I figured out 10% of traders
- Thread starter mde2004
- Start date
I dont know what I am doing. It is a random walk isn't it? But, with little proven strategies, you can make some money. Just have to wait for that near perfect set up, they dont come that often. Thus, dont overtrade. Although I make enough to pay the bills. And in my situation all I need to make is 5pts. on YM that will include covering the commission and I am happy. My parents pay for the rest!!!!!
Slow and steady will win the race. You dont want to have high volatility in your account. RIght??
Slow and steady will win the race. You dont want to have high volatility in your account. RIght??
OP,
You're onto something with your statement. You are seeing that many, if not most "traders" truly never become successful due to the fact that they don't ever really put 100% into the effort.
Of those that approach trading with proper capitalization, expectations, attitude and intelligence.....
I bet a greater percentage of those people succeed. The hard truth is that most think its an easy way to SURE RICHES. The reality is that its VERY DIFFICULT and TAKES A LOT OF TIME, EFFORT AND ABILITY.
Unfortunately the average human is adverse to those requirements and thus the failure rate. It's like entrepreneurialism, it all sounds good until you really roll up your sleeves and do the work. Hence the reason most would rather just follow all the other lemmings to their assigned cubicles on a daily basis and get what some middle manager feels like awarding them with on a yearly basis.
ET is riddled with true pretenders and very few contenders, you know, not very different from life in general.
Good Luck!
You're onto something with your statement. You are seeing that many, if not most "traders" truly never become successful due to the fact that they don't ever really put 100% into the effort.
Of those that approach trading with proper capitalization, expectations, attitude and intelligence.....
I bet a greater percentage of those people succeed. The hard truth is that most think its an easy way to SURE RICHES. The reality is that its VERY DIFFICULT and TAKES A LOT OF TIME, EFFORT AND ABILITY.
Unfortunately the average human is adverse to those requirements and thus the failure rate. It's like entrepreneurialism, it all sounds good until you really roll up your sleeves and do the work. Hence the reason most would rather just follow all the other lemmings to their assigned cubicles on a daily basis and get what some middle manager feels like awarding them with on a yearly basis.
ET is riddled with true pretenders and very few contenders, you know, not very different from life in general.
Good Luck!
Quote from rateesquad:
I dont know what I am doing. It is a random walk isn't it? But, with little proven strategies, you can make some money. Just have to wait for that near perfect set up, they dont come that often. Thus, dont overtrade. Although I make enough to pay the bills. And in my situation all I need to make is 5pts. on YM that will include covering the commission and I am happy. My parents pay for the rest!!!!!
Slow and steady will win the race. You dont want to have high volatility in your account. RIght??
anyone who is a moderator is not a good trader
think about it and tell me WHY I am wrong or not
Your insight is not particularly original. It could be as easily stated as the difference between those who talk the talk and those who walk the walk.
I am yet to see a full time trader fail (If he had the audacity to keep at it for 2-3 years without making money OR not making enough money)
Also, I am yet to see a part time trader who thinks that trading can supplement his primary source of income Succeed (I have seen many part time investors make money)
Trading as business is Great since it doesn't require much money to start with - BUT it requires that you invest a LOT of TIME and PATIENCE.
RM
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Excellant points.
And perhaps 2 of the most amazing consistant patterns in all of trading/investing;
is rookies ego -picking/predicting tops/bottoms
& ignoring proper position size
100%. If you are making money why would you be on here during market hours? Why would you share your winning edge? This place is to advertise, the days of it being educational are gone. You get some good posts but most are just trying to boost their own confidence. All who say they made this that whatever. Post your runs/1099/k-1. If not it's bull shit. Good observation OP. Me I don't care and i fear nothing, or any situation. Bring it the F ON.