in 6 months when i started trading i made 45 times my starting capital.....yet i had zero knowledge how to trade.....so i know money does not mean you are a trader....
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Young guy wanting to start trading
- Thread starter muenster
- Start date
What took you so long?
because i am an idiot....unlike you apparently.
market movement are simple ....move then correction then move......this keeps on repeating.
yet it took me a longtime make money consistently.....
unless you have one of that you are adviced by experts not to trade.Others may trade but are also supported by family wealth, an inheritance, a mostly passive business, running an online trading service that pays the bills, etc.
but the fact is in any business, unless you can survive the down periods you will not survive.
which is why 95 % of all first time businesses fail within the first year.
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unless you have one of that you are adviced by experts not to trade.
but the fact is in any business, unless you can survive the down periods you will not survive.
which is why 95 % of all first time businesses fail within the first year.
That stat is thrown around and may be true, but if you have a good idea (or mentor, system program, etc) and discipline, there are many businesses you can start with a much better chance of surviving than a trading account. I've run one profitably for almost 15 years that's largely passive.
trading is also a business......and there are many businesses that run like a gambling Baring bank fiasco and bankruptcy was one.there are many businesses you can start with a much better chance of surviving than a trading account.
i lump trading financial instruments along with any other businesses
I'm practicing the VSA and Wyckoff methods in the CME Group markets, and in few months I will start again with trading in a real account.
The age doesn't matter, and if you have the purpouse to fix all your trading mistakes (Inside your mind and feelings while you trade).
Those are nice platitudes that trading coaches like to say, but in the end you need a real edge--not just "good psychology." Today's markets are largely ruled by algos, and I seriously doubt a 100+ year old Wyckoff method will help. VERY few strategies have been held up under robust backtesting and forward-testing...and even when they do, they seem to fall apart as soon as they're promoted and people have enough confidence to follow them.
While options trading is full of landmines, selling premium is one of the few possible edges out there...if you can do it in a way that's carefully hedged and still profitable. It sounds like you're trying to trade directionally which is really difficult...we're not living in the 70s and 80s when trends were strong and lasted long enough for the Turtles to make out like bandits.
I know this isn't what you want to hear...so you can listen to the CME guys if you want. While you're at it, ask for account statements and see how many of them actually trade for a living.
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i lump trading financial instruments along with any other businesses
I don't. There are others with a much greater probability of a high ROI.
markets discount everything including algos and do not forget algos are based on technicals so i do not think they change markets.......markets still go where they are allowed to goToday's markets are largely ruled by algos,
I don't. There are others with a much greater probability of a high ROI.
none that are legal.......
and none that have a lesser cost of entry than day trading.....show me business where you can enter with 200 usd
you need not agree with me.....
why do you not believe they do?While you're at it, ask for account statements and see how many of them actually trade for a living.
most business just get by
you do not need to make a lot of money to live....provided your wants are reasonable