I figured out 10% of traders

[joebonds]

Quote from Algorithm:

Fun should not be on the list of criteria for anyone that wants to make consistant money trading.

If there's no fun in trading and it's a grind to you, then I hope you make as much money as you want in a very short period of time. When you get there, just retire.

Or maybe then you'll realize that when you don't have to worry about the money, trading becomes a game.

'The market' is indifferent as to whether you make a nickle or a billion. 'The market' is made up of a shitload of guys just like you. You play the game better than them--you win. You don't--you lose.

 

[trader07]

Quote from insert:

anyone who is a moderator is not a good trader

think about it and tell me WHY I am wrong or not

They spend too much time posting when they should be studying and trading the markets.

 

[teck]

Good point....been trdin off and on since mid 90S I have every book out there, been in every room out there- in all this time have not found a guru or mod that can make money and show with a varifiable track record they can make money with their calls (stocks),or that I can make money taking their calls. Reading a recent book on war one of the first rules.....judge an alie by what they can do- not by what they "say" they can do .

 

[rdm239]

Quote from Algorithm:

Go hire a hooker if you want some fun. Fun should not be on the list of criteria for anyone that wants to make consistant money trading.

Good Luck!

if you are not having fun i feel bad for you. i think a big part of getting truly good at something is to enjoy it and find a way to have fun doing it. There are many ways to make good money in the world and not subject yourself to this.

Although this is a forum and people can talk about whatever they want I really think a lot of people just come on this thing to sh*t on other people. I have tried to start a couple threads about actual trading and what people are seeing in the markets, but I never get any kind of response. I think getting better at trading requires people to keep learning and stay positive.

 

[Stealth Trader]

Quote from mde2004:

actually make money while the other 90% post on ET all day trying to act like they know what they're doing.

And yet YOU are posting here during market hours. Thanks for clearing up which camp you are in!

st

 

[dandxg]

Quote from Algorithm:

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!

Your post reminds me of good advice I got from my friend that had been full time trading for 2 years before I started. He said he analyzed post market how the day went and how traded vs. all of his set ups. He keep all of these stats and charts printed out. I said man that is boring. He said, and it reminded me off my hard work that lead to success in sales.....it's the work that you don't want to do that makes the difference between the suckers that lose and the traders that make money. Now when I don't wan to update my homework, I ask myself do I wan to be a losing sucker or on my road to success.

 

[hazardfish]

That guy gave good advice. If you never go over your trades and then make rules and adjust strategies to compensate for bad decisions, one never learns from their mistakes.

The best most profitable traders lost the most money in the beginning and took hard licks, but stuck with it and figured out what they were doing wrong.

For those who aren't lazy, trading is great, but it's strange how folks, especially educated folk seem to think it would be easy?

 

[azukar]

Quote from Algorithm:

Go hire a hooker if you want some fun. Fun should not be on the list of criteria for anyone that wants to make consistant money trading.

Good Luck!

It's actually quite boring when done properly, especially during low volatility periods.