Another one hangs it up

you are NOT "guaranteed" to win in poker

fwiw, I have been very successful playing no-limit, and i only started 2 months ago, but i did extensive research into the sport and also use a lot of statisiticaly tools to help my edge

regardless, it is not guaranteed- if u understand the math. it is merely that the math will give u an edge over other who don't understand it as thoroughly as you.

some, will be better at it than you.

regardless, especially in No-Limit, poker is not just about playing the cards (so called "abc poker) via the math, but about playing the OTHER PLAYER.


most hands in nolimit don't even go to showdown

so, the cards are - in a sense- not even relevant on those hands

limit, otoh, is a game of smaller edges, and is more math based. nolimit is a game of pressing when u have a bigger edge and has much more psychology
 
I lost my software engineer job when I am near 30 years old. No where to find another job. And have kid to raise. So I just buy /sell stuff at ebay ,amazon ; try to make a living from it. Learned a lot of auction stuff, and built a penny saving mind, also some inventory manage skill. Slowly ,I started to trading stock full time. for the past couple of years ,every month I make more than my previous software engineer job 's yearly salary.

I really think ebay maybe the best place to learn how to trading while you still can make a living from it.
 
Well you gave it a try. At least you got that. However, I've been trading profitable since 2001 myself. So it is possible. It all depends on your trading style and how you handle emotions.
 
Quote from easyrider:

I am a pattern trader. I do not see how this kind of trading can ever go away. A bearflag in a strong downtrend is a moneymaker and barring some drastic change in human nature it always will be.
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I wouldn't take advice from an obvious faker.

Look for some better resources kid.
 
Broken, I hear what your going through. I traded for about 3.5 yrs from 95-99 when daytrading was just starting to become more popular. I stopped trading as I blew out, for reasons which are very obvious to me now.

While you may feel that you have wasted the past five years, if you are totaly honest with yourself you'll see that you really have learned alot about yourself, the markets and your emotions. Dont discount that valuable life experience as if you take time to understand it over time it can serve you well wherever you find yourself.

Personally I dont see any value in lying on a resume, instead I think you should attempt to educate your reader on the complexities and intracacies of what we all know the market throws at you. You can demonstrate a great work ethic, resilience and various other skills.

Personally I would recommend to take time away and then revisit your old trading records... I did this after a few years for tax issues and it was a real eye opener. Even if you choose not to trade again in a professional manner as you did, you may perhaps see patterns, and underlying issues, perhaps emotional or tactical which caused your fate.

Above all else, do what you feel passionate about. I feel we have been given gifts at birth, for us to explore an use to help ourselves and others. Use your passions to guide you to explore your gifts.

All the best.

FZR
 
The wording in this post makes it difficult for me to comment. For some reason there is not much to say. Being that I am a trader, I guess I am in stage two of your description.

Just now I am trading an edge, but anything is still possible. I have a real Job, but trading is my life's work.

I want to say good luck and sorry...but it is not appropriate here. Your "reality" is well thought upon and your post is complete. I do not know if it is your beginning or end and if I should fear the place you have arrived.

Confused
Michael B.

Quote from Broken dreams:

I'm sure 95% of you don't want to read this post because you're all still chasing your dreams and don't want to be reminded on how tough of a game trading is, but this is my reality.

I've been trading since 2001, and I feel like I've been living in a bubble world all throughout this time. Like everyone, I had big dreams in the beginning, and I thought trading was the avenue to help me get there. But eventually, my big dreams transformed into merely just fantasies of decent living. When even those delusions didn't materialize, my aim was just going for basic survival.

I've been living off reserves for awhile, but they're running out, and it's just time to move on. So my decision to hang it up was not an overnight decision. I did try and give in my effort, but it just wasn't working out. If I don't quit now but continue to achieve the same unproductive results, then I'm just continuing the denial.

I'll be 30 soon, and I feel I've aged so much in these last five years. And what's really sad is that I have grinded it out but have really nothing to show for it. Right now, I don't really know what to do or how to even get a job. I have a econ degree, but I haven't had a real job in five years, and I don't even know how to put that down. While most of my friends are already at or near the manegerial stages, I'm about to write resumes to compete for jobs against recent college graduates. It's going to be an extremely humbling experience, but I don't really know what to do.
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Quote from FZR:

While you may feel that you have wasted the past five years, if you are totaly honest with yourself you'll see that you really have learned alot about yourself, the markets and your emotions.
More...

Whatt did you learn FZR from your 3 years of failed trading attempt?
 
Ripley,

I learnt many things based in 3 main categories:

1) Cause of Trading Ruin - Fundamental issues which ultimately guaranteed my failure. Including but not limited to money & risk management, market structure (options exchanges in particular for me - relating to bid/ask spreads, transaction costs, players), documentation & plan (business plan, accountability, measurability, clear goal setting), execution of plan, etc. All of these items can be quantified, understood and accounted for I believe.

2) Who I am - Personal issues which translate to how I interact with the market. Reactions to success, failure, uncertainty, fear, greed. What and how I value - money, time, people, stress, certainty/uncertainty.

3) My Passions - What drives me, excites me, and why. Where are my natural talents, weaknesses, who am I and who do I want to be.

To be honest I am still learning things from my past. 7 years later, I am still trying to distill what I've learnt and re-evaluate all the above. I am now in a corporate setting am have been very successful, however I feel my passions may be elsewhere - trading.

I definetly felt discouraged and that I wasted time when I left, but truly believe it was time well invested, and just hoped to share that with 'Broken'.

Hope I at least partially answered your question Ripley.


Cheers,
 
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