What Will You Do When You Go Bust?

[Phantom Trader]

Again, you unfair tease! You never told us that your ex-wife was married. (p.s. still waiting for the pics)

 

[CalTrader]

Quote from redart:

I typically see people take at least a year to become profitable.

I hope you're right!

FYI: You should not be doing trading for a living unless you truly love it. If you switched industries to do trading without a clear understanding of the job and what it entails then shame on you.

I think I had quite a clear understanding of what trading would entail. I spent a good six months of preparation for it, I certainly didn't go in blind.

A beginner without any experience in the business needs to learn from someone: in these cases a prop firm or something similar is a better path than trying to learn it on your own .....

I did trade at a prop firm, and I was much less of a beginner than some of the others that started at the same time as me (what in the world where they doing!). Still, I think the whole thing is overrated. Eventually, you still have to learn it for yourself. I didn't find that I was taught very much above and beyond what I read in the books.

I learned directly and indirectly from some of the people that started the modern futures and options industry. I think that to truly be successful in the business you need to apprentice with people of this caliber: there are lots of prop firms about and very few will truly give a someone new to the business the type of information, insight, and training that is necessary to succeed. There are some out there though: whats wrong with trying to find a better group ?

Yes, you have to learn it yourself but a good group of professional traders that are willing to train you will cut down on the learning curve: Find one that has consistenly made money for several years and find a way to get in.