You guys are really depressing. I’m 84 and have been in the market for 3 years, so there is a fair chance I won’t make it to the 10 years of profitable trading that you believe it takes to be considered successful. Maybe I should take my money and run. The thing is, I like it. It’s fascinating.
Always do what you enjoy, regardless of the outcome. It may work out, it may not. As long as you remain joyful within yourself no matter the outcome, that's all that matters.
I've given more thought to your question, and the answer comes down to this... Trading is the only profession where you can work a day, and instead of earning money, you give it back and make zero income. And on really bad days, you give it all away, and you have negative income. There is NO OTHER PROFESSION where this happens. NONE. NADA. ZILCH. That it is why it is "hardest".
actually construction is that way but worst. you can build a house with your labor and materials and then the client just not pay you. if you try and go get your lumber back or burn it down they arrest you. you worked your ass off for months and then find out your not getting paid. lot's of businesses like that. true trading happens quick - it's a good thing to know you lost quick.
It is not the same thing as trading. Who the fuck builds a house without a down-payment on the construction project? Totally different. Game Penalty on markbrown.
One reason I think trading is hard, is because the retail crowd are under educated. The professionals can find it a tad difficult, so if that's the case, what hope has retail. Some professionals imo are creming it, they are the ones who, not only are they clever but they are educated by their peers, it's handed to them via their business partners. Back to retail traders, they believe too much bs. They think in terms of magic. A 30 day moving average for example, or an RSI, or Gann, or EW, or Fibonnachi magic numbers. Retail believe in MACD magic and cup and handle magic and Double Tops magic. How about Bollinger Bands magic, oscillators, stochastics and a hundred other magic wands......? All that magic is, is looking at historical crystal balls. Just get yourself a monkey with a dartboard. Oh another magic is Al Brooks magic, he's like a magician who has the secret potion to success. The real magic to trading is use common sense. That's the part which is quite difficult. If you've been trading a while and still struggling, throw all the books away. Just use your brain. I'm not talking about Options trading but directional trading.
there are real estate investors who have made this a significant part of their profit structure. some people consider them to be good businessmen.
trading is hard because you don’t know if you will earn or not. I own a business. I know that for every widget I sell I will make money. I might not make enough widgets to make a profit but each widget gets me closer. a wage earner has a high degree of certainty (over 99percent) that he will be paid tomorrow. He knows he will make more money tomorrow. trading is hard because you don’t know if your trade will earn and then if you will find enough trades to earn enough. All the while competing in one of the most transparent competitive industries out there.