How did trading change your life?
Page 1 of 503 123 LastLast
Results 1 to 10 of 21

Thread: How did trading change your life?

  1. #1
    It passed three years because I started trading and eventually I can call myself a trader, I am not full time I am not a guru, but I am earning (small ) money day after day with my daytrading doctrine and pretty big money with my long-term doctrine (see: doctrine not egy).
    Those 3 decades fully changed my life, I could say that I am awaken after a huge sleep (Anthony DeMello words), in the beginning I felt lost, I did not know anymore who was, all my certainty collapse just like a newspaper wall. Each of the icon that I was after kindly today where revealing for what they were: nothing totally hollow. Targets for my life were in order:
    1) find a good job (so I could make cash )
    2) earning excellent money (so I could cover large villa, luxury automobiles, have money for myself and my family, college insurance, ecc...)
    3) marry child/family
    4) dying happy with nephew.
    My life story might have been used to get an advertisement on TV.
    I was on this road, took a dentist diploma, beginning to make good dollars, with a beautiful girlfriend (that I will marry on july ), already bought a wonderful car and looking out for my dream home.
    But then one day I went on yahoo fund opened a demo account bought 1000#8364; stocks (do not recall which company, I think google) only to find out a 60-70% profit three days after, wow fantastic!! I wondered why in the hell I am not doing it everyday? . So I discovered forex, forum, several fancy indior egy who worked for 1 week and then no more; analyzed hours and hours following job, I recall going at bed at 5 AM waking up at 8 AM working all day long, did that numerous times. But if my efforts where enormous I was consistently.... Losing money. .
    Then one afternoon (again) about a year and a half ago I started to think: let us stop those BS price does not move because support resistance ecc... they move randomly!! Therefore I totally changed my perspective about trading and I started to trade in my way, yes, so I do not have a egy, I do not have a plan, I have 1 rule: Stop Loss that is it. There are times where I feel nostalgic so I place my Sl in 30-40 pips and try to TP in 10-15 pips, other days where I place a 10 SL and I wait 100-200 pips profit, my long-term egy is more or less similar to this: place a little SL 100 pips and then wait for 2-3 weeks (I will wait 5-10 decades, but I am not able to get it done, I fight waiting a lot ).
    Stated that I do not mean to say that technical analysis is garbage, I mean that it wasn't great for me! I couldn't earn money with those rules that are fixed, now that I am free I have only one rule: stop loss, stop loss, stop reduction again.
    The truth is this: I am conscious about what I am doing, my mind tells me what to do everyday, so it does not take effort trading, so it's not stressing.

    Ok, let's go back to the query:
    In my instance trading set me I broke all of the mental chains I had, I stopped to hear others (my favorites; an icon might be your father or mother) and I started to live my life, doing what I like, I nearly stopped to function as a dental practitioner (not in all, I do not have much cash ).
    I started to follow my dre, sometimes I pass my days doing nothing, just reading books and taking long walks at the park with my dog. And you know what? I DON'T FEEL GUILTY, once doing nothing for 3 hours will be meant to feel guilty for the rest of the day.

    More has to come, (the negative impact trading had in my entire life ) it's very difficult to explain those feelings since they aren't completely apparent, in my thoughts, sometimes I grasp among them, I try to write it, but then I realize it is to cloudy to explain it.

    I have a lot to say so stay tuned if you like!!

    Leave your experience that is the purpose of this log!!

    And tell me what you like/dislike, about what I am saying, I would like to Begin a considerate debate on the subject, my Aim is to learn from you, in your expertise while telling mine

  2. #2
    Ok now think about this:
    Livermore is still regarded as a legend even if he dropped his trousers over last time that he lost all his money that he decides to loose his own life also. Folks looks at Livermore as a legend but wouldn#8217;t trade like him, I think people isn#8217;t actually concerned about his trading egy.
    Let#8217;s say Livermore in the very top of the achievement stops trading, what will be the results? He'd live his whole life as millionaire, surrounded by people asking him how to exchange, he didn#8217;t changed his way of trading, he simply stopped while in the cash.
    If you want to earn 1 million in 1k working with a averaging down egy, do it! But be conscious you#8217;re probably gonna eliminate this 1k, if you will be very fortunate you#8217;ll retire with just 1 million into your pocket.
    At the same time you can beat the casino, with roulette. Bet 1#8364; in a time and if you acquire martingale it! In the event you win 19 times in a row you#8217;ll win 524.287#8364;, you opt to don#8217;t drink a coffee a day to make half million dollar. Clearly if you would like to beat the casino everyday for your whole life with that egy, well, probably you#8217;ll be a loser. . .But if you're going to be not greedy, you#8217;ll have the ability to stop with over a half an hour. 500K are too few??! Wager 10#8364; a day and you#8217;ll get 5 million.
    You know what? It#8217;s tough to lose 1#8364;/10#8364; a day for a decade in a row, here plogy kicks in, can you handle to bleed money everyday from your wallet, without understanding if you#8217;ll ever win a few?
    Now all of the border traders will say: #8220;ah you've got to wager, because you don#8217;t have an edge#8221; now look at fund managers statistics, the majority of them will not reach 10 decades, losing ALL their (and their clients) cash. But they don#8217;t wager!! They absolutely know what they're doingthey take trading seriously.
    While they blow up, telling you how you can trade, you're still there gambling 1#8364; in a time, you#8217;ll never go bankrupt, you#8217;ll never get too much stressed, in the end you've got good opportunity to make money...

  3. #3
    Quote Originally Posted by ;
    Ok now think about this:
    Livermore is still regarded as a legend even when he lost his pants more than once, last time he lost his money he decides to loose his life also. Folks looks at Livermore as a legend but would not trade , I believe people is not really concerned about his trading egy.
    Let's say Livermore at the top of his achievement stops trading, what will be the results? He would live his whole lifetime as millionaire, surrounded by people asking him how to trade, he did not altered his manner of tradinghe simply stopped while at the...
    nicely, if you wan na t see trading like gambling, then do so. In my view trading could be more than simply gambling.
    For me personally trading is like the insurance industry: e.g. they understand that from 100.000 people who are 60 years old, 5 people will perish on average every year. Then they compute the insurance premium for having the ability to cover the 5 people. It is the large numbers they are quite certain of. If you ask them, that will die this year, they do not understand, they simply know that on average it is 5 people.
    When we put that into context of trading, then each trade has an uncertain outcome (we do not know which one will win or lose), but within a couple of million or tenthousand transactions we could determine an almost positive outcome, be it negative or positive.
    The more transactions you take, the less you're relying on luck, but on ice-cold statistics.
    So, if you wan na t rely solely on luck, then take only a few transactions or so and hope you're lucky. If you however take quite a lot of transactions, then there isn't any luck , but hard statistics. Then you know in case you've got a favorable or negative expectancy.

    Same goes with roulette, perhaps you're lucky within the subsequent 20 rounds. But you can not stay lucky over 10,000 or more rounds. Statistics will kick in and cancel out the luck you had.

    But anyways, just my view. Maybe I'm wrong about that.

  4. #4

  5. #5
    Quote Originally Posted by ;
    well, if you wan na t see trading such as gambling, then do so. In my view trading could be more than mere gambling.
    For me personally trading is similar to the insurance industry: e.g. they know that from 100.000 individuals who are 60 years old, 5 individuals will die on average every year. Then they calculate the insurance premium for having the ability to pay out the 5 individuals. It's the big numbers they're quite certain of. If you ask them, who can die this season, they do not know, they just know that on average it is 5 people.
    If we put that into context of trading, then each trade...
    This really is a Really good stage (I love this guy! ) .
    But let's think again that edge traders are just blessed, (so try to comprehend my point of view). You run your insurance, and let's say you're an italian one, a war occur, what happens to all of your statistics? Isn't it such as relying on MACD? When things changes or even? So how can you know you're wrong?
    When you talk about significance, do you mean conducting a worldwide insurance? So if italy is into a war, then you'll shed your italian one, but you'll be able to recover with the others? But then again, if a world war happens?

    I believe borders exists in the market, they aren't easy to find, but they exist.
    I also think that many managers are too much glued to their borders, and when you do this you aren't able to change your mind quickly enough to survive.

    So I believe an edge solely isn't sufficient, you also need to see that luck is much involved, this doesn't mean that you found your edge since you're fortunate, but you would be blessed if your edge will last forever.
    Again plogy (for me) is concerned, be ready to observe all your beliefs crushed by a tsunamy, it might happen and you have to be plogically ready for it.

    For me personally you can still make money with a very straightforward egy, relying just on luck, and your mind. However, you can not make money (even though statistically, your likelihood are much better ) if you solely rely on an edge (remember most MM loose cash ), you have to confront bad times, together with awful times I do not mean to confront DrawDowns, I mean when your edge will not work anymore, in other words, even when a WW starts!!

    P.s when I say , I must write we because I do not have THE ANSWER!

  6. #6
    Quote Originally Posted by ;
    it made me a computer servant
    yeah, I understand soap opera in comparison to us, are nothing!!!

  7. #7
    Hey I like this discussion (Beman-)!
    You guys both have arguments that make sense (at least to me) and I can realy understand both of your perspectives.
    Life is a funny thing isn't it. . .it reveals again and again that we all have our own different realities. I simply hate if someone says to me something is impossible because I know it just means that it is impossible for him, it is simply not in his truth.
    I am affraid you men won't convince one another, but conversation is alwasy great and we can all learn alot,especialy relatively now man just like me
    Therefore thanks,it's been fun to read...

  8. #8
    Quote Originally Posted by ;
    This is an excellent point (I love that man!) .
    But let us think again that border traders are simply lucky, (so try to comprehend my point of view). You run your insurance, and let's say you are an italian one, a war happen, what happens to all of your figures? Is not it such as relying on MACD? When things changes, your statistics lags, or not? Thus how do you know you are mistaken?
    When you discuss correlation, do you mean conducting a worldwide insurance? If italy is into a war, then you'll lose your italian one, but you'll have the ability to recover...
    hm, let us discuss diversifiion (not correlation ). Yes, that which could fail at the exact same time, but I am just talking in terms of probabilities. In case you've got multiple good egies based on multiple tools, then the probability is very low that this event happens. Of course it might happen, but the probability is very low.

    From what I know, most funds need to devote to ONE egy, and that is the underlying problem of funds. They could diversify the tools, but not the egies used. (Please correct me if I am wrong, but I believe that is how it is from the fund industry.)

    And yes, you are right, it's not possible to know beforehand, once an edge starts to fail. Best example:
    read the last article of this site.

    As soon as you realize it, you're already deep in the red likely, but concerning probability it's pretty hard for MULTIPLE edges to fail at the same time. That is the reason why I think it's important to first of all have a few independent edges for multiple tools and use them for diversifiion purposes. I think diversifiion is really one of the few methods that actually can reduce risk. Maybe not a lot of individuals on ff discuss diversifiion for some reason.

    Nicely, and also a personal story about me. My personal beliefs are crushed many many times . But once I started thinking like a scientist or researcher and began looking at the market through analytics, I could establish more objective beliefs that haven't failed me. . .YET

    For a few trading is artwork, for a few it is mathematics (and for a few it is luck ). I am anyways a more analytical individual, that is why I instead rely on scientific methods.
    If I thought trading was only based on luck, then I preferably would go to the casino. The atmosphere there's more thrilling.

  9. #9

  10. #10
    U rock man thaT WAS amusing as

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
This website uses cookies
We use cookies to store session information to facilitate remembering your login information, to allow you to save website preferences, to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners more information