If you are a beginner, this is completely crazy !!! Notwithstanding that you must have made enough savings to maintain the same comfort of life of your family for several months or years notably in case of failure. If you have already experience this would be different. But if you had already experience you wouldn't ask this question in this way so I doubt that you've got some or enough.
becareful of what u wish for, because you might just get what u want? I have always thought to aim high in trading .$800/day is way too low a expectation.. if you want to quit your current job for $800/day 'job', I don't think it's a improvement.. your attitude should be" you are quiting your job because you KNOW you will be making millions...for starters" perhaps that's another reason why 90% of people fail in trading.. "trading is a blow..err..dayjob" > low expectation > low commitment > less results > lowers expectation > even lower results...t he cycle continues until the guy gives up..
can't agree more.. those who haven't traded for a living won't get it.. sooner or later...you have to find something else to do..
"know thyself"....Socrates not knowing is the stumbling block in trading for most people. if you have any insecurities or self deceptions these will come back to haunt you in a big way. In concept "trading" is the easiest thing in the world to do: buy em as they are going up and sell em as they are going down......learning the rules, adhering to the rules, controlling size and ego, learning when to break the rules those are hard as emotion enters the picture for most people. Successful traders seem to be have a "colder" attitude about emotion...... you have to trade at a size level that is completely comfortable...making the "game" the thing that interests you, NOT the money. And if you don't find the "game" fascinating, and if you aren't ready to learn all about yourself and be willing to take the blame for your inadequacies.....trading definetly is NOT for you!
My friend I don't understand your insight. Have you been trading and suffering for that for 15 years ???? Heck !!! Don't mean to be offensive but that's insane
I would even say that trading is easy! Surely easier than most other jobs. If you're successful in trading - trading should be fun and easy, sometimes challenging of course, but never dreadful, painful and NOT not worth it. If you're good at trading - it should come easy to you, with challenges, but overall something you enjoy. It sounds like you guys dont enjoy it - so don't trade. no one is making you
The point I am making is that trading is just not worth it, even if you are successful. The risk/effort to reward ratio is not good enough for me, this is MY opinion. If you are great, then what are you really great at, staring at a computer screen all day and making some money....Come on, especially if you are 24 with endless future opportunities. There are many much more interesting ways to make money. BTW, I have done many other things besides trading. Many, much more challenging. This should stir up some of the youngens T-Rex's post seems the most insightful and realistic.
pismo...i don't quite understand this whole thread...it seems like you are trying to downplay how hard and challenging the market is, while at the same time saying that its just too hard and not worth the struggle. it almost sounds like there is some internal problem that is not being discussed...i wish you all the good trading in the future, and hope you have fun in life....because, that's what its about for me, trading is a way to keep my mind challenged, to make some money, and more importantly, to let me do what i want to do in life, without having to tie it to making money.
If trading is not worth it, and you have done "many other things" much more challenging, why are you lurking and posting on Elite Trader? Sorry, your posts are garbage and your explanations are less than credible. You sound like a bitter, old person who has lost money in the market and has nothing better to do but bash those who are successful. Good luck with that, though.
Good post. My 2 cents ... Trading can be as challenging as anything else. I know a bunch of people that have done this for decades and love it: they make a good living and are home with their families every night. For a lot of people structuring their lives so they are not at the mercy of some large corporation and so they can be home with their families is defined as success. Bottom line: if you dont like the profession then do something else.