Why QID and not futures? It would take one tenth of the capital for the same position size, not to mention 24-hour access on Globex and less taxes on gains..
excellent point. you definately need your down time to avoid burnout. Mental burnout especially. but that doesnt mean you fall off the dedication wagon. you need balance in your lfe...but most jobs these days require 8-10 hours a day...this isnt any different. some poeple need breaks torughout the day...some just need a 3 day weekend on occasion. It is important that screwing around doesnt become habit.
No, it's not. Knowledge + Diligence + Courage + Discipline... THAT's what counts. "Positive Attitude" is for dumbass hope-ers.
Well, it took me years of 70 - 100 hour weeks to learn this profession and perfect my technique. Paid some pretty big prices along the way, too. These days I trade purely intraday, only the ES and ER. I sit down at the charts a few minutes before trading begins. I trade for a few hours or the balance of a session, depending on different factors. All told, I spend less than 30 hours per week trading and studying charts. Stock players have a lot more homework than emini traders do, which of course adds more time. It's a profession of paying massive dues upfront, reaching a point of increasing returns with diminishing effort. Gotta work hard in the beginning, but one can coast on cruise control in due time.
Where has this FACT been proven before? Of course vendors, such as yourself, love that stat but where has the CME or CBOT published a report detailing that 90% of traders fail? And does this stat include the tiny $2500 accounts that get blown out in no time or does this stat/study factor into account the size of the account and whether the person is a business owner or casual hobbyist? That stat is a complete joke with no merit whatsoever. It's a marketing ploy for sites like Puretick to use to lure traders in. And it's a beautiful ploy - since 90% of traders fail, you better join our service so you can be part of the elite 10%! :eek: Perhaps the report is there and I missed it. If there is a report that you can provide, I apologize in advance. I have yet to ever see a vendor prove this stat that is so casually thrown around.
you points are true and valid. I dont have an excuse really. i never got into futures...maybe i will one day. I cut my teeth on stocks...and I havent ventured out yet.
i am not sure i agree with you. although just thinking positive doesnt make money but... i would say true positive attitude=mental toughness. mental toughness is a precursor to the attributes you mentioned.
Well, guess we just think of different things when speak about "positive attitude". For me it is looking at life as an endless school of valuable knowledge and experience full of possibilities for personality growth, it is believing that since I am ready to study and work as much and as diligently as it is needed to achieve my life goals they will definately be achieved etc. etc. Shortly: "my" positive attidude has nothing to do with lazybones sitting and hoping instead of doing things necessary to make his dreams real. But there is just absolutely no need to look at things under negative angle in cases when in reality nothing negative really happens, like the topic of this thread for example.
I generally don't post in "trading" threads... because traders hang onto their beliefs with religious zeal... and that's a BIG, BIG mistake. I've traded longer than some of you have been alive.... and probably made more money than anyone on ET except the Bright Bros.... (maybe I've made more than they, but no way to know). And I'm throwing you this bone.... FORGET "PMA" FORGET CONFIDENCE FORGET thinking you can "figure it out" "Trading Discipline" will make you money and save your bacon in a crisis. If I were to run OPM again, I'd have a fund named "Mr. Spock"... (1) What would Spock do, and (2) why? That's how you should trade. If you think otherwise, you're "fishin' in a dry hole". You're welcome!!