Am I Wasting My Time?

Am I Wasting My Time?

The only correct and reliable answer is: you will only know that in hindsight. But even if you stop because you are sure you waste your time, you are never sure it was the right decision. As you don't know what would have happened if you would have continued.

If people could see before that they are wasting their time, there would be no losers as they would even never start to trade. And that would cause problems for the winners too, as they need the losers to rob their money. Losers that wouldn't exist anymore...
 
BlacknBlue said:
If you can't make money with 100K then yeah sorry you can't make it. If you can't make $200 a day which is only 0.002% then it just aint for ya! No worries. You can still find a job in the investment field to earn around 6 figures eventually.
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$200 a day on $100K is 0.2% not 0.002%

Same Lazy Element said:
BlacknBlue said:
What is wrong with making 0.002% a day when the market/stocks give directions in 2% in any direction on any given day?
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Unless you are a computer and doing hundreds of trades a day (or even thousands), picking up 2bps a day after transaction costs is very hard. Granted, this is ET - everyone lives in Beverly Hill and dates Jessica Alba.
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0.002% is 0.2bps, not 2bps

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can elite traders do basic math?
 
Tall Mike said:
I wanted to post this question here. Might be a stupid question, but just trying to look at this from a realistic perspective.

Am I wasting my time chasing the "trade for a living" dream?

I've done countless hours or research and it seems that the only people making real money in this industry are selling their systems or selling their mentoring and coaching services.

Additionally, I took a step back and thought about the potential outcomes and none of them really seem to add up either. The best-case scenario to me would look like I make several thousand for all the time and energy put into it, and that might not even be realistic.

- Trading with only $100k of capital is not even close enough to potentially trade for a living
- No path to raise real money from outside investors in the US with all the SEC red tape.
- No track record
- Lastly and most importantly, I feel that there is barely any edge out there for the retail trader. With all the competition in the market, I find it very hard to believe anybody out there truly makes an income from just trading for a living.

I started my trading education path back in 2011 up until about 2016 then life came around, but recently I've been coming back to the drawing board but this time around knowing what I know now, I am wondering if this is even a realistic path to go down or if I should just stop now and focus my time on something that could pay off more instead of going down the rabbit hole.

Again, this might be stupid, and I am sure I will get a lot of "noob thinks he is going to make millions overnight" or "haven't even traded yet and is already going to quit" type replies but I'm just trying to look at this from a realistic and logical path this time around.

Thanks!
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The information you provide isn't specific enough to attract the right answer from the right people. For example what instruments you have traded? What trading methodology you have used to trade those instrument? Trade holding period? Timeframes? Have you backtested? Is the backtest result profitable (positive expectancy)? Is the real-time/demo trading result close to the backtest result? Have you noticed hindsight of the trading methodology during real-time/demo trading? Etc.

All of those questions are only from perspective of trading using chart. Imagine that you are trading not using chart like purely using market depth. Would not it be wasting time of other people who trade using chart to answer your thread?
 
Keep your "day" job and learn how to swing trade. I would never advise anyone to quit a steady career job in order to try to trade their own account full time.

If you are doing so well swing trading to the extent that keeping your "day" job is ridiculous - then by all means go for it.

If it's just about accumulating wealth - there are better ways to go about it than trading. Especially if you have a Tech background and training.

Tall Mike said:
I wanted to post this question here. Might be a stupid question, but just trying to look at this from a realistic perspective.

Am I wasting my time chasing the "trade for a living" dream?

I've done countless hours or research and it seems that the only people making real money in this industry are selling their systems or selling their mentoring and coaching services.

Additionally, I took a step back and thought about the potential outcomes and none of them really seem to add up either. The best-case scenario to me would look like I make several thousand for all the time and energy put into it, and that might not even be realistic.

- Trading with only $100k of capital is not even close enough to potentially trade for a living
- No path to raise real money from outside investors in the US with all the SEC red tape.
- No track record
- Lastly and most importantly, I feel that there is barely any edge out there for the retail trader. With all the competition in the market, I find it very hard to believe anybody out there truly makes an income from just trading for a living.

I started my trading education path back in 2011 up until about 2016 then life came around, but recently I've been coming back to the drawing board but this time around knowing what I know now, I am wondering if this is even a realistic path to go down or if I should just stop now and focus my time on something that could pay off more instead of going down the rabbit hole.

Again, this might be stupid, and I am sure I will get a lot of "noob thinks he is going to make millions overnight" or "haven't even traded yet and is already going to quit" type replies but I'm just trying to look at this from a realistic and logical path this time around.

Thanks!
More...
 
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