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How long to be profitable?

  • #101
  • Jan 3, 2010 2:15pm Jan 3, 2010 2:15pm
There's always the mystical "Beginners Luck" thing...

I'm sure someone can Black Swan starting out and be successful for years and years... LOL
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #102
  • Jan 3, 2010 2:34pm Jan 3, 2010 2:34pm
Quoting LasVahGoose
There's always the mystical "Beginners Luck" thing...

I'm sure someone can Black Swan starting out and be successful for years and years... LOL

If you can KISS ( Keep it simple stupid ) from the get go, trade with the trend and just jump on the current direction without much fear you can make money.

Then you start to learn bad stuff, start trying to predict and 2nd guess it then before you know it the damage is done
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #103
  • Edited 10:49pm Jan 3, 2010 10:38pm | Edited 10:49pm
Started trading live in Nov. 08...just now at looking at being a consistent trader. I turned a profit asap. but not consistent at all. so almost 1.5 yrs... the minute i gave up candle charts is the minute i saw the light for my own trade style....

I do love forums because it gave me the concepts and not the actual methods to trade. i use all the most very basic trading rules and took them and built those rules into the way i look at trades and it's a win-win situation for me. what i don't like about forums in general are the people who seem to think they more than they do and such. most of those people never make it at all. i do like constructive trade discussions so i stick to mostly the programming and trade systems sections of forums. again, i found i was not looking for someone else's system, i really found out that i was looking for a concept to build on. i saw a picture of a chart I would be like, "man, I think i can make it my own by doing this or doing that...etc, etc" that has what has helped me the most on any of these popular forums. so i am always thankful for that. that's all from me for a while. back to trading!
  • #104
  • Jan 4, 2010 2:46am Jan 4, 2010 2:46am
half a decade for me... although could have been 2 to 3 years if I were less stubborn.

C'est la vie
  • #105
  • Jan 5, 2010 5:25pm Jan 5, 2010 5:25pm
Quoting supremeChaos
i dont understand your question.
i think u meant to say "Why couldn't I be profitable straight off the bat?"

the answer is:
Yes you can, IF u can. in other words, it's ALL up to YOU.
but dont expect it to be smooth sailing from then on....

I WAS profitable straight off the bat. It was not all my own work but it is still nice to have a winner straight up. And I will get better as I learn more and trade more.
  • #106
  • Jan 6, 2010 9:35pm Jan 6, 2010 9:35pm
Quoting capitalx
I WAS profitable straight off the bat. It was not all my own work but it is still nice to have a winner straight up. And I will get better as I learn more and trade more.
One from one? Congratulations. Thats 100% winners.
Don't let it go to your head. A 100% score rate is not the normal traders rate. Good luck in your next 1000 trades
  • #107
  • Jan 6, 2010 9:56pm Jan 6, 2010 9:56pm
if you go with moderate speed of learning phase it shud take 3 years approximately.
  • #108
  • Jan 7, 2010 7:36pm Jan 7, 2010 7:36pm
Been profitable for the last 9 months now. I had a big A HA moment 10 months ago when I decided I needed some external and impartial help. I wasted 12 months before that, fookin around trying to get it all sorted in my head.
Went fulltime trading in November 2009.
  • #109
  • Jan 7, 2010 8:36pm Jan 7, 2010 8:36pm
see my one week trade
i m in India
regards guru
my email : gurubillioner at yahoo.com
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  • #110
  • Jan 7, 2010 8:44pm Jan 7, 2010 8:44pm
I think it just depends on how much time was invested in learning.
"The market doesn't beat them, they beat themselves" - J. Livermore
  • #111
  • Jan 7, 2010 11:40pm Jan 7, 2010 11:40pm
Quoting guru2006
see my one week trade
i m in India
regards guru
my email : gurubillioner at yahoo.com
Great statement =) What's your strategy like ?
  • #112
  • Jan 12, 2010 6:02pm Jan 12, 2010 6:02pm
Quoting fxtrader29
I must be one of the lucky ones here. I went into profit straight away....
I have not visited here for a long time, but it is certainly possible to go into profit straight away and stay in profit.
  • #113
  • Jan 12, 2010 7:13pm Jan 12, 2010 7:13pm
I observe that posters labelled themselves as Jacko member present their trading success quite regularly in this thread. Please remind that this thread has no relationship with their group. Readers should make their own judgement on what appear to be reliable to themselves.

cheers,

kk007
  • #114
  • Jan 12, 2010 7:50pm Jan 12, 2010 7:50pm
Quoting fxtrader29
I have not visited here for a long time, but it is certainly possible to go into profit straight away and stay in profit.
You can take your first trade and be profitable. Will you remain profitable after your second or third trade? How will your account look like after twenty trades... you don't plan on holding on to your first one forever do you? That would be the real question.
  • #115
  • Edited Jan 19, 2010 6:28am Jan 18, 2010 2:09pm | Edited Jan 19, 2010 6:28am
Here is my story.

I spent 1,5 years , about 8 h per day + weekends.
Until now, I read over 20 trading books, some of them 2-3 times.
I manage to blow 3 times my live account, hopefully those losses didn't change my life style, but I did lost 3-4k (euros)

Add to this that I was able to work over time (which I used to do before) but I was busy with trading....you get the picture.

And I am still not profitable. I feel that I am close, but...the numbers disagree
  • #116
  • Jan 18, 2010 6:23pm Jan 18, 2010 6:23pm
Quoting zoreli
Here is my story.

I spent 1,5 years , about 8 h per day + weekends.
Until now, I read over 20 trading books, some of them 2-3 times.
I manage to blow 3 times my live account, hopefully those losses didn't change my life style, but I did lost 3-4k (euros)

Add to this that I was able to work over time (which I used to to before) but I was busy with trading....you get the picture.

And I am still not profitable. I feel that I am close, but...the numbers disagree
So do you think you have wasted your time? What would you have done different?
  • #117
  • Jan 18, 2010 6:46pm Jan 18, 2010 6:46pm
Quoting zoreli
Here is my story.

I spent 1,5 years , about 8 h per day + weekends.
Until now, I read over 20 trading books, some of them 2-3 times.
I manage to blow 3 times my live account, hopefully those losses didn't change my life style, but I did lost 3-4k (euros)

Add to this that I was able to work over time (which I used to to before) but I was busy with trading....you get the picture.

And I am still not profitable. I feel that I am close, but...the numbers disagree
Hi Zoreli,
I think the main reason most traders fail is due to money Mangement. You see it is not how many trades you win but how you control what you lose. I think learning the proper way to trade is just as important, I do not mean finding a system that tells you when to enter and exit, I mean really learning PA. And then a good money management Model and your good to go.

--NM
  • #118
  • Jan 19, 2010 2:01am Jan 19, 2010 2:01am
Quoting forexmick
So do you think you have wasted your time? What would you have done different?
Hi forexmick

No I don't think that I wasted my time. As in any other profession, you need to educate, and you need experience. I am not complaining, just saying my story.

Some people learn faster than others, that is it.

Currently I am still trading live, but with smaller amount of money on my account. I am defnining my problems, and trying to solve them, one by one. One of my biggest problem was over trading, and I move to daily chart now, and I manage to over come this problem.

Now, I have big problem with timing the entry in the trade, and I am trying to solve that problem at the moment. As soon as I enter the trade, the trade goes against me. After I am watching the trade to go against me and start to doubt my decision.

I did try to pinpoint my trade on smaller time frame, without success until now however.

Still loosing money but I am not giving up.
  • #119
  • Jan 19, 2010 2:07am Jan 19, 2010 2:07am
Quoting NightMoves
Hi Zoreli,
I think the main reason most traders fail is due to money Mangement. You see it is not how many trades you win but how you control what you lose. I think learning the proper way to trade is just as important, I do not mean finding a system that tells you when to enter and exit, I mean really learning PA. And then a good money management Model and your good to go.

--NM
Hi NightMoves

I agree with you 100%. I am not sure that one can be profitable trader if he enter in the trades with flip coin system, but he will lose less with proper money management.

One of my biggest problems also is to keep my winner trades active and to not cut them prematurely. I think that this is what separate mans from the boys in this occupation.

I am working on this problem too, without success for the moment however.

Regards, Zoreli
  • #120
  • Jan 19, 2010 5:52am Jan 19, 2010 5:52am
Been at it about 3 years now, albeit mostly part-time, and I'm fairly certain that I finally have it nailed down, although results are not quite as consistent as I'd like. The next 6-12 months will be crucial for me.
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