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

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Ten-thousand in Education and still not profitable!

  #73 (permalink)

Sydney, Australia
Trading Experience: Beginner
Platform: Ninjatrader
Broker/Data: Mirus
Favorite Futures: FDAX
Posts: 139 since May 2010
Thanks: 150 given, 94 received

I empathize with the OP. Not because I am a losing trader ( I am only trading very very small size at the mo, and I am relatively pleased with the results at this early stage), but because I still feel as if I need validation that the profitable traders are not just the outliers.

As an analogy; get a room of 1000 people and get them to flip a coin ten times in a row, 1 or 2 of them will probably get the same thing 10 times in a row. If you were filming every person, you could take the video of the people who got them all in a row and use it to try and prove they had some type of coin flipping power/skill.

The thing is though, if they kept flipping away, their anomalous run would evaporate at some stage, it is just a question of when.

what the question "are there profitable traders" is underscoring is really "Is it possible to get an edge trading, or is the market random over the long haul".

While I am not convinced that i know the answer, I am 90% sure that an edge can be won, but it has to be figured out and related to specific markets, and specific conditions through experience and hard work. Just following principles that you read in a book or learn at a course will not work if you do not truly understand WHY they are principles in the first place.

I decided to get into trading because my thought process was "It is just a case of knowledge. Most people don't make the effort because it is too much to learn, and most people just follow along with the 9 - 5 daily job path they have had laid out for them via legacy".

I assumed that with hard work and learning getting to understand how economics works, how money flows,... basically how the whole finance system works, it would then just being a case of putting that knowledge into practice to invest. However as I progressed I saw that the world of daytrading which I was attracted to was mired in what I consider to be worthless technical analysis techniques (not saying all are invalid ), and people chasing their tails because they do not understand randomness and probability.

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