Is trading that hard? Or are people that stupid?

[rcanfiel]

Quote from NihabaAshi:

We cannot accurately nor come close to forcasting how long it takes someone else to be able to trade profitably nor understand the market based upon our own personal experiences.

There are just too many factors involved that separates one trader from another trader...

I'll name a few out of many more I don't have time to mention.

* Trading System

* Trading Equipement

* Capitalization

* Discipline

* Trading Instrument being Traded

* Education Material

* Trading Enviroment (home or office)

* Screen Time

Simply, next time someone ask YOU how long it takes to become profitable and/or understand the markets.

Just tell them how long it took you along with telling them it could take them less time or longer time.

Myself, I studied the markets for several years prior to getting to the point of saying I understand the price action.

It's during such time I became properly capitalized.

Next, it took a few more years to develop my trading plan.

Then it took about 1 year to become a profitable trader (enough money to pay the bills and continue with the hopes of trading for a living)...

Took another year to see my trading income equal the income (trading for a living) I had at my prior job.

It would be very misleading for me to say it takes about 1 year to become a profitable trader.

However, I started as a teenager when I was learning how to understand the price action and I took my time because I had no pressure what so ever.

Therefore, I cannot guess how long it will take someone else...

To get it.

Mark

Very good and honest appearing post

 

[Optionpro007]

Quote from rcanfiel:



Opposite? So if someone tries to learn, they should do the opposite? If they try to find a good broker, they should find a bad one? If they study/ask for reading recommendations and good tips, they should strike out on their own and solicit bad tips? Etc. Etc.

Based on your point of view of course it's useless to you.

I have had you in a higher level of intellect, please don't dissapoint me.

 

[illiquid]

Quote from rcanfiel:

Quote from Optionpro007:

In reality your competition is guys just like you, the newbies. Those are the ones you have to beat.

And how do you beat them? By doing the exact opposite of whatever you think you should do from the start.

This ranks as one of the truly useless statements.

When a newbie lifts the offer for whatever reason, think of who is usually sitting there offering that price. Taking the other side of that trade is as "exact opposite" as you can get.

 

[BreakDown]

Quote from Alex_in_Oz:

Wow! Some VERY clever minds here.

Bizarre that most of them voted for GW Bush TWICE!

I didn't vote twice for GWB, cause I'm not American.
And I'dont think to be very clever.

 

[mgabriel01]

Quote from CaptnDustball:

I'll read all the most important and relevant books. I'll spend a good 1-2 hours/day reading threads on this and other sites. Ask questions. Try to come up with a system. Backtest that system extensively. I'll paper trade. Learn how to approach different markets. I have a friend who's traded for 15 years who I plan to watch and study over time. And I'll study the 7200 other things that I don't even know about yet that I will find out by doing the aforementioned things I just listed. Seems like a reasonable plan.

Again, it seems like if you approach it with a level of respect and don't take too much risk, being a profitable (not immensely profitable - but profitable) trader is not that difficult.

What have you read?

 

[patoo]

Quote from BreakDown:

I didn't vote twice for GWB, cause I'm not American......

Since this thread is totally lame..lets see if I can get it closed by getting off topic some more...

Well, I am an American and I voted for him ...twice. We all can make mistakes...twice!! ( I am so ashamed)

 

[imbiber]

The only thing hard about trading is finding a big enough shovel to move the mountain of dough I have made.

 

[ammo]

captn, you r right it looks simple and is simple to make money, buy when its goin up, sell when its goin down, couldn't be easier. The hard part is when to buy and sell,when to take a profit, what to do if your wrong , and how to hang on to your profits once u have some, thats trading. And all that is in your head,that's the gas pedal, the brake, the carburetor, if any of these things are not in tune you will, 1.. not make a trade at all, 2 ..not get out when you are wrong,3 burn up all your profits,or your acct on commissions and related costs, trading like driving is easy, if your car is in tune

 

[piezoe]

Quote from Allen3:

It'll seem easy until you have read 100 books on trading and after the first 6 months of looking at the market and saying to your self I know what the markets going to do jeesh this is easy. Then you get to the point of realizing all the crap you've been shoveling into your brain is just that. If you used their ideas you'd loose everything. Then you realize you can't quite figure out where to get into the market move that you just know is coming without being stopped out or having such a wide stop that the account your thinking of using isn't big enough to cover. Then you freeze and spend the next 6 months looking for exact rules and different scalp techniques or maybe position trading or blah blah blah (as you would say). I'm still in this process so this is about where I have to end my commentary. Yeah. I guess I'm just an idiot. I hope what you've chosen to study first and almost geniously will work from the moment you start to pull the trigger and you don't end up blowing your account away with confidence. But then again you are to smart for that... Good luck. Your not likely to make friends this way. Sometimes your friends give you the key to your next level. Learning to trade seems to be just a series of locks. Hopefully you get into some of the good rooms before its to late and your done.

Nicely said. It seems to me that you, Allen, understand what it takes to become a competent trader,assuming you are not already. You have it! Congratulations.

 

[Reaver]

Quote from Anekdoten:

Successful trading is very similar to the end of the movie "The Matrix".

When Neo finally realizes he is "The One" he can see through the Matrix and a whole new door of opportunities opens up for him.

Very similar in trading, when you "get it" you will get a similar feeling and it will be so clear you won't doubt this the way you did before you "got it"

Anek

That's a very good way of looking at it.