- Joined
- 2 August 2014
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Hahaha - Yeh, been there done that. Dreaming of the day I turn a profit from making a proper projection instead of just lucking it out, over-leveraged and at the mercy of the market.
Keep Calm and Go 8alls deep!
Hahaha - Yeh, been there done that. Dreaming of the day I turn a profit from making a proper projection instead of just lucking it out, over-leveraged and at the mercy of the market.
Hahaha - Yeh, been there done that. Dreaming of the day I turn a profit from making a proper projection instead of just lucking it out, over-leveraged and at the mercy of the market.
As tech said, find one thing to do well, master it and then move on to the next thing. I started out with mechanical share trading systems I developed in Amibroker and then branched into day trading index futures, beginning with the Kospi, then once I'd gotten consistent with that I added the SPI, then the FESX and now working on the ES.
I've helped others out here with some basic mechanical systems, from short-term daily systems to retirees looking for weekly systems to complement their super. Happy to offer any basic advice on setting up Amibroker and how to go about building a mechanical trading system to suit your trading style.
On top of that I was thinking, now what? Do I go back and try to find a job and become an ordinary civilian again stuck in this system. When your at the brink of failure all your emotions are so intense.
... I also felt guilty for losing the money my parents had entrusted me with. On top of that I was thinking, now what? Do I go back and try to find a job and become an ordinary civilian again stuck in this system. When your at the brink of failure all your emotions are so intense.
...
a) They cant relate to what im going through
b) They say the most aggravating things like get a real job etc
...
I wish more parents would be more supportive of their childrens passions etc.
I'll say it again.
The biggest risk wanna be traders who want to make a living even a
Wage face is an insufficient capital base.
If you don't have a business plan and a plan of how your going to do business
Your going to fail.
The older you get the less likely you are to find a meaningful career.
The world is full of losers
It's the easiest position to attain.
+1
Let us take a look at what is required for those new...
If you require 100K per year and can generate a 20% return than the capital base required is
$100,000 / 20% Return = $500,000 CAPITAL BASE
$100,000 / 30% Return = $333,333 Capital Base
I guess this is one of the reasons some may take on more leverage and Risk to get to try and get to their goals...
It's even worse because of tax
It's even worse because of tax
As tech said, find one thing to do well, master it and then move on to the next thing. I started out with mechanical share trading systems I developed in Amibroker and then branched into day trading index futures, beginning with the Kospi, then once I'd gotten consistent with that I added the SPI, then the FESX and now working on the ES.
I've helped others out here with some basic mechanical systems, from short-term daily systems to retirees looking for weekly systems to complement their super. Happy to offer any basic advice on setting up Amibroker and how to go about building a mechanical trading system to suit your trading style.
This video sums it up and not just for dark horse. Might add that it is bizarre how a losing position can get out of control when still holding but not so if you stop out. I have lost count of how many times I have closed a position at loss and price reverses back in your favour. Like there is only you versus the broker and the broker has ultimate power.
Special thanks to donkhorseppwer for the vid. link.
This study inspiration isA teacher colleague mentioned the Dunning-Kruger effect to me some time ago - its not "just a trader thing" having irrational enthusiasm as you jump into a new endeavor:
https://en.wikipedia.org/wiki/Dunning–Kruger_effecthttps://en.wikipedia.org/wiki/Dunning%E2%80%93Kruger_effect
This study inspiration is.
"The phenomenon was first experimentally observed in a series of experiments by David Dunning and Justin Kruger of the department of psychology at Cornell University in 1999. The study was inspired by the case of McArthur Wheeler, a man who robbed two banks after covering his face with lemon juice in the mistaken belief that, because lemon juice is usable as invisible ink, it would prevent his face from being recorded on surveillance cameras."
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