Frustrating Markets!!!

[aBadTrader]

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.

 

[tech/a]

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.

Pick a mini and spend
The tie getting really good at reading
It. From Charts to Fundamentas that
Will affect it.

Select one thing.
Your all over the place!!,,

 

[captain black]

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.

 

[aBadTrader]

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.

True true - I have yet to set up Amibroker. Taking the time to learn some info and catch some seminars that another member on the forum is teaching me. I really didn't think I was all over the place though - I trade the AUD/USD and the DAX. Ah on occasion the AUD/JPY but that is as far as I'll go.

As far as a mechanical trading system, I'm a long way off of that. I have yet to develop a system let alone mechanise it.

 

[aBadTrader]

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.

Oh bro - I'm with you there. I've been working from home for so long. I tried to get a job 3 years ago, I lasted 3 months. I walk into an office and I just want to vomit.

 

[Wharris]

I have them days also mate lol. I have a skype chat thing if you wanna chat during the day? If you want to bounce something or vent im always on, heck if your in Brissy feel free to come yell at my screen with me haha.

 

[hamli]

... 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.

Wake-up Call: Yes, get a real Job. At this stage, it appears that you are a leech.

Get a job and go fund your 'gambling' ways. The way you behave, and the way you trade is very childish.
Everything is about you and instant gratification and the 50% swings in a day.

This is very different to some other traders on here who have invested lots of time in learning and have demonstrated that they are responsible and can be self-sufficient.

 

[DaveDaGr8]

A few things that stick out for me are.

1 - Find a system or method that is sustainable. 16 hour days, not seeing sunlight, socialising etc is not a sustainable way of living. Your brain knows this and it will sabotage all your efforts.

2 - Do some soul searching. What do you really want in life, perhaps see a life coach. Forget about what you THINK will make you happy and focus on what does make you happy. The future will always come whether you're ready for it or not so you may as well enjoy the present. Investing too much time and energy into the future without living in the present is an issue we all probably suffer from, such is todays society.

3 - Pay your parents back.

 

[tech/a]

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.

 

[Triathlete]

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...

 

[tech/a]

+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

 

[Wharris]

It's even worse because of tax

Gotta love tax ha. "I made 100k trading, oh wait..."

 

[tech/a]

It's even worse because of tax

I own a company
I pay

Personal Tax.
Company Tax
GST
Payroll Tax
Quarterly Provisional Tax

On top of that I have Wife Tax!

And people complain because the upper end of town get all the breaks!!
Yet we are self funded and have never used Social Security.

Life's a beach!

 

[PeterJ]

On top of that I have Wife Tax!


and if You have children
there is KIDDY TAX !:bonk:

 

[Triathlete]

I thought this video "Earn a second income"from The Chartist is a good way to go about your trading when starting out......

www.thechartist.com.au/Videos/earn-a-second-income.html

 

[Newt]

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.

Thanks CB. I'm curious if you've turned to automation for your systems as you've developed more knowledge in each of the futures indicies? We seem to be at a disadvantage here in Australia pursuing many of these. Also, do you still dabble in Aussie stocks, or purely futures now?

 

[Newt]

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 is an excellent vid, worthy of pinning in a beginners area really. To be fair, most beginners are aware they need to learn lots before they're living a life of trading luxury, but don't really know where to start, what will suit their personality, or the sheer volume of material and work required.

A 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

Basically, the more you work hard at mastering a discipline, the greater your insight into just how little you previously knew. Said another way, you can quickly learn the basics of something, but don't really get subtle insights without years of focused systematic learning and practice.

So obvious once you are an expert, but unfortunately most never get there and have misplaced faith in their (low) level of knowledge...

 

[Wysiwyg]

A 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."

 

[Newt]

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."

He could have been a genius if it worked! Only slightly optimistic, and perhaps a tad under-researched.
If only he'd had the internet back then. Hmmm. Actually, 1995 was when I first surfed the internet now I think about it.
https://mindhacks.com/2010/02/11/the-burglar-with-the-lemon-juice-disguise/