in 6 months when i started trading i made 45 times my starting capital.....yet i had zero knowledge how to trade.....so i know money does not mean you are a trader....
because i am an idiot....unlike you apparently. market movement are simple ....move then correction then move......this keeps on repeating. yet it took me a longtime make money consistently.....
unless you have one of that you are adviced by experts not to trade. but the fact is in any business, unless you can survive the down periods you will not survive. which is why 95 % of all first time businesses fail within the first year.
That stat is thrown around and may be true, but if you have a good idea (or mentor, system program, etc) and discipline, there are many businesses you can start with a much better chance of surviving than a trading account. I've run one profitably for almost 15 years that's largely passive.
trading is also a business......and there are many businesses that run like a gambling Baring bank fiasco and bankruptcy was one. i lump trading financial instruments along with any other businesses
Those are nice platitudes that trading coaches like to say, but in the end you need a real edge--not just "good psychology." Today's markets are largely ruled by algos, and I seriously doubt a 100+ year old Wyckoff method will help. VERY few strategies have been held up under robust backtesting and forward-testing...and even when they do, they seem to fall apart as soon as they're promoted and people have enough confidence to follow them. While options trading is full of landmines, selling premium is one of the few possible edges out there...if you can do it in a way that's carefully hedged and still profitable. It sounds like you're trying to trade directionally which is really difficult...we're not living in the 70s and 80s when trends were strong and lasted long enough for the Turtles to make out like bandits. I know this isn't what you want to hear...so you can listen to the CME guys if you want. While you're at it, ask for account statements and see how many of them actually trade for a living.
markets discount everything including algos and do not forget algos are based on technicals so i do not think they change markets.......markets still go where they are allowed to go
none that are legal....... and none that have a lesser cost of entry than day trading.....show me business where you can enter with 200 usd you need not agree with me.....
why do you not believe they do? most business just get by you do not need to make a lot of money to live....provided your wants are reasonable