Can YOU make money as a trader?

Every honest, seasoned trader will admit that there is the gambling component there, to say the least...
The ones that are "NOT UNCERTAIN" are a disaster waiting to happen (I would be scared shitless if some trader will say that to me and I have money with him - well that is unless he really is UNCERTAIN , at least in this market..

Just reminded of some excellent (reference) quotes that comes to mind...

Magin Call (2011) - MOVIE...
You can deduct who says what... or check the clip, but you will get the main message...
"Whatever, it's the same thing, but I made nearly a quarter of a million dollars last year. Fuck. For what? I push numbers around on a computer screen. A bunch of glorified crack addicts are willing to take that information, and they pretend to understand it, and they bet it against some other jock halfway around the world who, you know, if he wasn't doing this, he'd be in an OTB somewhere, putting it all on number seven, you know? At the end of the day, one guy wins, one guy loses. You do know it's a little more complicated than that, right? Yeah."
Read more: https://www.springfieldspringfield.c...ie=margin-call

And this one.. (real story)
Rogue Trader (1999) - MOVIE..
"Thats all the market is, one giant casino."

Wolf of Wall Street (2013) - MOVIE...
Mark Hanna : Number one rule of Wall Street. Nobody... and I don't care if you're Warren Buffet or if you're Jimmy Buffet. Nobody knows if a stock is gonna go up, down, sideways or in fucking circles. Least of all, stockbrokers, right?

Wall Street (1987) - MOVIE...
If you are not inside... you are outside...
BEST provide the clip:

But yeah, you could still make money, there are many ways.. I just find it good to be aware/humble of certain realities also... for example to not waste/burn/spend your first BIG PROFITs to the ground... in the "CERTAINTY" that is is just a beginning of massive loads coming, better to be at least little careful. Do not ask me how I know this I knew some traders that earned BIG money in a matter of days and they were 100% that this is just a fraction of what is coming, exponentially... They LEFT the market for months, to CELEBRATE the "holy grail"... and they also SHARED this with fellow traders... well you use the imagination what happened next People copied, massively, market adapted...

So yeah, ANYTHING is possible, in either direction.... one more QUOTE for THE GO... (DE)MOTIVATION from Margin Call (2011).
"It's all just the same thing over and over; we can't help ourselves. And you and I can't control it or stop it, or even slow it, or even ever-so-slightly alter it. We just react. And we make a lot of money if we get it right. And we get left by the side of the road if we get it wrong. And there have always been and there always will be the same percentage of winners and losers, happy fuckers and sad suckers, fat cats and starving dogs in this world. Yeah, there may be more of us today than there's ever been. But the percentages-they stay exactly the same."
"GOLDEN CLIP":

What I personally love about WS/markets etc.. is that there is no BULLSHIT, no "hypocrisy" if you can believe it In a way that they do not PRETEND to be there for something ELSE.. It is OPEN that they are all in it for the BUCK... unlike other profession when they pretend that there are in it for something ELSE... But in reality...
In WS they are at least HONEST about it You are BEST friend (and very good PAID) TILL you bring GOOD MONEY/RETURNS.. and nobody knows you AFTER.. but that is GREAT, because you know the rules of the game... Other professions are like... WORK for peanuts... but cheer yourself you are doing for higher good, for friends, joy of that etc... But when the money comes... it's just about the money Sharing/socialising the loses, privatising the profits... I find WallStreet or the whole financial industry to be the most honest about it, at least from my experience... It helps with negotiation, because MONEY TALKS and BULLSHIT takes the BUS (Wolf, 2013

2 more, reference to the things I wrote...
Boiler room (2000)
"People come and work at this firm for one reason, to become filthy rich, that's it. We're not here to make friends, we're not saving the f--king manatees here, guys. You want vacation time, go teach third grade public school."
You can google it "the boiler room speech"

And I love how Gekko doesn't pretend... he says it himself...
It's all busllshit..


P.S. That is story for another time.. but Bud Fox had a identity crisis in the middle of "the movie".. from GETTING RICH to MAKE DADDY PROUD.. that f. things up...
Gekko was pretty consistent through the movie, reliable therefore... Bud this Bud Fox.. upgraded "the evil" of insides (went directly to stealing info from law office, not just deducting from some clues)... untill it wasn't enough for him, wanted to make daddy proud also.. and mentioned Gekko there is some shitty stock with 70mio laying around... (overfunded pensions).. and he expected what exactly? TBC another time....

Real card counter caught at a casino!

Some Forex brokers also ban the consistent winners just like the casinos. Depending on the size of the broker and their business model and risk strategy some brokers will block or close your account as soon as you start withdrawing 5-10K on a regular basis.
In fact, they will put you on the watch list as soon as your withdrawals exceed your deposits.

Brokers normally will place you in a different book instead of betting against you.

You can somewhat stay under the radar by trading multiple accounts. My constant win-lose ratio gives back but the forex bucket shops, the shops that hold your position on the other side, don't like it when you take their money. So trading forex is only to build a stake or to screw the operator and get them to trade against you big while you run profits on futures in another account.

Eventually you will need to get into the pro shops and trade currency futures. No bucket shop can afford a winning trader.

Quite true; I have witnessed such activities already.

So, what are traders gonna do about it?
i mean, when someone has become a successful trader and want to trade for a living.
But, brokers keep ban him away.

I thought that, we open several account on several brokers.
for example, we trade and withdraw $500 at 5 different brokers, would it means we are out of the radar?

trade prop money for the broker!!

since that is a win win for the broker, cos if you are profitable they will automatically A book you and benefit from your profit, plus charge you for the volume too.
is it viable possibility?
certainly yes.
i happen to know someone who is doing it.

hi GearZero,

your broker will only hedge against those traders who fulfill certain profit parameters over defined time intervals.
everyone else is paying the broker directly out of their account.

hope this helps
s

Do not worry for a second about this... Ussually they ban "cheaters"... Yeah I know cheats are uncommon and very hard but those that do get banned are most likely exploiting some technical advantage and got banned on latency arbitrage or similar... If you are really a successful trader... Meaning you have trades within very desired parameters... Good return (to DD ratio), good number of trades/volume over a good amount of times... They will throw money at you.. Many players... They will find the "under the radar" strategy even, if you would need it... You can earn a lot yourself... Even if that means (which I don't believe at all - that you would NEED to do this in order to prevent BANning) to open/close many accounts or to form companies to "clone yourself" or your trades...
If all else fails you even have intrabank access or become a broker yourself It depends how (really) good you are... I believe there are bans happening on a daily basis.. In fact, I myself received permanent BAN at one of the broker... but I know/suspect why But if you are making "real" trades... there is no absolute no worries about banning, specially for regulated broker... Even the one that banned me quite a while ago... did pay me the (good) profits that I made prior the BAN decision or from the last (audited) report... But if you are talking about latency arbitrage etc... yeah... you would need to find a strategy to stay below the radar and to be on the legal side of course

I think that everyone can engage in trading and thus get a stable and quite good income. Everything depends on your attitude to trading. If you perceive trading as an entertainment or a way of earning money, then you will never see a great profit and most likely will not enjoy the whole process. But if you prepare a competent business plan, think through all your actions and are ready to work on yourself and your capital every day, then you will definitely see great prospects in this business and, accordingly, consider yourself a real trader who understands the market and knows how to earn for himself and his family.

In short no - one can't make money by trading. Some will but I doubt it will be

A/ regular B/ Enough to support family of 4

Maybe back in the early FX days traders with a plan could make money but now its set up to take the publics money - that's was why it was introduced to Joe Public.

Additionallly, from my experience I learnt
1/ I wasn't making enough trades

2/ currency markets don't move that much often enough on higher timeframes

If I were to do it again I would paper trade the 5 /min timeframe (open and close) for a month and then decide if my strategy works

I always look for profit. But it is very difficult for me. I face loss most of the time. I also want to know how can I make profit from this risky market?

I wanna say I believe anyone can make money from trading IF they meet the requirements you need to meet to trade profitably, I will not mention them here, since they are very simple and straightforward. BUT it takes incredible amounts of work, and it's the boring type of work. You will not just become profitable when you get a working method, it takes so much more than that.

You CAN make money from trading obviously.. I do it consistently myself, and let me tell you the profits are nice..
Enough of bragging, I have made multiple posts about how someone literally could become a profitable trader, just by following what I said.
I was in the same retail shithole when I first started, but I managed to get out. I honestly believe if you are willing to put in the work, and have the desire from within you, don't think about the money.. the average trader loses money.. Get a normal job if you want money, statistically speaking that will benefit you.

If you love trading, you can become profitable by following simple steps & putting hard work in, it will be a long process of a lot of late nights and some incredibly de-motivating moments.
Honestly when i'm writing these posts I feel like it's kind of useless, because most people that are not successful will simply skip it and google "best strategy" and continue to lose money.

- William

Success in trading is more about entry point than direction. If you dont enter at the right entry point, even if you are right ; you can still lose money. Cause the market will take your stop and then go your way. Took me a long time to discover that direction is not important at all. Where you enter and where you put your stops will decide your fate.

Where you enter is important, or rather timing is important. But where you exit the trade is the most important and hardest part. Now entering in the "right direction" is one trading style (trading with the trend) I like to call tops and bottoms, and I've been really profitable, much more than following the trend, but it is because the core principles of my method forces me to trade reversals.

The better question is... Can you KEEP money as a trader Saw that for real traders it seems much easier to MAKE it than to KEEP IT Hence, it is best to be able to MAKE IT RAIN and! know when not to trade Those two kept me profitable, till now... And RIGHT NOW I am not trading, since picture, more and more due to this corona... is blurry...

Hi all, I have been trading for about 2yrs now but my focus have been in automating the trading platform. I have developed a unique trading strategy which I would like to share with you. I do not know how to make it into an EA as yet but I am sharing the user info here. please log in and let me know any areas of improvement if any.

Thanks

The Broker is Pepperstone and the Password is AutoBot