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How was your path of becoming profitable


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How was your path of becoming profitable

  #11 (permalink)
Legendary Market Wizard
Portland, OR
 
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Massive l's Avatar
 
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If you want it you'll find it. Before the path to success comes the path to breakeven. You have to be in this because of an extreme obsession for coding, stats, numbers and winning. It has to be your #1 passion. If you're here for the money, you might as well kiss it goodbye. The money comes because of the obsession for the former.

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  #12 (permalink)
Legendary Market Wizard
Chicago
 
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Massive l View Post
If you want it you'll find it. Before the path to success comes the path to breakeven. You have to be in this because of an extreme obsession for coding, stats, numbers and winning. It has to be your #1 passion. If you're here for the money, you might as well kiss it goodbye. The money comes because of the obsession for the former.

Hey @Massive l! How did you make the transition into coding your strategies as opposed to executing manually?

EDIT: In hind-sight, I should probably ask this question next time you post in your journal. Didn't mean to distract from OP's original intention!


Last edited by snax; August 3rd, 2019 at 01:29 PM.
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  #13 (permalink)
Oslo Norway
 
 
Posts: 119 since Aug 2018
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15 years of market exposure on/off. Made a lot of money. Lost even more. Some periods very intense. I've been fairly exhausted for the last 2 years juggling trading research/development with a full-time job. Lost contact with some friends and declined social stuff, but trying my best to maintain relationships with my closest ones.

If you want to succeed with this, you're likely required to make sacrifices. Also - it's much harder than you think and the harsh truth is you're not likely to succeed. There's really nobody to guide you as the ones who are most eager to help usually knows the least and those who know generally keep things for themselves.

My advice is to choose a volatile, liquid market and learn that market as it is. Not how you think it is. Now what some guru says. Or not what you think it should be. The market simply is.

What is that you see every day happening in front of your eyes. It goes up, yes? It goes down? Repeatedly? How much? How often?

As soon as you can - start logging information about what it is you see. Track the market and create statistics.

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  #14 (permalink)
Detroit MI/USA
 
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Massive l View Post
It has to be your #1 passion. If you're here for the money, you might as well kiss it goodbye. The money comes because of the obsession for the former.

Have to concur with this - trading has to be a passion and an obsession in the beginning. You Have to be determined to be successful and then carve out that path to success.
Look at a lot of charts and just observe initially. Your mind will start showing you things that gel with what is best for you. Maybe a certain pattern jumps out at you regularly, maybe volatility based bars show you some secret, maybe a collection of bars in some sort of format tells you something.
Bottom line is..do a lot of observing initially and read up on money management extensively. You need to master these 2 puzzles first and then deal with your own mind when you eventually start trading live. But live trading is way in the future so just concentrate on these 2 first.

Have fun initially but become very serious when it comes to training the mind.

All the best.

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  #15 (permalink)
Cape Coral FL USA
 
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Trading: CL, ES
 
Posts: 21 since Aug 2014
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It's taken 22 years but am finally getting the hang of it.

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  #16 (permalink)
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I was lost until I happened upon Damian Castilla on youtube. He is as legit as they come. Uses no indicators, sells nothing, and trades a multi-million dollar account. Learn the basics from Damian, and it will save you many months/years of struggle.

I sound like an advertisement but it really is worth checking out!

https://www.youtube.com/channel/UCy5Zq25cFK3FZeF26wn4m0w

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