Fair enough Ironchef. Again, different people operate in different ways I suppose.
But from my line of sight, it sounds like you know what you're doing as well.
Is it luck or am I doing something right?
- Thread starter Fad
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Fair enough Ironchef. Again, different people operate in different ways I suppose.
But from my line of sight, it sounds like you know what you're doing as well.
Can I ask you, what kept you motivated for more than ten years if you weren't profitable? I guess you enjoy trading like me?
And would you care to reveal your swing trading strategy and how profitable it has made you?
Will take a look, thanks!
answer : none of the above.
If you earn tons of money in a day, it doesn't mean you will earn tons of money for the next thousands of days.
You need to have many months of trading to confirm whether you will be successful or not.
your emotion is not neutral when you were doing demo trading.
This is bad.
" the app I'm using tells me that had I been using a real money account, the profits would have been the same ".
This apps is simply BS. throw away that apps.
The difference between life and demo trading is 180 degree.
Life trading involves mind management to achieve neutral emotion whereas demo trading doesn't require that.
demo trading is like walking on a plank few inches off the ground.
live trading is like walking on the same plank thousands of feet off the ground.
If you earn tons of money in a day, it doesn't mean you will earn tons of money for the next thousands of days.
You need to have many months of trading to confirm whether you will be successful or not.
your emotion is not neutral when you were doing demo trading.
This is bad.
" the app I'm using tells me that had I been using a real money account, the profits would have been the same ".
This apps is simply BS. throw away that apps.
The difference between life and demo trading is 180 degree.
Life trading involves mind management to achieve neutral emotion whereas demo trading doesn't require that.
demo trading is like walking on a plank few inches off the ground.
live trading is like walking on the same plank thousands of feet off the ground.
i did not trade continuously for ten years....there were huge gaps but i kept coming back..because this is the best business in the world because you do not need anybody else....you can be independent... TOTALLY...all you only need a good broker..and there are enough of those
The freedom is what attracts all of us to trading......you are lucky you came across .... Brooks that may save you a great deal of anguish
BUT DO NOT READ HIS BOOKS
I'm not really sure what you mean by that? How do you know what any of my emotions are like during trading? All I've said is overall I find it exciting. Didn't once mention how I felt when I won a trade or when I lose a trade or how I feel during a trade?
"This apps is simply BS. throw away that apps."
Very helpful. Call the app I'm using BS before even knowing what app it is. I've found it to be very reputable and easy to use for a beginner like me and it has millions of monthly satisfied users. Like I said before, I have been and intend to continue being thorough in my research.
The best way to train in any profession, is to use a simulator (pilot being one good example) and I've treated the money in my sim account exactly like I would my own money. Yes it might involve less risk but I promise you I didn't take any unnecessary risks when trading with my demo account, just because it was a demo account. And I believe that is the reason I had 13 solid trades in one day.
Retired SIU Bosun here. Trading is a good activity between ships, and if you can keep your expenses down (single, no car note, minimal housing expenses, no big credit card bills) you should be able to fully fund ($25k plus a little cushion, to be able to daytrade stocks) an account in a year with no prob. If you get on the right ship maybe you can even swing trade while you are at sea. Or buy and hold before you fly out, and resume trading when you come home. That was actually my original intent but I just said to hell with it, and put in for my retirement.