Is it luck or am I doing something right?

GrowleyMonster said:
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.
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i know two shippies who saved and opened other activities...one opened an architectural firm and the other became a stock broker....and both did very well for themselves......in other words they were not 'all at sea' ...on land
 
GrowleyMonster said:
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.
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Great minds think alike and all that jazz! :)

Yes my plan is to find something to do between ships. Eventually, I hope to run my own business doing something that doesn't require my full attention, as I'll be at sea 50% of the time.

All your suggestions are things I have thought about like the swing trading whilst at sea etc. Just gonna test the waters for a year or 3 and hopefully everything falls into place. Easier said than done I realise.

Retirement does sound nicer! Enjoy it, sir!
 
Fad said:
Easier said than done I realise.
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i have traded eur for 12 years.....so i learned to trade the hard way

but if you trade one strategy- which is what i am doing now- you can make a lot of percentage gains if you can fine tune it over time.
i might be a bit presumptuous in saying that if you keep in touch i will help you......but you have to stay disciplined....... to be happy...with your trading.
Any one can show you how to trade.....but remember:opportunity knocks ,temptation leans on the doorbell
The bible shows us how to be happy but how many persons can stay disciplined and enjoy the fruits of ancient wisdom.
of course so does the Koran and the Bhagavad Gita
 
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Fad said:
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.
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Thank you and good luck to you on your journey.

I actually don't know what I am doing but I am extremely lucky, beating the index by 5-10 every year since 2013. But my luck is running out this year, so back to the drawing board for me. :(:banghead:
 
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Fad said:
Great minds think alike and all that jazz! :)

Yes my plan is to find something to do between ships. Eventually, I hope to run my own business doing something that doesn't require my full attention, as I'll be at sea 50% of the time.

All your suggestions are things I have thought about like the swing trading whilst at sea etc. Just gonna test the waters for a year or 3 and hopefully everything falls into place. Easier said than done I realise.

Retirement does sound nicer! Enjoy it, sir!
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Well, the nice thing about trading between ships instead of staying on the beach permanently and trading, is if you wreck your first account, you can simply save and scrounge and in a half year or a year you are capitalized again. Sailing is a great fallback career for however long it will take to become a consistently profitable trader. Or another way of looking at it, is trading gives you something fun to do besides drop all your $ in the casino or at the titty bar when you are on the beach. Even if you do lose a little $, it is a lot of fun. You just have to manage your losses and always live to play another day.
 
Fad said:
I guess you enjoy trading like me?
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I know what a great opportunity trading is...….I have always been a loner and for loners this activity cannot be beat...…..
all you need is a good broker.....you need no one else....no government license.....to open a eating joint or restaurant in India you need approvals from 16 departments and it does not end there: you have to renew every year and be subject to inspections at any time......
that is why everyone wants to trade.....not for the money.....for the freedom and independence it offers
 
padutrader said:
I know what a great opportunity trading is...….I have always been a loner and for loners this activity cannot be beat...…..
all you need is a good broker.....you need no one else....that is why everyone wants to trade.....not for the money.....for the freedom and independence it offers
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:thumbsup::thumbsup::thumbsup:@padutrader, takes one to know one. :cool::p

It is really about freedom. The life/career I gave up was great but this is priceless. Money is only there to tell us if we have successfully cracked the code.
 
Fad said:
I have started using a practice account with £5k starting capital. I am by no means an expert in trading, in fact, I'm a complete noob but I have always been drawn to it for some unknown reason because as I have learned, it's an adrenaline inducing hobby to have. Anyway, I decided to just do what came naturally to me, which was dipping in and out of markets making small profits here and there. After realising that this was working for me I decided to do some research and discovered that what I was doing is known as scalping? OR is it? (if someone could clarify that first question that would be great). Now I will get to my main question, hopefully some of you have stayed with my ramblings. I started with this 5k as mentioned above and turned it into 25k in a day, all my trades were made on the DAX, DOW and FTSE, is that realistic? the app I'm using tells me that had I been using a real money account, the profits would have been the same, obviously taking away the fees that come with a real money account. Basically, what I want to know is, are my results realistic or at least if I'm making 20k in a day, could I expect to see reasonable/similar results with a real money account?

I thank anyone with advice on this matter in advance! You legend(s)!
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In a paper trading account you get fills that are simulated and not the same as the fills you’d get in actual markets. Slippage occurs, so reduce your gains by a lot. Also, it seems as though you are daytrading which is illegal in the US with under 25K, unsure with the United Kingdom. Lastly, without having to take emotion into account, it is very easy to let your winners runs or cut losers short. With real money, it’s a different story, trust me.
 
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Adeel06 said:
In a paper trading account you get fills that are simulated and not the same as the fills you’d get in actual markets. Slippage occurs, so reduce your gains by a lot. Also, it seems as though you are daytrading which is illegal in the US with under 25K, unsure with the United Kingdom. Lastly, without having to take emotion into account, it is very easy to let your winners runs or cut losers short. With real money, it’s a different story, trust me.
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Appreciate your comment!

I was also trading with ridiculously high leverage which I learned and reduced as I won't be trading with high leverage when/if I put my own money in. As far as I know day trading in the UK is possible. I've been working away with a demo account for the past week and managed to maintain a daily profit but still learning every day!

Cheers
 
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