How long to be profitable? - Page 2
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Thread: How long to be profitable?

  1. #11
    There should be.

    I really don't know anybody who got consistent sooner than anticipated.

    Hope I'm wrong with this.

    It's always more.

  2. #12
    An additional point to mention.
    Do not expect anything else to happen in the market. Why?
    Because anything could happen.
    Traders need to be flexible with their expectation of what the market will or won't do, and also be stiff with their rules of engagement!
    That is the reason why a sensible risk control program is so essential.
    Anything could happen after you put in the market...
    Only your edge provide the light that should guide you, not analysis to paralysis.

  3. #13
    The way you approach your initial trading endeavour has a lot to do with how much time it will require you to be prosperous. I am in the 1-2 years camp for a trader to achieve success or move on. Some traders stick to it and then a few do not and many make it. Trading may be unending self-inflicted torture should you continue to overlook several compulsory steps;

    - Know cash management better than your indiors [concentrate on cash management and you'll be ahead of the crowd]

    - Have an established strategy that can display realistic back-testing results or others are utilizing profitably with verified broker statements [do not you dare start trading anything till you know it has some chance of success]

    - Work with intense diligence on your plogy to understand trading is a probabilities game - pound this notion into your head over and over again [if you never fully understand this fact you'll never have any credible opportunity at success]

    - Learn the difference between low and high probability trade entries - trade the high probability action and leave the rest for your tail chasers [trade the dull probabilities game and do not chase the thrilling action sport ]

    - The most prosperous traders are the dull ones that are enjoying the math in trading and they embrace this huge advantage - the Ferrari driving, GQ appearing, fire up their charts and bang out $10k per day just from experience traders are so rare it is a false hope for you [you may almost never attain that capability from an odds standpoint and thus don't let this be your goal. The predominance of top degree traders aren't flashy or trendy - they're orderly, always testing, calculated, and risk averse, logic driven, and decisive]

    If you are willing to approach trading in the way I described above you'll dramatically lower your time-line to achievement. The question today is, would you want profits or are you really looking for trendy?

  4. #14
    Quote Originally Posted by ;
    The question should be: Just how long can it require you to be profitable? And the answer to this question is relative. Are you individually ready to do the things that are necessary to become successful? Many people aren't. That success frees them from year to year. Trading is 90% mental. Consistency is 90% mental. If a trader isn't consistent in his mind, he will not be consistent in his trading. Do you see a means that is consistent to produce pips when you look at your chart? This is your edge if you do. The easier your...
    I do not know. but I will stick with my game plan.

  5. #15
    Very intriguing. Its a pity I didnt discover that thread before. Im supprise that it took 20 years to get many individuals to become profitable!!

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