Steps to becoming a great trader

Discussion in 'Forex' started by T-Bone Trader, May 27, 2009.

  1. Eric215


    There is a difference between two people debating and stating their opinions in a civil and respectful manner as opposed to attacking someone elses opinion in a loud mouth and arrogant way that insinuates you have superior knowledge. Go back and read the thread and notice how no one else chimed in and said that someone elses opinions are "claptrap" or whatever. I posted a sensible comment in a respectful manner. I didn't come in and insult someone else's comment and then state that I know how it really is. You did that and THAT is not debating. So again, if I state respectfully that I think that so and so is true and then you come in and say "that's garbage let me tell what is really true". THAT again, is not debating. That is what a know it all blow hard does. But instead of all of this I will just put you on ignore. Good Luck
    #41     Jun 4, 2009
  2. Tsk tsk, that's not very professional or very healthy, this is actually an important issue.

    It's tempting to just catch a few hours here and there 'when you can' in case you miss something but it's not a good way to live.

    Proper sleep, regular meals and coffee breaks, exercise, recreation, exclusive family time, they're all part of a well rounded life and it will be reflected in your trading.

    Far too many people leap out of bed after a couple of hours nap, straight to the screens and then sit there unshaved, unshowered, unfed, for hours on end, grabbing snacks to keep them going.

    Treat trading as you would any normal job or business, don't be a slave to it at the exclusion of everything else. Your performance and job satisfaction will increase immeasurably.
    #42     Jun 4, 2009

  3. Important point on sleep cable! Thanks for bringing it to the forefront - very important. One can't make decisions if he's sleepy and irritated. Sorta like trying to drive without sleep, it's suicide!
    #43     Jun 4, 2009
  4. Eric215


    When you manage other people's money and your very survival rests upon managing your positions properly then I will take your advice on my sleep schedule.

    And I forgot to put this in my previous post about debating. Look at the difference in tone of our first two comments. This will show who really is arrogant and conceded, even without merit. Maybe this will help you in your future dealings here. My comment comes from a place of humility and respect, even though I have authority on the subject, yours comes from a place of arrogance and superior knowledge as though you do have authority, in which you don't. Maybe you just like to start arguments or you really think that you do know it all, but either way, this should be all people need to see in order to figure out who to trust here. I don't state my credentials unless I have too, in order to deal with people like you who argue in an arrogant an insulting manner until the end of time.
    #44     Jun 4, 2009
  5. I agree, and the adverse affects are amazing.

    Apart from the sleep issue, I've seen traders getting frustrated and angry when they haven't found a trade after sitting there for 7 or 8 hours solid, they end up finding any trade just to justify their time. I've seen health deteriorate, families and friends shoved aside, whole lives where every waking minute is dedicated exclusively to trading and making money at the expense of everything else.

    I've seen it because I've done it, I never want to go back there. Nowadays I treat trading the way it should be treated, an incredibly flexible and enjoyable job which allows me to enjoy life instead of being my life. I get ready to go to work in the morning like any other job, shower, take the dogs out for a walk, breakfast, then I go to work. Coffee breaks, lunch break, and finish at a reasonable time unless something significant is happening.

    I urge everyone who trades full-time to give it a go, set yourself an acceptable routine and see the difference it makes to your life and to your trading productivity.
    #45     Jun 4, 2009
  6. Then you don't know how to manage your clients. Plenty of people here manage funds, myself included, clients aren't your employer they're your clients, you can't allow your life to revolve around them.

    If you produce a healthy return for them they'll be happy no matter what time you get up in the morning.

    Potions, I don't know what you mean, sorry.
    #46     Jun 4, 2009
  7. Eric215


    You mange a fund, that's rich, hahahaha!! So you go from "I'm not a great trader" to I manage a fund. Hhahahaha!! Scalping for two pips 40 times a day and you manage a fund, hahahahaha!!

    And it was positions, I edited it right after I posted it.

    And "I don't know how to manage my clients". Hahahaha!!

    Now I feel satisfied with ending my argument with you. Thanks for posting that.
    #47     Jun 4, 2009
  8. Have you lost it altogether?

    Ummm yes, I manage clients funds, on Oanda's FXManager. Yes I scalp for between 1 and 15 pips. Yes I produce on average 70 or 80 pips a day (my trading blotters are posted all over these forums, just type something like 'pips wins +' in search), and no I'm not a great trader, there are far better ways to trade and far better traders than me. However I'm consistent, I have a fairly smooth equity curve, no major drawdowns, and everyone seems fairly happy. Sorry, is there something wrong with that, and here was me thinking that was the aim of trading, you obviously know different!

    lol, what, you think you're the only person in the forum to manage a bit of money (even though it is just your uncle's)? Get real!

    And no, I don't think you do actually know how to manage clients if you're getting 4 hours sleep a night just to keep them happy!

    What's next, maybe you'd like to find fault with my spelling or something :D

    Quit my friend, you're making a complete arse of yourself!
    #48     Jun 4, 2009