How many years to get pro
- Thread starter AgatheYou
- Start date
It's a good read
The only technical aspect that was a bit confusing was it appears he picks bottoms and tops which went against his going with the trend mantra..
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Good post on profit;
glad i did not read your post 7.77 years ago. I know now= i'll never be a professional football pro
Trading can be brutal, more brutal than a charging bear, or a mad TX longhorn.
Pro investor may help some; small game + big game hunting can help.
If one runs out of bullets try to do that early or on small game/gamebirds.
Bottom line UK fund manager warned Jack Schawger, dont run out of bullets or the then the elephant comes by.
My comments dont apply to penny stocks or cr*p markets;
partial disclosure, i did get some free horse cr*p, years ago. But that was free volume from a neighbor, not a commercial market then
He is a mediocre technician. His strength is cutting losses and running winners and taking his signals without hesitation. I am not a fan of his trade plan but he can trade. And he well articulates in the book the challenge of overcoming natural instincts and doing the difficult.
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So for the suspicious minds here I will give a bit more background. Yes I just subscribed because I thought entering a community could be a nice idea and yes I am a female, they do exist in that world
I am actually in my three years in the trading world. First year has been mostly learning all the basics and trading there and there. I am pretty committed and work many hours daily in trading: reading books, watching instructive videos, etc . So far I have integrated all the technical part of entering and exiting a trade and if I only ‘listen’ to what I know I feel I could succeed. But the psychological part is messing with me and the more I try to solve it the more I get in trouble on the market. Not bad troubles as I have lowered my exposure to little capital. I also know that the psychological part is the problem of many traders and that I am not trading on the easiest level as I am doing scalping (5M) but it is what fit me. I tend do get impatient with longer positions.
Part of me would like to know where I could be on the road of becoming professional (which for me means someone that live of trading), I know it is a question that is vague as every persons are different but still an average would help. Like if many persons would respond it would give an estimate that is still nice to have because for now the road doesn’t have any light and the walk is groping. That was the initial idea of my question.
You need a roadmap.
You need to know how to perform.
You need crystal clear buy and sell rules.
Why ? Where ? When ? What ? How much ?
You need to know what underlying to trade,
Because it provides favorable opportunities
You need to know what strategy to trade,
Because it captures mispriced risk returns
You need to know how to manage the trade,
Because new information updates the value
Psychology is only one source of errors,
But you need to impede and correct any deviation from perfect play.
It takes time + effort to adjust but that’s what it takes. That’s what a professional is. He try his best to play flawlessly a winning plan. If he makes a mistake then he try to minimize its consequences.
She / He has the right goals, strategies and tactics in mind depending on the situation + he played them many times in virtually all possible conditions.
Once you’ve managed to land a plane a thousand times EFFORTLESSLY then we might call you a professional.
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Great post Sek.
Thanks. I’d just add …
Try to do more of your best trades and less of your worst ones. Needs to review those and find commonalities.
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Hi everyone,
It would be great to have the feedback of some professionals on the time it took to finally get profitable in a regular basis and being able to trade as a professional. I find that very few professionals in books or youtube channels talk about the time they needed at first to adjust their strategy/psychology to finally get to succeed. We generally just know they struggled some time but it get rarely more specific than that.
I know it is different for each person but it would be nice to understand the average time.
Thanks
Most people, even on ET, never become profitable.
Try to develop a personal relationship with someone who is doing what you would like to do and find a way to add value to their life, or at least see if they will have honest chats with you.
Avoid gurus-for-hire as they are mostly hustlers.