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Mysticforex

Is Trading What You Expected?

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Are you getting out of trading what you had hoped for/ expected?

 

What were you looking for:

Replace your full time job?

Supplement your income a bit?

The freedom to be able to work from just about anywhere?

To work at something you find mentally stimulating?

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Are you getting out of trading what you had hoped for/ expected?

 

What were you looking for:

Replace your full time job?

Supplement your income a bit?

The freedom to be able to work from just about anywhere?

To work at something you find mentally stimulating?

 

I like the freedom, its mentally stimulating...but i've yet replace the income from my previous job.

 

Its much much more difficult than i imagined, and more difficult than swing trading stocks.

 

I've learned allot about myself though, and also what style of trading really suits my personality.

 

This is a humbling experience.

 

XS

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What were you looking for:

Replace your full time job?

Supplement your income a bit?

The freedom to be able to work from just about anywhere?

To work at something you find mentally stimulating?

 

A: Fell into it early on and it became a career by default luckily for me at the time

 

Would I recommend it to most people - no

Why - unless adequately capitalised it is difficult to make an income

Most will fail - those that make it are generally incredibly focused and this can be exhausting

While it can be mentally stimulating, it can also be incredibly frustrating, mentally exhausting and downright depressing

Freedom is a state of mind and the reality is you really generally only give up a commute. You also generally give up, teamwork, conversations, social networking, a sense of belonging.....etc; etc; The idea of trade from your cafe/mobile/bathtub - --- rubbish. :2c:

 

Everything is a trade off and the BS about this being a sexy, exciting fast paced high energy pastime for most home traders is crap.

 

(now this may be different depenant on styles, workplace etc and I know and see others for whom it does work;;;; but for most my guess is that reality is different ---- I must be in either a bad mood today, or a fantastic mood ripe for reality)

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What were you looking for:

Replace your full time job?

Supplement your income a bit?

The freedom to be able to work from just about anywhere?

To work at something you find mentally stimulating?

 

A: Fell into it early on and it became a career by default luckily for me at the time

 

Would I recommend it to most people - no

Why - unless adequately capitalised it is difficult to make an income

Most will fail - those that make it are generally incredibly focused and this can be exhausting

While it can be mentally stimulating, it can also be incredibly frustrating, mentally exhausting and downright depressing

Freedom is a state of mind and the reality is you really generally only give up a commute. You also generally give up, teamwork, conversations, social networking, a sense of belonging.....etc; etc; The idea of trade from your cafe/mobile/bathtub - --- rubbish. :2c:

 

Everything is a trade off and the BS about this being a sexy, exciting fast paced high energy pastime for most home traders is crap.

 

(now this may be different depenant on styles, workplace etc and I know and see others for whom it does work;;;; but for most my guess is that reality is different ---- I must be in either a bad mood today, or a fantastic mood ripe for reality)

 

SUIYA,

 

Screen trading is far less stressful, mentally exhausting, etc than many other vocations. It is definitely more stressful than, perhaps, an hourly position as a cashier, though that might be pretty stressful, dependent on the neighborhood the store is in. Lately, I have been actually finding trading to be relaxing. No joke and just my opinion, of course.

 

MM

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SUIYA,

 

Screen trading is far less stressful, mentally exhausting, etc than many other vocations. It is definitely more stressful than, perhaps, an hourly position as a cashier, though that might be pretty stressful, dependent on the neighborhood the store is in. Lately, I have been actually finding trading to be relaxing. No joke and just my opinion, of course.

 

MM

 

absolutely MM - however for most this is not the case. I dont think their realities live up to their expectations.

(Lately mine has been frustrating more through automated building/testing and realising my expectations are not being met - I am trying to get too much out of things I think --- always bad for expectations :( ----- otherwise so glad you are having fun )

 

Plus how many cashiers have people telling them, this will make you a better person, deal with the fear !! :rofl:

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One other thing that i didn't expect would be that difficult for me was the amount of software and hardware troubleshooting you have to do. It seems i always have a problem of some sort...either F***** data, connection, software, hardware...its always something. Today i rewrote all my DAX tick data into different time-frames just so i would know it was all done properly as i started to get strange anomalies on my charts after testing. :doh:

 

Other things like not getting a strat to work on a multi time frame chart in NT. Bloody frustrating and with almost all my support coming from email or forums, because of the time difference, its slow tedious work!:pc guru:

 

Running a factory was a million times easier than this crap. It better pay off one day or i'll be tossing all of this gear in the lake across the road and enjoying watching it sink to the bottom!!

 

:angry:XS

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I love everything about the game, and learned to respect the market. It is the hardest game you will ever play. I learned that losses are part of the game and sticking to rules and money management keeps you in the game. I love being tested and judged by the emotions of other traders. The beautiful part about trading is there are many ways to trade the market. If trading was not meeting my expectations, I would take some time to re-evaluate my trading and business plan.

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One other thing that i didn't expect would be that difficult for me was the amount of software and hardware troubleshooting you have to do. It seems i always have a problem of some sort...either F***** data, connection, software, hardware...its always something. Today i rewrote all my DAX tick data into different time-frames just so i would know it was all done properly as i started to get strange anomalies on my charts after testing. :doh:

 

After doing this for a while and gaining comfort with hardware and software, it should run as smooth as silk on a day-to-day basis. Maintenance will come on the weekends. I see you are using NT; that's your first hurdle in terms of stability and reliability (I use NT for order routing only these days). Where is your data coming from?

 

Once you find the tools you really love, and you get to know them in and out, then those little issues will become quite small as you will be prepared for them.

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I'm not a gambler or bettor, I'm a speculator. I enjoy the focus and a trade unfolding according to plan. If the markets did not exist I think I would probably be an air traffic controlman because a job like that forces you to be in the zone.

 

Disipline of a machine

 

Reflexes of a fox

 

Emotions of a rock

 

Skills of a surgeon

 

Patience of a saint

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After doing this for a while and gaining comfort with hardware and software, it should run as smooth as silk on a day-to-day basis. Maintenance will come on the weekends. I see you are using NT; that's your first hurdle in terms of stability and reliability (I use NT for order routing only these days). Where is your data coming from?

 

Once you find the tools you really love, and you get to know them in and out, then those little issues will become quite small as you will be prepared for them.

 

I am still using NT but i am making the switch to MultiCharts now because i am also learning to use Easy Language. My data is eSignal, and i use IB as my broker.

 

NT has really given me, and continues to give allot headaches. Stability and reliability are only the beginning. MultiCharts is really easy compared to NT. The support for NT is very helpful though. They've got that part nailed down.

 

XS

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As a beginner I am finding it is harder than it looks, but I do know that sticking to my trade plan and being patient for the high percentages trades is what will make or break profitability. I think once I am making consistant income then I would love to take my laptop and travel and trade! that for me is the ultimate lifestyle..

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I am still using NT but i am making the switch to MultiCharts now because i am also learning to use Easy Language. My data is eSignal, and i use IB as my broker.

 

NT has really given me, and continues to give allot headaches. Stability and reliability are only the beginning. MultiCharts is really easy compared to NT. The support for NT is very helpful though. They've got that part nailed down.

 

XS

 

Hi Xiao. I m also with IB and i have developed a platform which i am also distributing free (a working project). Take a look a it. I think it's pretty stable and reliable and might solve some of your headaches: my IB platform

 

Then let me know if you found it useful and, especially, if you have suggestions for further improvements for the project. This will allow both discretionary and automated trading.

 

T

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Hi Xiao. I m also with IB and i have developed a platform which i am also distributing free (a working project). Take a look a it. I think it's pretty stable and reliable and might solve some of your headaches: my IB platform

 

Then let me know if you found it useful and, especially, if you have suggestions for further improvements for the project. This will allow both discretionary and automated trading.

 

T

 

Thanks Tommaso, looks quite promising. Do you have an extended test results?

 

Personally i am interested in developing my own systems. To me, i then have ownership and i fully trust their potential as i have put the time in, and experienced the tested results and behavior during draw-downs etc.

 

Perhaps when you have the capital you can trade it yourself or market it. Maybe a big hedge fund will pick it and you can retire to the islands!

 

Thanks just the same, and good luck.

 

XS

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Thanks Tommaso, looks quite promising. Do you have an extended test results?

 

Personally i am interested in developing my own systems. To me, i then have ownership and i fully trust their potential as i have put the time in, and experienced the tested results and behavior during draw-downs etc.

 

Perhaps when you have the capital you can trade it yourself or market it. Maybe a big hedge fund will pick it and you can retire to the islands!

 

Thanks just the same, and good luck.

 

XS

 

Hi Xiao,

 

yes i real trade with it, and so do some of my users/friends (which include large funds too).

 

I am not so fool as to make public claims about my income, but i let anyone interested to freely try the plaform on their machines for as long as they wish. Diligent traders have to be able to take their own determinations, based on their capital and intelligence :-)

 

I dont even need to "retire", as i don't consider this work, but pure fun.

 

You are right, if you are intelligent, you love coding and have a lot of time at your disposal, the best way is certainly to develop your own system. It's a full time commitment though, so it requires real passion and love. ;-))

 

Tom

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Hi Xiao,

 

It's a full time commitment though, so it requires real passion and love. ;-))

 

Tom

 

I friend of mine recently told his son regarding the choice of a career, "find something you love to do and you'll never work another day in your life....."

 

So true...my only two regrets on this subject:

 

1.) not knowing what i wanted to do earlier in life

2.) not acting on that sooner, after i found out

 

Cheers,

 

 

XS

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I didn't know what to expect..

 

When I was 14yrs old I hung out in Stock Brokerage offices during Summer Vacation and Spring Break... I read the WSJ riding the subway in NYC going to grammer school... that is how it started for me..

 

It was the only way I knew, as a kid, to accumulate wealth..that is when my interest started...

 

HOWEVER, the reality is quite different than the fantasy... If you were to ask an experienced trader what this business is like I don't think it could be adequately explained or even relatable...it is fantasy vs reality...

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I didn't know what to expect..

 

When I was 14yrs old I hung out in Stock Brokerage offices during Summer Vacation and Spring Break... I read the WSJ riding the subway in NYC going to grammer school... that is how it started for me..

 

BTW Roztom, I spent my first 15 years living on West End Ave, between 84th and 85th sts.

where were you?

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BTW Roztom, I spent my first 15 years living on West End Ave, between 84th and 85th sts.

where were you?

 

I lived in BayRidge.. 4th Ave betw 84th & 85th St..

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Are you getting out of trading what you had hoped for/ expected?

 

What were you looking for:

Replace your full time job?

Supplement your income a bit?

The freedom to be able to work from just about anywhere?

To work at something you find mentally stimulating?

 

Replacing a full-time job was my first motive why I've entered this endeavor.

 

But trading offers me many other things which I have summarized in the very first part of my business plan, under "Motivation". I've divided it into 2 sections, motivation towards things and motivation away from things. It is in part repetitive, but I've kept some items on both sides as they are so important to me.

 

Motivation towards:

 

- Being able to fulfill my potential/Doing what fits my personality best

- Personal and financial independence (making a living), being able to control my life

- Seeing the family on a weekly basis

- Being able to build and keep a social network (I had no time for this in my former job...)

 

Motivation away from:

 

- Being controlled by others

- Stress (rushing from meeting to meeting, lots of traveling)

- Getting out of shape (bad eating habits, less/no sports)

- Letting others stand in my way (relates to fulfilling my potential)

 

And I'm getting all of the positive things above from trading and avoid the negative things. So, I'm quite happy about it. But keep in mind that these points refer to MY life situation as I had it before I've started with trading. Hence, it is very individual and relative.

 

Of course, trading is stressful like someone mentioned, sometimes VERY stressful. But you can not have everything at once in life. You have to pay a price for everything...

 

But I don't like the discussion of what's more stressful... it depends very much on each individual situation. Trading stress for me is a different kind of stress than what I have experienced in the corporate world. But I would say that my overall stress level decreased enormously as the major stress came from not being able to see friends and family on a regular basis.

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Good discussion, especially for beginners as they r always looking for this answer...

 

As they say not every fbi agent has life like 007 .... Not every trader end up being rich. In fact, most end up loosing most of their investment.

 

I love trading and it is like true passion for me. Yes, i ha e lost money and spent many months bei g fustrated until i study in this field. I read many books and devloped my own technique to find trades....

 

In reality once you have your simple method setup. Trading can be a real fun. As long as u live in reality and aware about market dynamics..u will do good

 

I dont do this fulltime but this is my fun parttime job. May be one day i will work in this field then will think about working on my own

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