What makes one a Professional Trader?

A number of times i've seen comments on this site alluding that professional traders dont make their statements public; some talk on no solicitation for funds on such forums; some on the need for one to have more than 100 trades and so forth. But what would make one be considered to be Professional coz at some point many aspire to be! Share you thoughts here.

Consistent profit for at least one year, with low draw downs on a real account of course.

fxdimarion posted:
Consistent profit for at least one year, with low draw downs on a real account of course.

What if one is consistent on profit for over a year but with large drawdowns?

I guess every one version of profitable varies. For some large draw downs are acceptable but for me if you make consistent profit for and extended period of time with minimum draw down... your in the game.

He is like a famous mountain climber who finishes in a wheelchair

A professional trader is someone who does it for living and dont need to do any other jobs to earn money for living. If you earn each month enough from trading so that you can pay all of your bills than youre a professional as well. Thats the simple difference between professional and non professional.

Im a amateur but i think its true that pros are not interested in making their 'secret recipe' public. Its like coca cola dont make its recipe public because its their business to make money with that.

Thats why i dont believe anyone whos selling robots, training videos, signals or what ever and spiting big words about their products because if it would really work they would not try to make money with that because they simply dont need to make money with that. They would keep it for them self and instead making money with trading their 'secret recipe'.

Regular withdrawels. If someone is truely a pro they will have to use the trading account to pay bills. Simple as that.

It is the one everybody talks about, but probably does not exist... AN URBAN LEGEND!

Like the Yeti... Or the Lochness Monster...

Not true Guru.

I know quite a few people who only trades for a living, including one enterprising fellow who has been earning a living trading Oanda's API for the last decade. And when I say know, I mean as in I had beers with them. In Singapore and Thailand.

AAs I said, they draw living money from the trading accounts. That's how you tell if someone is a pro or not.

I heard that Urban Legend...

Beer in Thailand...? I can invite you for a Hennessy or a Jack Daniels in Manhattan and tell you stories... Does it make me a Pro trader...?

CaptainVita posted:
A professional trader is someone who does it for living and dont need to do any other jobs to earn money for living. If you earn each month enough from trading so that you can pay all of your bills than youre a professional as well. Thats the simple difference between professional and non professional.

Im a amateur but i think its true that pros are not interested in making their 'secret recipe' public. Its like coca cola dont make its recipe public because its their business to make money with that.

Thats why i dont believe anyone whos selling robots, training videos, signals or what ever and spiting big words about their products because if it would really work they would not try to make money with that because they simply dont need to make money with that. They would keep it for them self and instead making money with trading their 'secret recipe'.

Good analogy. Despite its secret formula, Coca-Cola sells its products to the masses. A trader can do the same without sharing his/her secret formula!

Actually that would make it sound more realistic because overall NY is way more expensive then Thailand expecially when it comes to beer or spirits
And anyway, as a person who traveled alot around Asia and lives currently in Malaysia i can tell you dont believe anyone who tells you anything in Thailand! Dont even when a girl tells you shes a real girl! :D

So pretty much just taking money off the table and supporting your lifestyle?

DP

FxMasterGuru posted:
It is the one everybody talks about, but probably does not exist... AN URBAN LEGEND!

Like the Yeti... Or the Lochness Monster...

^^ lol

I would love to get there eventually! Have met a few people that legit live off their profits. But, of course, won't disclose their strategies or the rest. Who knows, maybe they actually just live in a shoe box and are faking til they make it! 😁

Just because you can set up a MAM doesn't make you a professional. Been burnt enough times to know that!

CaptainVita posted:
Actually that would make it sound more realistic because overall NY is way more expensive then Thailand expecially when it comes to beer or spirits
And anyway, as a person who traveled alot around Asia and lives currently in Malaysia i can tell you dont believe anyone who tells you anything in Thailand! Dont even when a girl tells you shes a real girl! :D

Well said!

Maybe we can have a couple of beers in Pattaya one day... 😎

FxMasterGuru posted:

CaptainVita posted:
Actually that would make it sound more realistic because overall NY is way more expensive then Thailand expecially when it comes to beer or spirits
And anyway, as a person who traveled alot around Asia and lives currently in Malaysia i can tell you dont believe anyone who tells you anything in Thailand! Dont even when a girl tells you shes a real girl! :D

Well said!

Maybe we can have a couple of beers in Pattaya one day... 😎

Yes, of curse buddy! And then we can learn some new trading strategies and secrets from some TS while sharing some chang beer. 😉

@CaptainVita

Or some 'Tiger' beers... or a couple of Heinekens... Lets keep in touch...

Cheers!

HammoRen posted:
So pretty much just taking money off the table and supporting your lifestyle?

I guess so.