Am I Wasting My Time?

yeah well I cant say it was my pleasure.

I usually try to be polite but dont have much respect for someone trying to tell me that Im destined for failure.

that seems like a good number (depending on certain variables of course) but regardless congratulations.

as my mentor always told me the best traders hes ever met you wouldnt have a clue whether they were up or down a milly unless you glanced at their screen. But thanks for informing me how much you made.

Good luck to you as well.
 
Stockboy said:
yeah well I cant say it was my pleasure.

I usually try to be polite but dont have much respect for someone trying to tell me that Im destined for failure.

that seems like a good number (depending on certain variables of course) but regardless congratulations.

as my mentor always told me the best traders hes ever met you wouldnt have a clue whether they were up or down a milly unless you glanced at their screen. But thanks for informing me how much you made.

Good luck to you as well.
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Well, they are FOS. I don't tell the wife bc she doesn't want the stress of knowing the var. I love it when ppl say, "you'd never know he/she's a successful trader." Cash is our inventory. What else is there to discuss?

Pikers trading one lots and showing charts? Yeah... no thanks.
 
Onra said:
How is this possible Mickey?!
Do you mean preparation in creating the right mindset or in crunching numbers?
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The journey for any wannabee is tediously long if they attempt by lifting by their bootstraps.
Traders need mentors.
Mentors are non existant because its not worth it.
 
Stockboy said:
that seems like a good number (depending on certain variables of course) but regardless congratulations.
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So successful traders don't post PNL because it's beneath them to do so... this forum must be 100% populated with 8-figure traders bc nobody knows how to produce a blotter. Fuckers spending their lives posting on the pol-forum or posting charts a day late yet couldn't produce a PNL run to save their lives.

Mkt open -> phone pic -> post in real-time -> show tickers and news stamps.

Why is that do you suppose? I mean that nobody knows how to do a screen capture outside of hindsight bullshit?

If you're not here for external validation... then why bother? I am here to troll, what's your angle?
 
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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Flatly, if you don't, at the very least, have a vol-based target... you will fail in delta1. As a trader. I don't mean you can't swing trade as a hobbyist with a large bankroll and beat the SPX /n-years, but as a spec-trader in any asset? Not possible. Not without OPM (100x your partner stake or greater) or a distinct edge on exits.
 
I think the main idea is that people who make real money in this business (and have class) dont go around being all flashy, saying I made X. Maybe on twitter or people selling a dream or trying to be big shots for their insta-followers...

Also, as my bankroll is embarrassingly small and Im brand new he probably is worried I will focus only on PnL before I even have an edge and can actually deal with my drawdowns. So just reckless gambling chasing the rush and BIG BUX YO! vs actually developing as a trader. I asked once how big his position was and he didnt answer so I didnt ask again.

For me personally, last thing I want is people thinking "wow you made X today! so show me", and than when they lose ... So I usually just say "I do okay" or "Im just a gambler" when asked by normies or new traders.

Ive heard about firms, where they post everyones PnL on live screens for the entire company to view. Not sure the psychological effect this has, whether positive or negative. (new traders after seeing what is achievable, I believe after that its entirely negative just IMHO)

I am not saying youre a bad dude, or FOS because you post your PnL. it could actually be a very healthy thing, especially among those with time in the game and those willing to actually listen and learn rather than only hearing "i wanna make 10mm in three years with my 50k account too!"

Before I actually had the pleasure, many of your posts were actually some light in a sea of darkness. And it could be good to discuss PnL as a way to gauge how business is going. Its really encouraging when most people are literally sayings its impossible, and constantly crying to see someone who is successful in a field that I am just beginning. Most wannabe traders would give their left nut for a 100k bankroll yet a guy with a 100k bankroll is crying about even trying so just imagine how much utterly useless negativity this poor guy has endured.

Sorry for long post but with all that said, still mentioning how much I make in every other post is basically tasteless and just flashing my **** at some point tho as well :O) who knows maybe when I actually get there Ill be a flashy **** as well :O)
 
Stockboy said:
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Sorry for long post but with all that said, still mentioning how much I make in every other post is basically tasteless and just flashing my **** at some point tho as well :O) who knows maybe when I actually get there Ill be a flashy **** as well :O)
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I don't brag about how much I make or lose either. I post the real. Maybe that can give you some incentive. I just updated my journal "they have a plan" in the journal section. It's long though, but we're all going back to lockdown so you might have time to give the entire thread a read.

It is what it is. It is a reality of a trader's journey.
 
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