Who has started out with nothing, learned how to trade on their own, and now makes $?
- Thread starter BulkCity
- Start date
I started out in 1973 while in High School and nailed the soybean move. I was so rich for a kid in high school. I ended up broke 5 months later, and that was the best trading lesson I ever learned. I finished school, got a seat on an exchange, and listened intently to the 80 year old traders I cultivated. Ultimately, I'm on my own, and have been independent for the past 30 years. Sometimes things are good, sometimes things are bad, but it could be worse.
I recount all my stuff on my blog http://masteroftheuniverse.wordpress.com
I know I'm not supposed to post blog addresses, but this is for edification and entertainment purposes only.
Jeff
I recount all my stuff on my blog http://masteroftheuniverse.wordpress.com
I know I'm not supposed to post blog addresses, but this is for edification and entertainment purposes only.
Jeff
How do u learn to make a living trading?
I would say it is different for everyone depending on what type of trader u wish to be. The one lesson however which EVERY trader must learn to be succesful is to keep profits at all costs.
Many traders stay in a spin cycle for very long time making profits in March, only to give them all back come May. Doesnt really matter what you do, so long as the winners are frequent, and the losers kept small. I train new prop traders, and it amazes me the propensity for which inexperienced traders will churn out trades until they have found a way to give already closed profits back.
Once you start keeping your profits, it will become a habit, and your account will grow...your confidence will grow...and you will begin to realize what makes you money and what does not.
Books and market knowledge are great things for a trader to have, but never forget they are only a means to an end for a trader. What counts are profits. If you want to sound smart and have profound debates look into becoming an analyst. I know some traders that couldnt tell you all the stock in the Dow, but have had $40-50k months.
Keep your profits, keep your losers small...That will keep you around through the very tough first 2 years....if youre still around after that youve probably already learned the fundamentals through experience.
I would say it is different for everyone depending on what type of trader u wish to be. The one lesson however which EVERY trader must learn to be succesful is to keep profits at all costs.
Many traders stay in a spin cycle for very long time making profits in March, only to give them all back come May. Doesnt really matter what you do, so long as the winners are frequent, and the losers kept small. I train new prop traders, and it amazes me the propensity for which inexperienced traders will churn out trades until they have found a way to give already closed profits back.
Once you start keeping your profits, it will become a habit, and your account will grow...your confidence will grow...and you will begin to realize what makes you money and what does not.
Books and market knowledge are great things for a trader to have, but never forget they are only a means to an end for a trader. What counts are profits. If you want to sound smart and have profound debates look into becoming an analyst. I know some traders that couldnt tell you all the stock in the Dow, but have had $40-50k months.
Keep your profits, keep your losers small...That will keep you around through the very tough first 2 years....if youre still around after that youve probably already learned the fundamentals through experience.
I think all of us need some capital to start trading. How does anyone start with nothing to trade? Taking a loan? Anyone start by pooling funds from family and friends?
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I can't tell you how it came to take me so many years to learn that instead of placing piking bets on what the next
few quotations were going to be, my game was to anticipate what was going to happen in a big way
-- Jesse Livermore
<a href="http://turtlezilla.com/articles/38-steps_to_be_a_successful_trader" alt="38-steps to be a successful trader" style="color:#eeeedb; text-decoration: none; font-size:0px">38-steps to be a successful trader</a>
________________________________________________________________________________
I can't tell you how it came to take me so many years to learn that instead of placing piking bets on what the next
few quotations were going to be, my game was to anticipate what was going to happen in a big way
-- Jesse Livermore
<a href="http://turtlezilla.com/articles/38-steps_to_be_a_successful_trader" alt="38-steps to be a successful trader" style="color:#eeeedb; text-decoration: none; font-size:0px">38-steps to be a successful trader</a>
i like the matisse. you are a man of fine taste!
surf