Do people actually make a living off of trading? | Page 2 | Forex Factory

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Do people actually make a living off of trading?

  • #21
  • Edited 7:21am Mar 31, 2019 7:09am | Edited 7:21am
Quoting gabnic
I have read the five stages of trading. 1) you lose a lot of money 2)you lose a small amount of money 3) you break even 4)you make a small amount of money 5)you make a lot of money Hope this will encourage you not to give up you may be closer than you think.
personal experience...
1 make money with a martingale
2 lose the money while attempting a more serious approach
3 rinse and repeat, this time with small accounts..
4 go back to gambling, this time fully automated.
5 breakeven
6 stop gambling and go back to point 3, this time with leverage restriction
7 enter in the worst market ever
8 breakeven

Btw, I believe there are people who DO trade for a living. it's just too risky for me.
  • #22
  • Mar 31, 2019 7:29am Mar 31, 2019 7:29am
Now that i dropped expectations and reached the break even point using STOP LOSSES, I just let it run.. no more frustration.if it may console you.
  • #23
  • Mar 31, 2019 8:28am Mar 31, 2019 8:28am
Quoting cat
{quote} Interesting! Like everything else in life, you need to find a healthy balance, but speak to any self-made financially successful person, and they will tell you of the sacrifices they had to make to achieve their goal - long hours, exhaustion both mental and physical, in short, total commitment. Trading is no different, but a balance also has to be struck so that there is some kind of release from the rigors and stresses of accomplishment. For me it is family, sport, exercise, reading, anything so long as it recharges my batteries. Quality...
Hi, yeah true words. Most people on earth work their ass off to get food on the table and I buy shit on amazon because I am bored. Just sick. I dont know why I should stress myself, sacrificing quality time now to gain more money to have more quality time later on...the best things in life are free anyway.
  • #24
  • Mar 31, 2019 9:47am Mar 31, 2019 9:47am
Quoting Bsmile44
{quote} It is my part time job at the moment. Has been for a few years now. I started trading so I can live a certain lifestyle but I'm no closer to that lifestyle than when I started. That's why I started this forum because I was losing confidence in trading as the vehicle to get my off the 9-5 train and travelling the world.
My suggestion is; study on market chart (not chart pattern only) and try to understand the full context of market. That’s the way of technical analysis.
  • #25
  • Mar 31, 2019 10:02am Mar 31, 2019 10:02am
Quoting Wachturm
{quote} Hi, yeah true words. Most people on earth work their ass off to get food on the table and I buy shit on amazon because I am bored. Just sick. I dont know why I should stress myself, sacrificing quality time now to gain more money to have more quality time later on...the best things in life are free anyway.
You still trading Dax?
  • #26
  • Mar 31, 2019 10:03am Mar 31, 2019 10:03am
Quoting gabnic
I have read the five stages of trading. 1) you lose a lot of money 2)you lose a small amount of money 3) you break even 4)you make a small amount of money 5)you make a lot of money Hope this will encourage you not to give up you may be closer than you think.
Thanks for posting this. I read the 5 stages years ago and never thought of them again. Do you know what book this is from?
Gentlemen always play by the rules, if they can't, they change them.
  • #27
  • Mar 31, 2019 11:09am Mar 31, 2019 11:09am
Making a living trading, mathematician, boxer, real estate, farming, e-commerce or affiliate marketing is going to be same. You can imagine the world to be competitive and against you. Or you can take the given resources and make something better of yourself. If you're going to think negatively about it, or not have faith you're going to lose.You can break down what you will and what you take in any field in this order of growth.

1) Your intuition plays a big role and through experience you find out how your mind has misconceptions that can lead you astray *this is the level retailers are at.
2) You learn through a coach what the misconceptions are and learn fundamentals, formalism, and foundational skills *Get a coach, someone who has been a world champion or makes them. Someone who probably wants to have his legacy heard by a random person etc. People are more desperate to be heard than to eat and drink. Our species only got this far BY sharing. Hence language was created for our survival and not everything on this planet is entirely motivated by money.
3) You come back to your intuition when you're pro and break the formalism and the rules, or set the rules constantly in these ways... A) when to surrender B) when to use will power. You keep switching these, as if a conversation is taking place. Riding through the universe accepting life and death as the same, fortune and misfortune. Because that's how life is. The exchange between A & B is very critical to well being and nature of all life as described with quantum mechanics and other areas of study. I'll try to impart some wisdom quickly.

You can look up Parrondo's paradox and I'll explain how the physical properties of life can lead to a good solution into gambling games.
Imagine a hill and water. The water goes down this hill, kind of like money is easier to spend, than to make. This is all nature. Entropy.
Then you have people who sit atop the hill and wonder "why is money not coming my way?" And they continue to sit. Retailers, silver spoon people.

But then you have those special people, explorers, if you will. They somehow make two down sloping rods (equity curves) into a physical emergent property of water rising up hill. How is this done...? It's explained in Parrondo's paradox. One rod, A, is gentle and smooth throughout and the other, B, is spiky. This person switches between A and B interchangeably up & down and voila the water coming downhill is now coming uphill. ???? Those people atop of the hill who continued to sit, because it was impossible to think of getting stuff done will continue to sit. While the explorer will look back and say he made 4 down sloping things, or as said in life all of the odds stacked against you into a winning game.

There's actually a ton of more depth into this. There's a chap, CrucialPoint who has posted this very early on. '6D' he was vaguely introducing you to the mathematics of the types of loss and categorized. And this is critical to understand. The way you measure loss with your mind is just slightly off from this truth. It's like Parrondo's paradox. If those rods were sitting still in place, water will continue to flow downwards. The silos you rely on are illusions that hamper true growth.
  • #28
  • Mar 31, 2019 12:26pm Mar 31, 2019 12:26pm
Quoting cat
{quote} You still trading Dax?
Yep... and Dow too
  • #29
  • Mar 31, 2019 12:42pm Mar 31, 2019 12:42pm
Quoting Wachturm
{quote} Yep... and Dow too
Both building for a whopping fall if you ask me, April/May.

Anyway, I have something which may be of interest for you, and will post a new thread topic tonight or tomorrow morning.
  • #30
  • Apr 1, 2019 2:48am Apr 1, 2019 2:48am
Quoting cat
{quote} Both building for a whopping fall if you ask me, April/May. Anyway, I have something which may be of interest for you, and will post a new thread topic tonight or tomorrow morning.
we will see... probably crawling to 27000 first, but who knows..

saw your thread, very nice.. but I dont have a facebook account and will never open one
  • #31
  • Apr 1, 2019 6:48am Apr 1, 2019 6:48am
Quoting Wachturm
{quote} we will see... probably crawling to 27000 first, but who knows.. saw your thread, very nice.. but I dont have a facebook account and will never open one
Shame. Nothing wrong with FB, it's been a real positive in my life, but each to their own.
  • #32
  • Apr 1, 2019 9:50am Apr 1, 2019 9:50am
Quoting cat
{quote} Shame. Nothing wrong with FB, it's been a real positive in my life, but each to their own.
As I see; facebook is popular in Asia; by the way, our personal info is not safe on FB.
  • #33
  • Apr 1, 2019 10:57am Apr 1, 2019 10:57am
Quoting ZikriIrfan
{quote} As I see; facebook is popular in Asia; by the way, our personal info is not safe on FB.
As safe as anywhere else on the internet.
  • #34
  • Apr 1, 2019 11:43am Apr 1, 2019 11:43am
Quoting cat
{quote} Shame. Nothing wrong with FB, it's been a real positive in my life, but each to their own.
Shame is not a nice word, pretty offensive in my language... but its okay I am not faint-hearted

its not because of FB, its just me... I dont like to talk on the phone either... I prefer eye contact. And I dont see how dumb food pictures and duckfaces would make my life any better..
  • #35
  • Apr 1, 2019 3:07pm Apr 1, 2019 3:07pm
Quoting Wachturm
{quote} Shame is not a nice word, pretty offensive in my language... but its okay I am not faint-hearted its not because of FB, its just me... I dont like to talk on the phone either... I prefer eye contact. And I dont see how dumb food pictures and duckfaces would make my life any better..
If it was offensive, I would not have used it. In my language it simply means 'shame '= it would have been nice to have had your company.

I also hate the phone, and am as anti-social as you will find, however, I think it will be good for me to interact a bit more, and share the ten years of experience I have sitting in front of a monitor watching rectangular shapes move up and down, plus you never know, I might actually be able to help one or two people.

All the best, and if you change your mind, you know where I am!
  • #36
  • Apr 2, 2019 2:25am Apr 2, 2019 2:25am
Quoting cat
{quote} If it was offensive, I would not have used it. In my language it simply means 'shame '= it would have been nice to have had your company. I also hate the phone, and am as anti-social as you will find, however, I think it will be good for me to interact a bit more, and share the ten years of experience I have sitting in front of a monitor watching rectangular shapes move up and down, plus you never know, I might actually be able to help one or two people. All the best, and if you change your mind, you know where I am!...
Sorry I got it completely wrong buddy

definitely a good idea, trading with a group will make you even better as a trader! Will have a look at FB later, maybe I can enter a fake ID, dont know

have a nice day!
  • #37
  • Apr 2, 2019 3:18am Apr 2, 2019 3:18am
Quoting Wachturm
{quote} Sorry I got it completely wrong buddy definitely a good idea, trading with a group will make you even better as a trader! Will have a look at FB later, maybe I can enter a fake ID, dont know have a nice day!
  • #38
  • Apr 3, 2019 9:11pm Apr 3, 2019 9:11pm
Quoting Bsmile44
{quote} Thanks for posting this. I read the 5 stages years ago and never thought of them again. Do you know what book this is from?
You can make money trading. You need to trade as many different instruments as possible over different asset classes, currencies , commodities and single stocks rather than indices, diversify as much as possible. Your trades should be done over a number of different time scales and should last from a week at the very shortest up to about 3 months. Take small losses , let your profits run, trail with not to tight a trailing stop. Good luck. Oh yeah, NO daytrading.
  • #39
  • Last Post: Apr 12, 2019 4:50am Apr 12, 2019 4:50am
nice post , thank you Mate , we traders cant tolerate small amount of losses, when making a loss we try to recover by means of over trading , as a result we become loser and blame this market place ,
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