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  • #168,361
  • Dec 3, 2009 9:52pm Dec 3, 2009 9:52pm
Quoting Driver55
ahahah... yes... i'm a full full fulltime trader
That sounds great! that has always been my dream!

I am currently planning to leave my good job to start Forex hard-core level (full time!).. main problem? If things should go wrong would be very hard to find such a good job here in Barcelona and I should probably change city and say bye bye to the surf board. My girlfriend is giving me rock bottom of trust on this (=NULL) but yet you know, we still don't have children so I say what the heck, if I should risk something in my life well this is the time!

Sorry to bring this topic in this forum... but I think about this 24/7 and you are the only full time trader I met so far!

Can I ask you for a word of wisdom on this? that would be highly appreciated!!
  • #168,362
  • Dec 3, 2009 9:53pm Dec 3, 2009 9:53pm
Quoting gatorinla
http://www.youtube.com/watch?v=ikxcuDRiAn4

i smell fresh paint.

Inserted Video



enough said...
  • #168,363
  • Dec 3, 2009 9:54pm Dec 3, 2009 9:54pm
Quoting Evilgoat
that's funny I was just in there reading that like 30 mins ago
That curse struck me instead

ps. This is how coincidences occur.
The Thief of Wall Street
  • #168,364
  • Dec 3, 2009 10:00pm Dec 3, 2009 10:00pm
Quoting Martingale
That sounds great! that has always been my dream!

I am currently planning to leave my good job to start Forex hard-core level (full time!).. main problem? If things should go wrong would be very hard to find such a good job here in Barcelona and I should probably change city and say bye bye to the surf board. My girlfriend is giving me rock bottom of trust on this (=NULL) but yet you know, we still don't have children so I say what the heck, if I should risk something in my life well this is the time!

Sorry to bring this topic in this...
NO... I would not do.
Every great project starts from the bottom.
Try trading operation that are compatible with your working hours.
Only when this has been successful, can you rethink this thing.
Don`t underestimate the psychological pressure that you would have if the market becomes the only source of your income.
The best thing that can happen to you is to find out where you're wrong.
  • #168,365
  • Dec 3, 2009 10:03pm Dec 3, 2009 10:03pm
Quoting Driver55
NO... I would not do.
Every great project starts from the bottom.
Try trading operation that are compatible with your working hours.
Only when this has been successful, can you rethink this thing.
Don`t underestimate the psychological pressure that you would have if the market becomes the only source of your income.
Thanks, great advice!
  • #168,366
  • Dec 3, 2009 10:09pm Dec 3, 2009 10:09pm
Quoting Driver55
NO... I would not do.
Every great project starts from the bottom.
Try trading operation that are compatible with your working hours.
Only when this has been successful, can you rethink this thing.
Don`t underestimate the psychological pressure that you would have if the market becomes the only source of your income.
Again, more wise words from the Driver.


As the saying goes from the more experienced in this business. "The market will be there tomorrow so why rush."

A51
  • #168,367
  • Dec 3, 2009 10:14pm Dec 3, 2009 10:14pm
Quoting Martingale
That sounds great! that has always been my dream!

I am currently planning to leave my good job to start Forex hard-core level (full time!).. main problem? If things should go wrong would be very hard to find such a good job here in Barcelona and I should probably change city and say bye bye to the surf board. My girlfriend is giving me rock bottom of trust on this (=NULL) but yet you know, we still don't have children so I say what the heck, if I should risk something in my life well this is the time!

Sorry to bring this topic in this...
Driver is right.

I have been doing it fulltime for last many months, pressure is so bad that once again looked for a job. Part time gave better results to me than fulltime. The only difference was that of amount invested as part-timer and full-timer.

You may not believe I let go more than 50% of the opportunities just because of this pressure. Today is my last day as full time trader. Not staying even for tomorrow's NFP.
The Thief of Wall Street
  • #168,368
  • Dec 3, 2009 10:20pm Dec 3, 2009 10:20pm
Quoting Driver55
NO... I would not do.
Every great project starts from the bottom.
Try trading operation that are compatible with your working hours.
Only when this has been successful, can you rethink this thing.
Don`t underestimate the psychological pressure that you would have if the market becomes the only source of your income.
I agree. I was a full time trader in the last six months, quited my job just to do trading. But the psychological pressure was so high that I couldnt handle it. Now, Im looking for a job and do trading just part timely. I feel much better now
  • #168,369
  • Dec 3, 2009 10:28pm Dec 3, 2009 10:28pm
Quoting Chicky
Driver is right.

I have been doing it fulltime for last many months, pressure is so bad that once again looked for a job. Part time gave better results to me than fulltime. The only difference was that of amount invested as part-timer and full-timer.

You may not believe I let go more than 50% of the opportunities just because of this pressure. Today is my last day as full time trader. Not staying even for tomorrow's NFP.
Thanks Chicky! great charts as well
  • #168,370
  • Dec 3, 2009 10:31pm Dec 3, 2009 10:31pm
Quoting onetouchopen
I agree. I was a full time trader in the last six months, quited my job just to do trading. But the psychological pressure was so high that I couldnt handle it. Now, Im looking for a job and do trading just part timely. I feel much better now
Thanks to you too! ok, got the message...
PIPS FOR FOOD is not like PIPS FOR FUN!

Thanks all for your sincere feedback on this.
Will keep on trading part time!
  • #168,371
  • Dec 3, 2009 10:36pm Dec 3, 2009 10:36pm
How much of ur total Equity do u guys put into a trade?
Just want to check if my money managment is too loose or too tight, or somewhere in between.
  • #168,372
  • Dec 3, 2009 10:37pm Dec 3, 2009 10:37pm
I was a full-time trader too back in 2004-2005; lasted about five months. It took me until Sep of this year to get up the desire to get back in the game. Now I use simple fundamental analysis, support and resistance areas, fibonacci and a gut feeling for the markets.

I found as FT'er I over analyzed and eventually became reckless...I was afraid to lose and traded on fear and greed. I mostly traded long and if only I had the nuts to hold through a downdraft, I learned I would have recovered my losses, but I always stopped out with big losses. I tended to gamble, getting in and out far too often...should have been swing trading, but when your'e FT you crave action - that's dangerous.

You need to have ultimate control over your emotions - basically - an I don't give a crap if I lose $500 today attitude - and you can do that if you have a FT job to fall back on...because it takes years to learn the markets, the tools, and the players, etc... Start with $500 or $1,000 as a part-timer. If you blow it in a month or two - no big deal - you're learning.

Then try another $1,000 and you're ready to go FT when you can turn that into $5,000 in one year or less...provided you've developed a good feel for the markets and have taken prolific notes along the way. my 2cents - hope it helps... Mark
  • #168,373
  • Dec 3, 2009 10:37pm Dec 3, 2009 10:37pm
Quoting Martingale
Thanks Chicky! great charts as well
Your welcome. Remember Less is More. Someone here very kindly helped me how to reduce screen hours without affecting operating capacity by switching to higher timeframes and focusing on bigger moves than smaller ones. I now have to check my trades only once or twice a day. You can do the same.
The Thief of Wall Street
  • #168,374
  • Dec 3, 2009 10:37pm Dec 3, 2009 10:37pm
Quoting alvelino
How much of ur total Equity do u guys put into a trade?
Just want to check if my money managment is too loose or too tight, or somewhere in between.
I start with 1%. I don't use StopLoss but Hedged positions
  • #168,375
  • Dec 3, 2009 10:37pm Dec 3, 2009 10:37pm
1 mini per 5k
  • #168,376
  • Dec 3, 2009 10:38pm Dec 3, 2009 10:38pm
Guys,

we have not affront this speech in its entirety.

I do this job mainly for me and also for some friends / customers.

There are precise rules to avoid disappointment, and it is right that each of you , make an examination of conscience, before you start.


You need to do a project, like when you start any work.

The points to be determined are essential 3:

1) the possible loss of initial capital made available for the trading, should in no way change your lifestyles.

2.) It serves determine the maximum amount of loss of capital.
Below this threshold, the project should be declared bankrupt.

3.) If paragraph 2 don't intervene , then gets a budget every 6 months.

Here, when these points are clear, only then is the case to begin.
The best thing that can happen to you is to find out where you're wrong.
  • #168,377
  • Dec 3, 2009 10:41pm Dec 3, 2009 10:41pm
Quoting Driver55
Guys,
1) the possible loss of initial capital made available for the trading, should in no way change your lifestyles.
This implies big amount of $$!!
Are you from Italy? I am Italian a well..
  • #168,378
  • Dec 3, 2009 10:42pm Dec 3, 2009 10:42pm
Quoting Martingale
This implies big amount of $$!!
Are you from Italy? I am Italian a well..

Bari
The best thing that can happen to you is to find out where you're wrong.
  • #168,379
  • Dec 3, 2009 10:42pm Dec 3, 2009 10:42pm
Quoting Scrmnegl
1 mini per 5k
that's a x2 leverage.. I am on these figures too..
  • #168,380
  • Dec 3, 2009 10:47pm Dec 3, 2009 10:47pm
Quoting TraderMark
You need to have ultimate control over your emotions - basically - an I don't give a crap if I lose $500 today attitude - and you can do that if you have a FT job to fall back on...because it takes years to learn the markets, the tools, and the players, etc... Start with $500 or $1,000 as a part-timer. If you blow it in a month or two - no big deal - you're learning.

Then try another $1,000 and you're ready to go FT when you can turn that into $5,000 in one year or less...provided you've developed a good feel for the markets and have taken prolific...
Thanks mate... been in the market for >5years so far.. kinda got the feeling.. but I found myself AGAIN and AGAIN slave of the SAME stupid mistakes..... I should just learn to respect my rules... accept the loss... let the gains run.
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