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I trade my own account for a living. Tell your story

  • #381
  • Dec 10, 2013 4:35pm Dec 10, 2013 4:35pm
Quoting tradista
{quote} I used to be harsh and critical of others until I found out that the world is not responsible for making my life better, nor am I towards the world.
Well, you know, if you say so that means you didn't get anything good from the outside of yourself - I'm sorry but it doesn't make much sense...
Saying you ain't gonna make this world a little better place doesn't sound good either...
The single most important factor is having control of your own life.
  • #382
  • Dec 10, 2013 4:42pm Dec 10, 2013 4:42pm
Quoting tradista
{quote} I used to be harsh and critical of others until I found out that the world is not responsible for making my life better, nor am I towards the world. I think the only wrong each one of us should be pointing is the one we find in ourselves and sure enough, try to fix it. Learning to trade the market made me humble, it was a great life lesson... just like in tough sports, humility and respect are traits of the best. Nobody owns the truth. Maybe we should make the effort and try to find what others are trying to express.
Wherever you go, there you are.
  • #383
  • Dec 10, 2013 4:48pm Dec 10, 2013 4:48pm
Quoting milam
{quote}
Maybe I'm not that good at English but I didn't quite get your point of view on this matter
The single most important factor is having control of your own life.
  • #384
  • Edited 5:17pm Dec 10, 2013 4:57pm | Edited 5:17pm
Quoting Mikkk01
{quote} Well, you know, if you say so that means you didn't get anything good from the outside of yourself - I'm sorry but it doesn't make much sense... Saying you ain't gonna make this world a little better place doesn't sound good either...
What makes you think that? Many great outside things have happened to me many times but, just like many people, I have struggled with things that had I not blamed or felt resentful could have been resolved easier and with much less stress and anguish. What I’m talking about is taking responsibility of your own problems and leaving other people alone when things get tough on your side.

I’m also not saying that I do not WANT to bring good things to the world, I am just saying that its not my *responsibility*. As long as there is harmony and respect, we are all here to do our own thing whatever that is and, countrary to what many try to make us do or feel., not feel obliged unto others,
  • #385
  • Dec 10, 2013 5:06pm Dec 10, 2013 5:06pm
Quoting Mikkk01
{quote} Maybe I'm not that good at English but I didn't quite get your point of view on this matter
My point? Sorry I missed that…..I am not sure what is going around here and to be honest I am not that interested, especially into dick slinging.
But I am very interested in posts that are inspiring and that is why I complemented with that post...

I also would like to read post related to the thread which is: I trade my own account for a living. Tell your story.

Also If one does not trade for a living he/she should not be ashamed of it, things are the way they are, and excepting reality it is one step forward, humility is a great attribute in trading, lets use it..
Wherever you go, there you are.
  • #386
  • Dec 10, 2013 5:21pm Dec 10, 2013 5:21pm
Quoting milam
{quote} that is why I complemented with that post...
Thanks.

Quoting milam
{quote} If one does not trade for a living he/she should not be ashamed of it
Everybody is welcome to share their knowledge or point of view in this thread as long as it relates to bringing useful insights of their own journey towards being consistently profitable trading their account.
  • #387
  • Dec 10, 2013 5:26pm Dec 10, 2013 5:26pm
I also think people think to big, and they bought the idea that they going to rich very soon…..BS….this is a job…..more capital, more money…..
If I have to give and advice…just go for 2 to 3% a month……and take it from there.
10% a month, is it possible? Sure, but that is another story….first step first.
Wherever you go, there you are.
  • #388
  • Dec 10, 2013 5:26pm Dec 10, 2013 5:26pm
Quoting tradista
{quote} What makes you think that? Many great outside things have happened to me many times but, just like many people, I have struggled with things that had I not blamed or felt resentful could have been resolved easier and with much less stress and anguish. What I’m talking about is taking responsibility of your own problems and leaving other people alone when things get tough on your side. I’m also not saying that I do not WANT to bring good things to the world, I am just saying that its not my *responsibility*. As long as there is harmony and...
Sorry for misunderstanding. Got your point!
But once again, it's more about psychology than 'responsibility' thing and 'outside world' ...
The single most important factor is having control of your own life.
  • #389
  • Dec 10, 2013 5:28pm Dec 10, 2013 5:28pm
Quoting Mikkk01
{quote} Once again it's more about psychology than 'responsibility' thing and 'outside world' ...
Yeah we can put it that way, of course.
  • #390
  • Dec 10, 2013 5:32pm Dec 10, 2013 5:32pm
Quoting tradista
{quote} Yeah we can put it that way, of course.
Glad to see we finally came to mutual understanding!
The single most important factor is having control of your own life.
  • #391
  • Dec 10, 2013 5:56pm Dec 10, 2013 5:56pm
Quoting Mikkk01
{quote} Glad to see we finally came to mutual understanding!
  • #392
  • Dec 10, 2013 5:58pm Dec 10, 2013 5:58pm
Quoting milam
. If I have to give and advice…just go for 2 to 3% a month……and take it from there.
Very good point.
  • #393
  • Dec 10, 2013 7:14pm Dec 10, 2013 7:14pm
Quoting Mikkk01
{quote} I have no idea what Maggie advised you [don't see his posts], though, wouldn't rely on him about 'push the button' thing. As, you know, he recently pushed one and got his ass kicked for that [polite version: was suspended]. Well, I ignore him now - I wouldn't rely on him about anything anyway... And, tradista, I wonder what do you think about those unfounded statements that are, let alone wrong, simply based on nothing? Or you're for that 'opinion' thing - 'say whatever you want no matter evidence's saying otherwise'?
*Magix
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #394
  • Dec 10, 2013 8:22pm Dec 10, 2013 8:22pm
I laugh when people say it is impossible to make money of forex or start small, this is exactly what an acquaintance who was a bank trader for one of the big banks in Canada told me and laughed at me for my ideas. I still went ahead and started small.


At first I only broke even for a long time, but now it's very easy and consistent, day after day, however I find that the key is not really in the system, but rather psychology itself; especially at smaller time frames, technicals and systems play a small role and my trades tend to be more of a conservative surgical leveraged strike, i worry about them always but they always execute TP almost immediately or i just quit if too much time has passed at a small profit (3 hrs a day of tension is a small price to pay). To me I'm not in the business of predicting movements, riding trends or directions but simply seizing psychological sure fire opportunities (win rate is upward of 98-99%). The odd time i face an actual loss I get set back maybe a day or 2 but the important part is, tmr's another day weather I win or loose

I haven't lost an account and in my mind, efficiency and mass number of trades is better than redundancy so I don't really care about the number pips per trade either. I only think in terms of percentages and probabilities. So to me longer term technicals are hopes and wishes and the real risk is market exposure/opportunity cost.
  • #395
  • Dec 10, 2013 9:29pm Dec 10, 2013 9:29pm
Quoting Andrew_S
I have learnt many things in my life, musical instruments, trades, other skills, now trading.... My rule before trading was realised in music that it takes around 2 years to learn a good skill, then after 5 years you can consider yourself mastering that as long as you really are dedicated by spending at least 1-2 hours per day, every day. I have now been trading since mid 2007. From 2009 I could feel my 2 year learning curve was asking shape. After that 2 year mark I felt "fluent" then virtually every week my skill level got honed and virtually...
Did you also learn Kama Sutra?
The Thief of Wall Street
  • #396
  • Dec 11, 2013 3:09am Dec 11, 2013 3:09am
Quoting Magix
Did you Spamming Bitches just take over and destroy another thread? If you don't qualify to repsond by the thread title, why are you polluting this house?
BTW liked the rompant entry
  • #397
  • Dec 11, 2013 9:06am Dec 11, 2013 9:06am
Quoting tradista
{quote} BTW liked the rompant entry
Let's just say, being subtle ain't really my thang!

Keep on, Keeping on, Brother!

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #398
  • Edited 5:39am Dec 13, 2013 5:27am | Edited 5:39am
About "it getting boring".

One thing I find is that as you get better at executing and trusting your plan the emotional rollercoaster disappears and you start to really not care anymore about the outcome of each trade. As we all know, this has to do with being comfortable on the risk taken per trade. Having said that, I find that one must also enjoy this game, at least to become "big" at it.

Many say that it tends to even become a boring daily task, and its true to a certain point, the freedom that trading brings allows you to do other interesting things with your time, but I do think that you can keep the trading "game" interesting to yourself if you slowly keep pushing the stakes higher and higher, getting outside your comfort level just a little bit and, as time goes by, work on your psychology to learn to handle bigger position sizes.

I remember the excitement, as a newbie, of my first 1 lot live trade... I couldn't believe my eyes on the growth potential of this thing...
After having also found out the loosing potential the hard way, I went back to minilots and started learning the right way.

For the sake of sharing on this argument, I'd say that my comfort zone lies at the 0.50 lot per trade, risking 1% of my trading capital.

Hopefully, it'll grow to the hundreds.
  • #399
  • Dec 13, 2013 1:35pm Dec 13, 2013 1:35pm
Quoting tradista
About "it getting boring". One thing I find is that as you get better at executing and trusting your plan the emotional rollercoaster disappears and you start to really not care anymore about the outcome of each trade. As we all know, this has to do with being comfortable on the risk taken per trade. Having said that, I find that one must also enjoy this game, at least to become "big" at it. Many say that it tends to even become a boring daily task, and its true to a certain point, the freedom that trading brings allows you to do other interesting...

My issue is without the emotional part I get bored and then I stop trading, as seen by zero trades this week and barely 30mins of screen time

$0.50 per pip approx 3% seems to be my risk level, after that I don't want to lose it and SL gets moved and becomes 20%.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #400
  • Dec 13, 2013 6:35pm Dec 13, 2013 6:35pm
Quoting tradista
About "it getting boring". One thing I find is that as you get better at executing and trusting your plan the emotional rollercoaster disappears and you start to really not care anymore about the outcome of each trade. As we all know, this has to do with being comfortable on the risk taken per trade. Having said that, I find that one must also enjoy this game, at least to become "big" at it. Many say that it tends to even become a boring daily task, and its true to a certain point, the freedom that trading brings allows you to do other interesting...
Yes it is amazing how performance/results improve when you are comfortable with your potential loss. Good entry, tight stop and let it run. So much easier when the risk is irrelevant. This, OMO is where most people fail. Professional traders don't chase profits, they manage risk. How long it took me to realise this and trade it. It is so true (sadly) that this business only becomes profitable when it becomes boring, when one becomes emotionally detached from it but this is only possible with minimal risk. The main point is that it IS possible to make good money this way but almost no one grasps this. Almost everyone wants to get rich quick, but you don't need to. Amazing results can be achieved, even starting with a small account. If your heart is beating too fast you are doing it wrong. The three most important elements? MM,MM,MM. Safe trading all.
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