Improving Trading Skills

Quote from Remiraz:

$75,000 a year job. WOW. WHY THE HECK ARE YOU TRADING. (sorry, too excited)

$75,000 a year. Work for 10 years = $750,000
Much more than any layman could make off the market and more than enough to retire with!

are you joking or just very young?
 
Quote from kubilai:

LOL, don't forget federal/state income taxes, payroll taxes, living expenses. At that salary it takes 2-5 years just to build up a PDT grubstake. Speaking like one who never paid significant taxes eh?

Quote from mogul:

are you joking or just very young?

Oops, sorry guys I forgot to mention that I live in a SE Asian country where although taxes are low (abt 10+% personal income tax), wages are low too. The average guy earns about US$12,000 a year and thats consider "good salary". Our high earners take home US$24,000-US$36,000 a year and those are considered very well to do. CEOs, Private Doctors gets about US$60,000-US$72,000 a year. (these get taxed abt 20+%)

So when I see US$75,000 a year I was like...WOOT! Until kubilai kindly reminded me of the taxes US dudes get. How much are you guys paying in taxes anyway?
 
Quote from Remiraz:

Oops, sorry guys I forgot to mention that I live in a SE Asian country where although taxes are low (abt 10+% personal income tax), wages are low too. The average guy earns about US$12,000 a year and thats consider "good salary". Our high earners take home US$24,000-US$36,000 a year and those are considered very well to do. CEOs, Private Doctors gets about US$60,000-US$72,000 a year. (these get taxed abt 20+%)

So when I see US$75,000 a year I was like...WOOT! Until kubilai kindly reminded me of the taxes US dudes get. How much are you guys paying in taxes anyway?

that explains it :D

in all seriousness though that is very interesting, since trading removes the salary boundaries by region (1 ES point earned is the same $$ no matter where you live)

practically you wouldn't need very much from the market to replace a good salary...

and it's not just taxes, also living costs are much much higher

$750,000 even in after-tax savings is barely enough for retirement

I'm jealous
 
Quote from Remiraz:

Oops, sorry guys I forgot to mention that I live in a SE Asian country where although taxes are low (abt 10+% personal income tax), wages are low too. The average guy earns about US$12,000 a year and thats consider "good salary". Our high earners take home US$24,000-US$36,000 a year and those are considered very well to do. CEOs, Private Doctors gets about US$60,000-US$72,000 a year. (these get taxed abt 20+%)

So when I see US$75,000 a year I was like...WOOT! Until kubilai kindly reminded me of the taxes US dudes get. How much are you guys paying in taxes anyway?

Ah, that explains it. At $75k salary, the income taxes in the US is about 20% too, payroll taxes (social security) are about 10%. Cost of living is much higher than SE Asia. So at the end of year, you're doing great if you can save up $10-20k grubstake. Hardly enough to retire on hehe.
 
You're in the Phillipines?



Quote from Remiraz:

Oops, sorry guys I forgot to mention that I live in a SE Asian country where although taxes are low (abt 10+% personal income tax), wages are low too. The average guy earns about US$12,000 a year and thats consider "good salary". Our high earners take home US$24,000-US$36,000 a year and those are considered very well to do. CEOs, Private Doctors gets about US$60,000-US$72,000 a year. (these get taxed abt 20+%)

So when I see US$75,000 a year I was like...WOOT! Until kubilai kindly reminded me of the taxes US dudes get. How much are you guys paying in taxes anyway?
 
regardless of taxes, 75K a year is nothing, do most profitable successful traders on this site make less then $75k a year?
 
icarus618 seems like a disgruntled trader who has been forced out of the business and lives vicariously through these post to tell people he is still in the business or your a super trader that has made money from day one without any of the setbacks that 100% of traders go through......if thats the case why do you have over 500 posts? And none offering advice....
 
Quote from FuturesTrader71:

Ok... I will bite. 1Please explain to me, Grob, how my posts demonstrate that I don't know how I "work". 2Please quote the line or lines that tell you this with such clarity that you are able to manifest this deep psycho-analysis out of thin air as if by magic.

1. Your communication style. 2. "not", "not"....."not", etc when you are addressing how to add skills. An advisor who is contributing to another often expresses how he "works" ,personally, as an example to be followed. Right now, on your path, still, you are focused on what not to do. If you knew how you "worked" you would only express positive statements on how to improve. Every negative statement on your long list that you keep is "read" by your mind in the opposite way you intend it to be read. This is my third pass on the same topic with you. Your are so entrenched in baiting me to prove to others that you have something of value to say in your 1600 plus posts that so far my comments have eluded you. There is nothing deep in any thing that I say to you. Primarily, I am just suggesting that you are stuck in your ways and they do not allow you to realize your potential. What I say here is not very important. It is just the tip of the iceberg. My perspective is simple and not complicated: by missing the boat, a person can not get anywhere important.

Also, please tell me where I am so I can find my way back and get away from where I am. Since you know so much about me based on the posts you have read here on this public forum, I would like you to tell me in front of all viewers here how lost I am.

Advanced beginner. This is like in the Boy Scouts getting to second class by the time you reach the third form. You are like a carpenter with 20 years experience where the first year of experience was repeated 19 times. So it is simple for you. To get back to the beginning and go to "work" you merely need to drop all the myths you have, conventionally, acquired. When you get the list done that you asked me to evaluate; go through it yourself and replace each and every myth with a truth or truths.

Additionally, how often do you take 17 pts on 100,000 shares while the rest of us take only $800 bucks, as you mention.

As you learn more about trading you will realize that the equities curve is a dynamic chart that depends upon the money streams running in an account, the size of those streams, the number of accounts, and how it becomes necessary to do partial fills required in those streams when they reach a share size limitation. My example was not for a day's trading; it only covered one stream at the maximum share limit per stream that I abide by. So look at your question. maybe it is nothing more than baiting me but on the other hand you may be asking about 17 pts on a trade or 100,000 shares on a trade or, more likely you are asking about the profit level of 1,700,000 dollars on the trade. fortunately, by googling you can get all these answers.

I find you entertaining more than anything else. I find that you are trying to convey, through the use of long-winded sentences, that you have reached Samadi. You have transcended the relevant and no longer live in duality. You have overcome this dream we call life. Of course, it is possible and it is our destiny to do this, but it is interesting that those who have in the past do not speak as you do.

Anyway, please reply to the questions in my first 3 paragraphs above. I'm willing to indulge you and keep an open mind. But please remember that I'm only a layman who understands simple, clear sentences without references to thoughts within thoughts. Just put it in bullet format.

If you still have time after that, maybe you can respond to my second post after yours above where you tell the OP how he should have phrased his thread. If this can't be done, then I'm afraid that you have lost me and all that typing was for nothing.

Were I to do that it would be like giving you the template for your original answer, perhaps. No one is going to learn about how they work from such a paraphrasing. To improve skills, there is a shortcut that is quite amazing. By using a dual feedback system in the context of how a person "works" or naturally operates, the process is not only shortened it achieves the deepest results. You have had what is called a wakeup call that is, only, admittedly, at this point for you, entertaining. It is pretty late in the game, but it is there. There is lots and lots of bad news ahead for you.

PS: The adverb of ample is amply not amplily.
 
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