Am I Wasting My Time?

[themickey]

A good friend of mine 8 years from retirement was planning on a simple social security check and about 1M savings.
Except he bought 2000 shares of Tesla at sub $50 3 years or so ago... he moved up retirement by 7 years and now can't see how he can retire with less than $5M...
Life is funny that way.

He probably wants a larger house and housing these days is sending most everyone into a life of slavery to pay for it.

 

[Laissez Faire]

Enjoy what you do for money and you will not want to retire....that is the situation I find myself in....very grateful for that.

You should be. And glad you are.

 

[morganpbrown]

A good friend of mine 8 years from retirement was planning on a simple social security check and about 1M savings.
Except he bought 2000 shares of Tesla at sub $50 3 years or so ago... he moved up retirement by 7 years and now can't see how he can retire with less than $5M...
Life is funny that way.

hehehe, that's a first world problem for sure. Good for him!

 

[morganpbrown]

Enjoy what you do for money and you will not want to retire....that is the situation I find myself in....very grateful for that.

Yes, I also like what I do, get to live in Denver, and it is relatively lucrative. But, it is a niche field in the oil & gas industry that's been declining since 2014. I'm grateful for every year that I'm still able to work in the field...but realistic about the fact that it might not last forever. That's why I'm trying to up my investment game. So far my investing falls under the "don't quit your day job" description!

 

[Bastion_01]

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!

It's possible but the hardest part about it is, that you'll most likely have to figure it out on your own. Even if you have a great mentor, who has both the capability, and motivation to help you, it is unlikely that you'd be able to digest all the information quickly, or gain enough confidence, without going through the motions yourself.

It took me more than 12 years to figure most of it out. So until then, best to keep your day job, or look at it as your "fixed income" portfolio.

 

[VicBee]

He probably wants a larger house and housing these days is sending most everyone into a life of slavery to pay for it.

You're in crazy Australia where buying selling real estate is a national pastime, although this friend lives in Mill Valley, California, where a 1900 sq ft, 2 bed 1 bath sells for 2M.
But the point is, humans are afflicted with perpetual insatisfaction and wants become needs in a flash.

 

[padutrader]

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!

can you make a living from pro golf......from cooking......from marketing......from painting...from macrame......from selling the body

of course you can...

same with trading

but is it easy?

hell no.

except maybe the last thing.......



in trading nothing is hidden...everything is out there......where the buyers are where the sellers are.........how strong they are.


once you read the market correctly ......you know what to do

it is extremely logical

everything is life is logical......except us.....we are emotional we think and act emotionally ...not logically....

not surprisingly there is a huge mismatch.....and most people wonder what the fuck is going on.....

in markets and life, this leads people to think it is random.

yet everything is in your hand and your actions dictate your end results .

this is Karma

 

[Bandiginn]

You are not wasting your time if you derive pleasure from trading.
Surely, in order to make trading your main income, you've got to have a very large capital to cover your daily needs. If you treat trading only just as a source of money and nothing else, I would recommend you to pay attention to investing. This will not become your income neither, but you will not spend so much time and nerves looking at the charts and experiencing large psychological pressure. Another way out for would be buying some trading bots which will do all the work for you and you'll just have to control their work. If you have the necessary skills and knowledge, I would recommend you build your own bots instead of buying them, if you don't want to master programming, then you can buy several bots which will also gain some profits. Again, this will not become your main source of income, but at least you'll avoid wasting time on the activity that doesn't bring you sense of centent.

 

[destriero]

You are not wasting your time if you derive pleasure from trading.
Surely, in order to make trading your main income, you've got to have a very large capital to cover your daily needs. If you treat trading only just as a source of money and nothing else, I would recommend you to pay attention to investing. This will not become your income neither, but you will not spend so much time and nerves looking at the charts and experiencing large psychological pressure. Another way out for would be buying some trading bots which will do all the work for you and you'll just have to control their work. If you have the necessary skills and knowledge, I would recommend you build your own bots instead of buying them, if you don't want to master programming, then you can buy several bots which will also gain some profits. Again, this will not become your main source of income, but at least you'll avoid wasting time on the activity that doesn't bring you sense of centent.

Dude, f off with the FX bot garbage. How many accounts have you blown (this week)?

 

[reecerispoli]

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!

You could always try a robot one or pamm account