Am I Wasting My Time?

deaddog said:
That's exactly what I was suggesting. For those who can't trade it is the best solution.
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Ohh yess, I am not putting all my hopes and dreams in trading man. No way. Have to continue working and investing for retirement incase trading does not work out. I have full time job, so time is my biggest enemy.
 
SimpleMeLike said:
Of course it helps man. I am learning from experienced traders in a structured educated manner, just like college. Why try to learn on your own, when you can pay for trading training from others experienced traders and let them teach you? I mean, it is not rocket science to me.
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I took the hard route. I let the market teach me. I would have gladly paid someone who was successful show me the ropes; the problem was I couldn't find anyone successful who was willing to teach.

If there is a secret, it is to know yourself. Figure out why you do stuff and then find a way to stop doing the stuff that hurts your trading. Only you can answer those questions.

I spend a lot of time trying to prove trading strategies don't work. If I can't prove it, maybe it will work.
 
deaddog said:
I took the hard route. I let the market teach me. I would have gladly paid someone who was successful show me the ropes; the problem was I couldn't find anyone successful who was willing to teach.

If there is a secret, it is to know yourself. Figure out why you do stuff and then find a way to stop doing the stuff that hurts your trading. Only you can answer those questions.

I spend a lot of time trying to prove trading strategies don't work. If I can't prove it, maybe it will work.
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deaddog,

I completely understand, my first 3 years, I tried learning on my own. I am getting there. Yes, that is the risk you take paying someone for knowledge, you just don't know if they successful or not trading besides selling stuff. lol.

YOU ARE sooo right about the "know yourself" part. Journaling every day helps. It is really a journal of yourself daily

I will another thing I am learning and that is: Be present in the market everyday. Do not take days and weeks off because market conditions change.
 
deaddog said:
I took the hard route. I let the market teach me. I would have gladly paid someone who was successful show me the ropes; the problem was I couldn't find anyone successful who was willing to teach.

If there is a secret, it is to know yourself. Figure out why you do stuff and then find a way to stop doing the stuff that hurts your trading. Only you can answer those questions.

I spend a lot of time trying to prove trading strategies don't work. If I can't prove it, maybe it will work.
More...

Took the long route myself. I am a self-taught trader. Everything I learned on my own including, learning to trade options. Simplifying my trading has improved my trading performance a great deal. Also, less trades but, quality trades improves results. Less stress too because good trading is boring.
 
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virtusa said:
If you trade options you will not understand how you can trade less then 100K in futures ES and make a good living without having to trade 30 years day in day out.
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You are correct. I don't have a clue about futures and that in futures one can easily make 50% a year every year. I learn something today.

Thank you for correcting me.

Best to you.
 
SimpleMeLike said:
ironchef
I respect what you saying, but I still rather pay for help and training. Getting free trading help has not worked out for me. Just sends me in circles. I am at the point in life, where it's just easier to pay to be taught something or buy whatever trading course or book I want. Sorry, just do not want the free stuff. Waste of time cause I will not get all the details, just half ass stuff and messing around. Look at all the free stuff on youtube. Millions of trading videos. Too much room from error.

Even went my hunting deer hobbies, most guys do all this fancy stuff going to free park and free land to hunt deer, not me. I pay for a lavish guided deer hunt with a guy who knows where the deer is in a fancy cabin. He point out the deer, I aim and shoot, I bring home the meat.

Just easier to pay man.

The only time I get free help is when I at work.
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I have found my niche with helps from all you ET'er and I am thankful.

I am a skeptic and I am bias so don't take my words as bible. Do what you believe in and hopefully you will find your way.

Good luck @SimpleMeLike
 
Thor said:
My 2 sentence reply to ALL of the above because I'm very down to earth

After doing all this did you solve your problem?
Yes or no, there is no gray.

I know the answer and you do too. If the problem is still not solved do you think you did the right things and connected to the right people?
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Short answer: YES.

I trade options for a living, full time, since 2013.
 
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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It's a realistic question. It's also an issue of timing. I started during the dot-com mania, and I thought I was a genius, and then realized, that I just got super lucky. In all honesty, I do not think I would stand a chance if I were to start as a beginner trader now. The "rabbit hole" has expanded exponentially since I started in 1998. I took a look at YouTube, and it would take you a lifetime to figure out who is for real, since their marketing skills are super advanced. Back in my time, for my first 5 years, I just looked at my fellow traders on the desk, and looked at their screens (P&L). Now, it's a whole new world.

I just answered one of these vendors:
https://www.elitetrader.com/et/threads/n-a.346802/page-7
 
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