my personal thoughts after 20 years of trading

[MarketEater]

First of all you should have a reason to believe that you can succeed in this business, e.g. you are smarter than average, you are analytical, intuitive, see patterns easily, etc.

Secondly if you have put in your 10000 hours and are still not profitable, cut your losses.. trading is not for you. jhmo.

Well stated.

 

[MarketEater]

First of all you should have a reason to believe that you can succeed in this business, e.g. you are smarter than average, you are analytical, intuitive, see patterns easily, etc.

Secondly if you have put in your 10000 hours and are still not profitable, cut your losses.. trading is not for you. jhmo.

Seems the reason OP thinks he can succed is Al Broaks told him he can! So sad, i am out of here.

 

[qxr1011]

o me, losing money all the time seems destructive behavior as well.

absolutley

Unless of course he has spent the past 20 years trading demo, but then he isn't a trader, then he is more like a gamer spending all his time on playing video games.

i would called it system builder

A scientist get's paid for whatever research he is doing, he might be stuck for years but it doesn't affect other aspects his life.

some not, they still continue.. grigopry Perelman was not working when he resolved the Poincare equation, and refused to take the monetary prize...

abnormal people, as i said above

and if we talking about artists , painters for examples - they paid zilch...

van gouh did not sell a single paint, but continued painting until his suicide

gogen abandoned paying stock brokerage job and decide that he will paint, died form syphilis

abnormal people, but they loved what they were doing in spite of insurmountable odds and often complete rejection

and here you guys coming with your disclaimer "Trading is bad for your health !"

of course it is

 

[qxr1011]

First of all you should have a reason to believe that you can succeed in this business, e.g. you are smarter than average, you are analytical, intuitive, see patterns easily, etc.

Secondly if you have put in your 10000 hours and are still not profitable, cut your losses.. trading is not for you. jhmo.

baloney

what reason suffice?

was valedictorian at school, got PhD in math?

and how does one know that you smart enough for trading?


10000hours ? where that number came from, why not 10001?
huh?

why not 1000?

 

[qxr1011]

Trading is not a dream. It is a process. Do you need this explained further? No wonder the market is so rich, yet the “traders” are so poor.

I would recommend u to take a caution in your tone or i will show you the process in your ass...

 

[schweiz]

First of all you should have a reason to believe that you can succeed in this business, e.g. you are smarter than average, you are analytical, intuitive, see patterns easily, etc.

The problem is that most people always THINK they are smarter than average, more analytical, intuitive, see patterns easily, etc.
A lot of people think they drive better, look better, work harder,etc...
In short each human being thinks he/she is above average.

Secondly if you have put in your 10000 hours and are still not profitable, cut your losses.. trading is not for you. jhmo.

All depends of the evolution you go thru. The 10000 hours are irrelevant, the evolution is the only quantifiable criteria to decide to stop or to continue.
Many failures are a result of giving up just before the success will be reached. It is impossible to know with certainty that you should stop or not. And in hindsight you can never check it. That is the main problem.
I needed more then 10000 hours and make now on average each month more than x times my yearly salary. The few people who know my situation all want to sign immediatelly for that result.

But there will always be people who make the wrong decision. Some should have stopped and some should have continued.
Roughly 50% of people divorce because they married the wrong person.

 

[CSEtrader]

absolutley


i would called it system builder




some not, they still continue.. grigopry Perelman was not working when he resolved the Poincare equation, and refused to take the monetary prize...

abnormal people, as i said above

and if we talking about artists , painters for examples - they paid zilch...

van gouh did not sell a single paint, but continued painting until his suicide

gogen abandoned paying stock brokerage job and decide that he will paint, died form syphilis

abnormal people, but they beloved in what they doing in spite of insurmountable odds and often complete rejection

and he you guys coming with your disclaimer "Trading is bad for your health !"

of course it is

Einstein was banished in math, we would not have Starbucks, the banks turned done Howard Shultz 242 times

https://flic.kr/p/7381350066

,
Jeff Bezos reportedly was about to be bankrupt more than one time. And it was always the same - the crowd will yell:"Caution, Protection, Security! You are crazy!" But for me at this very young stage of trading as mastery for many (since the end of the nineties, when the electronic trading take flight, thanks to CME group, except few of us who are coming from financial-trading families) we are all now like first pilots, read some Antoine De Saint Exupery - to be pilot means at that time to be courageous, to be first, to be one. The same is wit trading now when we still have too many darknesses, where the regulated markets appeared the same as non-regulated for many, where many novices are eaten by dishonest sharks service-providers without even ever touched real market. So yes, in this sense we are all not-normal because we are first and creating the clear path for futures, So, Trader God, you are close. Clean up your mistakes and keep going! See you soon in the glory of your victory, consistent and profitable!

 

[qxr1011]

i am done with this thread, everything what has to be said imho was said, (probably even more)


There are more reckless humans than sages, and even in the wisdom, there is often more folly than wisdom. (c)

 

[Xela]

No personal attacks.

I'm really hoping you mean it, MarketEater. According to your profile, you're 18 years old, and have been a member here for only a week, but some of us are already quite concerned about your behavior toward your fellow-members in several threads.

its our duty as fellow traders to try to help. Not feed the addiction.

Absolutely no disrespect implied at all, but I can't help wondering whether the depth of experience you've acquired, yourself, as a trader, quite justifies the strength of your opinions, on some subjects, not to mention the force with which you sometimes express them.

 

[MarketEater]

Einstein was banished in math, we would not have Starbucks, the banks turned done Howard Shultz 242 times

https://flic.kr/p/7381350066

,
Jeff Bezos reportedly was about to be bankrupt more than one time. And it was always the same - the crowd will yell:"Caution, Protection, Security! You are crazy!" But for me at this very young stage of trading as mastery for many (since the end of the nineties, when the electronic trading take flight, thanks to CME group, except few of us who are coming from financial-trading families) we are all now like first pilots, read some Antoine De Saint Exupery - to be pilot means at that time to be courageous, to be first, to be one. The same is wit trading now when we still have too many darknesses, where the regulated markets appeared the same as non-regulated for many, where many novices are eaten by dishonest sharks service-providers without even ever touched real market. So yes, in this sense we are all not-normal because we are first and creating the clear path for futures, So, Trader God, you are close. Clean up your mistakes and keep going! See you soon in the glory of your victory, consistent and profitable!

That’s all well and good when daeling with business or other system that is designed and profits from your success. Sure. Keep on trying the system will likely reward you for good idea and persesistance.

The market is the opposite. It is designed for and profits from your failure. There’s a huge difference between the market and the system in which your quoted people above operated.

I can not believe this is not obvious.

Can no one else see or understand the difference?