New trader still learning/demo, very lonely, tried to talk to friends about it

tomorton · Jan 30, 2018

Esha.J said:
No its fact for those who are really wanting to make money here and having serious about their work.
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Well it must be from a Christmas cracker then.

ironchef · Jan 30, 2018

rvince99 said:
Of those, most did it on luck and don't realize it, so their "advice" is inadvertently wrong.

If you don't feel lonely, you're probably on the wrong track.
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You are so right. Many, myself included, thought we made money in the last few years because of our trading skills, until we looked at the return of SPY, then we realized we were just lucky. If you follow our (my) recipes chances are you will not succeed.

Regards,

ironchef · Jan 30, 2018

wtpWTP said:
Hello, thanks everyone for taking the time out of your days to reply and provide feedback. Yes, I'm currently a student, but also due to many lonely days during college, was able to create my own personal income to be more financially independent. In short, since I had tried to make friends at college, reachout, etc. but failed due to social circles already being formed... I ended up saying, screw it, I'll just try to make money since making friends wasn't exactly working out. So basically I created another income stream in which I can almost quit school full-time to start trading... the only reason I haven't dropped out of school already is because I earned a full-ride to college, but depression and social anxiety have been huge against me. Just to re-iterate I don't NEED to be around people, in fact, I enjoy it for the most part, being able to have a more flexible schedule is great. But, like I said I'd tried talking about it, and friends sort of grimacing, giving the odd-eye was definitely not great. Many people consider "trading" gambling, and my current friends I've talked to about it have a more of a negative bias against it.

In addition, I'd found out the hard way to never disclose how much I make. Arguably since I had a hard time making friends, I didn't really have anything else to do except scheme on how to make more money and drink whiskey. I had this problem before, I ended up barely passing my algorithms midterm(one of the hardest classes in Computer Science), and a friend was concerned about me along the lines of saying, "Oh yeah man, you don't want to retake algorithms and have to spend all the money at this university for tuition". I replied something along the lines that I have my own income stream as well as a full ride to college, and disclosed how much I'd made, and since then the relationship changed.

Thank you kindly for your feedback. Yes... my current strategy is more focused on analyzing the trend and entering at a profitable point, not necessarily a scalping strategy nor method.

Hi Esha, thank you for leaving your comments, but I have been demo-ing and learning about the markets on my off-time studying since 2015(albeit, on and off). I understand that market success isn't an overnight plan.

I'm not afraid of losing money, as I'm currently demo-ing, and when I go live I plan to use as much capital as I won't really feel the pain when I do actually go live. In addition to using expendable capital that is very small in contrast to my actual monthly/annual income - my risk management is currently 1.5% and the current position sizes I am taking I feel very comfortable with the profit as well as the unfortunate stops that knock me out.

Hi Simple, thanks for taking the time to leave your feedback! Right, well so far during college, I tried very hard making friends my freshman and sophmore years, but as that was pretty tough - I decided to pursue side income streams, one which is passive to pay my bills. I've been studying the markets on and off around 2015, and earned my way to free ride in school, but honestly, the backstabbing and cut-throat, and university climate I am in, has me searching greener pastures. I had other options as far as programs, but was wrong in my judgement for this program at my university. I'm (reluctantly) staying in the program simply because I did get a full-ride to college, and understand the great opportunity that actually is. Also I'm so close to graduation, I basically would be wasting the years I had worked into Computer Science, I just really find a lot of difficulty actually getting the motivation to code and study anymore. So far I have been finding some success with my P/L ratio, and am mentally and physically trying to establish good habits and workflow, for when I do actually go live.
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Some of us are just born loners so don't feel too bad and accept it.

Actually trading is a fun challenge, like solving a puzzle, a math problem, money will follow when you successfully solve the riddles. The feeling of elation as you correctly judged the direction of the underlying when everyone else bet the opposite is priceless.

Good luck to you and I hope you will find peace and success in trading.

tomorton · Jan 31, 2018

ironchef said:
You are so right. Many, myself included, thought we made money in the last few years because of our trading skills, until we looked at the return of SPY, then we realized we were just lucky. If you follow our (my) recipes chances are you will not succeed.

Regards,
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Don't write off your competence. Many people spent the last 8 years saying that stocks were over-expensive and the stock markets were due for a crash. They have been chasing reversals and shorting and shorting all through the bull market.

Its still a trader's skill to find a trend, follow it and keep your risk under limitations.

rvince99 · Jan 31, 2018

tomorton said:
Don't write off your competence. Many people spent the last 8 years saying that stocks were over-expensive and the stock markets were due for a crash. They have been chasing reversals and shorting and shorting all through the bull market.

Its still a trader's skill to find a trend, follow it and keep your risk under limitations.
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This too is v true! Also, spy had been a beast to keep up with sans leverage.

Esha.J · Feb 5, 2018

Well, Forex and Stocks have their different way of earning and working.

wtpWTP · Feb 10, 2018

Friends, thank you for your encouragement and feedback. So far have gained 3% on my live account with conservative risk management levels. Was originally utilizing a weekly/daily timeframe, but quite enjoy the action on the 4hrs, anything less than that is still too much pressure and not enough time for me. I'm growing to like this challenge, but am trying to keep my discipline in accordance with my risk management, and trading rules. Thank you all again

Esha.J · Feb 12, 2018

That is great to see that someone is in profit and learning well with the forum. Be positive with your work so that it can also give you a good result.