Are You Just Trading to Make a Living?

I trade for 2 reasons, 1: I find it fascinating and enjoy it more than most of the other business i do... 2: If you do get to a good level you really can make an absolute fortune. Personally i'd like to get to a level where i'm making at least 6 figures annually... if i don't achieve this level within a few years then its not worth giving my time tbh. Based on how things are going now i'm confident that everything will continue to go to plan.
 
Doomberg said:
I trade for 2 reasons, 1: I find it fascinating and enjoy it more than most of the other business i do... 2: If you do get to a good level you really can make an absolute fortune. Personally i'd like to get to a level where i'm making at least 6 figures annually... if i don't achieve this level within a few years then its not worth giving my time tbh. Based on how things are going now i'm confident that everything will continue to go to plan.
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Ignorance is bliss.
 
I'm only investing what I can afford to lose without having to change my lifestyle. So it is basically the same as playing the market on a game, I have already mentally prepared myself for the possibility that I could get wiped out; so, hopefully, no stress.
 
BeginnerJoe said:
This is too depressing. I think the OP is looking for a more positive story. Can't you say something like you will make 10 million in 2 years, preferably with a starting capital of 100 ?
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I'm just cognizant of the fact that a large percentage of non-professional investors lose money (as do a lot of professional investors, but they seem to be buttressed by the institution they work for), often all of their money. Obviously it is not my intention to do so :) I'll worry about making a million when I've made a thousand. One step at a time etc
 
jthetrader said:
I'm just cognizant of the fact that a large percentage of non-professional investors lose money (as do a lot of professional investors, but they seem to be buttressed by the institution they work for), often all of their money. Obviously it is not my intention to do so :) I'll worry about making a million when I've made a thousand. One step at a time etc
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Pussy. Grow some nuts and shoot the lights out from day one.

(Just kidding, you're taking the right approach really.)
 
Doomberg said:
Based on how things are going now i'm confident that everything will continue to go to plan.
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N.B - This is not a negative post. Now Doomberg, I'm all up for a bit of positive thinking, but you've got to be brutally realistic at the same time. If you ever want to get near to where you want to be in trading, which the chances are miniscule anyway (for everyone), you'll experience so many account-threatening periods years after you think you've "got it", and certainly years ahead of where you currently are in your own development Doomberg, that you'll question whether you can even continue or come back at all, and that's with numerous profitable years under your belt already. Trust me, trading never goes to "plan", and it's completely non-linear. But it is possible...
 
I'm sure everyone wants to be rich, but coping mentally with trading large sum's in the market is something im sure not everyone can handle whilst still functioning as a normal human being.

This is just speculation on my part though, my account is only £1400. I'm looking to build that thing to the point where I can take £100k out p/a but still grow it year on year.
 
barryb said:
N.B - This is not a negative post. Now Doomberg, I'm all up for a bit of positive thinking, but you've got to be brutally realistic at the same time. If you ever want to get near to where you want to be in trading, which the chances are miniscule anyway (for everyone), you'll experience so many account-threatening periods years after you think you've "got it", and certainly years ahead of where you currently are in your own development Doomberg, that you'll question whether you can even continue or come back at all, and that's with numerous profitable years under your belt already. Trust me, trading never goes to "plan", and it's completely non-linear. But it is possible...
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Yeah sure i understand that its rare for people to be making serious money from trading but its possible, and with correct money management account blowups can be kept to a minimum, especially in day trading where you only allow a certain amounts of points to be lost on the day... there are successful traders, many on this site too... its just a shame that only a few of them are open about it and make journals etc, the rest are ninjas doing what they do and keeping quiet about it all which i can understand
 
Doomberg said:
Yeah sure i understand that its rare for people to be making serious money from trading but its possible, and with correct money management account blowups can be kept to a minimum, especially in day trading where you only allow a certain amounts of points to be lost on the day... there are successful traders, many on this site too... its just a shame that only a few of them are open about it and make journals etc, the rest are ninjas doing what they do and keeping quiet about it all which i can understand
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Doomyburger, are you trying to teach your grandma to suck eggs here?
 
in the olden days they used to suck eggs, thats why u shouldn;t try to teach your grandmother to do it.

r u such a n00b at everythin?
 
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