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Obsidian

When Did You Start Trading?

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futures floor as operator 1992

Equity options 1993-2000

Stocks, options and futures 2000- present

Added FX, more futures and less stocks approx 2008

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2009 - dropped 50K in the market near the March low. Was fired from my job during a downsizing, and used the profits to start a career as a trader (not quite that simple):

 

Lost money in the first nine months (how can one loose money in an up market?...I did it.). Year two was better, but with a few doubtful moments. Year three... it's been good so far.

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1980.. went into the business - just in time for the Hunt Silver crises. Wanted to buy a seat. Couldn't afford it. Became a broker, then a CTA.. Managed $ for firms and then my own.. became consultant to banks, etc. Became financial analyst, blah, blah..

 

One of Peter Steidlmeir's early Market Profile students... couldn't do a %$&^ thing with it..

 

Worked with George Lane the inventor of Stochastics. Had an Apple 1 computer - high tech #%^&. Searched for the Holy Grail - thought it was indicators and oscillators - not.:doh:

 

Bought every system, software, gadget, book, pipe dream... can't remember... invented indicators..thought many times that I had found the key but no, I didn't. Did system design & testing..watched good ideas fall apart in real-time... was a pioneer and got arrows in my back.

 

Best thing I ever learned: Classical bar charting. The next thing..years of screen time...

 

Most important lessons learned:

 

Set Ups least important. (where most put 90% of their effort)

Mental Aspect the biggest obstacle.

Daily Trade Plan

Money Management/Trade Management/Risk Management

Scaling To Reduce risk.

Simple beats complex.Become a minimalist.

There is no right in trading only "right" execution.

The next trade is a coin-toss. 50/50 at best. The edge shows up but only when you consistently execute your edge.

Do not keep changing what you do otherwise you create randomness.

Plan your trades, execute mechanically when your setup shows up.

Capitalization is key. You need to trade at least a 2 lot and 3 lot should be the minimum if you are a daytrader so you can scale and layoff risk..

 

If you can get to a risk neutral position then you can let the market do it's thing...

 

Remember , you are trading in the Superbowl and you are going up against the best in the World... figure out where you are on the financial food chain and then make sure that you are not on the bottom... :2c:

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How long have you been trading?

 

I started around 1999-2k, traded stocks till 2003

then discovered forex, trading forex since that time

 

I started trading around year 2000. I've tried a lot of copiers before I have Tradecopier dot com. I make it a point that I test demo accounts so I can try new strategies. Up to this time, I have demo account aside from having more than 100 live accounts. It's for me to lessen up risk by using demo accounts first before using it on live.

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It's hard to say.

If by progress you mean making profit, than the progress has been slim...

But if by progress you mean finding the right MT4 tool, understanding how all this works, feel a lot more confident looking at charts and everything... than yes, progress has been made!

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How long have you been trading?

 

I started around 1999-2k, traded stocks till 2003

then discovered forex, trading forex since that time

 

Hi man, you are trading much long time. I started forex trading in February, 2011. So I have only two years of experience. I am new in this forum. It is great to have such an experienced forum member like you in this forum.

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traded for a bit last year, only made 3 trades before i had to use my trading money for a speeding ticket and textbooks hah. taking next semester off to save up 10k and will be trading immediately once the money is had. stocks only, trying to learn forex too but not enough time with school in the way.

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Hi guys:

 

I started trading in the forex market for about over a year ago, during which time I have learned a lot of the market but I still consider i'm a newbie, i learn daily from the forex market.

 

There are lots of teachers in the forex markets. Trading lessons cost money. No way around that.

 

Good Luck

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There are lots of teachers in the forex markets. Trading lessons cost money. No way around that.

 

Good Luck

 

 

Yes. I actually heard a good analogy about that today. A Mechanic does not fix your car for free

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Yes. I actually heard a good analogy about that today. A Mechanic does not fix your car for free

 

My favorite, pour salt in the wound, phrase while I am pridefully scooping in a pot in the poker room at Foxwoods is "Poker lessons cost money".

 

I was victimized by the phrase at one time too.

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I have started trading around 5 years ago and gained much knowledge about Forex Trading first. Initially I didn't earned much through my brokers but as and when I have started trading with my current broker I have earned a lot and I am still trading and making money through my current broker.

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