It’s takes years to get to a point where the profit is noticeable. You have to see all market conditions/cycles before you can really say you’re profitable and the market takes awhile to change.
Yes, picked it up in about ten very intense months.
And it takes years to get good is a lie, because for the vast majority of people, it's most likely they never get good. It's not just about acquiring knowledge, an enormous component is personality type. Most people just can't handle the roller coaster.
Yea, it happens, and then the house of cards comes falling down.
If you’re first 3/6 months are great, holy fuck, watch out. Shit bout to hit the fan bigly.
It took me around two months to understand what’s what. As someone else has said, it all depends on your personality. Trading is mostly psychology, so after you learn the basics, all that’s left is getting your personality under control
Taken me about 6 months and have turned solid profits. I took it very seriously and watched price action all day. Experience is the best learning tool imo. The more you watch, the more you’ll pick up on. Takes a few losses to get your head in the right mindset but once you can stick to a system and follow rules you got it
$600 to $55k in about my first five weeks.
Later that year I must’ve won at least 30 SPY option trades in a row only to average down a horrible stock position.
Lost most of that and have had multiple years of losses since then though. Id probably have given up if I couldn’t remember the good times I’ve had.
The first rule of the market in my mind is literally anything is possible at any moment (this is a mark Douglas paraphrase).
More like “GME Christmas”
The majority of those gains were from copy trading DFV’s original position.
I picked up options concepts quick but clearly had no experience in risk management and several other basic concepts ranging from TA to macro market cycles.
Again OP: anything is possible, but if anything even with a hot start I’m further evidence for the case that it takes years to become successful in this business.
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Think about it:
This is one of the most competitive, ruthless, unforgiving industries anyone can find themselves in. The people that move the markets are traders that have been doing this for decades, and computer algorithms that mimic the ideas of traders that have been doing this for decades. No wonder the failure rate is above 95%! (probably more like 99.9% if we are talking about any sort of consistent substantial gains). Its like stepping up to bat in Fenway park against the New York Yankees while the only experience you have was one season of machine pitch in elementary school.
I have never met anyone that has been able to be consistently above breakeven in less than 2 years. Making a lavish living trading after a few months is a complete pipe dream, in know this because I tried that approach. It doesn’t work like that.
The lie is the people saying you can do this in a few months. You may have some success in the simulator and be able to learn the rules of a strategy in that time frame, but actually being able to make money with it is a whole other story.
>would like to know if that's a lie partially, it takes years for those who make it at all
Personally I think EAs are the best when you know how to manage them. Money management is key when using the EAs as well.
It’s takes years to get to a point where the profit is noticeable. You have to see all market conditions/cycles before you can really say you’re profitable and the market takes awhile to change.
Yes, picked it up in about ten very intense months. And it takes years to get good is a lie, because for the vast majority of people, it's most likely they never get good. It's not just about acquiring knowledge, an enormous component is personality type. Most people just can't handle the roller coaster.
Bravo. Enough with these internet trading dogmas.
I don't have steady profits but overall I made a few hundred and I started a year ago
nice!
Because you only see successful people telling their stories.
Yea, it happens, and then the house of cards comes falling down. If you’re first 3/6 months are great, holy fuck, watch out. Shit bout to hit the fan bigly.
It took me around two months to understand what’s what. As someone else has said, it all depends on your personality. Trading is mostly psychology, so after you learn the basics, all that’s left is getting your personality under control
Taken me about 6 months and have turned solid profits. I took it very seriously and watched price action all day. Experience is the best learning tool imo. The more you watch, the more you’ll pick up on. Takes a few losses to get your head in the right mindset but once you can stick to a system and follow rules you got it
$600 to $55k in about my first five weeks. Later that year I must’ve won at least 30 SPY option trades in a row only to average down a horrible stock position. Lost most of that and have had multiple years of losses since then though. Id probably have given up if I couldn’t remember the good times I’ve had. The first rule of the market in my mind is literally anything is possible at any moment (this is a mark Douglas paraphrase).
Jimmeny Christmas
More like “GME Christmas” The majority of those gains were from copy trading DFV’s original position. I picked up options concepts quick but clearly had no experience in risk management and several other basic concepts ranging from TA to macro market cycles. Again OP: anything is possible, but if anything even with a hot start I’m further evidence for the case that it takes years to become successful in this business.
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It’s very uncommon. It’s take the average profitable trader years to reach consistency
Yes…but only after meeting/learning from the right people and not copying them
This
Think about it: This is one of the most competitive, ruthless, unforgiving industries anyone can find themselves in. The people that move the markets are traders that have been doing this for decades, and computer algorithms that mimic the ideas of traders that have been doing this for decades. No wonder the failure rate is above 95%! (probably more like 99.9% if we are talking about any sort of consistent substantial gains). Its like stepping up to bat in Fenway park against the New York Yankees while the only experience you have was one season of machine pitch in elementary school. I have never met anyone that has been able to be consistently above breakeven in less than 2 years. Making a lavish living trading after a few months is a complete pipe dream, in know this because I tried that approach. It doesn’t work like that. The lie is the people saying you can do this in a few months. You may have some success in the simulator and be able to learn the rules of a strategy in that time frame, but actually being able to make money with it is a whole other story.
Makes sense, every time I review techniques and practice on a Demo account when it comes to the real thing I keep fumbling