Can I make a living out of Trading only?

[sumosanammain]

forget the definitions and thoughts , are you doing it for real?

Yes doing it full time, but still not made a living out of it. A few years back, I was like you too. Thought that arrows are all thats required to make money.

The part that you mentioned as useless, the philosophical part, thats available in plenty, is what determines whether you make it here, or the markets makes you run out of money and patience.

If that part is useless for you, best of luck making money for someone else for the rest of your life. May God give you the strength to bear what working under someone entails

 

[trump]

Yes doing it full time, but still not made a living out of it. A few years back, I was like you too. Thought that arrows are all thats required to make money.

The part that you mentioned as useless, the philosophical part, thats available in plenty, is what determines whether you make it here, or the markets makes you run out of money and patience.

If that part is useless for you, best of luck making money for someone else for the rest of your life. May God give you the strength to bear what working under someone entails

ok, good , but you have other sources of fund to fall upon.That's what I wanted to know.I am not debating what is useful or useless , it hardly matters for me.Making money is just an by product.And I never thought that arrows is all it takes to make money.There are subtleties involved for sure.My point was that whether one can make it or not? its better to hear from those who have made it for real instead of hearing the rantings of those haven't made it, pardon me if I sound harsh.

 

[Sunny1]

Drawdowns and losses are regular part of trading, one has to stand that.as you say its a double edged sword, it can wipe out or fulfill the dreams, but its highly risky.Growing by compounding is an excellent way to forge ahead as you have pointed out.again in your opinion profiting isn't difficult if one knows how.That how is the edge IMO.by the way are you a full time trader?

Yes I am a full time loser...:lol: :rofl:

 

[trump]

Yes I am a full time loser...:lol: :rofl:

then you have your edge for sure.:rofl::rofl:even loosing consistently isn't easy.

 

[trump]

what are you joking.....you can make luxury living for your next 100 generation from trading.. but only if do it right. otherwise you will make those 100 generation poor.

there are very less trader who are immune from greed, fear hope and other emotional attitude.
and even less trader who have perfected the art of reading price volume.

for average trader it is best to stick to good technical system and grow by compounding.

dont quite job your as of now . you are yet to experience fall in trading

profiting is not much difficult if you stick to your basics all the time.

greed, fear, hope will come if one does not know what he is doing or not knowing the basics thoroughly , trading is simple not not easy.
I experience the fall as well as rise everyday, its not an new thing to me.

 

[trump]

Since we are in the same boat, here is what i am doing before pulling that trigger:

1) Make sure you have enough capital to protect your family in case your rades make you bankrupt. Always, keep your family first.

2) Treat it as a business and not as a gambling. Have a well thought out plan before each day. Stick to it.

3) Dont over-trade. If I have three stop-losses for the day, I am out, no matter what my "ego" says.

4) Make sure atleast you know and have applied some of the technical analysis or charting stuff on real trades. Paper trades dont work and should not be used as a reason to quit your job.

5) Read about some of the awesome stuff floating around on this forum.

As for me, my company is about to be shut down and I am not looking out for a job. I have a wife and kid to support, and still I will be taking this up as a profession because trading for me is not about making money, its a passion. If you are passionate about your job, money would follow.

And yes......Trading does make you rich, only if there is no Gordon Gekko in you

1. enough capital, hmm, world is not enough.
2.I am treating as my bread and butter .
3. I have my set ups
4.real for sure
5. kindly enlighten me about some awesome stuffs in the forum , although i hv read a few gems for sure.still i want to know more.

 

[Sunny1]

greed, fear, hope will come if one does not know what he is doing or not knowing the basics thoroughly , trading is simple not not easy.
I experience the fall as well as rise everyday, its not an new thing to me.

m talking about real big fall which sets trader in trembling mode...and requires months to recover :thumb: :thumb:

 

[trump]

m talking about real big fall which sets trader in trembling mode...and requires months to recover :thumb: :thumb:

why so? ru trading on hope only or what, where is your money management and stop loss etc? trembling mode means one is freezing without doing anything

 

[NTrader42]

Hello Trump

I am a full time trader by your definition i.e trading is the only profession and no inheritance expected from the in-laws

I trade options, index futures and commodities

When we take this up as a profession, it looks very easy to accomplish, somewhere down the line it seems more difficult than it actually is, nothing seems to work.

The one who overcomes this phase for them the same systems start working, don't know its just because of chance or maybe its because the experience teaches a few things we did not have before.

All the basics are out there, written and repeated millions of times. 3-4 years back I was quite sure what it takes, i was ready with all the popular phrases, but not sure anymore . . .

Maybe the most important thing is to show up, be there at your trading desk at 9.00 AM, ready with your pre-open work completed before the markets opens, no matter even if you were baby-sitting your commodities position the previous night till 11.30 pm.

Do it for few years and its given that you will surely make it.

Thanks

PS: Yes, and you should enjoy every bit of it, really really enjoy it all

 

[Sunny1]

why so? ru trading on hope only or what, where is your money management and stop loss etc? trembling mode means one is freezing without doing anything

Dont know but this phase comes in every traders life once....where by mistake/badluck/hope/etc/etc....puts you in this mode..

you will never know when your logic turns into mistake and mistake into hope and hope into fear....then you know how it feels...