If you haven't made it yet, what makes you think you will? 212 replies
How much do you want to make and why do you want to make it 17 replies
Can YOU make money as a professional trader - Redux 112 replies
individual traders vs professional traders 6 replies
Do You See A Trade Here? (A Professional Stocks/Futures Trader Is Coming To Forex) 7 replies
Dislikedummmmmm let me guess, more than five years of experience right? you make "X" amount of pips a month - guaranteed!
i'm sorry but some of your "facts" are really specifics applied to a very subjective and general term. not every pro trader waits and watches for days. those kinds of people are a minority, albeit a famous one. as for the best of the best trades thing, you can never know how good a trade is going to be until after you are closed out. so if he is taking the best of the best trades, hes not calling them that while he's trading....Ignored
DislikedREALLY????? mmmmmm I must be running with the wrong crowd.....funny, I don't have to trade that much to please investors....best of the best, should have been followed up with "set ups" your right, no one knows for sure how good a trade will be, but you hedge your bets by waiting for what you recognize......I answered his question in a way he could relate to it in his own way.....there is no number that a pro trader makes....a "pro" trader offers his investors a ROI over time...not per day or per weekIgnored
DislikedThis could be a silly question, but I was just wondering if anyone can estimate how much a professional forex trader might make.
Obviously this depends on the size of their account and how much they want to risk, but I was unsure if there are any implications in trading once you have so much money (maximum on trading lots, etc.?)....
Thanks for your input!Ignored
Dislikedwell, if your Bruce Kovner, you make about 300mil a year. if your a pro at goldman, your probably taking in around 10mil. if your a CTA, your probably making few mil per year. pretty much everyone else is paying these guys salaries
these are generalities, check out market wizards to read some case studies on individual traders, you'll find there is a large range of personalities and profits.Ignored
DislikedThis could be a silly question, but I was just wondering if anyone can estimate how much a professional forex trader might make.
Obviously this depends on the size of their account and how much they want to risk, but I was unsure if there are any implications in trading once you have so much money (maximum on trading lots, etc.?)....
Thanks for your input!Ignored
DislikedA professional trader makes money. Amateurs lose it.
Sometimes they make good amount, sometimes they loose some. In the end, we all lose at times but the pros know why they lose because they have better risk assessment.Ignored
The sticking point, however, is this:
As potential for any winnings increases the less work involved, excitement about money turns exponential.
With this in mind, the tables turn when I break down how I look at money:
I get excited at cash, any cash, I see right in front of me. Except pennies, I guess, or someone else's. It used to include credit/debit cards, when I first got the cards.
On the other hand, I think of obligations when I know lots of money is in my pocket, is the little I put on my cards, or is portioned for future use in the bank.
If I trade as much money as I can, cash and leverage, on a trade, then I "see" all the money I have right in front of me. If I enter the market with this money without a well-designed trading plan and during, say, one minute before NFP, then I maximize my excitement.
What's the cost? I lose my money and then I get to see cash, any cash, I see right in front of me, because that's all I'll have -- five or ten cents or dollars. So, I get more excitement, especially if I lose some dimes and then find them a week later. Yippee!
This is all given one used only one's expendable money, taking care of essentials with other funds.
What if I had to live on what I earn trading?
I can't really envision the situation changing for this. Reality in the form of the five-points list won't naturally set in to how I trade; the two-choice excitement or obligation one will.
A well-designed trading plan respects the latter and ignores the former. It limits how one earns, to make pocket change valuable and big money an obligation. It recognizes trading is like the lottery or gambling, in that it has a high potential for a big windfall.
Thus, one takes each big win as exactly that, and stops right there to remove some for obligations; it also takes each small win, and rewards the trader with a pocket of change. Sensory input is critical at this stage: See the money, talk about it, and hear it jingle and fold in your hands. This IS about the money. One must go on and live to enjoy. Sharing what little one has is good, too. Losses are to be silently put away, forgotten in the balance, absorbed by the money one also earned and never touched, and considered only in the totality.
What if you never win? Then train. Stop trading for real and Work. Money is fun, understand that; work for this, and if not this, then the skill, risk and time it takes to work. ALWAYS reward yourself when the money is fake, even if you just lost a lot: It's still pocket change. Go all the way and be used to earning a living at trading. Pretty soon, it'll grow on you.