how long did it take you before you "got it"?

[jinxu]

http://www.elitetrader.com/vb/showthread.php?threadid=73059

Hello Everyone,

I was just curious on how long did it take everyone before they "got it" - Meaning, was able to make even a little profit on trading. My mentor told me it took him 4 months before he did and then started making around 5k to 10k a month. I understand that it's an ongoing learning process.

Thanks

This guy could've saved a lot of time if he had just created a poll. For the poll answer how long total from when you first got involved with trading to when you started becoming profitable. If you still haven't figured it out, just choose how many years you are in or you can choose the last option. If you're a newbie that just recently started getting involved, please choose the first option.

Thanks. And if you don't mind, please share your stories.

 

[neutrino]

This and the other thread ask the wrong question. Being profitable doesn't mean you "got it". I was profitable from my very first trade and so far never had a losing year. But being profitable from the start I attribute to luck rather than skill. My strategy simply fit the market conditions. Some people made huge amounts of money in the dots com years, only to give it back when the bubble burst. So it was a little difficult to vote in the poll. I learned a lot of lessons through the years, and thankfully I did not pay a big price. So I am still learning, and I know the next lesson is around the corner and I may have to pay back with my profits for it. I voted 1-2 years, because I think they strengthened my belief in my trading principles. So, weather you make money or not, even for a period of 1-2 years, doesn't mean you did get it or didn't get it. There is a lot of luck involved. Trading is a process of constant adaption, but as long as you have your general principles and rules, all that's left is staying disciplined and willing to adapt and learn from your errors. It's also possible that you are not well fit for trading, just like not everyone can be a good actor or an athlete The truth is - you can never know for sure, you are always a student Your only power is in the choice - what would you like to do...

 

[Billy Thunder]

Either you have it or you don't, time solves nothing.

 

[GG1972]

When I first started didnt really have a clue even though I d read almost every book every blog out there that I could possibly get my hands on. Tried every indicator, a few "gurus", few news letters. One of the better ones was HCPG http://highchartpatterns.blogspot.com/

One thing that clearly stood out was how much snake oil is out there with salesmen to go with it. I can frankly say that I was blindsided with that for the first two years or so. Then when I finally started doing my own thing-finding patterns, own technical analysis etc things became quite clear but still for me personally working on discipline was the hardest challenge. Its funny that I had the same problem while working out and once i got trading down to a tee my workouts became better too

I dont know when or how I might be challenged but so far not enough volatility according to some real pros on these boards hasnt really affected my system. I ve looked that over and over to see if thats a challenge i might have. I am always looking at what might be a possible challenge to my system cause thats my main worry longer term. Such as changes in taxes etc

Learning how to trade is more of a journey rather than a destination-that's why you never "get it" cause there is no destination. But it can be really profitable-you work your own hours, limitless creativity etc etc

 

[jokepie]

you dropped 2 - 3 yrs option ...

 

[neutrino]

Quote from GG1972:

Learning how to trade is more of a journey rather than a destination-that's why you never "get it" cause there is no destination.

Couldn't have said it any better

 

[cantrade9301]

you'll always be learning. just find a good broker, start off small, and take advice. slowly but surely you'll get "there".

 

[lindq]

Quote from Billy Thunder:

Either you have it or you don't, time solves nothing.

Could not disagree more strongly.

Time in the saddle is everything. That's my experience, and from the results of this poll (good idea), that's the experience of others.

 

[GG1972]

Quote from Billy Thunder:

Either you have it or you don't, time solves nothing.

If you are constantly improving ( your system, your psychology etc) then you are totally wrong.

If you keep on repeating everything the same way over and over then you are absolutely right.

Getting up after falling is the hardest thing-staying down after falling is easy as anything.

 

[neveral0ne]

Almost 3 years ( In march) finally able to limit risk, catch big(er) winners, less emotion, slowly slowly getting to where I want to be.