Postanowilem otworzyc temat, w ktorym mozna cytowac osoby, ktory w pewien sposob otworzyly wam oczy na to co wazne podczas handlowania.
Dla osob z malymi kontami, ktore chca porzucic prace i zarabiac dzieki nim na zycie
Kolejny odnosnie cierpliwosci i bycia wybrednym przy otwieraniu pozycjibundy is giving the cold hard facts. Most just don't want to hear it because it shatters the fantasy that is "forex riches" from your 10k account(well this thread isn't to feed BS, it is to prevent that). Can you build that account in the meantime and add to it, so that when you can trade profitably you make some money along the way. Of course this is exactly what I am doing, consistent profits, confidence, and building. But those that live in the US (at least where I am from) and need to double their accounts every year just to keep their head above wonder, is crazy if you ask me. 50k for a single guy will barely keep your head above water, let alone those of you with families. So if you have a 50k account and need to double that just to live. Man is that pressure. when trading is about taking optimal setups that fit your criteria/plan, and letting the results play out. Be it 2% one month or 10% the next.
Get good at this, and the only thing stopping you is getting the account to the size you need. What's wrong with having your normal day job and then trading a medium size account to supplement that income, or just grow it on the side so that one day it will be big enough if you decide to trade full time.
This is why James said this is going to open a can of worms. I get emails every week about people asking me what are reasonable expectations PER MONTH. Nearly impossible questions to answer. I am up around 17% this year and I am very pleased with it. Some would be happy for that for the year on their super huge accounts. Others would be frustrated and taking enormous risks to make that 170%. How do I see it. As my account size grows, my risk per trade is going to decrease decreasing my max drawdowns as well as my overall ROI for the year. But a small % gain on a huge account is where it is AT! Less trades, more money. Beautiful thing that James talks about.
I just cringe when I hear people who are trying to reach weekly goals of 5%, 10%, 15%. Not b/c I don't remember having those same thoughts. But b/c if you don't leave that behind, you aren't going to be around long enough to reap the benefits of what trading can give you.
This is one of , if not the only threads on FF that I can still rant on and feel comfortable to do so
"Although the cheetah is the fastest animal in the
world and can catch any animal on the plains, it will wait until it is
absolutely sure it can catch its prey. It may hide in the bush for a
week, waiting for just the right moment. It will wait for a baby
antelope, and not just any baby antelope, preferably one that is sick
or lame. Only then, when there is no chance it can lose its prey, does
it attack. That, to me, is the epitome of professional trading".
Mark Weinstein from Market Wizards, Jack D Schwager.
I have said many times that the only thing i teach is experience.
In my opinion based on personal experience the above quote tells you why
so few make it in this business.
If you were literally starving would/could you sit and wait for not just a
fairly easy meal THAT MIGHT get away or would/could you wait for a sure
thing, a GUARUATEED MEAL.
The cheetah will probably starve if it does not focus on its best chance
for a meal.
Traders that do not follow the same thought process will fail.
I GUARUNTEE they will fail.
almost 30 years of personal experience tells me that.
If and when you reach a point where 2 or 3 guarunteed "meals" a month
provides you the dream of no boss and fnancial freedom you will also
patiently wait for the lame baby antelope to cross your path.
The problem for almost all of you is being that picky with a small
account.
What can i say?
I understand where your at. Ive been there.
What can i tell you?
All i can do is be honest.
If your going to chase every healthy baby antelope that gets within half a
mile your going to starve. ( ie - marginal 4 hour trades etc...etc...)
I guarantee it.
The solution?
Treat this as a business even with a small account and be ok that it might
take you 5 or 10 years to build a nice size account.
Let me say once again what i did many many years ago.
After 8 years of chasing the healthy baby antelope and starving i quit
chasing it.
I stopped trading for around 2 years and demoed while i saved my money
for an account size where those 2 or 3 guaranteed meals a month meant
enough to me to wait for the lame baby antelope.
