Is it a happy life ahead? | Forex Factory

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Is it a happy life ahead?

  • #1
  • First Post: Jul 4, 2012 12:43am Jul 4, 2012 12:43am
Hi everyone, greetings from me - a brand new newbie.

I have been playing on my demo account for few months now, had opened my first live account for 2 weeks. I am looking forward to become a professional trader slowly (hope not painfully).

Can anybody shed some lights on the life of a professional trader for me?
Is it a happy life?
Sad life?
Chaotic life in which you are on the top of the world one day but only to become suicidal the next day?
  • #2
  • Jul 4, 2012 1:33am Jul 4, 2012 1:33am
Quoting pipfarming
Hi everyone, greetings from me - a brand new newbie.

I have been playing on my demo account for few months now, had opened my first live account for 2 weeks. I am looking forward to become a professional trader slowly (hope not painfully).

Can anybody shed some lights on the life of a professional trader for me?
Is it a happy life?
Sad life?
Chaotic life in which you are on the top of the world one day but only to become suicidal the next day?


if you plan to bet your farm on a single trade, this is obvious
  • #3
  • Jul 4, 2012 2:07am Jul 4, 2012 2:07am
All I can say is, just be willing to accept losses. Otherwise it should be a happy experience IMO
  • #4
  • Jul 4, 2012 2:07am Jul 4, 2012 2:07am
lol
  • #5
  • Jul 4, 2012 2:12am Jul 4, 2012 2:12am
Quoting pipfarming
Hi everyone, greetings from me - a brand new newbie.

I have been playing on my demo account for few months now, had opened my first live account for 2 weeks. I am looking forward to become a professional trader slowly (hope not painfully).

Can anybody shed some lights on the life of a professional trader for me?
Is it a happy life?
Sad life?
Chaotic life in which you are on the top of the world one day but only to become suicidal the next day?
best thing will be find an exp trader and learn from him.
  • #6
  • Jul 4, 2012 1:05pm Jul 4, 2012 1:05pm
I would say -
The more mechanical and structured your system - the less chaotic your life will be.
If, by backtesting or statistics, you can evaluate how many losses you're going to have, then these losses won't have an emotional impact on you.
  • #7
  • Jul 4, 2012 8:14pm Jul 4, 2012 8:14pm
Quoting pipfarming
Hi everyone, greetings from me - a brand new newbie.

I have been playing on my demo account for few months now, had opened my first live account for 2 weeks. I am looking forward to become a professional trader slowly (hope not painfully).

Can anybody shed some lights on the life of a professional trader for me?
Is it a happy life?
Sad life?
Chaotic life in which you are on the top of the world one day but only to become suicidal the next day?

A few months and couple weeks is nothing in the world of successful trading. Plan to probably 2+ years till you realized you have tried every system and robots then you will realize the only holy grail is between your ears.
Know when to hold em, Know when to fold em!
  • #8
  • Jul 4, 2012 9:09pm Jul 4, 2012 9:09pm
Quoting pipfarming
Hi everyone, greetings from me - a brand new newbie.

I have been playing on my demo account for few months now, had opened my first live account for 2 weeks. I am looking forward to become a professional trader slowly (hope not painfully).

Can anybody shed some lights on the life of a professional trader for me?
Is it a happy life?
Sad life?
Chaotic life in which you are on the top of the world one day but only to become suicidal the next day?
So you have finally made the transition to a live account, that is just great. As far as life of the professional trader is not easy and you may have to keep late hours -just sayin
  • #9
  • Jul 5, 2012 12:52am Jul 5, 2012 12:52am
Quoting Crownprince


if you plan to bet your farm on a single trade, this is obvious
Thank you for your advice, I am going to safe-guard my farm from evil mouse-clicking.
  • #10
  • Jul 5, 2012 12:54am Jul 5, 2012 12:54am
Quoting Terraforce1
All I can say is, just be willing to accept losses. Otherwise it should be a happy experience IMO
It's not easy for me to part from my pips.
  • #11
  • Jul 5, 2012 12:54am Jul 5, 2012 12:54am
Quoting duyk20
lol
Happy trading for you too.
  • #12
  • Jul 5, 2012 12:55am Jul 5, 2012 12:55am
Quoting Crownprince
best thing will be find an exp trader and learn from him.
I thought the books say "don't listen to any guru".
  • #13
  • Jul 5, 2012 12:57am Jul 5, 2012 12:57am
Quoting fxjuice
I would say -
The more mechanical and structured your system - the less chaotic your life will be.
If, by backtesting or statistics, you can evaluate how many losses you're going to have, then these losses won't have an emotional impact on you.
I am emotionally vulnerable.
  • #14
  • Jul 5, 2012 12:59am Jul 5, 2012 12:59am
Quoting goods
A few months and couple weeks is nothing in the world of successful trading. Plan to probably 2+ years till you realized you have tried every system and robots then you will realize the only holy grail is between your ears.
I have tried a few systems using Demo money.
I am using my naked eyes.
  • #15
  • Jul 5, 2012 1:01am Jul 5, 2012 1:01am
Quoting Forexnuts
So you have finally made the transition to a live account, that is just great. As far as life of the professional trader is not easy and you may have to keep late hours -just sayin
Yeah, it's pretty exciting, although I am only trading seasame seeds.
  • #16
  • Jul 5, 2012 1:42am Jul 5, 2012 1:42am
Quoting pipfarming
I thought the books say "don't listen to any guru".
Don't ever believe anyone in this business except yourself. It's your money to lose.

Those who said finding some guru, probably he's trying to sell his shite to you.
  • #17
  • Edited 2:52pm Jul 5, 2012 2:35pm | Edited 2:52pm
Quoting duyk20
Don't ever believe anyone in this business except yourself. It's your money to lose.

Those who said finding some guru, probably he's trying to sell his shite to you.
Your advice is very sensible.

If I am making money in this battle field month after month year after year, I won't tell my enemies how I beat them.

It's the same in any battle field.
Few years ago, I was looking for bargain in property market following a guru's book on finding properties that have certain capital and rental income ratio. I found one, took me 2 years and not a small amount on valuation reports and lawyer's reports. Then I realised, the guru only published his book when the property market formed a bubble where he could hardly find a bargain. He was bored and depressed, that's when he started to write a book.
  • #18
  • Jul 6, 2012 2:03am Jul 6, 2012 2:03am
Quoting pipfarming
Yeah, it's pretty exciting, although I am only trading seasame seeds.
Seasame seeds or not, its bound to be exciting. And on the property guru's book, guess that's why we have so many books on trading online..you never know..
  • #19
  • Jul 6, 2012 6:52am Jul 6, 2012 6:52am
Quoting pipfarming
Hi everyone, greetings from me - a brand new newbie.

I have been playing on my demo account for few months now, had opened my first live account for 2 weeks. I am looking forward to become a professional trader slowly (hope not painfully).

Can anybody shed some lights on the life of a professional trader for me?
Is it a happy life?
Sad life?
Chaotic life in which you are on the top of the world one day but only to become suicidal the next day?
Of course, it depends on your style of trading. If, like mine, your trades are designed to last more than a day, then there will be long periods of waiting for the right set up. If you are a scalper, or an intra day trader, then your work will be more intense. In any case, any spare time you have should be spent studying. Celebrate wins, accept losses.

I wish you all the best - work hard - get lucky.
Gone to a better place
  • #20
  • Jul 6, 2012 7:41am Jul 6, 2012 7:41am
Quoting pipfarming
Can anybody shed some lights on the life of a professional trader for me?
I'm no professional, but as someone who trades for a living, it becomes just like any other job. It just depends on whether or not you enjoy what you do.

Quote
Is it a happy life?

It's a happy life if you're making money. Money does buy happiness... maybe not directly, but it opens the door to endless possibilities for fun and happiness. Its also a big stress reliever, not having to worry about if you have enough money to pay for anything.

Quote
Sad life?

I'm not sure what you meant by sad. If you think being lonely is sad, then yes, trading can be sad. Self-employed individuals are deprived are usually deprived of co-workers and thus social life.

Quote
Chaotic life in which you are on the top of the world one day but only to become suicidal the next day?

As stated in above post, if you plan to bet your farm on a single trade, then yes, it can be very chaotic. There are several ways to avoid that IMO: one is never to risk the money you can't afford to lose; two is to always use a stop loss.

EG
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