Poll: What step are you on right now?
- Thread starter kaching
- Start date
Started trading at #15 (knew there needed to be a methodology to this in order to make money). Currently I'm at #25 and having a hard time getting out of it. Trading for 6 months currently.
You forgot the following:
39. The market changes, the "rules" stop working and we start losing money.
40. We continue to apply the "rules" consistently, but continue getting poor results (ie donating) due to the market changing from what worked before.
41. We lose confidence in the system, quit trading for a while.
42. We resume trading the same system, figuring we were just needing a break, and the poor results continue.
42. We start posting on ET about how the market "sucks", the market makers/specialists are screwing us, black box pennying-algorithms are screwing us, there is no volatility anymore, etc.
43. We realize again that the problem is in us and not outside us.
Begin again at Step 14.
39. The market changes, the "rules" stop working and we start losing money.
40. We continue to apply the "rules" consistently, but continue getting poor results (ie donating) due to the market changing from what worked before.
41. We lose confidence in the system, quit trading for a while.
42. We resume trading the same system, figuring we were just needing a break, and the poor results continue.
42. We start posting on ET about how the market "sucks", the market makers/specialists are screwing us, black box pennying-algorithms are screwing us, there is no volatility anymore, etc.
43. We realize again that the problem is in us and not outside us.
Begin again at Step 14.
#31 to #35 form a loop. Took 2 years to get into that loop. No sign of exit to #36.
To get to 36 do what I did: create an ATS platform, write your systems and let them trade for you. At least then you'll be in the 31 to 36 loop like me.
I agree with Cheese and 2Cents, this list is all crap trying to explain why people don't make it, excuse our losses, keep us hoping.
I jumped from #1 to #36 in less than 5 months and without ever blowing up or even losing more than 20% of my initial account. After the initial 5 months I never had a losing month. I am by no mean an expert in the market, and I don't even understand half of what people are talking about in ET threads (I consider myself still a beginer in the markets), but I still make money consistenly and that's all what matters to me. I am not making millions, but I make 5 digits net profits per month easily. Spending less than 3 hours a day doing it.
So please!!! I think this list was invented by people that are making money to boost their ego, and pretend that they worked very hard for it... Or that they are super genious. It's all crap.
Who said it was necessary to go thru these 36 steps to become successful? Where is this list coming from anyway??
Peace and good trading
I jumped from #1 to #36 in less than 5 months and without ever blowing up or even losing more than 20% of my initial account. After the initial 5 months I never had a losing month. I am by no mean an expert in the market, and I don't even understand half of what people are talking about in ET threads (I consider myself still a beginer in the markets), but I still make money consistenly and that's all what matters to me. I am not making millions, but I make 5 digits net profits per month easily. Spending less than 3 hours a day doing it.
So please!!! I think this list was invented by people that are making money to boost their ego, and pretend that they worked very hard for it... Or that they are super genious. It's all crap.
Who said it was necessary to go thru these 36 steps to become successful? Where is this list coming from anyway??
Peace and good trading
5 digits every month is pretty vague, 10k is not that hard, 99k is a different story 
Steve,
I am making the lower 5 digits per month. I think my best month was around $30K, but in average it is more around $15K.
I completely agree with you that it is pretty easy. But I am content with it, and it is more than enough for me.
My answer was towards the idea that you have to blow up many times before you can make money consistently. I respectfully disagree with that statement.
Maybe people have to blow up to make $100K a month... I don't know. I never made that much money in a month.
But for sure people don't need to blow up to start making consistently $10K or $15K a month
Cheers
I am making the lower 5 digits per month. I think my best month was around $30K, but in average it is more around $15K.
I completely agree with you that it is pretty easy. But I am content with it, and it is more than enough for me.
My answer was towards the idea that you have to blow up many times before you can make money consistently. I respectfully disagree with that statement.
Maybe people have to blow up to make $100K a month... I don't know. I never made that much money in a month.
But for sure people don't need to blow up to start making consistently $10K or $15K a month
Cheers