How many years did you trade before 'U'

[TraderRavi]

as per poll 70% traders turn successful before three years in trading, but seniors say u need generally 5 to 7 years , who is lying then

 

[Tlahuicole]

Already 3 years just now became small profit trader but day trading only for 12 months. Before that learning and swing trading.

I guess then as per seniors statement it will take another as minimum 2 years to become full time trader :annoyed:

 

[vssoma]

Already 3 years just now became small profit trader but day trading only for 12 months. Before that learning and swing trading.

I guess then as per seniors statement it will take another as minimum 2 years to become full time trader :annoyed:

:thumb::clap::thumb::clap::thumb:

 

[oilman5]

i am a more than 10yr learner. Later only after 1 yr , through good guidance & shear will power i become profitable in 2002 onwords. Luckily after that i still spend a good amount of time , to learn from book, reality and practiced in market.
still i have not learnt option nor commodity/forex.Only little future to short & stock i know. My strength is in trade psychology -because of longevity of survival in market. I dont know -how many times i am humilated by market on individual trade, only again i stand up again.

 

[vinayhegde]

hi guys,

i have been trading almost a year now.. i was following calls.. as you know it wont work for a long time.. can anybody suggest me, is taking a training on tech analysis is a better option??

 

[Tamil trader]

My total experience in the market is 5 years.

First two year was fully on the learning process on fundamentals, technicals and psychology.

In the first two year, I have lost more than 7 lakh rupees for learning process, in the next three years, i have made more than 30 Lakh profit in the crude market

 

[oilman5]

I'm a FX trader, do not know how my experience will help this predominantly Indian traders, But sill i try to be as Educative as possible.
As all FX traders will know, Tokyo market opens at 5 am (IST). For almost 3 months, I used to wake up, like a fool, at 4 30 am, not to miss a trade, not to lose a profit making chance. Once I sit in front of Comp at 4 45. am, I never used to blink my eye, worried that I might lose something. At the end, I realized that, except Imp NEWS either from Sydney or Tokyo, market rarely moves before London open. Only thing happened in this period was, I was sexually deprived and on the verge of being mentally retarded. Now, in all my training workshops, that I conduct, I always tell my students just to trade 2 hours of UK market and 3 hours of US market. Few things always come with experience.
I always thought there are ONLY 16 1H candles (when I'm awake), but 64 15M candles and almost 200 5M candles and by law of averages, these 250+ candles should give me better profit. Was worried even to go to wash room, forget about going out for parties. At the end of almost 5 months, common sense prevailed and promoted myself to higher TF's.
I subscribed to almost all paid international NEWS channels, got all economy oriented NEWS papers, as somebody had told me that FA is The Thing about Trading. I was spending so much time in collecting Info, that I rarely had time to Trade itself !!!!!.
I used to take trades on Impulse and then dreaming, wishing and Praying that it will get me profit. When trades were in profit, became greedy and rather than closing trades at higher profit, was forced to close at BE. Used to close loss making tares ONLY when the loss was equal to the margin on that trade itself. This is when I realized a Phenomenon called Money Management and Emotional Discipline. Now, I teach all my students, "If you have Water Tight MM and Nirvana kind of ED, you can spin a coin in the morning, if its Head, go long, if its Tail, go short" Jokes apart ... It took me Good One Year to know the Importance of MM and ED.
Then like every newbie, I started searching for all that Invisible Holy Grail, a EA that makes wonders for me, even when I'm asleep. Spent anywhere between 149$ to 749$ for 9 different EA's that promised earth, Sky and Warren Buffet Empire ....
It took me good TWO YEARS to realize ... where all I was wrong ... What all Is should not have done ... And this TWO years had cost me Whooping 16 L of Rupees, 5 Completely blown up credit cards, Angry like hell wife, worried parents ... and what not ...
I put a full stop to Live accounts ... went back to basics ... Opened few different demo accounts ... started practicing different strategies on different accounts ... And then I started making consistent profit ... Gave it next SIX months to see the viability ... to check the consistency of my strategies .. Then opened a Live account all over. My 1st live account, without any experience was 10,000$. Now with all experience, albeit bad one's, I opened 3000$. Only after i made good profits, consistently for 6 more months, I started topping it up ....
I'm so very sorry, if my post looks like a History answer sheet ... But The Question itself demanded it ...

,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
No sir, your answer is right one.The way u have seen, thats is ACTUAL.ALL of us have to go through this path.
Initial drawdown.
understanding what MAY not work.
understanding what shall work for me.
Again seraching holy grail to improve.
Realize its u.
Now system/syncronization develops slowly. Market is supposed to give u money NOW.
................................
my only suggestion is - at incubation period one should avoid leverage

 

[Cubt]

Crude is Very FLUID. It runs one way predominantly, without or with very small jerks / retracements ...
If you get hold of crude and its behaviors, You do not need to trade any other script/s at all.
Try this strategy on CO.
Once you get a confirmation, on your strategy, in a smaller time frame (say 15M) to go Long, go Long in Present Contract. As soon as you get the same confirmation in higher TF (say 30M), Go Long in next month contract. Now, both your contracts are running in profit.
Now, after some time, if, you get confirmation in smaller TF (say 15M), to go Short, Short present Contract. Now, you are actually hedging your risk and allowing profit to grow, as lower TF trend can be a small retracement (You have Sell in Present Month and Long in next month Contract). But on the other hand, if you get confirmation in higher TF (30M) as well to go Short, Short next month contract also. Now, Again both your contracts are in profit all over.
Try this strategy for few months. You will be surprised with the success and the profit %, it gives ...
Feel free to ask any doubt/s
Let us make Pips ... Let us Retain pips ...

So it basically like, trading in 2 lots? One in shorter time frame in current contract other one in higher time frame in next month contract?? Am curious to know y is it specific to crude oil? ? Y not stock indices?

 

[vssoma]

Trading and the importance of a plan

1. Loss of opportunity is preferable to loss of capital.

There was a time when I felt it was my duty to be personally involved in every wrinkle of the S&P. I've traded this market since it's inception in 82. It took quite a while for me to realise that picking safe, readable, and high probability winning trades was the way to go.

2. Use Logical Profit Objectives for all positions.

The concept of using and executing LPOs is one of the most important I know of. It keeps your percentage of winning trades high and gets you back to the computer the next day. Everyone enjoys a pay day. With the correct concepts this is something you can do.

3. Place your Logical Profit Objectives in the market ahead of time.

Markets are squirrelly animals. If you know how to calculate your profit objectives, get them in the market ahead of market action. If you wait for the alert to go off, hoping to capture more, it's likely the market will move away from your exit before you have time to execute your order.

4. Enter markets on retracements.

Don't buy new highs or sell new lows. Wait for the market to come to you. Precalculate your entries and be patient. If you miss the move another bus will come by shortly.

5. Above all, follow your trading plan.

Having a clearly defined trading plan is the single most important aspect of profitable speculation. Never trade without one and once you have it, following it is more important than any single profit or loss.

6. Trade quietly.

With the exception of a mentor, tell no one about your positions, profits, or losses. Especially those close to you, like your wife, husband, or friends. This self-gratification process or sharing process puts you under psychological pressure to win on every trade and can be a primary reason for failure to follow your plan.

7. Don't carry a sizeable position while traveling.

It will catch you!! The laptop won't work. The hotel internet connection will break. The cell phone battery will run out. The plane won't land! I know you'll try it anyway. It's good for the markets, we need to spread the money around a bit.

8. 'You are only one trade away from humility.'

For over 15 years this tattered hand-written sign, scrawled with bold black strokes with a magic marker, has hung over my trading table. A swelled head does not belong on a trader's shoulders.

9. Add to your knowledge before attempting to add to your wallet.

This seems obvious but somehow many newbie traders think they can become pros with little more than a computer and hope. In this business hope is a four letter word. I hear the following a dozen times a month. "I only wish I came across you before I blew 50-500 grand." I was here. Others like me were here. They thought it was easy and needed to find some humility. Now they're ready to progress.

10. Develop your sense of humour.

You'll definitely need it.

11. Help other traders whenever you can.

This is more practical than philosophical: giving keeps the ego in line and when you need help, and you will, you'll find it!

Source: Internet

 

[JPK35]

It also took me at least two years of trading and I still keep adjusting and trying to minimize loses, but doing well with the profit I make.