If you had to sum up why you trade? What makes you passionate about trading? What skills and qualities do you have that you felt would help you succeed in trading? I'd like to hear some good responses.
$6000+/month in expenses to pay for. I have great pattern recognition skills and had my face smashed into the sidewalk enough times that I woke up and learned how to treat trading like a business.
Where do you live, NoDoji? You need an assistant ? I'm looking for honest, straight from heart type answers... As if you were explaining to someone why they should hire you type thing.
If you wanted to hire someone to trade your money, the reason you should hire me is because I trade using a written trading plan that's proven itself profitable through varying market conditions for over a year. I like a business where, if I apply the rules of my plan, I produce a steady paycheck that's not dependent on customers/clients, employees or economic conditions. I like a business where I can work from home. I like the fact that there's no dress code so I don't have to spend time in Mall Hell keeping up with the latest business fashions. If my friend calls and says, "Hey, let's go hiking!" I can just go. I think what I like best is that the market is not random, it's incredibly predictable if you learn to trade as the casino instead of the gambler, and the income potential is tremendous whether the economy is booming or busting. The most important qualities for consistent trading success are the ability to trade what's happening in front of you, not what you believe should be happening, and the ability to leave your ego at the door when you step into the live trading arena.
The only way I can make millions sitting buttnaked watching porn, and clicking BUY every few months. Other thing is corrupt politics, but you have to get elected. Conclusion = Trading is for super lazy people with the highest returns .
Chris.. While I've just started trading with real money -- some might not even consider me a trader. I trade to serve the source, the source of creation. Basically, I come at this from the opposite angle. Most people want to get into trading to make money or they like the idea. I trade because I feel I can be the best at it in the world of worlds. I don't have an interest in the the market, especially finance. Now, I do have an interesting in making a lot of money so that goes with it. I also am driven to the idea of combing things: synthesis. Combining technology and my market read.. So for me it is like trying to find the right mix. But, successful trading requires both. I'll trade my systems because they make money. It has its own rewards and I made them so that it just another variation. So, when I hear from someone say they are passionate about the market: makes me sick. That's what losers say. As for skills, I would say the ability to process massive amounts of information is my primary advantage and make sense of it. It is the ability to work with my mind in a wholly different way and on a different plane then the typical. But, also, I'm very strong at programming which is useful too. I'm great combining and synthesizing massive amounts of information. It is no surprise that many traders were former lawyers. However, I'm not great at math or doing calculations. I'm just average or sub average. So, there is a certain niche where I am at my best. People put to much emphasis on math abilities which is just one specialization of processing.
I would want someone to train me instead of just doing it for me. Im curious why people trade? What makes you qualified? Why skills did you have that made you feel you would be good at trading
Chris, see my reply. I do offer training/mentoring. As I've said, the ability to work with the mind in a different way is the primary advantage. One thing that is required for discretionary trading is the ability to deal with uncertainty. It is a very performance activity which requires combining lots of information and boiling that down to a prediction. I think the ability to internalize wins and losses is important for the discretionary trader but not to the extent that you can' keep trading. I want someone who will watch to see if they were wrong even if it painful. If I exit a trade then I always continue to watch the market: most people try to shut down and shut out the information. So, it's important you can feel the losses but keep trading even when things look dark. This is only possible with a strong self confidence for the self internalizing trader. Some traders are externalizing, most system traders. They don't feel anything. I think this is a dangerous way to trade and requires a genius to make it work but is another angle. I can do both. It is ability to hold 2 things in the mind at the same and entertain possibilities. Now, my systematic strategies require a different sort of skills. You just basically got to place the order. So, there are a lot of angles and ways to be successful. I've never mentor anyone but most of all I would look for someone who is driven to win, who will take ownership for losses, who isn't a risk maniac but will push himself to do the best, above average intelligence, and a large capital base. The most important thing to me would be a strong desire to win without an overly critical attitude. If you try to correct my spelling then that would be a sign to me that you aren't cut out for this. You gotta be focused on the prize. It would show me that you aren't concentrating on the message, aren't 100% focused, and that you aren't driven. That type of mentality is a huge red flag. I want someone who is constantly thinking about winning, trying to figure out the market, analyzing his performance.. Weakness is sickness. But, you also would have to love it. I would also be concerned about the gambling type. If you can't learn from your mistakes then you are doomed. Again, the argumentative types, overly left brain types, the type who can't lose any money, then those are the types that would concern me or I'd outright rule out. I have the advantage of being able to both be very analytical and critical and very uncritical with a strong programming and logical mind and also a strong creative mind. Not many people have this ability. This is not to say it is the only way. Some people approach the market in a very systematic way, design strategies, and they do well too. It is mainly finding your strengths and then doing what works. I always say focus on your strengths. It wouldn't make sense for me to approach the markets in the same way as a phd. ---- The elite trader is one who cannot be shaken out of a the right position but who gives like water when he is wrong. Quickly, easily, effortlessly. A fine example was on Friday, I took a small short position. It was based on a hypothesis that the market might sell off. I turned out to be completely wrong. I lost a very small amount on it. I didn't wait for price to hit a stop. I just recognized I was wrong and got out. I traded GOOD. However, I was just a fine thread from reversing. If I had of, I would have traded great. What happens when you are wrong? Gambler: Gets wiped out or takes devastating loss. Fair trader: Lets stop get hit. Takes large loss. Good trader: Takes small loss or a large loss if it is only possibility. Great Trader: Takes small loss and then makes money. What happens when you are very right? Gambler: Takes a large loss often, he was oversized. Fair trader: Gets stopped out for a small loss or gets a small win. Good trader: Takes out a good sized profit. Great trader: Takes out a good sized profit and some more either by adding to position, holding for additional profits, or jumping back in.
I trade because I enjoy it and because I plan to reach consistency with size in the near future and beat most potentially available incomes out there available to me. With high unemployment and no college degree my options out there are very limited. Not there yet, I am consistent just having trouble upsizing because my capital is limited and the pressure is high. Working on it. One step at a time.
I trade because it's my livelihood. I've done this full time for 15+ years. My background was Stats/Math/Artificial Intelligence/Expert Systems that I used in corp. world and I saw that I could use some of that background to help me in my trading.