Yes, that is how successful traders trade. I worked today from 9 am to 3:30 pm. However, I will get paid for 8 hours since I am full time. I then turned on my trading platform around 7:30 pm, I analyzed the CL. While my bias is to trade up due to inflation. Price had fallen today and therefore the trend for the day was down and I found a good scalping entry to short. I then automated my stops and targets and did other shit, then my target was hit, and I turned off my trading platform.
Why does it always rain on me?
- Thread starter Blitzjoker
- Start date
Yes, that is how successful traders trade. I worked today from 9 am to 3:30 pm. However, I will get paid for 8 hours since I am full time. I then turned on my trading platform around 7:30 pm, I analyzed the CL. While my bias is to trade up due to inflation. Price had fallen today and therefore the trend for the day was down and I found a good scalping entry to short. I then automated my stops and targets and did other shit, then my target was hit, and I turned off my trading platform.
Hello oraclewizard77,
Yessss indeed, Yessss indeed. Yessss indeed.
I do similar to this daily as well.
Hit them quick licks and go do other stuff.
Make that easy money!!
it is too hard and stressful trying to trade for a living. I always think of Trading is a side hustle to trade consistently profitable over time to scale up the contracts.
Now if the side hustle can put a $1,000,000 in my account while I a still working, then maybe, just maybe, can go full time trading.
IMO, it is not worth the effort and hard work trying to trade for a living if new to this game. Just not worth it. You will lose all your money and will eventually kill yourself and no woman not going to want you afterwards.
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I agree with all the recent comments. I play some online chess to a reasonable standard, and I am amazed by the number of threads started by people who have just more or less learned the rules asking how long it will take them to become a grandmaster. (The answer is they probably never will, even if they spend 8 hours a day at it for 20 years, and there are surely better things to do with your time).
It is similar here with regular queries about whether someone can make a living trading when they have been at it for a couple of weeks. Surely the first goal is to stop losing money, and then see if you build some skills and some capital and see how it goes. I am sure there are some people here who make a living trading, but they must have put in some hard miles to get there.
It is similar here with regular queries about whether someone can make a living trading when they have been at it for a couple of weeks. Surely the first goal is to stop losing money, and then see if you build some skills and some capital and see how it goes. I am sure there are some people here who make a living trading, but they must have put in some hard miles to get there.
Almost everyone learns to trade on his own. I think a person who enjoys playing the game and has an inquisitive mind is best suited for learning.
The initial goal should be to stay in the game and keep the tuition low, and most importantly to figure out if the learning is being done incorrectly, and if so, to correct it. The learning curve is concave (slow initial improvement that accelerates at later stages). The key milestone is to become operational.
People who focus on the money, i.e., making a living, and who are accustomed to passive learning face a lot of difficulties. The best solution to these limitations is to latch onto someone who knows what he is doing. This is also the only shortcut I am aware of.
But trading isn’t organized like chess where there are a lot of great books and many trainers with high ratings and off-the-shelf engines that play close to perfect. In chess the process of becoming a player in the top 1% is widely known and available to anyone willing to do the work. Even becoming a GM is much more egalitarian today than it has ever been.
The same cannot be said about trading. The trading “education” industry is unregulated and full of hacks and slick salesmen and trading failures who make a living steering their customers toward mediocrity because that’s all they know. In chess or in the markets, mediocrity does not cut it.
The initial goal should be to stay in the game and keep the tuition low, and most importantly to figure out if the learning is being done incorrectly, and if so, to correct it. The learning curve is concave (slow initial improvement that accelerates at later stages). The key milestone is to become operational.
People who focus on the money, i.e., making a living, and who are accustomed to passive learning face a lot of difficulties. The best solution to these limitations is to latch onto someone who knows what he is doing. This is also the only shortcut I am aware of.
But trading isn’t organized like chess where there are a lot of great books and many trainers with high ratings and off-the-shelf engines that play close to perfect. In chess the process of becoming a player in the top 1% is widely known and available to anyone willing to do the work. Even becoming a GM is much more egalitarian today than it has ever been.
The same cannot be said about trading. The trading “education” industry is unregulated and full of hacks and slick salesmen and trading failures who make a living steering their customers toward mediocrity because that’s all they know. In chess or in the markets, mediocrity does not cut it.
Good Morning Savoir,
Do you know of any trader that learned from some other consistently profitable trader, and now that trader is making +$XXX,XXX per year trading for at least 2 years?
Thank you,
Good morning, SimpleMeLike. The answer to your specific question is no.
But +$XX,XXX for a little more than a year until end of 2021. She started from scratch in March 2020 and spent about 6 months learning beginner level stocks, long only, no margin. This is her first experience with a bear market. She is sidelined and absorbing as much as she can.
You can ask me again after at least 2 years in the next bull market. I can give you an update about +$XXX,XXX for two years. I think she has a good chance. She has an account $XXX,XXX to work with.
Hi SimpleMeLike,
There have been documented cases of traders teaching other traders. But normally this involves funding as well and a profit split. eg Turtles. So that is the incentive to the teacher, the student gets funded and hopefully makes money for the teacher.
People who charge large fees to teach are mostly charlatans.
In the New Market Wizards book, Trader Vic said he spent a lot of time teaching 38 traders his methods, only 5 made money for him. In the end he said it wasn't worth the hassle.
The Turtles were taught a more rules based method, and so there was more success but that system required a six figure account. And continued to work well for about 10 years.
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Hello Millionaire,
Thank you for the response.
Yes, because I will never teach someone how I am trading making $millions of dollar a year or even +$XXX,XXX per year.
It is stupid to teach people how to trade and make money, if I am already trading and making money.
Now if you are pimping and scamming yes, just make up some fake trading course and sell to the new traders and take their money. That is the new trend now.
I know that well. Now trading just 1 trade per day. For few months I can be making nothing even floating in a drawdown waiting for an equity rise to get a "buffer" that allows to me increase to 2 trades / day and add more contracts eventually. Big patience lesson for me but I risk a lot so few winners and I am €€€ positive overall. What I found when daytrading / scalping less is more for me. More I trade less I make (on average).
Tough thing is I am still required to do everything correctly day by day to keep my edge active. With 40% you can easily get 20 losers in a row ... Happy trading!
SimpleMeLike, your negative sentiment towards helping another person achieve success is not unusual. It is probably the norm.
My view is that my life is not only about taking but also giving. For me, teaching another person how to trade stocks is not stupidity, it’s serendipity—right time, right place, right person.
The pandemic lockdown turned out to be an ideal setting for transference and learning.