What did it mean to finally "get it" to you? "Get it"=becoming profitable

T

TrueProp

In another thread, another profitable trader said that after finally achieving profitability he feels that the popular idea that there is a time that you cross the threshold and you finally "get it" is false.

I disagree with him --- but even while disagreeing, I'm not sure what it means to finally "get it". Is it risk-to-reward? Is it proper setups to suit your trading style? Is it proper psychological approach? Is it understanding when to trade and when not to trade? I don't think it can be any one thing alone, it would have to be a combination of many things IMO.

I'm curious what other profitable traders' opinions are of what "getting it" means to them --- besides getting the money of course. Who knows... maybe this thread could be helpful to guys that are still trying to get the proverbial "it". Thanks.
 
Quote from startraitor:

Making it is easy, not losing where it gets a bit tougher.
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Making it easy for some people. But for something like 95% of the people that attempt this career it's incredibly difficult.
 
During my moment of epiphany, I had realized that even the best, most absolutely perfect-looking chart pattern/set-up has a 50% chance of failing.

So, if you must, buy/sell half before the break, and the other half after the breakout/down.

Also, M.M.s will try to trick you by producing half a break-out/down... As in the stock will go half way towards the break-out/down price and then quickly reverse direction.

Btw, day trading = risky.
swing trading = least risk (mainly b/c you have more time to stalk and properly enter a set-up).
investing = full-blown risk.
 
One of the things that I realized that made me turn the corner is when I stopped waiting for confirmation to take a trade. If the market pulls back(which it does all the time, hints one of the most highly probable trade setups to take) instead of waiting for a confirmation, just get in, think about it your stop will be further away then if you wait on confirmation so if you do get stopped out then most likely the trend changed. Thats how the big boys trade, they don't wait on confirmation after confirmation. JMO
 
There is nothing to get. That's the problem. Once you get that there is nothing to get, than you've got it. There is no secret sauce, magic pill, special meditation, valuable newsletter, timing service, or trading method that's going to turn you from loser to consistent winner. This is a risky business. Everyday is a roll of the dice. What worked yesterday may not work at all today. That's why back-tested systems aren't worth much. From One Good Trade:

There is nothing to 'get' as a trader. What works one month may not the next. Trading set ups you crush one year may be extinct the next. As prop traders our job is to recognize present patterns and exploit them. But we also must have the humility to accept that these patterns might change at any moment. And when they do we must find new patterns. We must adapt.
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Only bet on sure things and with the trend. Do it often... get in ahead of the momentum guys where applicable..
 
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