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Anyone Trading For A Living?

James_Bond
Sep 10 2012 at 12:37
posts 556
I'm wondering how many traders are actually trading for a living? Please do not spam you system here as that is not the point of this topic. What I'm looking to find out is the answers to the following questions, (if you are trading for a living):

- How did you make the move from part time trading to fulltime?
- What starting capital did you require to trade full time?
- Has your performance changed once you did the transition from part to fulltime?
- Are you happy with your decision?
- Do you trade only your own money? Either yes or no, why?
- Do you see yourself still trading fulltime in the long term?

If more questions come to mind, I will be sure to post them as well 😄

zlion
Sep 10 2012 at 17:28
posts 8
My goal is that but unfortunately i did not reached it yet. I have traded the forex market for about one and a half year. I have learned a lot, lossed a lot, and I hope I will one of them who trade for a living next year. I never ever give up! :)

Chikot
Sep 10 2012 at 23:21
posts 2299
Nick (NickMcDonald)
Sep 11 2012 at 05:59
posts 86
I do, and a number of people I work with also trade for a living.

A couple of things they have in common:

- At least 3 years trading experience

- Target a minimum of 20 pip profit targets

- Trade the London/US sessions

- Most have employed the use of a mentor when starting.

It's not easy, and most people don't have the emotional stability to do it. But I can tell you that there are plenty of people out there making good money trading FX.

Find your passion and work hard
James_Bond
Sep 11 2012 at 07:48
posts 556
zlion posted:
My goal is that but unfortunately i did not reached it yet. I have traded the forex market for about one and a half year. I have learned a lot, lossed a lot, and I hope I will one of them who trade for a living next year. I never ever give up! :)


That's great to hear you don't give up. A big psychological factor in trading is to be able to hang in there through the rough times.

James_Bond
Sep 11 2012 at 07:50
posts 556
Chikot posted:
working on this.


😀 That's quite concise.

How long have you been working on this if I may know? Were there times where you thought you're already there just to find out you're not? (this is something I've experienced many times and still do).

James_Bond
Sep 11 2012 at 07:51
posts 556
NickMcDonald posted:
I do, and a number of people I work with also trade for a living.

A couple of things they have in common:

- At least 3 years trading experience

- Target a minimum of 20 pip profit targets

- Trade the London/US sessions

- Most have employed the use of a mentor when starting.

It's not easy, and most people don't have the emotional stability to do it. But I can tell you that there are plenty of people out there making good money trading FX.


Great. I would really appreciate if you can answer my questions in the first post 😄 (Thanks!)

Chikot
Sep 11 2012 at 08:02
posts 2299
basically I had a long break from trading as you might know from my journal. since December 2010 till this June end I practically had time to trade only last summer when I was trading oil live. I think I am there and I think I have been there for some time.
I can say one thing that I am constantly improving and as soon as I have enough data will be looking for some firm to join. I am actually going to start my attempts soon but not with FX. Futures. FX I am trading long term trend following I am displaying now on my live account and day trading I will go with different instruments. When I have enough data for trend following will be looking for funding too. started trading September 2008. no prior experience.


James_Bond
Sep 11 2012 at 14:59
posts 556
Chikot posted:
basically I had a long break from trading as you might know from my journal. since December 2010 till this June end I practically had time to trade only last summer when I was trading oil live. I think I am there and I think I have been there for some time.
I can say one thing that I am constantly improving and as soon as I have enough data will be looking for some firm to join. I am actually going to start my attempts soon but not with FX. Futures. FX I am trading long term trend following I am displaying now on my live account and day trading I will go with different instruments. When I have enough data for trend following will be looking for funding too. started trading September 2008. no prior experience.



Sounds good. Quite surprising you're going with futures and not forex - I always though futures aren't that popular, especially if you're accustomed to quick moves like with forex.

So you're currently doing this part time? Are you a bit scared to switch to full time? I mean, it's like putting all of your eggs in the same basket, so to speak. Do you have a plan B for the worst case scenario?

Chikot
Sep 11 2012 at 18:41
posts 2299
I simply got few companies who are testing traders willing to trade OPM with futures. The process of selection is tough but funding and later pay is far better than anything proposed here. It is only for day traders. Futures are actually a better intra day trading instrument than FX. FX may be more jerky but we have no information about volume which is very important piece of information. Been practicing futures and things are going well.
FX is longer term trend following project for me.

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