How long did it take to become consistently profitable?

Your right.

Its just difficult when people In my real life dont understand what Im doing here, and suggest Im lazy/dreaming and would be better off picking up some more Overtime. That coupled with the failure rate and uncertainty of the markets and a methods long-term profitability being in question even If I do manage to convince myself I have something at some point.

Its a daunting thing that so much time could be wasted for no gain, after all, Its a sure thing that most on this forum wont make it. Why am I any different?(question to self)

None of this is writen In self pitty. Im just reflecting on things out loud, standing back and taking a reality check. My previous post was really talking about maturity, maby afew years later on we get more objective, Or maby I just need to take in more sugar while Im trading, Ive herd it helps you think better.

Hope your well.

That's a really tough question to answer. I'm 51 now and when I was in my 20's I would never even have considered doing this.

In your 20's you have more energy and time, yet less maturity and humility. Also, most people don't really know what they want when they're in their 20's, which is not a bad thing at all. It's important to have a wide variety of interests, how else can you know what you want until you've looked at many things?

Intellectually, trading is not very difficult, it just isn't. However, the proper application is extremely hard and anyone interested in it should know all the reasons why. I can tell you that the key for me was developing myself as a person. It almost sounds cliche but it's true (all cliches are based on a truth). I spend more time every day working on myself than I do in trading, yet my trading is better now than ever. I didn't believe it when I first read about it, as most don't. But there are many who try trading and don't succeed and it's not because they can't pass a test on support and resistance line drawing, or how to calculate a 2.75% position size on a $10,000 account. Plain and simple, they lose because they fuck up mentally.

Let me give you some advice on other people. I was 26 when I hitchhiked through Europe for the first time, from London down to the Greek Islands in back in one summer. It was an amazing time for me and I vowed to myself to spend the rest of my life seeing the world.

Everyone in my life, except my mother, told me to get serious and settle down, get a steady job, have a family and be average just like them. This includes two ex-wives. Some how I knew when I was still in my teens that you can't depend on others to map out your life for you and that what they pass off to you as advice that is supposedly in your best interest is the farthest thing from the truth.

As I've stated before, I've met plenty of people who have believed they knew better than me what I should or should not do with my life. As a rule, most are average people who live average lives. They are all still living average lives (which in itself is just fine because it's like street sweepers, if there isn't people who voluntarily do stuff like that, then I might end up being forced to do it, so I do appreciate average people and the role they play in the world).

Now it's 25 years later and I've spent the past 20 years travelling the world. I've been to just about every great and majestic place you've ever seen on tv or in a book. I've done so many things that most people think about their whole life and keep on saying, "I'll do that when I'm retired." I spend my summers (you gotta love teaching in universities...which I specifically chose to do because of the time off...you try going through grad school with that in mind...it's easy) in 3 or more countries. I've spent 13 months in the last 10 years hanging out in Thailand simply because I love the place.

I go home on occasion and I see everyone living their average lives and they don't really want to talk about what I do, where I've been, what I've seen and done to any degree. Mainly because it reminds them that a. they were wrong about me and b. that they're living terminally average, boring lives. So I don't go home much anymore. Meanwhile, I work with over 150 westerners who are just like me in that they chose to not be average and stay put because others told them that it's the best thing for them. So I've got plenty of company, including my third wife who loves our life. And what really burns all their asses is that my wife and I both teach here and our combined salary with all benefits is over 120k per year...and we work 8 months per year.

Sorry for the long reply, but the best advice I can give anyone in their 20's is to follow any dream you have. Understand why people give you the advice they do, it's mainly to serve their interests, not yours. My mother was the only person who truly wanted me to have what I wanted. She supported me 100% in everything I did, no matter what it was. I was lucky to have had her support and her love. After 18 years, I still miss her terribly. Surround yourself with others that are also following their dreams. Don't let anyone tell you what your limitations are or should be. Don't let anyone define you in any shape or form. It doesn't matter what you do with your life, as long as it's what you want to do.

It's your life, live it accordingly.

Hey, ive noticed that youve got some great things to say when you get the 'come on' Dopey.

Thanks alot for that, seriously.

Improved my mood.

Cheers

"have studied for 9 months" so, it is only demo. i think 9 months is not enough even though your demo consistently profit, but live account is much harder.

3.5 years and one marriage. Why? Lots of reasons some are as follows:
- absolute fascination with the intellectual challenge and competitive nature of FX trading
- I was consistently making 60% plus on shares from 2002 till 2005 but FX offered the possibility of even greater rewards
- now that I have put in the time and effort, I would find it difficult to do something else
- nothing surprises me in FX trading these days which makes me feel comfortable trading any market condition
- always something else to learn and that challenges me (and that is great)
- I still need to become obscenely rich from FX (and that challenges me even more).

One other thing, I have known several traders on a personal one-on-one level. Some of the stupidist as well as smartest of these have made huge profits from FX trading. I believe there is a lot of luck in trading FX. But I still tell my family and friends that it is NOT/NOT like gambling. Maybe one day I will know enough about it to prove this fact.

Love this game/sport/way of life. Just made another 30pips scalping UJ.

Good luck to you all.

Dopey,

This is one of the best posts I have read on this forum.

Although slightly different in chronology and cornerstones, great similarities in life and attitude toward it.

Kind regards,
daytrading

You should read his posts on Thailand... Made me want to pack up and go.

http://www.forexfactory.com/showthre...rs#post2677631

Leon,

You know that I'm as new or newer than you at this but IMO:

1) Don't quit at what is probably a critical juncture in your growth.

2) Don't talk about trading with non-traders. Totally pointless and counterproductive.

I wouldnt quit, just take a brake or try to spend less time thinking about Trading. Its 8.30 AM and I havent slept again and have work later on. I just cant seem to switch off.

Thanks Leon,

just read it and wholeheartedly agree - I did write a longer reply but I got smacked by the website when submitting my post the whole thing went into overload and lost my message. Cannot be asked to repeat, hahaha.

regards
daytrading

between 1.5-2 years, after hundreds/thousands of hours reading, studying, looking at charts, demo-trading, etc

Thanks. I think trading suits people who are used to making their own decisions.

No. Not everyone trades demo for a year or so. I traded demo just for 2 months in the beginning and I have traded live now for 7 months, small positions, however, but still live.

Dopey, great posts!

Sleep is very important for both decision making and ones health. If you scalp most of the time you will be affected by the "thinking about trading" because you will automatically feel like you are missing out on the potential trade and the need to be on the markets.
What has helped me is to use bigger time frames such 4H and get the bigger picture, you'll have fewer trades and signals but you will have more time to sleep and work as you only need to check the charts 2 or 3 times a day. This is what Mark Crisp describes as "stress free trading".

Some great posts in this thread, especially Dopey's. It really gives a refreshing perspective on life and taking control, something imperative if you will ever make it as an independent trader.

It sounds like Dopey wasn't in for 'The American dream' (even if he's not American), two cars in the driveway, 2.5 kids, a McMansion, and a 50 hour work week down at the office with two weeks vacation-- and I can't blame him, because it's a force-fed fraud and the single biggest reason I got into trading.

And that's why
is great advice. (Unless they're genuinely interested of course, in which case, who knows-- maybe you will be the person who introduces the next great trader into the business )

Great post, this is exactly my attitude. You only have one life (as far as we know), so why live an average one. I think people just go on being average because they are afraid change and are overly risk adverse.

Just like smittens this is also the single biggest reason i got into trading lol.

great story , traveling is the food for your soul , the only way to know that we are actually living ...

Guess which post is mine.

http://worldheritagesite.org/sites/brugge.html

wow, you surely a fascinating and inspiring person , Mr. Robert

That's a really great story, I got the chill when reading it. Been to Brugge myself (summer-festival) and really enjoyed it. I'm not even going to try writing more about it after reading your post lol. Btw, what the hell are you doing trading ? You, my man, should write books.