.... for just one minute to meet yourself in the past - when you had just heard about trading and decided to plunge into it:

1. Would you still let yourself go ahead and start learning about trading?

2. Would you FIRMLY stop yourself and tell yourself do not do this business?

3. Do nothing but do something else still only related to trading, e.g. changing teachers, systems, etc.

For the first two, please keep it for Yes or No and explain why.

For the last one, please keep it only for trading and nothing else, e.g. not marrying your other half and change the past to change this current present time to be with someone else.


For me, this is somewhat a tricky question. I would prefer point 3 and change/prohibit/warn myself in meeting with certain trading teachers I have met (which proved to be a waste of money and time). But overall, I would still prefer to do trading, although it may or may not be profitable in a long run.

Thanks!

lightsun47 

.... for just one minute to meet yourself in the past - when you had just heard about trading and decided to plunge into it: 1. Would you still let yourself go ahead and start learning about trading? YES 2. Would you FIRMLY stop yourself and tell yourself do not do this business? NOPE I've had a pretty good lifestyle because of the markets 3. Do nothing but do something else still only related to trading, e.g. changing teachers, systems, etc. I'd advise myself to focus on preserving capital and to have a written trading plan. Although I'm not sure I'd have listened to myself as several others gave me the same advice and at the time I was sure it didn't pertain to me. I was sure there was a secret that I would eventually find. For the first two, please keep it for Yes or No and explain why. !

Answers bold and underlined

lightsun47 

.... for just one minute to meet yourself in the past - when you had just heard about trading and decided to plunge into it: 1. Would you still let yourself go ahead and start learning about trading? 2. Would you FIRMLY stop yourself and tell yourself do not do this business? 3. Do nothing but do something else still only related to trading, e.g. changing teachers, systems, etc. ... For me, this is somewhat a tricky question. I would prefer point 3 and change/prohibit/warn myself in meeting with certain trading teachers I have met (which proved to be a waste of money and time). But overall, I would still prefer to do trading, although it may or may not be profitable in a long run.

Sure, I would just tell myself "Carry on" and come back to the present.

People learn in different ways at different times, and if I told my past self to do something or to avoid something, I'm sure my past self would find some other way to get into trouble, and then hopefully to get out of it. I had some things to learn and others to unlearn, and I don't want to spend time today thinking about undoing or redoing what I actually did, mistakes included. And of course, I can't change any of it anyway.

Bob.

I don't regret getting into trading, but I do wish I had done it sooner. I got into computer science to make videogames, and didn't realize until the end that I'd rather work in finance. Working for the large institutions as a trader or quant is a much better gig than fighting for scraps in retail. Generally those positions are recruited right out of school though.

From my experience the majority of people that end up retail trading took a wrong turn at one place or another.

Here, I filled it for you:

thank you for this topic I always think of it.

honestly, I regret 2 things not to find about this long time ago just since covid started 2020. other regret to waste time on CFDs markets. just few months shifted to futures markets.

I'm going to post a thread about CFDs and why I switched to futures.

TWDsje 

From my experience the majority of people that end up retail trading took a wrong turn at one place or another.

What do you mean

I read some of this thread but the title was pretty much all I heard so I will throw out my
Take on this as well as include some of my own history.

1. If you can find a mentor or friend who trades and is even semi successful or break even trader or even a net loser then work with them if they will let you.

I was surrounded by professional traders when I started trading but it was pre internet and things were much more the good old boys club then. To get a chart you bought a book and the charts were old and stalem you did not have access to every day an update like you do today. Knowledge is power and if I tell you hey... The macd works study it and you trust me .. then you are on the right track. The old way was .. is this book for real? Is this author even trading? What does this mean.. etc.

2. It used to take gobs of money to learn to trade before the micros before the internet with 1000s of charts and ideas posted daily. There was no way to be dynamic with it and then you had to call the floor well I had give up agreements so I did call floor direct but most called their broker who called the floor. You could if trusted get give up agreements and that would allow you to call direct and also zero margin checking but there was a limit to what they would let you do. I did a certain set of trades 1 day a month and it always paid me 3 to 5k on that day. After About 10 months I got cal from the CEO of the fcm. He was fishing on his sportfisher and was fuming at me. Saying I didn't have enough money to cover 1 million in margin. He was correct. Anyway.. my trade worked again but he said he might not let me keep the gains.. whatever he did but then closed my account. Looking back... Short selling big sp options for a few hours was in fact way more risky than I ever realized.

3. Study study study
4. Be open to other views other opinions with trading or how to trade. There is no right or wrong way. Profits= correct and Losses =wrong.
5. Trade live as much as possible and try different things ideas
6. Work on discipline outside of the mkts so it is maintained when risk is on
7. Take monthly breaks fast if a loser.
8. At some point you gotta quit if never making money

I mean look at this site. I offered to spend my own money and even more expensive my time doing some B. S. Fake prop firm funding thing for others benefit and not 1 person said.. wow.. a seasoned trader who showed us in real time over and over again her is profitable is willing to take his time and post his trades etc and tell us about the funding programs and not 1 person made a comment. Not 1. Knowing who I am and what I do in the markets everyday that was a gift. Trading can get mundane once you are profitable and consistent. If it's not then you aren't there yet. Anyway.. I would have jumped at that chance to get that information. But not on here

Also the comments people make sometimes on this site are hilarious. I posted a snippet of ymnactual acct etc. Called trades ahead of time then posted charts confirming my trade etc. But still skeptics attack. That's just jealousy so to do it over again... I would change nothing except to work harder and trade more and get a mentor if possible.

My point in talking about the site is that lots of people don't know a good thing when it exists in trading! Good luck. I'm always looking for edge money to take from the masses .

I would tell myself to continue trading futures. I started trading futures when I was 21 and I'm 34 now. I was trading ES back then. I pretty much blow up my account and stopped trading futures. I would tell myself to find a way to continue trading futures. If I would have continued I can only imagine how great of a trader I would be today. I just started trading futures again last March.

I would tell myself to get into trading and investing earlier, and I definitely wouldn't tell myself to stop. It's been such a great part of my life...not just because of the money but the passion and determination it brought out of me has been life changing.