Newbies Mistakes -
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thread: Newbies Mistakes

  1. #11
    aerendil22
    Guest
    Hello PF, I'm glad to see full time trading functioning for you! As a general fact, that which I could see is that being a complete time trader isn't simple in any respect! Supposing this TE was the only account of the trader, looking at this calendar year, now we're in May and the profit starts to arrive now, many invoices already did ... Good luck on your journey, your time in keeping this journal, and not only that, is highly valued!
    Hello aa4fx,

    True everything you say, but then there is few details to consider also.

    This TE only carries 20 percent of my overall equity currently. With more equity available more flexibility could be utilized...a crude example: a simple martingale has a lot better survival chance of same lot sizes on 50k compared to 10k....even 2x bigger lot sizes. Straightforward more space to handle the losses. Of course I'm not trading simple martingale!

    To make hay while the sun shines....
    If trade full time, make sure when you're doing strong performance you supply for the leaner/loser months.
    This TE acct. Has made 137 percent last year (myfxbook). Really what it does not show an equal amount of 90 percent of total deposits currently withdrawn from it.
    My personal acct. Work on similar principles. When the target trading equity facet is reached ( I wrote about this in few posts across the journal that which I consider as a essential equity side to have the likely profits cover my invoices and lifestyle), it becomes even simpler with the balancing of acct., involving some sort of compounding and the withdrawals as private salary.
    Just recently mentioned I withdraw some of the profits in my acct to some sub acct, that alone able to cover 2 months living costs.

    Prop as extra income.
    While I cut back a lot on prop trading from March, involving a Sept2017-March2018 prop earnings alone could cover my living costs.
    That subsequently helped me a lot, let to compound my own private profits without withdrawing.
    That resulted in the point at which private equity obtained to a level I can comfy rely even as only course.

    Stand on more than One leg.
    Whilst trading is the complete time and main income (private and/or prop), I have some small side income from stocks dividend, and other interest income. While this year under plays some, the dividend is a cashflow if needed.
    Additionally once in a while I have other odd incomes, which not sum much, but add to the bottom line a little here and there. It's true that every little count.

    Don't enlarge on expenses and lifestyle if there is no secure means to achieve that. I delayed a trip back to Hungary, not in need right now to upgrade the vehicle, have enough to not starve if a black swan comes around. At least for a while. An individual can simply be ready so much. But without taking this leap of faith to the anonymous of full-time trading, I would never understand what it's like.
    Considering everything, income, work hours, flexibility, the quality of my entire life...I never have regrets making this jump.

    If at all possible, do not burn all bridges.
    After a year of full-time trading my old job still would be available for me on a comparative short note. I made it in good terms, and I was good enough and experienced enough inside that they'd be delighted to take me. Though I see my future without it, it's a comforting notion that if the roof falls in on me I may have an alternate.
    But it's an alternative that instead holding me back out of trading, is quite motivating to be successful at.
    I labored at sea long hours, 300 hours. Far from loved ones, and much from existence as most knows it in land. A good 15 years was enough to willingly enslave myself.
    It's a potential choice, yes, but an option I do not like to rely on!


    A closing note:
    I decided on full-time trading since - on mid time horizon- I really could envision making equal or better income compared to my last job, with probably lot less hours input.
    Thus far this came true, and on average I have better income, and less than half the work.
    However full-time trading is a living, but I did not became a millionaire, and maybe never will. But nor would be out of my past job!!
    I don't have any idea what the future will bring, but pleased with the present, and optimistic about the possibilities.

    Happy trading!

  2. #12
    Junior Member JulietaWhite's Avatar
    20
    I think that there are lots of these kind of traders also. Of course their portion is less than regular ones, but afterall this world also bears it's fruit and decent profit.

  3. #13
    quote you survived the collapse phase? Pleased to see youpersonally,please share your story.
    I mean that this is currently is a snap shot. All you need to do is revisit this track record some time in the future... Usually, you'll find that it's no longer performing this well.
    So that was subsequently (if it was winning) becomes the this is currently (it is shedding)
    and of course the opposite will occur too.
    It means that a track record is absolutely meaningless since the wheel of fortune turns and turns in a somewhat arbitrary and annoying manner

  4. #14
    quote The that-was-then and this-is-now evidence will always be considerably more powerful than only the this-is-now evidence.
    You lived the collapse phase? Happy to see you,please share your own story.

  5. #15
    Senior Member Tataylo's Avatar
    435
    It#8217;s almost reached the stage at which statement could read accurate for the entire forum. .... This place is now the trading equivalent of a Philip K Dick novel - interesting reading but probably to piss you off.
    Totally agree, though it generally takes over just a few anonymous strangers to knock me off. I don't take too much of what's said seriously any longer.

    I believe the Eleanor Roosevelt quote (great minds discuss ideas.... Small minds discuss people) is very apposite for trading forums.
    ___________________________

    This excel statement, in its current form, is no legal evidence for a prosperous retail trader and you understand exactly why.
    Well I certainly will not be killing the account just to demone some anonymous strangers the money is real! And of course when I did, there would not be a way of offering evidence that is valid given that apps like photoshop allow pictures to be easily faked -- that any withdrawal was bona fide. My assurance comes primarily from knowing their approach as I suggested previously; the outcomes are secondary. I'm happy to simply leave you to your own skepticism.

    I doubt that it's easily feasible to prove -- or disprove -- proficiency objectively, in any instance. Personally, I favor qualitative proof -- a demo of how a specified 'border' exploits current market microstructure, such as -- to quantitative proof, because (as illued here), it's very simple to be 'fooled by randomness'; and there'll always be outliers, plus a margin for error, in which statistics are concerned. Whether the retail failure rate is 90%, or 95 percent, or 99.9999% doesn't concern me ; I merely sit here on the sidelines as a sometime hobbyist, but most of all a curious observer.

    Many thanks to the discussion. I appreciate the time and effort that went to your replies. If I might say so -- as I'm capable and that I attempt to do so with as much sincerity and humility -- I rate your ability to construct a substantive and sensible argument as being before that of the 'usual suspects'. Much respect, and great dre.

    David

  6. #16
    Crucial Point I Think.

  7. #17
    Junior Member samufd's Avatar
    23
    mr , when will you do new video? I watched your movie on youtube but it almost a year and I cant get the indior
    those videos were just testing systems. I do not exchange those systems with cash

  8. #18
    Junior Member alexandrasanz's Avatar
    23
    mr sharingan9, when will you do new video? I watched your movie on youtube but it nearly a year and I cant get the indior

  9. #19
    Junior Member samufd's Avatar
    23
    What are the criteria to judge someone success??? I dropped my account in 3 weeks, is this success??
    I would say at least year's equity curve to Show at least on some level your egy can prove profitable through all 4 quarters of the year

  10. #20
    What should be the criteria to judge somebody success???
    I dropped my LIVE account in three weeks, is this achievement??

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