this goes out to the traders around that have been trading profitable for a longer time already: 1. what i would find very interesting is how many trades did it take you to turn around and become a consistently profitable trader? i guess this number would be much more indicative than anything else (time needed / money lost) - since everybody trades different sizes and makes a different number of trades per day/month ... 2. after you have become profitable - how did this change your attitude and your emotions? more pressure (because of higher goals)? less pressure (because you know you can make it)? are you trading more relaxed since then? are you trading with less fear? what else has changed for you? please tell - any answer is greatly appreciated!
gerry- go to library. take out books. "Pit BUll" by Marty Schwartz "Market Wizards" and/or "New Market Wizards" by Jack Scwager the answers are there.
Or inundated with rude intolerant highly experienced (clearly) traders... who don't post much except to be offensive perhaps? And with a very poor writing style I might add.. lol This forum is for all traders I would venture... new and brilliantly old alike.. questions from people who want to trade are a huge part of this place and should be encouraged not savaged. Neil (give it your BestShot LongShot!)
The pressure never leaves; It is a different pressure. Pressure to continue to perform. Relax, I was out the day they taught that at trading school. To perform at the highest levels of any endevour requires concentration, tenacity, persistence, discipline, practice and a deep deep desire to be a "winner" that cannot be taught. It must be found from within. After you become profitable, you should only make gradual adjustments to your style to either change it or increase the size. Large changes cause setbacks mentally that take too much time to overcome. As Yogi says (paraphrase here) Trading is 50% technique and 90% mental. You cannot allow yourself to become defensive when trading it causes poor decisions whether financial or irrational. LONGSHOT -- good luck, dude. With an attitude like that you will get real far in this world.
if you do it long enough it becomes just a job. longshot is not new, he is just the latest version of traderx / fasterpussycat / who knows what else. would probably have 1,000 posts if all his aliases were combined.
"There is nothing like losing all you have in the world for teaching you what not to do. And when you know what not to do in order not to lose money, you begin to learn what to do in order to win. Did you get that? You begin to learn!" - Reminiscences of a Stock Operator by Edwin Lefevre
Yes, you will learn that Mr Schwartz has precisely two bowels movement per day; one in the morning and one in the evening, because as he tells us (and this is very important) "you need to keep the plumbing clean" (or something to that effect).