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Never over-trade and Never force a trade. Relax, take a deep breath and back away. Over-trading is a knee-jerk reaction like Fight or Flight. In trading Flight is more honorable, because you will have many more trades to make...

Discipline. Learn how to play poker correctly. (cross apply to trading and vice versa) Restraint. Learn it love it. Keep rules. Then follow them. Make 50-100$ a day and never get greedy. You can size up later. If you've been trading off and on for 14 years, there's something...

Obviously this is subjective... What is more stressful, trading or cutting someone open for a heart transplant? :D I'd say trading is moderately stressful, but not nearly as bad as doing an operation on someone!!

you have 100k-1 million? um, why not trade currencies, you get 1:100 leverage. So your 1 million dollar stake becomes 100 million. I highly doubt you need 1:100 if you have 100k-1m. Are you Nick Leeson? Lol. :D

I try not to let myself lose a measly $60 in one day...otherwise I just stop for the day...go workout etc. it's better to just cut and RUN. I play a lot of poker and understand how repetitive folding can be frustrating as well as losing GOOD bets. Walk AWAY from the table and wait...

You cannot do both. Pick a path and stick to it. Trading is risky, but it is rewarding too... IF you make the "cut." No steady paychecks...and sometimes it can be rough being under capitalized. It is a long, hard, bumpy, muddy, slushy, stinky, curvy, winding road.. Best of luck..

I don't want to let the cat out of the bag here, but I've got some "hot spots" to live and trade. 1. Galveston Island Texas: Rebounding after huricane IKE. Apartments are around 500-1,000 USD a month for 1 bedroom...near the beaches and good weather year round for biking, running, hiking etc...

You need a 2 or 3 sma crossing a 500 sma on a 10 min chart. That's it! Follow it exactly and it works well. Don't make it complex.

This thread is quite...odd....BUT it makes a good point...Keep track of personal expenses, as well as business expenses, so you don't end up 200k in the hole! I better start writing down my expenses while I'm at it! :D Yippy!

"But - you know, institutional investing isn't anything like retail trading. For starters, you are not going to see an IB's equities desk using a RSI + MACD crossover system on 5 min charts - the only reason they will be looking at indicators is to manipulate them as to bring in some supply or...

And who says we can't be "Professional Gamblers"? I sure wouldn't mind being a Doyle Brunson or Phil Helmuth! :cool:

Wow, you should not need "NERVES OF STEEL" when just starting out. This is bullsh*t. You should be trading insignificant sizes. For example, you have 10k account size. Keep your FX position at 1$ per pip, then you will be comfortable. If you trade futures, 1 contract max: stocks 100 share...

Lmao. Why do traders have multiple screens?

Have you gone Bust yet Lex? I hope not.

Sorry, but the show SUCKED! They didn't go over any technical analysis it seemed like. It was all about, "watch the news guys, omg, read the paper, omg WALL STREET JOURNAL." If that Lex (Van Damned :) ) guy actually hired and trained people who had some minimal experience in risk taking...

Dude, go to a tax preparer and get it done correctly. They can help you input all the information and possibly help you deduct "other business expense" (without bending the rules too much) :D Some things you will need to consider: deductions from income (medical, interest paid etc), M2M...

Ah not to be an asshole.... But if you google, "prop firm list" you will get: http://www.tradersnarrative.com/list-of-proprietary-trading-firms-735.html And if you couldn't find that list on your own, rethink the prop idea :D I've given that link to a dozen confused wanna-be traders...

Why don't you trade your own money? Surely you must have a buck or two working in the financial industry during the bull years :D Get a trading account, set up a few monitors, learn the game with paper money and you're set. Most prop firms don't pay salary anyways, you eat what you kill...

There really cannot be a standardized amount of time it takes to become a PROFITABLE trader.. My friend was profitable in literally 3 months. He learned so fast, he completely blew through my expectations and nailed a huge return... I would say, as a generalization, 10k hours SHOULD be...

Seriously, don't trade, unless you MUST. Start paper trading at your day job, because most traders don't start making a living wage right away. altho, if you can make it work, trading is by far the most independent and most rewarding way to earn a living... IMO :D You can be as dumb as...