FAQ How Long Does it Take to Make a Stable Income from Trading?

[Mr Sept]

 

[Mr Sept]

What do you mean with simply bot, whether this is robot trading that called as expert advisor to automatic trading, I am not use ea in my trades usually and still prefer manual trading.

I enjoy making my own coffee ......laughing

 

[radex78]

I enjoy making my own coffee ......laughing

Nice, what cofee tou like? I like with white cofee, but often while online trading only making sweet of tea and smoking, making enjoy and calm minds

 

[idimitrov]

It is subjective because it depends on the trader. And there is a case that the income level is never reached.

 

[zaysev36]

It is subjective because it depends on the trader. And there is a case that the income level is never reached.

How so? Wouldn't it indicate that you're doing something wrong if you can't reach your own target income? Perhaps you should rethink your trading plan a bit?

 

[radex78]

How so? Wouldn't it indicate that you're doing something wrong if you can't reach your own target income? Perhaps you should rethink your trading plan a bit?

maybe not always we will can achieved target profit, in many business there are profit that always up and down and somettime loss, but of course if often loss hence need to rethink why and learn to get bettement trading skill

 

[zaysev36]

maybe not always we will can achieved target profit, in many business there are profit that always up and down and somettime loss, but of course if often loss hence need to rethink why and learn to get bettement trading skill

Yep, that's my point. You should either have a superior strategy to be able to achieve your goal, or have your goals fixed to fit realistically to your possibilities.

 

[radex78]

Yep, that's my point. You should either have a superior strategy to be able to achieve your goal, or have your goals fixed to fit realistically to your possibilities.

But however if likely we not achieved our goal hence don't let us in desperation, because sometime we faced with obstacle and then give up and leaving business, success will never come instantly I think

 

[zaysev36]

But however if likely we not achieved our goal hence don't let us in desperation, because sometime we faced with obstacle and then give up and leaving business, success will never come instantly I think

Agreed. And sometimes there's simply lose streak, when everything you bet on seems to fail. These days I simply switch off my computer and go for a walk. Imo a trader should know when to let go

 

[radex78]

Yes It's good idea if suffering with loss then break awhile and walk to the garden or something else to refresh minds, usually if continue to trade it will become emotion and making reckless decision will better in trade always in calm minds and far from bad emotion

 

[NVP]

How so? Wouldn't it indicate that you're doing something wrong if you can't reach your own target income? Perhaps you should rethink your trading plan a bit?

I can only speak for my Forex scalping activity on a daily basis but to me you have to be very very mindful of setting too strict targets ...(aside from losses of course - that is bad !!!) ......I have indicators roughly telling me how much I should be making in the G8 market - based on the markets volatility and correlation factors

if its a bad few days in the market regarding such things you can allow yourself a little leeway and not get too upset ....give yourself a pat on the back in fact if you did well)...likewise if the day is a pipfest (like later London today)....you need to be upgrading targets to reflect the extra money possible

so flexed and pragmatic approach is recommended from me re targets :smart:

N

 

[zaysev36]

I can only speak for my Forex scalping activity on a daily basis but to me you have to be very very mindful of setting too strict targets ...(aside from losses of course - that is bad !!!) ......I have indicators roughly telling me how much I should be making in the G8 market - based on the markets volatility and correlation factors

if its a bad few days in the market regarding such things you can allow yourself a little leeway and not get too upset ....give yourself a pat on the back in fact if you did well)...likewise if the day is a pipfest (like later London today)....you need to be upgrading targets to reflect the extra money possible

so flexed and pragmatic approach is recommended from me re targets :smart:

N

Totally! Pragmatic is the best word to describe my point - targets should not be unrealistically set. Sure, it's fine if you can't reach them once in a while, but a constant inability to meet the goal is a sign that something should be changed - either your performance or your attitude

 

[lawrence-lugar]

Years.
Being a successful trader...is like obtaining a black belt in karate. :-0:| or a master's or doctorate degree.

Any wise, mature, experienced, successful trader will tell you so too.
Infact, it's easier...to obtain a master's or doctorate degree....then it is to be really, really successful in trading.

 

[Solas0077]

5-10 years

 

[itspossible]

A person needs to understand the constantly changing environment of stocks world in order to stay in the game.
There are various strategies that you can follow for instance buying and selling stocks the same day which is called day trading. In this trading, you can leverage large amounts in order to get benefits from small price movements.
To make profits time and again one has to be disciplined and consistent in his approach.

NO NO-I traded stocks for a number of years using leverage.very bad advice.you will get caught and destroyed-NO NO NO.Profit warnings-stocks halted and trading suspended-too many traps.NO NO NO

 

[petetrades]

Years.
Being a successful trader...is like obtaining a black belt in karate. :-0:| or a master's or doctorate degree.

Any wise, mature, experienced, successful trader will tell you so too.
Infact, it's easier...to obtain a master's or doctorate degree....then it is to be really, really successful in trading.

No, making a stable income from trading is much more difficult than obtaining a black belt. Being able to make a stable income in the present and project those returns into the future is nearly impossible, which is why so many veteran and one-time successful traders become trading vendors, book authors, real estate investors, etc. Nearly all traders end up seeking out stable sources of income which trading ipso facto is not.

 

[Signalcalc]

Could it be case that veteran traders have lost their edge due to arbitration of strategies that are publicly known and that the markets have changed from what they were 20/30/40 years ago and those vets have found their edge has been lost, so they write books and peddle strategies that worked 20 years ago but no longer, but naive punters believe the stories and buy the products, keeping the vets afloat.

 

[petetrades]

Could it be case that veteran traders have lost their edge due to arbitration of strategies that are publicly known and that the markets have changed from what they were 20/30/40 years ago and those vets have found their edge has been lost, so they write books and peddle strategies that worked 20 years ago but no longer, but naive punters believe the stories and buy the products, keeping the vets afloat.

Yes, that seems to be the case. I'm making the point that it's not like getting a black belt at all. Even if someone is profitable now their edge is likely to be nonexistent in the next decade or less with future advancements in algorithms compared to the relatively modest advancements in algorithms in the past 20 years.

 

[petetrades]

Final answer: It is impossible for any one individual retail trader to ever make stable income from trading, all promises are part of a marketing agenda to trade your hope and desperation for money. The best traders, non-retail, like Paul Tudor Jones, have had losing years after seemingly becoming "consistently profitable." James Simons of Renaissance technologies has been retired for ten years, without his team of quants and now in his dotage would probably find it difficult to trade for a stable income on his own, according to Wikipedia Renaissance "was able to avoid paying more than $6 billion in taxes by disguising its day-to-day stock trades as long term investments,", presumably they had a lot of losing trades as well that these tax-code manipulations helped alleviate. Conclusion: no individual non-instituional trader can ever have a stable income from trading.

 

[Tytus_Barnowl]

Stable income in trading. UMMMMM. From day 1 if you have a viable plan with backup capital to control your risk then it all depends how much of a moronic gimp you are. Extremes are:
Total moronic gimp who does not have a plan nor the will to follow one.
Sensible person, with a plan and the self discipline to follow it.
Which are you?
I was at an event in London 2 days ago where some presenters focussed upon the 2 extremes I have referred to (bit boring innit) however others were selling the dream of opulent spending of the wealth you will create. I would probably have grown an erection if the presenter had been female but the fact is birds in short skirts handing out leaflets do not make me any money, my trading plan does but it is too boring to post on a site like this.