We all start trading in markets for the desire of changing our lives, for the purpose of making money, buy things that hardly we could afford otherwise, help and provide our family. We all look at traders that show their success, that hold conferences, meetings that show themselves as extremely successful.
The majority of them, put in front of a monitor with a new account would hardly get to profitable if not blow the account.
Dynamics of trading changed, each year or couple of years we have a reset of how the market moves: this due to algos and new computerized MM that get to know and evolve against our human behaviour.
We are studied and machines are outperforming us.
The street or better the career of a trader is nowadays harder then ever.
A trader needs the real tools, the real knowledge and needs to learn what really works for him.
Many good short sellers around that hardly could take longs and vice versa and there s no guilt in this. There s no blame. Each one trades differently, each one follows different things.
In my opinion what made me continue trading still today after almost 20 yrs while I was losing my eye sight in front of monitors is the spirit of adapting to new evolving market structures and the love for it.
You have to be able to figure out what the market is doing, how it’ s changing, if basically long/short term trends hold or fail, if stocks tend to gap and fade all the way down or reverse and trap.
Analyse what other don’t do, track what others won’t do. Your job is being above of the mass of traders and till you ‘ll just stand and wait for someone to do your job, you will be always late and not earn.
We are here to make profits, to build the account, to make a living, to retire from a boring job.
But if you want to have all this you must ASSUME YOUR RISK! Exactly these words: success is not a straight line, success has risks. Nothing is guaranteed, the risk in trading of losing money is there.
So what to do?
Before trading full time you should be making consistent profits for at least 1 year, having a successful strategy, having a good self discipline and then and only then move to a full time trading. Whenever your background is, your family situation is, you have a commitment and you cannot lose time doing a job that is keeping you away from trading. But you must know when this time of changing comes.
Again ASSUME YOUR RISK.
Trading can give you things in life you would never expect but this does not mean only money, success, a living, this involves also stress, panic, fear, nights without sleep.
This is part of the game. This is what I had.
How many nites didn’t want to see anyone after a big loss, how many nites we had thoughts filling our minds after being stubborn, how many nites we wanted to become that’ successful.
It takes times, it cannot take months, it takes years.
Choosing trading does not mean to stop quitting your job tomorrow with a family on your shoulders, this does not mean to quit your studies for an idea. This means to work for that day that you will be able to spot the right trades and prove to yourself you are being successful in trading.
The best traders have nothing to lose, why?
They have assumed the risk. They know it, they have already absorbed it. This makes you trade with confidence, without panic.
It may seem strange to you, but basically you have to trade as you are not attached to your money or to your savings. A strategy, money management, self discipline won t work if you will trade with fear. Get emotions away, learn each day, process takes time like building an account.