Hi,
I would like to address some of the issues I've been thinking regarding what us (small) retail traders have to overcome so that we can be successful as retail traders.
So, we have to have developed mind, method and money management at first.
We have to have a consistant approach and realistic expectations. This is sometimes hard when you have a small account and you want to be "free" and "independent" as this is the dream we are being drawn to. If a big fund makes 12% a year, it is hailed as one of the best. If we make 12% this is regarded as small potatoes. We aim for much bigger returns which may not be achievable with proper money management and risk taking which can take a hard hit onto our equity.
Another issues: there is a gap between expectations and reality. If you have an account of less than EUR 5,000, it is hard to be able to trade for a living.
you want to, but you just can't.
Jobs: you cannot find a job as a trader (in any form, either as a trainee, as an internship, trading a small account, etc). From what I've looked there is demand mostly for programmers, systematic automated trading systems and you can mostly find jobs in sales.
I don't want a job in sales, I just want to trade but I can't. There is this whole aura of mystique regarding traders and the money they earn, but you just can't find any job as an FX trader.
The banks here don't trade their own account, they just meet the supply and demand and make their cash based on volumes and commissions.
Also, I am affected by this gap between reality and what I can realistically get.
So how do you cope with these issues mentioned above, am I the only one thinking like this?
So to sum it up, you can have the method, the mind and the money management but if you don't have the absolute cash amount, the determination to consider yourself good if you can average 10-15% / year each year and you can't find a job, what can you do?
Really expecting feedback on this!!!
all the best,
I would like to address some of the issues I've been thinking regarding what us (small) retail traders have to overcome so that we can be successful as retail traders.
So, we have to have developed mind, method and money management at first.
We have to have a consistant approach and realistic expectations. This is sometimes hard when you have a small account and you want to be "free" and "independent" as this is the dream we are being drawn to. If a big fund makes 12% a year, it is hailed as one of the best. If we make 12% this is regarded as small potatoes. We aim for much bigger returns which may not be achievable with proper money management and risk taking which can take a hard hit onto our equity.
Another issues: there is a gap between expectations and reality. If you have an account of less than EUR 5,000, it is hard to be able to trade for a living.
you want to, but you just can't.
Jobs: you cannot find a job as a trader (in any form, either as a trainee, as an internship, trading a small account, etc). From what I've looked there is demand mostly for programmers, systematic automated trading systems and you can mostly find jobs in sales.
I don't want a job in sales, I just want to trade but I can't. There is this whole aura of mystique regarding traders and the money they earn, but you just can't find any job as an FX trader.
The banks here don't trade their own account, they just meet the supply and demand and make their cash based on volumes and commissions.
Also, I am affected by this gap between reality and what I can realistically get.
So how do you cope with these issues mentioned above, am I the only one thinking like this?
So to sum it up, you can have the method, the mind and the money management but if you don't have the absolute cash amount, the determination to consider yourself good if you can average 10-15% / year each year and you can't find a job, what can you do?
Really expecting feedback on this!!!
all the best,