Are you a profitable trader ?
- Thread starter mm2mm
- Start date
you know you are getting old, when more than 50% of your thoughts are about the past.
that is why I like forex
everything is new to me
and there is so much to learn
I don't sit around, thinking about what happened years ago
But when I get crazy ideas, I do remember what happens to you when you get crazy ideas
the funny thing is, Pimco got a little premature on selling their bonds (didn't we all?)
and they just put all their cash in Swiss Francs
in retrospect (20/20 hindsight) that looks like it was a pretty good trade
I wasn't even trading forex back then
but I know "Those were the days"
short the dollar
short the eur
that's what I have on now
but it's not easy like it was back then
that is why I like forex
everything is new to me
and there is so much to learn
I don't sit around, thinking about what happened years ago
But when I get crazy ideas, I do remember what happens to you when you get crazy ideas
the funny thing is, Pimco got a little premature on selling their bonds (didn't we all?)
and they just put all their cash in Swiss Francs
in retrospect (20/20 hindsight) that looks like it was a pretty good trade
I wasn't even trading forex back then
but I know "Those were the days"
short the dollar
short the eur
that's what I have on now
but it's not easy like it was back then
It seems to me from what I have heard and read so far, almost 100% of the traders who are successful and are constantly profitable, blow up their account at some point and go to square one. I don't mean that they don't make any money in the market anymore and stay flat. I mean they lose everything. That is scary.
Marcel Link in his book "High Probability Trading" says it takes 3 to 7 years but I would also watch the youtube video "Why Traders Fail" by Alexander Bender, the two combined will give you a realistic idea.
This doesn't mean there aren't exceptions i.e. traders becoming profitable in year one...
Best of luck!
My earliest trades were profitable. About 40 days into position trading stocks I could do it on my own.
No.
I have a paradigm and the complete appications. All take the full offer of the market. I use criteria, filters, formulae, rules and strategies. I keep my maths in libraries specifically segregated for the Paradigm, and position trading stocks, intermediate term sectors and intraday trading indices. Four types of operators are used to interconnect the parts. A C++ basic language was used to create the sets of processors so they are used in a RDBMS type construction that is user freindly based upon instruction panes and using any previously built named construct. Therefore you can "read" the coded language even if you cannot program the older languages.
The most complex system completed for intraday trading indices has 56 elements divided into three subsets: price (10), volume (11) and End effects (35). The end effects are divided into 10 subsets.
My research shows that I have taken a unique unduplicated path. There is no way to bridge from another approach to the one I have described.
It can take years just to acquire the knowledge and to get a point where you have filtered all the garbage out there. Funny how people think they can just start trading and be succefully after reading a book or a few forum threads, when a surgeon for example won't be allowed to touch a patient until many years of learning. Why should trading be any different?
)
It took me about 6 months. The key is to study, study, study! Start trading 100 shares and see if you can cover commissions. If you are successful slowly increase your share size.