It is IMPOSSIBLE to make money in the markets

Your need to use a foul mouth to cover up your inadequacies is typical of low IQ traders with small wieners and balls.

The good news to me is that many posters on this forum are surprisingly and truthfully candid. Indeed over 90% of traders fail. It takes 4 to 7 years to grasp the requirements to be a successful trader. Most people apply the 5 Minute management technique to trading and have the attention span of an ant.

I am a recovering failed trader on year 5. I am now neutrally successful yet cannot beat the market. The 5 skills I am working on are 1 to 4 discipline and 5 emotional control.

My advice is think of trading as a 747 pilot applying his/her skills. Think like a scientist, engineer or an artist and you will be broke in 3 months.
 
4 to 7 years are you fucking retarded? I have horse size balls that require massaging please begin massaging as you please. Better yet send your daughter.
 
Quote from marketsurfer:

right. discretionary trading is an art, not a science. can it be done succesfully over the long term without adding/developing "informational advantage"---perhaps, but its extremely rare--so much so, i have never seen it.

surf
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Q: What is discretionary trading?

A: Discretionary trading is where the trader makes the buy or sell decisions. In this (s)he may be aided by whatever tools the person finds appropriate.

If the "system" gives the buy/sell signals then the trader merely becomes the executioner.

The problem with system generated buy/sell signals is that the trader is at a minimum one more step removed from the pure market and his (her) results will suffer as a result.

A "discretionary" trader, if (s)he has developped a proper understanding of the market, will outperform a mechanical trading system.

The downside of this is that to become a succesfull discretionary trader you either have to find a succesful mentor or spend a very long time studying the markets with no garantee of success.

Most mentors in this subject area are mediocre at best. Can you envisage Jesse Livermore being a mentor? There is no incentive to being a mentor, once when you know how to trade properly the millions come easier than the hundreds do while you are still in the dark.

You'll know that you are on your way when, as Vic Sperandeo aptly mentioned it, you realise that you have stopped emulating the best of the other players (that you can find) and that you have started to play your own game.

The biggest advice that I got in my trading career, and which sunk in only a long time afterwards, was by a guy in Charleston (thanks Wayne), who said that using the same indicator as everyone else and knowing the same stuff as everyone else is not going to get you anywhere.

Holmes
 
That only comes ýf you are confident in your system. What you are inadvertently saying is that you should make sure that you have a solid system and if thats the case theres no reason to have any fear.

If you don't know what your doing than its a good idea to have some fear. It will save you some money.
 
Quote from ozzy:

4 to 7 years are you fucking retarded? I have horse size balls that require massaging please begin massaging as you please. Better yet send your daughter.
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There is the story of the turtle and the hare. Didn't you make initially a shitload and then blew it all? How long ago did you start? So where do you count you have "made it"?

PS. Don't forget you are only as good as your next trade.

Candletrader: If you have fear then you have no trust in your "system" / "setup" / "own abilities" and you need to address that by creating a robust "system" / "setup", it ain't an emotional problem.

Holmes
 
Quote from candletrader:

Defeating fear is 90% of the journey...
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very well said very well.

I mean lets face it there are so many factors to it, that its a wonder that 5-10 % do stick around.

even though I am happy with my profits, I must say i am still jealous when I think about those guys whose father was a mentor and account opener

I had a tough beginning :(
 
Yes Holmes. That happened. You live and you learn. It happened to me at a relatively young age in my 20s. I can tell you this somethýng like that will never happen again (at least to that degree). Unlike many others I did not fold and close shop.

I'm not going to say much more but I'm pretty confident I'll post some of the largest numbers possible in the future. I'm talking in the next 5 years. I'm not trying to be cocky. I believe in myself period.
 
no holems candle boy has a point

many many people still fear, even after good backtesting.

getting over this irrational fear is of course sign of intelligence but hey how many of us are really intelligent????
 
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