Transition to full time trader quitting school and work
- Thread starter apo99
- Start date
imho no problem at all,
because market manifests all problems to the trader very fast and very vividly
and trader knows it, suddenly not knowing what to do, sensing his own fear, and feeling at lost....
whole psychological section of this forum can be thrown to garbage, because first and foremost reason of so called psychological problems and sabotage is trader's unconscious feeling that his method does not work....
there are only two sorts of people who believe they know what they are doing: the complete idiot newbie and very experience traders...they both will have their believes shattered by market sooner or later, newbie will die, while trader will stop trading until solution is found, and his beliefs will resume
everybody else (newbies that refuse to die
) straggling to believe because they know the truth - they do not know what they are doing... but life does not wait - one has to support himself, his family, etc... and while having no time , no money, no method, they have to step on the plate and trade.. and they do... knowing that they should not...and they dieis it not like that with anything in life..?
the only difference with trading - the dramatic increased of the probability of failure, since unlike most other humans's enterprises here knowledge is not shared
luck is important factor, but one should not wait for it
one should just do what he thinks is the right thing to do, and then what happens happens
Geez, wish I knew the people you know.
I beg to disagree with you there. Traders are , from what I have observed, people who shared their knowledge the most. The only problem, is most of those who ask, do not take into account the advice they are given. Just one example, some advice given by SOME traders, could be to clock in at least 10,000 hrs of screen time. Most aspiring traders would dismiss this advice. Some others would advise to take care of the "psychology", most aspiring traders would neglect such information ( I count myself as one at the start).
The problem is not that knowledge is not shared, it is that aspiring traders have a fixed idea of what "knowledge" they need to succeed in trading, and most are not ready to listen to advice given.
This was a very close friend of mine whose parents have some serious cash
I think that the 90% failure rate is true for everything not just trading. Very few people are willing to put in the work for anything that's why so many people just become average. 1 out of 50 people who will join a gym will end up losing weight and putting some decent size on, most just quit after 1-2 months. Most people who play golf still shoot over 100, very few ever break 80. How many anglers have spent time on the water to catch multiple 50 inch musky. I have spent thousands of hours on my hobbies/passions in life to become great at them and realized that so few have the heart or disciple to do so. Trading is no different
Sadly he didn't give me the money he loaned it to me for the next 36 months.