Do you believe these stages are quite common and logical?
- Thread starter OddTrader
- Start date
Probably some profitable status would be only short shelf-life. 
Q
"How long did it take for you to be profitable in daytrading?"
http://www.elitetrader.com/vb/poll.php?s=&action=showresults&pollid=2400
http://www.elitetrader.com/vb/showthread.php?threadid=70105
1 month 24 7.92%
6 months 47 15.51%
1 year 23 7.59%
2 years 21 6.93%
3 years 19 6.27%
4 years 11 3.63%
5 years 19 6.27%
6 years 5 1.65%
7 years+ 18 5.94%
I am still working on becoming profitable 116 38.28%
UQ
Q
"How long did it take for you to be profitable in daytrading?"
http://www.elitetrader.com/vb/poll.php?s=&action=showresults&pollid=2400
http://www.elitetrader.com/vb/showthread.php?threadid=70105
1 month 24 7.92%
6 months 47 15.51%
1 year 23 7.59%
2 years 21 6.93%
3 years 19 6.27%
4 years 11 3.63%
5 years 19 6.27%
6 years 5 1.65%
7 years+ 18 5.94%
I am still working on becoming profitable 116 38.28%
UQ
Nah. Well OK, the majority will run thru these stages over time. I have had two careers already each ten years in duration (boorrriing after a while) and I have certainly gone through some education and experience, I learned along time ago that I can learn from others and avoid their mistakes.
I don't beliecve in destiny, which is what these stages represent. You can skip the majority of this kind of thing if you wish to be a student and then, do your job.
Of course this does not maker one instantly profitable either. There is a curve, but we can come up it fast
Good trading!
I don't beliecve in destiny, which is what these stages represent. You can skip the majority of this kind of thing if you wish to be a student and then, do your job.
Of course this does not maker one instantly profitable either. There is a curve, but we can come up it fast
Good trading!
I first thought this thread was crap but actually seems fairly in tune with a traders progression after giving it a second looks. This is me:
Year 1- Stage 1,2 straight to 37 skipping all inbetween
Year 2- Back to stage 7-14 and give up
Skip year 3
Year 4, 5- Stages 15-24 and give up again
Skip year 6
Year 7, current year- Stages 19-21
Total earnings during the period
Account size start- 7K
After first 8 months- 205K...not a typo..205K
End of year 2 account at 60K
End of years 4-5 account at 40K
Currently account flat at 40K.
Good news is I'm still up. Bad news is I haven't been profitable in 6 years. However, I have stopped the bleeding.
Round and round we go.
Most important lesson learned:
The only thing more expensive than education is lack of it. That, and confusing skill with dumb fucking luck.
The journey continues!
Year 1- Stage 1,2 straight to 37 skipping all inbetween
Year 2- Back to stage 7-14 and give up
Skip year 3
Year 4, 5- Stages 15-24 and give up again
Skip year 6
Year 7, current year- Stages 19-21
Total earnings during the period
Account size start- 7K
After first 8 months- 205K...not a typo..205K
End of year 2 account at 60K
End of years 4-5 account at 40K
Currently account flat at 40K.
Good news is I'm still up. Bad news is I haven't been profitable in 6 years. However, I have stopped the bleeding.
Round and round we go.
Most important lesson learned:
The only thing more expensive than education is lack of it. That, and confusing skill with dumb fucking luck.
The journey continues!
The 38 rules can be, I suggest, condensed into one rule called fantasy & discovery. It operates for the amateur world of trading.
First there is the fantasy of success or untold success and then there is the discovery that this fantasy is not reality. Thats the story for everyone or certainly most. The process may take months or years .. but thats it.
First there is the fantasy of success or untold success and then there is the discovery that this fantasy is not reality. Thats the story for everyone or certainly most. The process may take months or years .. but thats it.
