

Discussion in 'Professional Trading' started by I Trade 4 Money, Mar 16, 2007.

  1. At least you realised all this quickly. Even though you may be a cut above the rest in every field you have ever endeavoured in, confidence and persistence isn't necessarily rewarded in this game. We're all smarter than 99% of the other people you meet but that really does count for sweet FA in this arena. I'd be happy to believe that a retarded person with a rule sheet in front of them could trade better than a PhD Phycisist with the wrong approach/attitude/emotions.

    However, the problem with this world is that intelligent people are full of doubt whilst the stupid are cocksure about everything.

    Enough of the boring stuff, the thing I learnt which broke the barrier for me in intra-day prop was becoming comfortable doing nothing.

    When you start out, you don't want to miss a single move and you screw things up. When you screw things up, dependent on your character you will either try to trade even more to get it back (very stupid) or become more tentative and shy away from the market (which is also not ideal but better than digging deeper.

    Higher conviction and more patience is the key- hit it hard when you truly believe you are right. Far more efficient as well as being more profitable. You can't manage a trade properly if you aren't totally at ease with the reason why you are in it.
     
    #41     Apr 5, 2007
  2. Thanks. I've been realizing it it recently.
     
    #42     Apr 5, 2007
  3. My opinion, the odds are REALLY STACKED AGAINST YOU where you are currently trading.

    You're better off taking your time, sticking with it and making time your mentor. This game is all about staying alive at the beginning. You're getting juiced in fees and probably not getting anywhere quick.

    It takes time to become a successful trader. Much of the process is self-awareness realization. The keys are within the self and not in a "system" or indicator. They are only tools.

    Stay solvent and keep at it. Reduce your overhead. Approach this like a business. You may have to start out part time until profitable.

    Good Luck, oh yeah, it ain't going to happen overnight or even next month. Give yourself time.
     
    #43     Apr 5, 2007