Trying to transition from full time job to trading. Having trouble with discipline.

Just alternate between black and red and double your bet until you win.

jinxu said:
Hello all,

I'm still working but am practicing my trading skill during off work hours. I have two way to trade. But not wanting to give out too much details, I'm going to us an analogy referencing the tortoise and the hare fable.

I have one trading system that is boring slow but steady and consistent. Using this system has giving me close to a 100% success rate so far this month. Risk is minimized. Problem is the the profits are slow but they add on. (the tortoise)

The other trading system is more exciting fast quick large. Using this system takes on more risk. But I can get richer if it success. However I can lose just as much quicker if it doesn't work out. (the hare)

I know logically I should trade like the tortoise. But I get impatient and have the urge to trade like the hare. How do I stop this?

I feel like I missed out on a lot of big hits and home runs trades by not trading like the hare. Which contribute to me being impatient.
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jinxu said:
Hehe. What if I want $56 million in 1 year?
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Easy, like one poster said, start with a larger fortune, perhaps $560 millions.:D

Seriously, you seemed to have a good trading methodology, be discipline and more patient and you will be good.
 
syswizard said:
That would be using stocks. 20 lots in ES futures would be only require $50k in an Interactive Brokers account.
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So that would be 20:1 leverage giving you 1 million buying power. A million a year in trading income would be unlikely unless your putting up 200k plus.
 
jinxu said:
Looks interesting. The website looks very professional.
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Rob Carver's website and especially his blog are awesome.
I love this classification of traders:
  • Super Traders with both the skills and the discipline
  • Committed and useless; with the discipline but not the skill
  • Clever and Chaotic, skills but no discipline
  • Useless and Chaotic, no skills or discipline.
When I was trading Prop, I met many of the 3rd and 4th category...at the time, I was in the 2nd category. No one at this shop was in the 1st category.

Can anyone comment on his book 'Systematic Trading' ?
 
Last edited:
It's an excellent book. Worth reading. Worth implementing. Eventually I want to see how short term it can be pushed.


syswizard said:
Rob Carver's website and especially his blog are awesome.
I love this classification of traders:
  • Super Traders with both the skills and the discipline
  • Committed and useless; with the discipline but not the skill
  • Clever and Chaotic, skills but no discipline
  • Useless and Chaotic, no skills or discipline.
When I was trading Prop, I met many of the 3rd and 4th category...at the time, I was in the 2nd category. No one at this shop was in the 1st category.

Can anyone comment on his book 'Systematic Trading' ?
More...
 
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