Take time to become successful traders?
- Thread starter johnmmf
- Start date
It strikes me as a potentially circular argument, which could (perhaps) be held to be valid by definition, for example if one made out that the "right mindset" included the appropriate educability. Without defining the "right mindset", I can't even really tell whether I agree or disagree with it.
To me it seems pretty much self-evident that not everyone has the innate ability to become a successful trader.
I believe the earth is flat.
I know a few people who work for it but after many years still make no money (which is even not being successful).
what one man can do another man can do
but it does not mean every man can do
the right version of the phrase should sound: what one man can do not every man can do
there will be another chess champion, but not anyone can be the one - very few have the right sets of abilities and opportunities
same with trading
you are right.
It all depends. I've been trading for less than a year and had a 84.5% max drawdown which occurred mid December, trading highly leveraged assets. Went and studied day and night to the point of illness, taking anything that appeared useful. In just a few weeks I am now only 20% away from breakeven. I've managed to greatly alter various components of my trading as well and am now even gaining respect from successful traders. It is not easy, and there are still many things I need to learn. Most of this success comes from this wild bull market, certainly, but I've been doing fairly well timing reversals back to the upside on the better companies and buying monthlies rather than weeklys. I find that I do better actually trading weeklys recently but I recognize the risk and keep positions small and only buy them on support areas and other conservative measures.
I would generally love to sound optimistic and open-minded, but I would have to disagree with you.
Trading, trading successfully or fruitfully, is an extremely complicated endeavor. -- I can't imagine pulling 10 random guys off the street...and transforming them to basically ATM market money machines.
Alot of people are basically simple dimwits....who are not made for greatness, to be blunt. -- But rather made to be just a processing cog within the greater machine.
Trading is dangerous, adventurous territory. -- Not many people are cut out to be heros, or to step-up. Tread forward with gusto, but with calmness and wiseness,
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Yes, but the closer to break even, or the further beyond break even, the more difficult it becomes to improve. Difficulty grows exponentially while profits don't.