You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
40yo's new career or bust
- Thread starter 40yotrader
- Start date
- Status
- Not open for further replies.
"Also, my wife and I will be taking turns during trading days to lower the risk of boredom or inattention. "
And that is probably one of the best balances that you will have -your wife. Others may balk at this, but females sometimes make the best or better trader. You are blessed to have this opportunity!
Over time and through your postings here, I think that you are going to be surprised by the composer and intuition that you wife will offer through RT trading.
Reading through the posts, I think you have done more than can to be expected in planning to trade for a living.
GOOD LUCK!
And that is probably one of the best balances that you will have -your wife. Others may balk at this, but females sometimes make the best or better trader. You are blessed to have this opportunity!
Over time and through your postings here, I think that you are going to be surprised by the composer and intuition that you wife will offer through RT trading.
Reading through the posts, I think you have done more than can to be expected in planning to trade for a living.
GOOD LUCK!
40yotrader:
I am reading your journal with great interest.
I think you are better prepared than 99% of all new traders and maybe even 95% of people who have been trading for 2-3 yrs. With the meticulous and intelligent groundwork you have demonstrated, the odds are very high that you will be a success at ANY venture (trading or otherwise) you start.
Good luck !!
-kk70
I am reading your journal with great interest.
I think you are better prepared than 99% of all new traders and maybe even 95% of people who have been trading for 2-3 yrs. With the meticulous and intelligent groundwork you have demonstrated, the odds are very high that you will be a success at ANY venture (trading or otherwise) you start.
Good luck !!
-kk70
Originally posted by John Q Public
May I direct you to the various aphexciol posts.
From what I could see in his realtime posts it looked like he was stressed out while trading. I was stressed out the first week of papertrading. I'm not anymore. Maybe I'll be stressed out on Friday. If so, I'll get up and my wife can enter the trades. I'll go work out some more. Is this what you guys mean by real money trading?
John Q Public
Guest
Originally posted by 40yotrader
From what I could see in his realtime posts it looked like he was stressed out while trading. I was stressed out the first week of papertrading. I'm not anymore. Maybe I'll be stressed out on Friday. If so, I'll get up and my wife can enter the trades. I'll go work out some more. Is this what you guys mean by real money trading?
I wish that there was a way to explain it. I wish that there was a way for you to realistically simulate it, but there isn't.
Aphexcoil is also a very sharp young man, and had given alot of thought to his entry in to the trading world. The main difference between the two of you is that he was trading because he wanted to make money. You will be trading needing to make money. That's what they call scared money.
Another problem that you share in common is the unnecessary and therefore foolish need to do this publicly. This adds additional pressure. pressure that will only compound all of the other unexpected pressures that paper trading and daydreaming cannot prepare you for.
I do not wish you ill. But your over-confidence, and unhealthy need to do this in front of everyone concerns me. Most of your support on this board comes from young hot shots. They ain't in your shoes guy.
Go slow, and give some real thought about going in private. Boast to the world if and when you pull it off.
I agree...Of all the various aspects of your trading plan, the one I most admire and believe will be of the most assistance is having your spouse share the duties...After all, that is how the great Marty Schwartz found success in the early years...
Trading alone is definitely a unique experience as I am sure many others on this forum will attest to...Being able to discuss the battle plan everyday verbally is even more reinforcing than simply putting words on a piece of paper...After all, why else do large funds, brokerage houses have morning meetings...They need to reinforce their plan, their discipline and find some order amidst the chaos...
With your spouse there, so long as you are both on the same page, with the same trading philosophy, same understanding of the plan, you are going to have a significant advantage...The psychological burn out is one of the bigger enemies of index futures trading...Breaking up the routine without actually removing yourself from the flow is a good thing...
Trading alone is definitely a unique experience as I am sure many others on this forum will attest to...Being able to discuss the battle plan everyday verbally is even more reinforcing than simply putting words on a piece of paper...After all, why else do large funds, brokerage houses have morning meetings...They need to reinforce their plan, their discipline and find some order amidst the chaos...
With your spouse there, so long as you are both on the same page, with the same trading philosophy, same understanding of the plan, you are going to have a significant advantage...The psychological burn out is one of the bigger enemies of index futures trading...Breaking up the routine without actually removing yourself from the flow is a good thing...
Originally posted by 40yotrader
The data used for this were from the SP futures, not ES.
40,
You tested on SP data but you're going to trade the E-minis, is that correct? I've tested systems using both data and I've found them to give much different results. If I were you, I'd test the system on the available E-mini data to see if your results change.
My 2 cents.
Originally posted by chisel
40,
You tested on SP data but you're going to trade the E-minis, is that correct? I've tested systems using both data and I've found them to give much different results. If I were you, I'd test the system on the available E-mini data to see if your results change.
My 2 cents.
As far as I know, the Emini didn't exist before 1997. I don't have the ability to make continuous futures contracts, so that's another limitation. On the plus side, in the past 6 months of testing, trading off the Emini data instead of the SP has been slightly more profitable (not noticeable). I guess it's just a risk I'll have to assume.
- Status
- Not open for further replies.