How much richer or poorer are you since you started trading?
- Thread starter kxvid
- Start date
My return on my trading is quite low - slightly positive. However, thinking a lot more about my money situation over the last couple of years since I started trading, has greatly improved my overall financial situation. My non-trading income has doubled. My savings have increased signficantly. My credit rating has been improved greatly. My debt is almost entirely paid off. Etc.
Something to consider, I think: has your trading improved your overall financial situation or made it a lot worse?
Something to consider, I think: has your trading improved your overall financial situation or made it a lot worse?
Not sure why I'm responding as I know how the "elites" in here think and behave. I guess that's part of the richness I've attained... I don't give a rats ass what they say, think, believe, or do!!
I day-trade futures only. Flat end of day. On occasion I may swing a minimal soft or ag position, but I mention just for completeness. By and large , I am flat end of day. My standard size account is 20K. Account throws off an average of 7.5% per day. Account is reset to standard size at a minimum every 2 weeks. More often as I deem appropriate. You can do the math you regard important.
My blowups included a 5k futures account in '94 and a 1k forex account in '02. So my current standard account size is 3.33 times my schooling cost.
I donate 5 trading days per year to charity; 4 to local, 1 to national.... also part of the richness I've attained.
Trade On!
I day-trade futures only. Flat end of day. On occasion I may swing a minimal soft or ag position, but I mention just for completeness. By and large , I am flat end of day. My standard size account is 20K. Account throws off an average of 7.5% per day. Account is reset to standard size at a minimum every 2 weeks. More often as I deem appropriate. You can do the math you regard important.
My blowups included a 5k futures account in '94 and a 1k forex account in '02. So my current standard account size is 3.33 times my schooling cost.
I donate 5 trading days per year to charity; 4 to local, 1 to national.... also part of the richness I've attained.
Trade On!
Poorer. Taboo? Nobody knows anyone personally here, so who cares. Trading options and futures (including currency futures): -99%. Remaining 1% left not enough for any position.
Not as bad in stocks. How lose? Excessive forecasting and not respecting the trend, emotional trading, too much leverage, trying to trade using astrology, lack of ability to quickly get out of losers, inability to hold on to winners, listening to gurus, trading on sentiment while not respecting the underlying trend, list goes on ... I could probably write a book on how to lose in trading, but who would read it? How about an anti Larry Williams book, "How I Lost Thousands Trading (You Name it)," or TWWMM (The World's Worst Money Manual).
Losing money is one thing. Far worse perhaps is to lose health and memory cells due to chronic stress (from watching price quotes 24/7), even affecting job performance. Then you are left with nothing.
Quote from tradewiz50:
I guess the hole in the bills at the bottom left is your current draw down?
