My over 6-year trading experience in a nutshell

I like the Market Wizards books. The key thing I took away from them is this:

Most of the "wizards" waited for perfect opportunities to trade where they were 99.9999% certain they could win. The "wizards" built up their capital making maybe 5-10 trades per year.

Contrast that with the average new trader who probably makes 5-10 trades per week. And the losing trader who makes 5-10 trades per day.

Day trading is the worst way to get started in trading. The longer the timeframe that you trade on, the higher the chances of profit.

I bet a lot of you are good poker players. If there were no blinds then everyone would sit around and wait until they were dealt an ace pair to play.

This is how trading is. You don't lose anything if you don't trade. So sit tight and wait for your ace pair.
 
There is a reason why people daytrade. Trading 5-10 times a year will simply not compound returns fast enough to make a decent living from trading, unless you are already retired or have tons of dough to begin with. What you are describing is investing and not suitable for this forum which caters to active traders.
 
Quote from Grandluxe:

There is a reason why people daytrade. Trading 5-10 times a year will simply not compound returns fast enough to make a decent living from trading, unless you are already retired or have tons of dough to begin with. What you are describing is investing and not suitable for this forum which caters to active traders.
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no, the reason they daytrade is, they don't have enough money to hold overnight

plus, in the old days, the opening was the most risky time of the day

that no longer applies
 
Quote from cool 2334:

Hi

I'm offering my long-time experience here for everyone for free!

Subject matter: leveraged and unleveraged trading using non-fundamental
analysis such as technical analysis, price action, tape reading..etc.

I hereby confirm the famous saying of one CEO that "trading is a waste of time."

Do not waste your money and more importantly do not waste your most precious asset, your TIME and life.

When it comes to trading, nothing is going to work out on the LONG RUN.

I spent more than 6 years trading on a fucki** daily basis, using four monitors :) :(

I am very superior when it comes to study and learning having had admissions from the world top employers and schools in my area of study, which is law. I rejected all theses opportunities, believing and relying on trading :( :)

I started trading when I was around 26 y/o old and I am now 33 y/o. :( :)

My life has been an awful nightmare all over the years I was trading.

I've almost red every trading books out there on Amazon, including books on options, futures, and forex.

I've watched many of the trading videos of on Youtube and red many articles online.

I swear all those fox claiming they are successful traders are lying, including mentors and those featured in that book " Market wizards."

Trading Education is a growing profitable industry that relies on spreading the myth that trading can be profitable and can be lived off. Do not be a victim of those scrupulous, unethical people.

There are inherently complicated issues (form both psychological and professional aspects) in trading that can not be solved.

That is why traders fail on the long run.

AND

That is why there has never been a trader with PROVEN TRACK RECORD.

This is my testimonial addressed to whom might be concerned.

Thank you,
Cool2334
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Quote from cool 2334:

The idea behind this last attempt is that trading should be an easy business that makes easy money possible; otherwise, I'd not go after money that would turn my life upside down.
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I think you have better odds at the casinos.
 
Not another "I failed as a trader, therefore it's impossible for anyone else to be consistently profitable" thread!!! The fact you even think in that way is an indication that your analytic / logical skills are too crude to become a successful trader.
 
Quote from emg:

the reason why u became a failure trader because u began your trading career as a small trader:


-u were brain drained reading tons of books
- u were subscribing 3rd party vendors believing u will be rich
- u were trading from home
- u were angry over and over again losing/blowing your account (self radical behavior)
- most of all, u were gambling




tell me how many time u went over this cycle?



Within the 6 years, u could have gone to school and graduate 2 yrs ago. On top of that, u be trading in a REAL trading firm.


but u didnt. u chose the path of becoming a small trader by reading excess books and subscribing 3rd party education vendor. What will u do now?

More than 90% of small traders lose! They just lose!



http://www.bloomberg.com/news/2012-...-seen-profiting-at-small-firm-expense-1-.html
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I agree with most, except trading from home, there are many big traders doing this.
 
The OP's points should be more carefully considered than the lame responses posted on this thread. Pearls before swine.

Anyone with more than a couple years experience would recognize the wisdom of his comments.

This is especially true in regards to lost opportunity. For 99.99% of aspiring traders, time and treasure would be much better spent on furthering a career or education.
 
Quote from lindq:

The OP's points should be more carefully considered than the lame responses posted on this thread. Pearls before swine.

Anyone with more than a couple years experience would recognize the wisdom of his comments.

This is especially true in regards to lost opportunity. For 99.99% of aspiring traders, time and treasure would be much better spent on furthering a career or education.
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well, if you are going to go that route, I should have just done what my Mother and Father said I should do. Or for that matter, all my teachers and all grownups.

thing is

they wanted me to be sucessful

I wanted to be happy

Hard to go to the grocery store and explain to them you can't pay because you are happy rather than sucessful

now I am happy

Happier than a pig in shit

Hey brother, can you spare a dime?

I got a little happy last night and lost my wallet
 
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