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

Simples · Dec 2, 2016

6 years. 2 first most intense, but just learning trading ABC and voodoo. Probably over 4k hours analyzing and coding. Hate to trade manually, and lost my biggest chunk trying to do it some years ago. Could be I'm better prepared now, but will never do it without proper backtests and psychological backup. Daily TF. Have automated it all, but only recovering from last ATL since June. Could be that I'm now floating, but won't make any records. Am glad if I can continue to break-even, as that is a milestone.

Years: 6
Cost: USD 20k (including moronic attempt at longing '99 top as a first toe-dip in the markets and forgetting to renew triggers)

Bob111 · Dec 2, 2016

Simples said:
6 years. 2 first most intense, but just learning trading ABC and voodoo. Probably over 4k hours analyzing and coding. Hate to trade manually, and lost my biggest chunk trying to do it some years ago. Could be I'm better prepared now, but will never do it without proper backtests and psychological backup. Daily TF. Have automated it all, but only recovering from last ATL since June. Could be that I'm now floating, but won't make any records. Am glad if I can continue to break-even, as that is a milestone.

Years: 6
Cost: USD 20k (including moronic attempt at longing '99 top as a first toe-dip in the markets and forgetting to renew triggers)

what top you are talking about? the top on the nasdaq was in march of 2000. that's when i got into this trading crap. the fun lasted 3 days after i bought some mutual funds. then my broker starts hiding from me.

lesson learned. big time

Simples · Dec 2, 2016

Bob111 said:
what top you are talking about? the top on the nasdaq was in march of 2000. that's when i got into this trading crap. the fun lasted 3 days after i bought some mutual funds. then my broker starts hiding from me. lesson learned. big time

Some obscure stock. It's not all about indices.

Bob111 · Dec 2, 2016

Simples said:
Some obscure stock. It's not all about indices.

oh.. at least i was smart enough to diversify

sort of

alfa8 · Dec 2, 2016

Lost quite a bit between losses, blown out accounts, and education; in excess of 100k. however the time spent on research tops all the expenses.

been trading full time since 2012; and being profitable 3 years out of 4.

As another user mentioned earlier; I have learned a lot about myself and about life; probably more than about trading. I discover that I am undisciplined in many occasions..

and that never giving up is one of the secrets of my success.

SimpleMeLike · Dec 2, 2016

Bob Brown said:
This question is for everyone: If you are not yet successful, how much time and money have you spent so far? (books, courses, etc.)

~Bob

Hello,

I am still not profitable. So far spent about $1000 in study material and systems and lost about $6000. I been trading futures on and off for about 3.5 years. Lately studying and practicing alot.

Ryan81 · Dec 3, 2016

Never blew out an account.
Never spent a penny on any books or courses or "training" -- My opinion is that "training" or "coaching" for trading is largely a scam. The most valuable "training" is simply by doing it, learning by doing. Nobody else can teach you that.
I would never say I "figured it all out", and I would be highly suspect of anyone who would characterize themselves as having "figured it all out."
It took me about 4 or 5 years before my trading results became consistently profitable and, for the most part, predictable.

java · Dec 3, 2016

Took me 13 years to blow up. And that was 13 years of professional suit and tie trading, no salary, just cap gains, with a very nice lifestyle. And it all blew up in just a matter of days. As I look back, I don't know what I was doing, but it was not trading.

Bob Brown · Dec 7, 2016

Bob111 said:
---Me myself it cost me around 10K and took about 7 years before figuring it all out.---

what do you mean by that?

can you say that you will be able to make money (enough to live on) in any market all the time?
keep in mind that you haven't seen bear market in a very very long time. i still remember the phrase from one russian guy which translates into something like this-everyone think he is a genius during the bull market. i've seen those folks at the top of year 2000

Ah yes, I've put it too bluntly I guess. I trade Stocks now and you can always find one in bear move and one in bull move. We'll see what comes though.

Care to share your history?

Bob Brown · Dec 7, 2016

Ryan81 said:
Never blew out an account.
Never spent a penny on any books or courses or "training" -- My opinion is that "training" or "coaching" for trading is largely a scam. The most valuable "training" is simply by doing it, learning by doing. Nobody else can teach you that.
I would never say I "figured it all out", and I would be highly suspect of anyone who would characterize themselves as having "figured it all out."
It took me about 4 or 5 years before my trading results became consistently profitable and, for the most part, predictable.

Yes yes, I realize this sounded a bit nose-up. I meant exactly what you did - being (so far) consistently profitable. Sorry for my mistake and well done you! I must say I've not yet met a lot people like that, willing to do the hard work. But still, in those 4 to 5 years it must've cost you on platform fees and such, no?

java said:
Took me 13 years to blow up. And that was 13 years of professional suit and tie trading, no salary, just cap gains, with a very nice lifestyle. And it all blew up in just a matter of days. As I look back, I don't know what I was doing, but it was not trading.

Interesting. Sort of like in all those Wall Street movies hah

Are you slowly getting back now?