Ten-thousand in Education and still not profitable! | Trading Reviews and Vendors

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Ten-thousand in Education and still not profitable!

  #298 (permalink)

Victoria, TX
Trading Experience: Master
Platform: NinjaTrader
Broker/Data: Mirus Futrues, Zen-Fire, IQFeed, Kinetick
Favorite Futures: 6E, CL, GC
rogerf's Avatar
Posts: 132 since Apr 2010

DionysusToast View Post
Whilst I agree with you on the "Trading is hard" part. I do not agree on "everything you need is on this forum", or any other forum to be honest.

It's not because there's no useful stuff on it, it's just that for every decent item on the forums, there's a few hundred items of complete nonsense.

I don't see how someone is realistically expected to see the good stuff from the bad until they already know how to trade, at which point it becomes rather moot.

It's been said that trading is the hardest "easy money" you'll ever make. Many of the reasons why have been discussed in this thread and I'm delighted to see some of you emerging from the fog.

I have a friend who's a stock trader. From '95 to '99 he made over $800,000. Never had a losing month. From 2000 to 2010 he lost about $600,000. He made about $50,000 in 2011 and so far this year he's down about $150,000. Is he a trader? By most standards, yes...just not by mine. He spends countless hours researching his trades, but not researching how to stop the financial hemorrhage. He keeps doing exactly what he did in the '90's expecting the same results.

Successful trading isn't about making a lot of money if you end up giving it all back like a Vegas bonehead at a slot machine. It's not just about meeting your goals. Winning is about ongoing "selective" knowledge yet most traders fill their heads with mountains of mush that actually create a huge barrier to the success they seek. Successful trading is about adaptability. Nothing works forever and many successful strategies have a short lifespan before needing corrective surgery (tweaking).

Traders who can't get traction in the market mud can't fix what's wrong because they don't know what's wrong. It's like a stranded motorist who looks under his hood to try to fix his flat tire. They look for the "love" in all the wrong places. To know where to look, you have to know how to trade, of course. That means an investment in time, effort and money...years in the school of hard knocks in order to gain that essential element called experience. Mentors can really help but most traders choose to go it alone.

The road is rough and the lessons are mean. Most traders succumb to the stress and frustration...or they just run out of money and give up. But, to win at this game you have to work smart and stay nimble. To do that, traders must never stop learning what matters and able to adapt to the market's ever changing dynamics. There's no trading system in the world that will do it for you.

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