I'm going to become a daytrader - looking for a trading group / network

Grandluxe said:
The guy is Norwegian which means he doesn't even have to work if he doesn't want to. Don't have to tell him to look for a job.

The benefits regime is incredibly extensive there, correct?
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You may be right, what was I thinking. lol
 
Seriously, get another job or some other source of cash flow and work on developing your own strategy in a SIM environment over time. Your biggest metric is going to be your drawdown tolerance.

I agree with many other posters about being completely new to this and deciding you are going to take all your capital and have a go about it. You will likely force trades to make money, and nothing good ever comes from forcing trades.

I am not saying that you should deny yourself your dream and your passion - I'm saying that you should be smart about it and the way you approach it. It takes a tremendous amount of effort to be a consistently profitable trader. Almost every trader I have seen who made a lot of money in a hurry almost always gives it back and much worse because he didn't know any better to begin with.

How much time and practice and effort does it take to become a very good neurologist, or aerospace engineer, or artist, or chef ? Think about it in those terms please. You will find that the trading profession attracts some very intelligent people, and that many of the market participants you will be betting against have learned how to survive and not be on the receiving end of the pain.
 
lordoftrades said:
Hi guys

I've decided that I really want to work with trading stocks full time. I've been thinking about this for 6-7 years, and now I have taken the full step. Opened an account at a prop-firm which I was recommended by a colleague. I'm trading in a Sterling Trader platform.

Case is that I got some strategies that I have been backtesting, they are not running too well. I am thinking of joining one of those groups that are online for traders to follow, like web-casts. I think I need some more fresh input, as these markets are in constant changes.

Any experiences and advice would be highly appreciated regarding trading-groups.

And to those cocky guys saying I should quit trading, I guess you are the same that 6 years ago said that I could not learn to code my own strategies in C# when I asked what programming language you recommended to learn. Well, guess what..... string txtToYou = "Get Lost"

Well, I hope to get some constructive feedback.

Thanks
Espen
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Working is a positive (or at least a non-negative) sum activity.

Trading on the other hand could be viewed as a zero to negative sum activity.

Trading is therefore the toughest activity to pursue.

In addition to being responsible for profits, you would also have to be responsible for consistency in delivering those profits per your reporting period (Month).

You also need a lot of capital.

Reaching out to random people could also be a source of problems, because you could get biased by the crowd. If you have capital and you were to seek further education and consulting, and if I were you, I would reach out someone whom I can pay from trading profits in exchange for his time and expertise under the understanding that if there are no profits there would be nothing to pay.
 
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