I honestly cannot recommend that anyone develop, or follow up an interest in trading.

[oildaytrader]

Post of the week without a doubt

The owners of t2w are smart , they want advertising revenues cause they could make more money from advertising than trading themselves.

 

[oildaytrader]

This is a rubbish thread.

It ain't rubbish!

The comment is rubbish .The thread starter is correct.

 

[oildaytrader]

Welcome to t2w dude

You post everynight after your losing days ,and tantrums .Jtrader can trade better

 

[oildaytrader]

If Trading things such as shares, forex etc is so bad, why are so many clever people doing it? In other words, if the trading business is so non-advisable, why are many sensible/intelligent people interested in learning it?:?:

Also, give me a reason why a website such as 'trade2win' would be setup if trading is so difficult/dangerous?

Why are so many dumb idiots interested in learning it , would be a understatement

Sharky wets his pants before trading real money, thats y!

 

[oildaytrader]

Bebe777,.....HUH!,..you're addressing muah?
No comprendo,.explain, if you please : )

After the Wasp debacle ,you of all the Maddoffs!

 

[oildaytrader]

Yeah it was the O P specialist subject.

Its obvious you did not have ave any

 

[zupcon]

Why are so many dumb idiots interested in learning it , would be a understatement

The answer is GREED, but you already knew that

 

[virtuos0]

Trading is only arduous and inadvisable when you are **** at it.

 

[Hilarymannah]

Oilytrader,.......Please explain yourself !!

 

[counter_violent]

Its obvious you did not have ave any

Like you would know

 

[oildaytrader]

Hi

As of the end of today, i have asked to be banned from T2W for an "indefinate" period, so that i can be totally focused on trading, without any internet distraction/s that i may wander to in moments of boredom, that then cause me to make mistakes with my trades.

I now have what i consider to be a very solid methodology, that is as good as it can be, more or less.

This has taken years of painstaking work to develop. And from time to time, my inability to execute the plan correctly, can drive me up the wall.

For reasons of health, safety, financial security & mental well-being, I really could not & would not recommend to anyone that they develop or follow up an interest in trading - no matter how much they hate their day job, how bright they are, how motivated they are etc.

As it stands, trading is probably the worst thing that i have developed an interest in. If i make a small fortune over the next 1-2 years, it will redeem itself & perhaps become the best thing that i ever became interested. But at the moment, this is just speculation.

When someone asks me about what i do, i am reluctant to go into detail, to sound enthusiastic etc etc. Because i know that trading is a BRUTAL event. Failure to implement a near perfect methodology correctly can result in heavy losses.

Sorry to any newbies, that i cannot sound more inspiring about the subject of trading. But this message is meant as a harsh warning to anyone who has just developed an interest in trading.

Dreams of champagne & ferarris entice you in, but you really do not realise the quagmire that you are getting yourself involved in. This rabbit hole runs EXTREMELY deep.

If you are married, an obsession with trading could quite easily ruin your marriage. If you are single, it could really adversely affect your social life etc.

I'm sorry that in my final posts i cannot sound more encouraging regarding trading. However, I hope that my realisticness is of more practical benefit.


Be warned :!:


See you all on the other side!

I have to agree with your post.I went through the same cycle for 7 years ,until I automated 95 % of my trading.Last three years I spent very little time trading and spent most of my time testing theories on rubbish I read on the net, useless indicators and testing brokers.

With semi automation my plans are executed to precision,unless the broker is useless.
With automation I can trade multiple instruments and multiple sophisticated strategies, whereas manual traders can only trade one or two instruments and strategies.Trading multiple instruments and strategies works , whereas trading single or double strategies and instruments can fail frequently.

In the end it all came together for me, it won't ever happen for most people trading single strategies.I have always got some strategies making more money, when other strategies are failing

Trading automated systems is the key to success!The world's most successful trader uses automation .

O D T

 

[oildaytrader]

I really do wish you the very best of luck, at least it sounds as if you've identified a big part of the problem, and got things into a correct perspective.

I guess the bad news is, regardless of how much you make, one set of problems just gets replaced by another but thats part of the fun

What fun?

Trading plays a game of emotional blackmail on you,and manipulates your emotions to back losers , and eventually hurts your feelings by giving several consecutive losers.It knocks your confidence and hits your pocket, until your losses mount and the game plan goes out of the window.

In the end trader becomes irrational and tears the game plan.

 

[zupcon]

What fun?.

I find the whole process great fun, thats why I'm working at 10PM on a thursday night because its fun.

 

[Hilarymannah]

I agree with zupcon,..if it ain't fun, try something else, life's to short!
Trading is the best game in town, go figure,..

 

[oildaytrader]

I find the whole process great fun, thats why I'm working at 10PM on a thursday night because its fun.

Trading is serious business of defending yourself in a shark tank.If you are prepared to kill the sharks ,like me prepared to hit all,trader will have fun.Most won't be ready to play with sharks.

 

[Hilarymannah]

Oilytrader,.....quite the revelation,.the stories you make up in "your" mind,...
A question for you,..is life a battle for you ?

 

[oildaytrader]

Oilytrader,.....quite the revelation,.the stories you make up in "your" mind,...
A question for you,..is life a battle for you ?

Life is a struggle,not a battle,from the day you come out struggling.

We are realistic in our minds,most dream about success or hide failure yet boast about success, kinda split personalities.

Here is a realistic post summing up trading

Trading is a minds endeavor. Traders trade well for many days, months and then get into trouble.

http://www.trade2win.com/boards/tra...ng-does-take-become-trader-10.html#post540646

 

[Hilarymannah]

Oilytrader,...Isn't failure a part of success,..like the gamut of emotions people tend to label?
I like your take on it though,..try not to project your perspectives on others, it's quite the arrogant thing to do! : )

 

[Maviga]

If you ask a thousand people if they want to be rich, every one except the poet and the mystic will say yes. When you explain what is needed to become rich, maybe 600 of that initial 998 will say, “No problem, I can do that.” But when push comes to shove, when they have to sacrifice everything else in their lives–having a spouse and children, a social life, possibly a spiritual life, maybe every pleasure–to meet their goal, almost all of them, too, will fall away. Only about six of the original thousand will continue on the hard path.

Most of us don't have the discipline to stay focused on a single goal for five, ten, or twenty years, giving up everything to bring it off, but that's what's necessary to become an Olympic champion, a world class surgeon,a billionaire trader or a Kirov ballerina. Even then, of course, it may be all in vain. You may make a single mistake that wipes out all the work. It may ruin the sweet, lovable self you were at seventeen. That old adage is true: You can do anything in life, you just can't do everything. That's what Bacon meant when said a wife and children were hostages to fortune. If you put them first, you probably won't run the three-and-a-half-minute-mile, make your first $10 million, write the great American novel, or go around the world on a motorcycle. Such goals take complete dedication.
Jim Rogers
Investment Biker

 

[oildaytrader]

Oilytrader,...Isn't failure a part of success,..like the gamut of emotions people tend to label?
I like your take on it though,..try not to project your perspectives on others, it's quite the arrogant thing to do! : )

Agreed.Most traders will go through failures before achieve their objectives.I am just pointing out the road to success lies in automation,a lot of other traders may not agree.

Van K Tharp "At the most basic level, people must trade by processing information. Unfortunately, we're not very efficient information processors. However, I think most of those biases can be summarized by realizing that trading/investing are very simple processes and we human beings try to make it into something much more complex. Those biases are all about adding complexity to the world."

http://www.iitm.com/consulting/vkt_interview.htm

With this handicap ,how can discretionary traders be consistently profitable?