I know how it works and emotions involved with newbie, not me
Thank you
Recommend to trade for a living ?
- Thread starter Street Trader
- Start date
I know how it works and emotions involved with newbie, not me
Thank you
I think maybe sometimes you're too much full of shit. No offense
Long ago a friend dated a girl and her father was a professional gambler. Made a living at the blackjack table. He would never recommend the career path but got locked in his ways overtime. Street Trader's investment style, sort of reminds me of him. But he played all the rules and mildly counted cards.
By the end of day he was up a few hundred bucks, and walked away. I guess you got to know when to take profits. Tomorrow is a new day. Imagine if trading were that simple.
Demo accounting is good to get everything down the best you can
Demo accounting is good because if you lose to the Demo you are certainly not ready
Demos often give you better entries and exits than the market would. One shady place even had a Demo that slipped a little extra on the wins.
Most people who go live as a winning Demo trader will lose trading live even with perfect emotional control- because their method is not good enough to beat the market, but their method is good enough to beat the Demo
Another problem arises when a trader simply has a lucky run on the Demo with a losing method. When he goes live, well, you know..
One of the few winning stock traders I know briefly traded Demo, then sensibly traded live for 100 shares where he lost his ass for a very long time.
After that he was lucky to hook up with a couple of winning traders and talked his way into doing research and running errands for them... then he began to win.
Aka.. the mentor method, which is not open to most. Very hard to hook up on a daily basis with anyone who truly wins big.
Demo accounting is good because if you lose to the Demo you are certainly not ready
Demos often give you better entries and exits than the market would. One shady place even had a Demo that slipped a little extra on the wins.
Most people who go live as a winning Demo trader will lose trading live even with perfect emotional control- because their method is not good enough to beat the market, but their method is good enough to beat the Demo
Another problem arises when a trader simply has a lucky run on the Demo with a losing method. When he goes live, well, you know..
One of the few winning stock traders I know briefly traded Demo, then sensibly traded live for 100 shares where he lost his ass for a very long time.
After that he was lucky to hook up with a couple of winning traders and talked his way into doing research and running errands for them... then he began to win.
Aka.. the mentor method, which is not open to most. Very hard to hook up on a daily basis with anyone who truly wins big.
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Who won live trading without demo!?
Trading Demo is not mandatory but good at first for many people.
The main takeaway is that most people can never make it as a trader if they do not hook up with the right people for help.
However, this is not possible for most people.
This does not mean paying large money to people selling things or reading books and taking courses.
One of many problems is that what works today does often degrades into unprofitablity over time.
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Steet Trader, I have read all of your posts and again I can confidentially say that you personally will not make it as a trader without hooking up on a regular basis with someone who has been around and is a strong winner.
And you may never be able to do this.
Probably you will not make it, but you now know what your best chance is.
However, you just might be better off finding other things to do. Your choice.
Sometimes the only winning move is not to play.
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Trading is competitive. You are up against the best of the best- both man and machine .
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I don't like and rarely use demo, I just trade Live but 1/4 size ( Spot so can do that ), it's enough for the fear and greed to kick in, but not really care too much about if I take a few losses.
Street Trader has 3 - 10 years to go on this Journey, if he sticks it out then he's got a chance as have we all, most don't stick it out and never make it into the 1%.
Living long enough to get to profitable is my issue, average life expectancy, I've got say 30years left going to be cutting it close LOL