That's bullshit. The goal is to make a shitload of money and to trade consistent is a requirement to achieve that goal. If you're trading to trade...you actually lost the reason why you started out...don't fool yourself!
How much money FROM TRADING do you need to make you happy?
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That's bullshit. The goal is to make a shitload of money and to trade consistent is a requirement to achieve that goal. If you're trading to trade...you actually lost the reason why you started out...don't fool yourself!
Focusing on becoming consistent first though, without thinking about making the most money, can greatly improve one's chances to make any profits at all in the trading business.
If one thinks more about the money than about becoming good consistent trader he/she likely fails.
Would athlete be good athlete if thought about the money he's going to make more than about being the best in his sport?
Quote from davidmaria1:
I had more money when I was 18, making $4.00 an hour, without a care in the world.
Money is not everything.
I have TONS more money than when I was young, but life isn't as much fun...
Used to be I could play several sports, my knees didn't hurt, didn't have to "watch my weight", could stay up past 10PM, and my dick was always hard.
Cortisone
HGH
Caffeine
Viagra
Quote from volente_00:
Cortisone
HGH
Caffeine
Viagra
Yeah, boner drugs. When I was young the vibrations of riding the bus to school always left me holding a book over the front of my pants.
Consistancy and discipline is what is important. If you got that and a liquid market then $$$ will follow.
If you start off trading using real money (like me) then you are an idiot. Start on sim. When consistant move to 1 contract live, then if still consistant move to 2 contracts, etc until you reach the amount you want to make per year. Simple.
I was on real money. Lost 40% of my account (of course that includes commission, data fees for around 4 yrs and 1900 trades). So overall, could have done worse. Now I'm on sim and posting in my journal on this site. I feel this will get me to where I want to be. Someone gave me sh*t for being on sim but he is probably just another loser.
I don't even think about the money any more. That is what is important. Simply because the money will follow.
Patience is a virtue.
If you start off trading using real money (like me) then you are an idiot. Start on sim. When consistant move to 1 contract live, then if still consistant move to 2 contracts, etc until you reach the amount you want to make per year. Simple.
I was on real money. Lost 40% of my account (of course that includes commission, data fees for around 4 yrs and 1900 trades). So overall, could have done worse. Now I'm on sim and posting in my journal on this site. I feel this will get me to where I want to be. Someone gave me sh*t for being on sim but he is probably just another loser.
I don't even think about the money any more. That is what is important. Simply because the money will follow.
Patience is a virtue.
"Discipline", yes. "Consistency", no.
Just as in marketing, "80% of profits come from 20% of sales." Similar in trading.
Oh sure, we'd all like to be consistent... but rarely achieved.
Better to accept that you're likely to NEVER be "consistent".. and seek to "make hay while the sun shines, limiting losers with stops".
It's not a matter of consistency but rather, "how big is your pile"? NOT required it be accumulated "consistently".
"Consistency" is not really a requirement.
I recall back in the late '90s of making $20 Million over about 4 years. All other "consistencies" may not be relatively comparative.
Of course, you want to be consistent about how you risk your capital, but "consistency of outcome" is highly variable.