Precisely,Sherlock.
But you've been at this point before, not least 3 years ago. I can see you know the rules, you know the tactics, you understand trading psychology (even if you can't apply it), you understand the game.
But it is the wrong game.
Precisely,Sherlock.
But you've been at this point before, not least 3 years ago. I can see you know the rules, you know the tactics, you understand trading psychology (even if you can't apply it), you understand the game.
But it is the wrong game.
I had a good read of this thread aag100, you are one battle hardened mother-lubber, quite a journey mate.
For what it's worth all I can say is I realised after about 2 years in that this game is a vacuous time zapping endeavor & the only way for me to stay in the game was not to devout my life to it, no matter how well I did or how disastrous the outcome.
I simply don't care for it enough to let it consume me. I personally know one poor bugger who left a great job as a quant (of all things) in London & spreadbet full time using his savings, 5 years later he is £10k down, it's not the £10k down that is the problem it's the fact he has not earned a single penny since leaving a well paid job 5 years ago & is now so hell bent on making it work that he's drifted worryingly into the mad delusional zone.
Something that may help you, I only trade (well synthetically trade/SB) part time, when I'm in, max 3 hours. I know I miss loads of opportunities at say 10.30am etc, but I simply don't care. This has helped me stand completely remote from the market, I get involved when it favours my conditions.
I've had days when the market has told me I've cracked the enigma code, then it's put it's DM boots on, sounds like you've been there.
Do I always make money ? no
Do I always hit the sweet spot ? no
Do I care ? no
Do I think many people genuinely make a good consistent living at this ? err that'll be a resounding no.
I make some, I loose some, main thing is I just don't care, it's a great second potential income stream, nothing more, I never intend for it to be so thank God.
its a difficult game.more chance of becoming a brain surgeon(pass rate 27% or so,compared to this 2-5%).
Your friend is of similar experience to me and could be someone I can work with.
Let him know.
I don't want to sound too negative about it, I know another guy who made a fortune in web start ups back in the day & now trades full time, he loves it. I thought my £20pp (which I no longer do) was billy big b@llocks, he does between £80 & £200pp & often holds long term
At the end of the day it's just not my idea of a future sat in front of monitors. I guess it depends on peoples life stage, relationship with money, personal relationships etc.
You mention working with the ex Quant, if a quant can't make a dime after 5 years while dwindling his savings I don't imagine he will after another 5 years. People talk about putting in a gazzilion hours, blood sweat & tears, but to my mind it reaches a stage where it is simply addiction.
It's like this at the end of the day........... you place a "trade" the SB will without a shadow of doubt take your position to an uncomfortable place (or worse simply take your hard stop that you've broadcast to them if it's too tight) while their "wrapped price" does what it likes (to a degree) unless you have entered with true market traction.
No amount of studying the market or 50 million hours of screen time is going to change this very real & very important fact. The quant will not make a jot of difference.
I don't care if he's quaint or queer.put it to him.let him decide if it's not too much trouble.
well since you asked so nicely, how can I refuse
Have you considered the possibility that you dont know shît?
No cos the probability of that is non existent.but the little I do know would equate to genius next to a dumb ass like you
I remember when I was around 5-6 years in that I really started to question if I knew much at all about trading. I mean sure I was well versed the usual tarder bullcrap, but the problem with bullcrap is, well, its bullcrap innitive now put in about 10k hours and taken 10k trades in the last 6yrs.yet sometimes i feel like im right back at the beginning
Jesus this thread is very entertaining, but also painful to read. You should really re-evaluate whether trading is the right path for you. You're making the same mistakes as you were 6 years ago it seems.
Have you considered the possibility that you dont know shît?
No worries mani think i owe you an apology.i misread the tone of your sage advice.