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When can I call my self profitable ?


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When can I call my self profitable ?

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  #1 (permalink)
 OG65 
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At which point does a trader qualify to receive the name of profitable?
what timeframe he needs to be profitable
1 Month
2 Months
6 Months
1 Year

is this a stupid question ? Can I call myself profitable when i am profitable for 1 month now?

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  #2 (permalink)
 chipwitch 
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OG65 View Post
At which point does a trader qualify to receive the name of profitable?
what timeframe he needs to be profitable
1 Month
2 Months
6 Months
1 Year

is this a stupid question ? Can I call myself profitable when i am profitable for 1 month now?

I'm not there yet. But I am close. I am still sim trading but seeing really good consistency there and any day now expect to start trading live. You can call yourself profitable whenever you want.

But, from where I sit, not yet profitable, I think I know what you're asking. Perhaps I'm projecting my own feelings onto you, but I think you're really wanting to know at what point will you have reliable income. That's on my mind. But it's deeper than that. There is so much uncertainty in trading. You're probably looking for something you can "hang your hat on." At what point will the confidence stop fluctuating between doubt and knowing? That's what I feel.

So, call yourself "profitable" whenever you feel it. It isn't a permanent condition. It may last only a month or 10 years. Who knows? What's in a name? It's more important to *be* profitable than to "qualify to receive the name."

Welcome to trading.

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 tr8er 
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OG65 View Post
At which point does a trader qualify to receive the name of profitable?
what timeframe he needs to be profitable
1 Month
2 Months
6 Months
1 Year

is this a stupid question ? Can I call myself profitable when i am profitable for 1 month now?

1 month in trading is nothing. I would say if your overall balance is positive, you are profitable

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 deaddog 
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OG65 View Post
At which point does a trader qualify to receive the name of profitable?
what timeframe he needs to be profitable
1 Month
2 Months
6 Months
1 Year

is this a stupid question ? Can I call myself profitable when i am profitable for 1 month now?

You are profitable any time you have more capital than you started with. Have you made a profit? If Yes, then you are profitable.

It gets more complicated when you have to define successful. Then you need a benchmark to compare yourself against.

"The days when I keep my gratitude higher than my expectations, I have really good days" RW Hubbard
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 WoodyFox 
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OG65 View Post
At which point does a trader qualify to receive the name of profitable?
what timeframe he needs to be profitable
1 Month
2 Months
6 Months
1 Year

is this a stupid question ? Can I call myself profitable when i am profitable for 1 month now?

For me...When I received my Form 1099B and the realized P/L for a whole year of trading was positive for the first time, I knew I could handle this going forward. It was also supporting to know that my yearly equity curve was not to far off from historical testing. Throw in the fact that it was also done while trading in several markets gives a real sense of confidence. That being said, I still occasionally think "what if this all comes crashing down"? So that is my focus, keeping that from happening.

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 TWDsje   is a Vendor
 
 
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I am not a fan of the term "profitable trader". I believe it sets up an unrealistic standard that sets beginners up for failure. It seems to imply that there is some level at which you can reach where your success is likely to continue. That you simply need to put in your due, and you'll be good from there on out. The reality though is that even the best traders will have losing years.

I feel that such unrealistic expectations lead many to give up at the wrong time. For instance, they might give up after trading a few months on sim, but it takes many people years to put together a winning month. Or you get all these people that quit their day job after successful trading in 2020, and then blew their accounts in may of 2022.

But I'm not going to invest in your fund unless you can show me at least 5 years of returns.

- SpeculatorSeth
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kxmp
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There is a 3months cycle.

because 3months the earth moves 90degree and mercury have a whole orbit.

You usually experience a inverse price whatever the direction you trade.

Because a cycle contains a up and down move.

If you can survive a cycle then it's not a big problem to become a full time trader.

In recent Chinese news(I never read those news, it's a accidently I met this information).
I heard a operate failed and lost some 10 20 or some x0 million money. Or maybe I misremembered. It's a 500million losted.
And the fun part is he profited for 5months before. (But the price is always up and not down)

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 Anagami 
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OG65 View Post
At which point does a trader qualify to receive the name of profitable?
what timeframe he needs to be profitable
1 Month
2 Months
6 Months
1 Year

is this a stupid question ? Can I call myself profitable when i am profitable for 1 month now?

I'd say the moment that you take photos standing on your yacht, but that's rather individual. :P

You are never in the wrong place... but sometimes you are in the right place looking at things in the wrong way.
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 DavidHP 
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I never needed $$ to determine my success.
Many times 'profitable' is not related to positive $.

I know many people that have made millions only to go bankrupt.
Does that make them a failure and not profitable?

Don't put pressure on yourself to have a monetary goal.
Your goal should to be happy and sucessful and at the same time have a plan for the future to attempt great things.
"Shooting for the stars and hitting the moon is better than shooting for the ceiling and never getting off the floor"

If your goal is success, profit will follow and if it does not, you will still be satified with the result.

Have a great day

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Knowing it's not about Clouds or Wind. . .
But Learning to Dance in the Rain ! ! !
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I heard if a retail trader can break even after 6 weeks they can make it as a professional. If you can be profitable over 2 years you can consider quitting your job. In the end, it is up to the trader for when they feel comfortable.

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