topsteptrader combine for Oraclewizard77

[justrading]

Quote from NoDoji:

To get those jobs you have to be qualified. (I'm not qualified for any job that pays more than about $40K a year.)

Then if you get a job like that, you have to work for someone. You might have a boss, co-workers, and maybe clients/customers as well. You may not get along well with them.

Traders are their own boss, can work limited hours (my trading day is done before noon), can take time off when they want, and can pretty much trade from anywhere there's a reliable internet connection.

$400/day = $100K/year for 50 weeks.

Median income in the States in 2011 was $50,054, so $100K is not too shabby by any measure.

 

[Ol' Yella]

Quote from NoDoji:

To get those jobs you have to be qualified. (I'm not qualified for any job that pays more than about $40K a year.)

Nodoji, are your trading/investing activities your only source of income? thanks

 

[Ol' Yella]

Quote from justrading:

$400/day = $100K/year for 50 weeks.

Median income in the States in 2011 was $50,054, so $100K is not too shabby by any measure.

that is household income, personal income median is 26k

so you can see why the daytrading gurus hold such allure to the dreamers out there....

 

[justrading]

Quote from Ol' Yella:

that is household income, personal income median is 26k

so you can see why the daytrading gurus hold such allure to the dreamers out there....

Good point.

Look at those 5 minute charts, it all looks so neat and tidy.......until you actually trade.

 

[oraclewizard77]

They look meaningless to me without indicators.

Quote from justrading:

Good point.

Look at those 5 minute charts, it all looks so neat and tidy.......until you actually trade.

 

[NoDoji]

Quote from Ol' Yella:

Nodoji, are your trading/investing activities your only source of income? thanks

At this time, yes. However, I plan to start a business in a few years that's totally unrelated to trading. I'm doing all the ground work for it now. It appears that it won't take as long as it took me to develop a trading plan, but you never know.

Quote from justrading:

Look at those 5 minute charts, it all looks so neat and tidy.......until you actually trade.

The hard right edge is what matters. Develop a plan with rules you can trust, then trade that plan. Trade what you know (your plan based on proven positive expectancy), not what you think and not what you think you see. Only what you see as related to your plan. If you do this, at the end of the day it's all neat and tidy even if your overactive brain and emotions did their darnedest to make you see things that weren't really there in real time.

 

[oraclewizard77]

I normally don't trade Friday due to contract rollover. So here are the final results. I was able to stay positive. My one losing day this week, I did not follow my rules or that would have been a winning day. Overall I am still happy that I was able to generate a positive return although it was not much. Also, I over traded on the losing day.

 

[atticus]

Hersheey would've quadrupled that account.... each day.

 

[atticus]

Quote from Ol' Yella:

Nodoji, are your trading/investing activities your only source of income? thanks

Surf, you're violating your parole here.

 

[OldSpec]

Quote from NoDoji:

At this time, yes. However, I plan to start a business in a few years that's totally unrelated to trading. I'm doing all the ground work for it now. It appears that it won't take as long as it took me to develop a trading plan, but you never know.

You found a business more lucrative than trading? I was under the impression that you were one of the few successful traders who'd make a fortune trading, and never quit? I say this without any sarcasm.