For some Some traders- Dreams are meant to be just Dreams!

[trader99]

This is a great article by Steve Pavlina that applies really well to all these PT AND FT traders and trader-wannabes.

http://www.stevepavlina.com/blog/2011/04/are-you-faking-progress/

Are we really making great progress or just deluding ourselves after all these years? Yes, I made decent coin in 2015. 2016 I'm fighting back to even. But this is after a decade of combo FT/PT trading? Was that time well spent?

Even in 2015 when I made "decent coin" for daytrading the results were very small compared to my FT salary! I mean perhaps the comparison isn't quite fair since it takes money to make money. Obviously, I can't expect my salary return from modest swing and daytrading accounts.

That's the question I sometimes wrestle with.

Do you feel like you are making REAL progress or just FAKING progress and deluding yourself?

thank goodness I'm not depending this for my livelihood...

 

[lawrence-lugar]

Are we really making great progress or just deluding ourselves after all these years?

Do you feel like you are making REAL progress or just FAKING progress and deluding yourself?

thank goodness I'm not depending this for my livelihood...

Well, it's kind of no secret that very few traders will truly succeed in this game. -- in the sense, they can make a sizeable return, and live off of it.
You been registered here since Jan 2002...in tech years, and trading years, that's like Space Light years ago.

If a trader hasn't seen the light within two, three years tops...in trading, chances are they never will

 

[Handle123]

This is a great article by Steve Pavlina that applies really well to all these PT AND FT traders and trader-wannabes.

http://www.stevepavlina.com/blog/2011/04/are-you-faking-progress/

Are we really making great progress or just deluding ourselves after all these years? Yes, I made decent coin in 2015. 2016 I'm fighting back to even. But this is after a decade of combo FT/PT trading? Was that time well spent?

Even in 2015 when I made "decent coin" for daytrading the results were very small compared to my FT salary! I mean perhaps the comparison isn't quite fair since it takes money to make money. Obviously, I can't expect my salary return from modest swing and daytrading accounts.

That's the question I sometimes wrestle with.

Do you feel like you are making REAL progress or just FAKING progress and deluding yourself?

thank goodness I'm not depending this for my livelihood...

I think if you are making more money 4 of 5 years and should you have an off year, didn't lose more than 10%, you doing better than most. If each year you make slightly more than previous years, then that is a trend. And those who are not keep saying "I am so close". I have an acquaintance who for 25 years lost money trading, he refused to back test, refused to get part time job, I'd let him come over to trade next to me, he could of taken same trades but would tell me why they would not work and do the opposite, think he had 2 winning days in like 50. So now if is over 66yo, living in HUD, SNAPS, SS# pays him $300 a month with his wife, at least now he finally stopped trading. He never had a job in years I have known him and he wonders how he got this way, blaming HFTs or program trading or scam vendors, he always had new cars, vacations and would laugh at me as I be home back testing.

I have seen so many fail through he years, they risk way too much for long term and can't sit on their hands to get the bigger trends. Then in day trading, they risk way too little, never did enough back testing if any and under capitalized.

When I was much younger, working nights, it is amazing I didn't die from lack of sleep, for quite a few years, I had no life outside of nite job and studying & trading. No, I wish I never went into day trading, although perseverance made me profitable, lost a decade, the game is very challenging.

 

[dealmaker]

I am a part term trader. Well.. a little more than part- time as I always manage some time when I am doing my day to watch the marktet. You know... that does not mean I don't have the right temperament to become full time trader! But it's the lack of ability and courage that is pushing me behind like most of other part timers.

You will find no part-time trader out there who doesn’t have a desire for becoming a full time Forex trader. Everyone trading part time right now has a dream to reach the point where he or she can leave the current day job and start trading for a living. Of course, it is a legitimate fantasy that a few traders will eventually achieve but others will probably never find such opportunity.

Answer honestly! Right now, how much fund do you have in your Forex account? $ 500? $ 1,000? 2000? Can you add more to it? Remember, pips don’t equal much when converted into cash and not even leveraging with that amount of money is going to make you self-sufficient any time soon. Brokers don’t leverage more than what you have on hand to lose.

Look! If you still love to go on with small Forex account, don’t have confidence enough to quit your day job. You can focus on slowly building that amount up by managing your risks. No need to try trading hard to become full time trader. Trader like us should be happy if we can earn a little from Forex. I mean, who wouldn't love to earn something extra with what he is earning? For us, this is what we should call professional!

Put the work in, pay for your education ( trading losses), reflect on your trading experience, make the necessary adjustments and understand no strategy works all the time ( be open minded) then it doesn't have to be a dream....

 

[trader99]

Well, it's kind of no secret that very few traders will truly succeed in this game. -- in the sense, they can make a sizeable return, and live off of it.
You been registered here since Jan 2002...in tech years, and trading years, that's like Space Light years ago.

If a trader hasn't seen the light within two, three years tops...in trading, chances are they never will

Well, as I've said, I left trading for a while went back to Corporate jobs. Since 2004 I've traded only PT and some years I never even traded. Only recently have I actively traded again. So, it's not like I have been trading continuously since 2002! LOL.

But there's definitely some wisdom in your comments. The reason why I stuck with it is because I noticed a trend in my P&L. When I started out, I was CONSISTENTLY losing money. Day after day. Then later on, I got better. I actually had small sized winners. Then medium sized winners. And now, I occasionally have winners that are greater than my high paying salaried job month's pay in the tech sector!

Unfortunately, I still have poor risk management. I don't have a problem making money. I have a problem keeping them. If I were stuck in 2001-2002 trading results when all I had to show for were consistent losses and pennies for winners then it would be wise to give up.

But there's definitely been HUGE improvements. But there's definitely also plenty room for improvements.

And since I don't do this full-time, I can take it slow. My livelihood does not depend on my trading.

 

[birzos]

For some Some traders- Dreams are meant to be just Dreams!

Rubbish, +14% of account today on two futures trades with @YM and @QM at 1mn timeframe with 5:1 P&L risk.

Dreams only fail if you stop fighting by not knowing what you are doing.