Who actually makes a decent living out of trading...!?

[the hare]

My conclusion is therefore, if you can't crack it (ie make a decent amount of money or show significant improvement) after having all the right instruction and doing the practice then the right thing to do is bin the idea of being a trader.

The problem with that is you cant really identify what the correct information is, and sometimes the information is only correct in a particular context. There's this whole problem of matching styles, timeframes, risk tolerance etc to individual psychology

Then there's the issue of how much practice is required, 100 hours, 1000 hours, 10,000 hours ? Its a bit of a pity to give up today after 9500 hours if the lightbulb moment was going to happen next week.

Dont even get me started on the random nature of returns !

There really is a lack of quality advice (and mountains of bad advice) and thats always going to make it hard.

The question is a bit nieve, its like saying who actually makes a decent living out of playing football, its irelevant unless you have a talent for kicking a ball about. I doubt there are many professional footballers playing the sport simply because they thought it was a reasonable career choice at the age of 5.

 

[D.Gilberto]

0007 I have been making profits thankfully. Im curious to know other peoples situations from the general vibe on this forum.... and whether people MAKE a LIVING i.e. not being 5-10% up on a £1k acc per month because we all know that isnt enough to live off, unless your living in your neighbours garden using her broadband on a laptop to trickle those pennies... (although dont get me wrong that is good! Of course because of SIZE as mentioned in the first post...)

So do me a favour and in the greatest respect you`ve gone a little off topic with a ramble there. I haven't asked for someone` opinion if whether or not based upon the necessary steps required set out by an individuals view on trading were not to be fulfilled within those parameters i should therefore give up.... I've asked "Who actually makes a decent living out of trading...!?"

"This seems to be a regular basic question to which there will in all likelihood be no verifiable answers because it's a bit like living in suburbia, where neighbours are all giving the appearance of trying to outdo each other and won't admit that perhaps they are bottom of the pile." lol

Thanks to all the posts by the way! The few who stayed on topic. (Dont take any of my responses personal i don't mean to be offensive)

 

[morgan_edge]

CounterViolent seems to make a grand or so most days from his statements, so that's one person.
There's a few others too.
About 10 posters make a good living trading, I think.

 

[D.Gilberto]

Jesus. Thats incredible? Thanks Morgan_edge.

 

[BeginnerJoe]

CounterViolent seems to make a grand or so most days from his statements, so that's one person.
There's a few others too.
About 10 posters make a good living trading, I think.

Do you suppose they post their large losses ? The only verifiable approach I would find convincing is if they post pics of their ferraris and and good looking GF's.

You will also notice some successful ones are in jobs and don't quite have the confidence to go large or scale up their trading activity. There's a reason for that and I reckon they are on guard against going belly up.

 

[redart]

Do you suppose they post their large losses ? The only verifiable approach I would find convincing is if they post pics of their ferraris and and good looking GF's.

You will also notice some successful ones are in jobs and don't quite have the confidence to go large or scale up their trading activity. There's a reason for that and I reckon they are on guard against going belly up.

...

 

[BeginnerJoe]

Jesus. Thats incredible? Thanks Morgan_edge.

You don't seem impressed. If you can make an average of $£1000 a day, that's a passable living.

 

[BeginnerJoe]

...

Now, have a GF pose with a placard that says toast is ...

 

[tommac]

A few years back I was pally with a boss of one of the big SB companies and he told me only a handful of accounts make REGULAR good money and the rest pay their wages.
I make a "living" but I had a reasonable pot to start with. ---Or maybe not, its a BB , you`ll never get an answer

 

[timsk]

The problem with that is you cant really identify what the correct information is, and sometimes the information is only correct in a particular context. There's this whole problem of matching styles, timeframes, risk tolerance etc to individual psychology

Then there's the issue of how much practice is required, 100 hours, 1000 hours, 10,000 hours ? Its a bit of a pity to give up today after 9500 hours if the lightbulb moment was going to happen next week.

Dont even get me started on the random nature of returns !

There really is a lack of quality advice (and mountains of bad advice) and thats always going to make it hard.

The question is a bit nieve, its like saying who actually makes a decent living out of playing football, its irelevant unless you have a talent for kicking a ball about. I doubt there are many professional footballers playing the sport simply because they thought it was a reasonable career choice at the age of 5.

I agree with the hare and am actively trying to address the issue highlighted in blue with the Stickies and FAQs here on T2W. As always, I welcome input as to how these can be improved - as well as ideas for new ones. Additionally, if anyone who reads them finds any inaccuracies or think something is misleading, please either post your concerns to the relevant thread or contact me and I'll edit the the Sticky / FAQ accordingly. Between us, we can gradually build a set of resources that nails the problem highlighted and helps to ensure that new traders get a solid foundation to their trading careers.

Thanks for you input!
Tim.

PS. Apologies to the OP for the off-topic post!

 

[0007]

So do me a favour and in the greatest respect you`ve gone a little off topic with a ramble there.

Heartily agree. All part of the lulz. Down at the pub they would probably have forced me to shut up ages ago. But the markets don't open until 2.30pm & I've not got much else on this morning. Thanks for your understanding!

 

[Pazienza]

Heartily agree. All part of the lulz. Down at the pub they would probably have forced me to shut up ages ago. But the markets don't open until 2.30pm & I've not got much else on this morning. Thanks for your understanding!

Our boat is the same.

 

[BeginnerJoe]

Our boat is the same.

I'd certainly be convinced if you can show pic of a sizable boat in your name. A dingy or bag of chips is no use.

 

[Pazienza]

I'd certainly be convinced if you can show pic of a sizable boat in your name. A bag of chips is no use.

Joe, I know you like boats, because they bring you lots of horny customers. Sailors who have been cooped up for months at a time, then they come ashore. After a few hours you have a severe ache in the stern, but your pockets are full.

 

[Devilicus]

I think DashRiprock (Currently MIA) made money.

 

[D.Gilberto]

awesome thanks guys. So out of the whole forum or of those who read this thread approx 2-3 guys out of 250k plus makes money.... or hopefully im calling it a little to early and people will start to come out of the wood works...

 

[advfntrader]

theres nowhere near 250k active posters here, thats everyone whos ever joined. 5% of say 1000 = 50 people, more likely 5% of 500 semi-regular posters = 25 people

 

[Devilicus]

About 100 active, regular posters, about 6 profitable posters who meet your criteria and make a decent living from trading.

 

[scose-no-doubt]

I can think of 10 off the top of my head that I reckon are making money. Struggling after that.

 

[D.Gilberto]

Ok guys.... Im sorry to say this but i`ve just transferred my winning profits over to bank as im not convinced on this (plus a combination of reading alot on these forums - and a few losing trades but overall up by quite a bit) Its incredible how people are under the impression with statistics pulled out of the air about being able to maintain a consistant profit...

"theres nowhere near 250k active posters here, thats everyone whos ever joined. 5% of say 1000 = 50 people, more likely 5% of 500 semi-regular posters = 25 people" Lol? Where on earth did you pull this statistic from? Incredible.

Dont get me wrong i`d love to hear from peoples experience of making a good living. Again please dont take me as an antagonistic person because thats not my intentions i just feel this thread SO FAR (as i havent given it a chance as of yet) is people posting based on wishful and hopeful thinking that there are quite a few on here who actually make a good living from it...

Need to re-think things through as im not arrogant nor proud enough to allow my wins to turn into me blowing my account like everyone else seems to do when they first start (ive been trading over 18 months)

Look forward to hearing your response... please stay on topic if you wouldnt mind (not cherry pick points out of my quotes - whether you agree or disagree)