Trading for a living....full time....only income

[chfaddict]

chfaddict,

You were not profitable for 8 months and now you've been profitable for 1 month after struggling for 8 months.

Here are my questions:

1) How were you able to support yourself for 8 months (e.g. did you have money saved up for 1 year to get you through the initial months of being none profitable) ?

2) This is your first month of profitability...how many hours per day are you now devoting to your trading/studying in comparison to the 15hrs-16hrs per day you were doing during those losing months.

3) Considering this thread is about trading for a living as a full time trader...I will assume this is now your primary source of income. Has this profitable month exceeded your income for one month prior to you becoming a trader ?

With that said, if you can maintain consistency going forward, treat your trading like a business and you'll be able to achieve longevity in this business.

Hey. Hope you are well.

1. During my 8 month "tuition" as I like to call it, some days I would profit, some days I would break even and some days I would just fail and that's not trading - that's down to luck. I personally don't believe in luck when it comes to trading.

A lot of people don't really know what trading is. I have a live feed directly from the exchange so I know who's buying and selling. It's an aution. Buy at at the lows and sell at the highs. Simple.

I had money saved up so I was very careful with my money and I sacrificed a lot of things, such as my social life - I didn't need to go out - I needed to make money.

2. Now - I can pretty much spend 15 mins into the open and be done but because my system works so well I stay from the opening until the close. I treat it like a business. I start at 09:30 and pack my bags at the bell. I take my lunch break at the same time the traders take theirs; 12:00 EST. I don't need to sit there 15 hours a day anymore but I do - because I'm studying new markets and I love this job.

3. Basically on week one of my successful month of trading I turned $500 in excess of $17,750 with $310 loss using my simple strategy; buy at the lows and sell at the highs; LL, LH, HH & HL levels.
So in my month of successful trading, just trading 1 contract I'm up $65,000.

 

[tiddlywinks]

Hey. Hope you are well.

1. During my 8 month "tuition" as I like to call it, some days I would profit, some days I would break even and some days I would just fail and that's not trading - that's down to luck. I personally don't believe in luck when it comes to trading.

A lot of people don't really know what trading is. I have a live feed directly from the exchange so I know who's buying and selling. It's an aution. Buy at at the lows and sell at the highs. Simple.

I had money saved up so I was very careful with my money and I sacrificed a lot of things, such as my social life - I didn't need to go out - I needed to make money.

2. Now - I can pretty much spend 15 mins into the open and be done but because my system works so well I stay from the opening until the close. I treat it like a business. I start at 09:30 and pack my bags at the bell. I take my lunch break at the same time the traders take theirs; 12:00 EST. I don't need to sit there 15 hours a day anymore but I do - because I'm studying new markets and I love this job.

3. Basically on week one of my successful month of trading I turned $500 in excess of $17,750 with $310 loss using my simple strategy; buy at the lows and sell at the highs; LL, LH, HH & HL levels.
So in my month of successful trading, just trading 1 contract I'm up $65,000.

You need to develop a system so you know when to shut up.
You are a poser wannabee bullshitter and a liar to boot!

 

[chfaddict]

You need to develop a system so you know when to shut up.
You are a poser wannabee bullshitter and a liar to boot!

Oh wow. Now that's what you call a hater. May God help you man.

 

[NoDoji]

I have a live feed directly from the exchange so I know who's buying and selling.

This was a life saver for me. I mean, like, back when I'd get an edge and then a couple months later it would dry up and I'd lose everything, I had no idea who was buying and selling. But once I got that live feed from the exchange, I'd be ready to place my order when a trade was signaled and as the key level came into view I'd see Mark Fisher's name on that 150-lot and I'd be like, "No f*ckin' way, Fish, you ain't baitin' me this time!"

 

[newwurldmn]

This was a life saver for me. I mean, like, back when I'd get an edge and then a couple months later it would dry up and I'd lose everything, I had no idea who was buying and selling. But once I got that live feed from the exchange, I'd be ready to place my order when a trade was signaled and as the key level came into view I'd see Mark Fisher's name on that 150-lot and I'd be like, "No f*ckin' way, Fish, you ain't baitin' me this time!"

I use it to avoid your trades.
There is a special subscription that links the traders name to their elite trader profile. This way I can avoid trading against you and all the other elite traders.

 

[Trvlwanderer]

I use it to avoid your trades.
There is a special subscription that links the traders name to their elite trader profile. This way I can avoid trading against you and all the other elite traders.

That's how I have always done it. Sometimes I just look into the window of the exchange and get a feeling for the next trade. Even reading lips will give you an edge.



great post newwurld. I believe we both added one more chucklehead to the ignore file.

chfaddict= phony

 

[AdrianHagh81]

This was a life saver for me. I mean, like, back when I'd get an edge and then a couple months later it would dry up and I'd lose everything, I had no idea who was buying and selling. But once I got that live feed from the exchange, I'd be ready to place my order when a trade was signaled and as the key level came into view I'd see Mark Fisher's name on that 150-lot and I'd be like, "No f*ckin' way, Fish, you ain't baitin' me this time!"

Whut ?

 

[me1969]

after 5 years of research ,finally it's near one year that i'm consistently making money and it's my full time and only income.
although this 5 years was the worst times of my life,i learnt patience and self control.
i understand the importance of psychological aspects but i don't know why a lot of people underestimate the importance of an edge or a system.
i sacrificed my time , my money and my 5 years ...

although achieving a consistent system was hard- so hard that i can not express it,but the more tough issue was my nationality. i'm Iranian and due to rigid sanctions opening trading account/ transaction was impossible . by decreasing Iran national currency by 400% in only 3 months ,all of my hope was ruined...
i had also big issues with internet speed ,here any real high speed internet is forbidden due to rigid censorship ,now my every click on remote trading server has near 10 seconds delay .
i trade in behalf of another person account and every month i fly two way 16 hours duration for getting my income in cash after deductions.(any banking transaction to Iran is impossible)

i'm siting in front of charts 15 hours a day and i'm increasing my balance each month and my hope is only one thing : be in a country with a standard internet and having a banking account without fear of getting frozen due to stupid nationality ...

Great post! It reminds me again how thankful I should be.

 

[Tonkadad]

Whut ?

I believe Nodoji is letting her English side out and being a little cheeky.

 

[Commodity_Trader]

Great post! It reminds me again how thankful I should be.

yes man, be thankful to life .i feel disaster of this country in every minute and every second of my life .i'm the only one person in whole of Iran with 80 million population who trades CME .sometimes i ask myself what can be harder than my current situation.