Are you STILL excited/happy with being a daytrader as the day you first started?

Professionals will tell you the risks,
Amateurs will tell you about the profits.


Sort of like the housing bubble, Buy now or forever be a renter!

Nobody wants to hear about the plumbing , the new roofs that need to be installed, The toilet pipes that blow up in the winter cause the heater wasn't turned on, The real estate tax $10k a year, nah.... Forget that

I'm making 100% baby! Sign me up ARM! 5% down, Make sure the closing costs are factored in as well, I ain't paying no closing costs.

We making big money baby!


#2

Discpline is not an edge, It is a basic requirement.


I eat cheeseburgers real fast cause I got an edge,
I got teef.

You got teef?????
 
Quote from Kastro_316:

Ohh please...Don't you and BlackPanther brand me as someone who does not the DISCIPLINE and drive to be a great trader simply because I am warning this kid - who borrows money from his mom to trade - about the dangers of trading. Give me a break! Not once did I say it's impossible to trade as a career! I do it!

Would you like me to say "All you need is DISCIPLINE and you can be great. Just treat it as a job, train hard and you should be fine" Well, anyone reading that will jump right into this game. Truth is, this racket is based on two variables in order for it to function. It needs people to make money and it needs people to fail.

I try not to single out people, because I hate when people single me out because of something they interpreted in a post.

Welcome to the board...If you want some info on FX brokers, PM me.

-Kastro
More...


Man.....I should have stayed a lurker!!!

1) I don't know anyone on this board and didn't "brand" anyone. I just pointed out that there was a lot of negative comments on this forum. For example: this is from two of your posts:


"The house(Market) always wins. Play long enough, you never change the stakes. The house takes you. Unless, when that perfect hand comes along, you bet big, then you take the house"

"Chances are you will fail....You might make some good cash, but in the long run, you will lose it. I use to think you could make loads of money day trading, but in the end, the odds will win. "

Call me crazy, but that sounds very negative and not coming from someone that is doing well trading.

2) You also wrote:

"Truth is, this racket is based on two variables in order for it to function. It needs people to make money and it needs people to fail."

Maybe in futures and options that might be true, but not in the stock market. It's not zero sum.....everyone can win! I know thats being pretty optimistic and simplistic, but its true.

Please don't take anything the wrong way. These boards are like the market..two opinions to everything.
 
Quote from coolweb:

Professionals will tell you the risks,
Amateurs will tell you about the profits.


Sort of like the housing bubble, Buy now or forever be a renter!

Nobody wants to hear about the plumbing , the new roofs that need to be installed, The toilet pipes that blow up in the winter cause the heater wasn't turned on, The real estate tax $10k a year, nah.... Forget that

I'm making 100% baby! Sign me up ARM! 5% down, Make sure the closing costs are factored in as well, I ain't paying no closing costs.

We making big money baby!


#2

Discpline is not an edge, It is a basic requirement.


I eat cheeseburgers real fast cause I got an edge,
I got teef.

You got teef?????
More...

Like I said in my last post.....I should have stayed a lurker.....but I would like to respond.

1) you wrote:

"Professionals will tell you the risks,
Amateurs will tell you about the profits."

Yes. I agree with you on that. My point of telling the board my "profits" was to let the original poster that there is money to be made as a trader.

2) you wrote"

"I'm making 100% baby! Sign me up ARM! 5% down, Make sure the closing costs are factored in as well, I ain't paying no closing costs."

5% down?????.....I prefer nothing down!!!

3)you wrote:

"discipline is not an edge, It is a basic requirement."

Exactly!!!! But there is only one way to find out if you have it or not. And thats to put up real money and trade. Its the trading worlds "natural selection". Those who don't have it make a career ending trade and are never heard from again. That's a huge theme for me, and if I post more on these forums I will always refer to it: The career ending trade! Its what you must avoid and there is only one way to avoid it. Be disciplined. If it sounds like I am over simplifying it, then I am sorry.

4)you wrote:

"I eat cheeseburgers real fast cause I got an edge,
I got teef.

You got teef?????"

I have no idea what this means!!!!

Sandy
 
i've not read the entire thread , but unless your profitable in both up down and sideways markets its pointless becoming a trader. Trade as much as you can in your spare time , or get a job in finance, once your confident your trading can make some $$ then take the plunge .
 
Quote from BSAM:

Volk.....

If you're $70,000 in the hole right now, then it ain't the time for you to "take the plunge" and begin full time day trading. Trust me.
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I would agree with that if he was older, had a wife, kids, mortgage and all that. But, the fact is that he is probably 22/23 years old and he has a lot time to make mistakes and recover from them. If he wants to trade I say give it a try. He is probably actually facing the less stress he will ever face in his life. Thats just my two cents, this is coming from a guy who stopped showing up for class when he started making a few bucks and ended up flunking out. I do regret that, wish I had finished up at least the semester and then just dropped out rather than get 0's and F's, but you can not undo the past, and if I could I probably would not anyway.


Brandon
 
Yeah over the years, I have posted a lot...

Hold your own and don't let these guys browbeat you...you'll do fine...

Michael B.


Quote from sandy1:

Thanks Electric,

8846 posts!!! Man that's a lot.

Sandy
More...
 
Greetings Volk and everyone else at ET!

I feel you in terms of college education and all the decision making behind it.

Here's my "story".

Being asian, my parents have the whole mentality that you NEED to find a job in order to secure yourself.

Yeah it stuck with me for a while. They wanted me to go to college etc and I did for about 3 years and I'm like it's not working PERIOD.

Sorry folks, but i've seen it way too much. Most folks that graduate will not make good use of their degree or they'll end up working at a "job" making salary never truly realizing what they are potentially worth. Hell I've seen folks who have graduated working at pizza hut.

Yes I know there are those that go that do great things also!

So my brother in law has been doing real estate for a while and he's been teaching me a few things and recently i've closed out on a couple homes racking in some cash. (Yes I still owe like 20 grand from school after scholorships etc and like another 7 in credit card debt). So it's a start and keep in mind i'm only 23.

I don't want to ever limit myself to one type of income so I'm looking towards stocks as a possible second choice.


To Volk: I would not go straight day trading with your current financial situation, however I would not give up the idea of trading on the side like some others have said as a basis to build up experience. As for schooling, that is a very tough choice.

I'd like to get into day trading eventually but there is so much to learn about the stock market. I figured i'd start by doing my homework like managing to find these forums.

Also i'm one of those hands on guys so until I do it, i'm not gonna learn it :-).



Sandy: I really like your attitude! In a good way! You will always have good and bad runs (not to state the obvious), but it's what you make of it and how you interpret it. I do agree that there APPEARS to be some negative attitudes, but i can totally respect that from seasoned veterans in the trading industry. Got to keep yourself open minded.



P.S. Sorry If I babbled about a lot of useless stuff, but I'd like to be serious about trading and looking to start somewhere. Also apologize if my grammar/sentences are heard to read :-).
 
Quote from sandy1:


Maybe in futures and options that might be true, but not in the stock market. It's not zero sum.....everyone can win! I know thats being pretty optimistic and simplistic, but its true.
More...

You should have stayed a lurker cause that comment right there says it all. I'll wait to see if you explain urself since maybe you simply omitted clarifying that. But let's just make something clear, all participants of any market cannot win, in fact, most HAVE to lose in order for it to be worthwhile for the winners.
 
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