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Traders Life - just some reading for enjoyment
Started:April 22nd, 2012 (08:44 PM) by Gisfor Views / Replies:702 / 7
Last Reply:May 15th, 2012 (04:07 PM) Attachments:0

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Traders Life - just some reading for enjoyment

Old April 22nd, 2012, 08:44 PM   #1 (permalink)
Trading Apprentice
chicago il USA
Futures Experience: Intermediate
Platform: TOS
Favorite Futures: /ES
Posts: 19 since Apr 2012
Thanks: 9 given, 11 received

Traders Life - just some reading for enjoyment

1. We accumulate information - buying books, going to seminars and researching.
2. We begin to trade with our 'new' knowledge.
3. We consistently 'donate' and then realise we may need more knowledge or information.
4. We accumulate more information.
5. We switch the commodities we are currently following.
6. We go back into the market and trade with our 'updated' knowledge.
7. We get 'beat up' again and begin to lose some of our confidence.
Fear starts setting in.
8. We start to listen to 'outside news' and to other traders.
9. We go back into the market and continue to 'donate'.
10. We switch commodities again.
11. We search for more information.
12. We go back into the market and start to see a little progress.
13. We get 'over-confident' and the market humbles us.
14. We start to understand that trading successfully is going to take more time and more knowledge than we anticipated.


15. We get serious and start concentrating on learning a 'real'
16. We trade our methodology with some success, but realise that something is missing.
17. We begin to understand the need for having rules to apply our methodology.
18. We take a sabbatical from trading to develop and research our trading rules.
19. We start trading again, this time with rules and find some success, but over all we still hesitate when it comes time to execute.
20. We add, subtract and modify rules as we see a need to be more proficient with our rules.
21. We feel we are very close to crossing that threshold of successful trading.
22. We start to take responsibility for our trading results as we understand that our success is in us, not the methodology.
23. We continue to trade and become more proficient with our methodology and our rules.
24. As we trade we still have a tendency to violate our rules and our results are still erratic.
25. We know we are close.
26. We go back and research our rules.
27. We build the confidence in our rules and go back into the market and trade.
28. Our trading results are getting better, but we are still hesitating in executing our rules.
29. We now see the importance of following our rules as we see the results of our trades when we don't follow the rules.
30. We begin to see that our lack of success is within us (a lack of discipline in following the rules because of some kind of fear) and we begin to work on knowing ourselves better.
31. We continue to trade and the market teaches us more and more about ourselves.
32. We master our methodology and our trading rules.
33. We begin to consistently make money.
34. We get a little over-confident and the market humbles us.
35. We continue to learn our lessons.
36. We stop thinking and allow our rules to trade for us (trading becomes boring, but successful) and our trading account continues to grow as we increase our contract size.
37. We are making more money than we ever dreamed possible.
38. We go on with our lives and accomplish many of the goals we had always dreamed of.


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Old April 22nd, 2012, 08:44 PM   #2 (permalink)
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Old April 23rd, 2012, 04:26 AM   #3 (permalink)
Elite Member
Futures Experience: Advanced
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Fadi's Avatar
Posts: 482 since Apr 2012
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so true :-)

Successful people will do what unsuccessful people won't or can't do!
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Old May 3rd, 2012, 06:15 AM   #4 (permalink)
Trading Apprentice
Leeds Yorkshire UK
Futures Experience: Beginner
Platform: IG
Favorite Futures: Forex
Posts: 21 since May 2012
Thanks: 31 given, 18 received

Good post, pretty much spot on!

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Old May 3rd, 2012, 04:02 PM   #5 (permalink)
Market Wizard
Auckland, New Zealand
Futures Experience: Beginner
Platform: Sierra, NT
Broker/Data: AMP/TT & NT/Continuum
Favorite Futures: ES
Posts: 1,782 since Sep 2009
Thanks: 3,100 given, 1,294 received
Forum Reputation: Legendary

Duplicate thread/post

Futures Edge on FIO

How much money do you need to trade futures successfully?

See here

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Old May 3rd, 2012, 04:48 PM   #6 (permalink)
Trading Apprentice
chicago il USA
Futures Experience: Intermediate
Platform: TOS
Favorite Futures: /ES
Posts: 19 since Apr 2012
Thanks: 9 given, 11 received

sorry a friend gave it to me and i posted it......

at least now i know where it came from......

it is an awesome analogy........

thanks to whomever.......

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Old May 10th, 2012, 04:38 AM   #7 (permalink)
Elite Member
Johannesburg - South Africa
Futures Experience: Intermediate
Platform: Self built + Sierra + TWS
Favorite Futures: Stocks and Options
DarkPoolTrading's Avatar
Posts: 1,017 since May 2012
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Very true.

So who wants to post what number they think they're on? (probably a lot lower than we'd all hope)

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Old May 15th, 2012, 04:07 PM   #8 (permalink)
Trading Apprentice
New York, NY
Futures Experience: Master
Platform: Proprietary AWS Infrastructure
Favorite Futures: Forex
Posts: 5 since Mar 2012
Thanks: 0 given, 0 received

Quite true!

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