That is my current plan, but I really don't think I will ever be "done". I mean I want to just lounge around at the beach and go on cruises and travel the world as much as the next guy... but I think trading will always be a part of my life, even if just as a hobby, or not to sound presumptuous but perhaps as an educator or mentor.
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Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
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The following user says Thank You to Big Mike for this post:
I never thought of doing it that way, but it's very straightforward, and simple, which is always a good thing. For me however, it more of a visceral kind of thing; I don't have to look at my P&L. I know when I'm trading well and when I'm not, regardless of my P&L and irrespective of market conditions.
The following 2 users say Thank You to tigertrader for this post:
My goal has always been to break free from the screen and rather do global macro trading. I think trading will be a part of my life until the end; it's just as much a passion as it is a job. I don't feel the need to be glued to the monitor(s), though.
My number is bigger than the liquidity of the markets, that's why I need to branch out!
The following user says Thank You to Lornz for this post:
My goal is to be working when I drop dead. But I define work more as a calling, a mission if you will. Trading is just a means to that end. So if I am physically able to be working in my life's mission on the day I die, I will probably be trading to fund that work.
I love many aspects of trading, BUT I love what I can do with the proceeds better. I am willing to do whatever it takes with regards to trading to have enough money to do the things I love to "work" at.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
The following 2 users say Thank You to PandaWarrior for this post:
This takes a special kind of person to be able to do that. I know you know that, but boy, sitting on the beach for so long truly is hard unless you were raised that way in my opinion. We all have dreams of being unproductive, but it isn't in our genetic makeup. Otherwise we would have been Lion food a long time ago.
well said. I know my food won't taste the same unless I can trade. I think it is OK to be addicted to your passion in life.
I have a friend who started a HFT company. He built it up where last year he had about 20 employees and made tens of millions of dollars. Now that he is retired after selling off his company, he is bored to tears. He tried taking university classes to pass time, took up playing classical music, travel etc but nothing seems to comfort him...
I believe setting monthly targets while system trading will skew the statistics. Not a good idea imo. As others mentioned, the equity curve will also trend and then go sideways to down. best to push it during the times of uptrend( when presumably there is a strong correlation between your system and the mkt)
may I ask what is your motivation for setting monthly targets, why stop, computers don't need a rest