How much money and time have you spent so far in trading? 2016 edition

lawrence-lugar said:
Trading is not so much about technical learning, as it is more about becoming wise about life and the world
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I'm having a hard time making sense of this. Legal trading is about executing a profitable system. I do agree about becoming wise about yourself though.
 
When I started with long term stocks, I was plain very lucky, no computers for home, commissions very high and did charts by hand at just before start of bull market, so you bought and held on for handful of years. Learning how to day trade was expensive, wasn't good at computers, didn't understanding computer language or even myself and many weaknesses I never knew I had, lost like $105k, took seven years. I think you can never learn enough about charting cause charting, good amount of it is based on human emotions. At some point, you can lose parts of yourself and how you view life and the world, what is up-I think down, what is down.
 
profitlocker said:
I'm having a hard time making sense of this. Legal trading is about executing a profitable system. I do agree about becoming wise about yourself though.
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If you analyse deeply of any good trader's history/book, you would see even they had a successful system, they were failing because of their indiscipline, lack of control over greed/fear. So ultimately, once you know about yourself and fix the issue, you are on the road to nirvana and here with $ may be! :)
 
Visaria said:
Funny, just the other day i was thinking that i still don't know anything after 20 years.
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same thing. learning something everyday. looks like majority of the posters here figure out everything long time ago..poor me..still waiting for an answer from OP about ability to make enough money for living and make them in ANY market(bull or bear)
 
I had a Robinhood account with daytrading abilities since around Brexit. I lost money on the gap down after and lost money holding a short position right afterwards. Since then, I've lost about 25% of my portfolio attempting get rick quick schemes with equities, futures, and forex. Suffice it to say I'm taking it much slower now and learning as much as I can and restricting myself to intraday SPY plays. Luckily I am in my 20s and this money was a boon from a commercial acting gig.
 
CyJackX said:
I had a Robinhood account with daytrading abilities since around Brexit. I lost money on the gap down after and lost money holding a short position right afterwards. Since then, I've lost about 25% of my portfolio attempting get rick quick schemes with equities, futures, and forex. Suffice it to say I'm taking it much slower now and learning as much as I can and restricting myself to intraday SPY plays. Luckily I am in my 20s and this money was a boon from a commercial acting gig.
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Sounds like a perfect time to set up a paper account with the same amount of money as is in your real account and trade only in paper until something starts to click. Especially considering those trades that look good on paper but asking honestly if it was real money could you stomach it. I'm a big believer in paper trading to find that kind of trading that suits your personality and life style. But keep resetting your paper account to what is left in your real account and make the paper trading real. That is how to discover certain things that seem to work for you in all different kinds of markets like bull,bear,or chop. I like your situation. That boon money could last a lifetime, or it may someday be considered tuition expense in the trading school.
Plus, SPY is a fantastic vehicle for you because if you ever get stuck with a long position that gets away from you, you can always claim you are just a long term buy and hold investor. Good Luck.
 
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