Trading Profits

[Utah]

Hello Michaelhepworth,

I have been learning trading part time and trading for about 4 years, and have made $0.00. Overall I'm down -$7000 and many many many many hours invested.

What do you think you need to make it work? Is it psychological? Do you feel like you're starting to get it, though?

I hope things turn around for you.

 

[Utah]

I'm not responding to the poll. Whatever I vote for, it can't help you: whatever you might reply, that won't help me: whatever the majority vote for, that can't help anyone.

I might be tempted to vote in a % gains poll, but probably not.

I'll post a follow-up poll with a % gain question. Thanks for the idea.

 

[MarkBrown]

Hello Michaelhepworth,

I have been learning trading part time and trading for about 4 years, and have made $0.00. Overall I'm down -$7000 and many many many many hours invested.

it's nothing in the scheme of things, compare to college cost and still you would be a loser when you graduated.

so be thankful for the small amount you have invested in your learning and move on up.

reflect every day what works and what doesn't and keep burning through what's out there.

 

[d08]

I'll post a follow-up poll with a % gain question. Thanks for the idea.

% gains matter less. Making 200% on 2k is nothing. It's much easier to risk when dealing with small amounts.

 

[nooby_mcnoob]

% gains matter less. Making 200% on 2k is nothing. It's much easier to risk when dealing with small amounts.

Not so sure that is true. If you have $2K in the market and your net worth is $4K, I would assume that I would not be comfortable risking that.

 

[padutrader]

in this business it does not matter how much you make....only how much you know.

because that will determine how much you keep

and in the end that is the only thing that matters

 

[d08]

Not so sure that is true. If you have $2K in the market and your net worth is $4K, I would assume that I would not be comfortable risking that.

For most people at the back of their head, they know they can earn that 2k back quite fast. If it's 200k then it's a different story, for the majority that kind of money does not come easily.

 

[nooby_mcnoob]

For most people at the back of their head, they know they can earn that 2k back quite fast. If it's 200k then it's a different story, for the majority that kind of money does not come easily.

Fair enough

 

[Snuskpelle]

I'm not responding to the poll. Whatever I vote for, it can't help you: whatever you might reply, that won't help me: whatever the majority vote for, that can't help anyone.

I might be tempted to vote in a % gains poll, but probably not.

Agreed, whatever you make is going to be related to what you already have and what risks you take. My best month "trading" was $20k on uranium stocks (on $50k account) but I proceeded to give that back to the market the months after due to being fairly green at that time. What could have gone wrong with being all in on uranium stocks anyway?

 

[SimpleMeLike]

What do you think you need to make it work? Is it psychological? Do you feel like you're starting to get it, though?

I hope things turn around for you.

Michaelhepworth,

Good questions.

I feel close that I know "how" I want to trade and what I need to do to trade better.

More time dedicated to 1 or 2 trading strategy I believe have high probability of making money.

Everything is based on time. There are 1 million ways to trade and counting, I have to choose 1. I am down to 2 ways.

In addition, putting in trading education time to enhance the 2 ways I want to trade.

Overall, the time is dedicated to seeing how I can consistently make money trading.

It all relates around time. Time to read, time to practice, time to re write my trading plan, time to simplify my trading time, time to construct an effective not too rigid trading plan.

It takes time. And that is what I recently realized. Eventually it will come.