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Who trades full-time?

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Re: Who trades fulltime?

I've been Trading Futures for the last 6 months. Going full time at years end. It's very rewarding when you find a Strategy that works and stick to it. I was lucky enough to get a big kick in the a*** to start with, but most importantly, learnt from my mistakes, and now the worlds my oyster.

Absolutely love what I do. Lifestyle is the main reason for taking it up full time. The money is great, but other things are more important.
 
Re: Who trades fulltime?

Bronte said:
We trade the 'SPI' sort of full time:
6.50 am to 8.30 am :nuts:
11.30 am to 12.45 pm ish
Happy 1/2 hour sometimes.
Click to expand...

Is that Perth time or Sydney time?
 
Re: Who trades fulltime?

I trade full time but not all the time if that makes sense, once I worked out that its market conditions that makes the returns for me and not because I am a genus, guru, super intuitive trader, have the ultimate mechanical system, have the holy grail etc, simply the market fits my strategies I make profits.

Oh some times I get it right and some times not...........

So when the market isn't working for me I do some thing else.
 
Re: Who trades fulltime?


Good post IFocus and I totally agree, I actually think this is a part of trading that is seriously overlooked.

The more I trade the more I realise the general market conditions have a big say on my bottom line and if I'm using the wrong strategy for the conditions I end up in drawdown. Some conditions just don't suit my trading and psychology so I'm better off sitting out or at the very least cutting back on my risk and the number of trades I'm taking.
If this causes me to miss a few profitable trades so be it, there will always be more opportunities but if I lose too much capital I might not be able to take full advantage of them later on when conditions suit my trading.
 
Re: Who trades fulltime?

I'd be interested to know if others experience periods of total lack of interest in the market.

This happens to me for a month or two about once a year, not at any particular time or for any particular reason. Just get totally bored by it all, don't want to read the financial press, even.

Just lose any hunger to make more money.

Anyone else?
 
Re: Who trades fulltime?


Wow, get off my wave length Julia, This has happened to me over the last 4 weeks or so. Was even going to start a topic on it here but couldn't be bothered.

I wouldn't say mine has been a loss of hunger to make $$$, just that I'm currently channeling more energy into things that are making me money, then the studying and learning of trading that I've been doing for the last 9 months or so.

I have a tendency to get quite into something for a period of time (say 1-2 years) then lose all interest in it, it's almost like a repeating behavioral pattern. I am aware of it, and need to pay close attention too.

For myself I think there has been a number of factors contributing to it. I completed a goal I set to achieve, heading into Christmas & the break over new years I feel the market slows up, lack of posting in general from myself and others online, different ventures which are currently making me $.

Hoping to come back fresh and fighting mid Jan.
 
Re: Who trades fulltime?

I spent a couple of months trading full time with a group of others out of an office and to be honest most were unsuccessful. This was over 5 years ago and we traded stocks and CFDs.

Trading day looked like this...
Wrap up world markets including US, commodities etc
View daily news on a news aggregator
Run daily scans using Metastock
Identify trades for the day
Discuss possibilities with all
Markets open
The trading day was extremely boring most days. We watched Fashion TV pretty much all day to pass the boredom.
The highlight was usually having lunch in the food court downstairs.

Trading 'full time' requires that you are diligent with your time or you have some side projects to work on. We use to do a lot of system testing using metastock and tradesim, testing theories etc.

Following on from this I met a trader who had a decent trading portfolio and would have up to 60 positions at a time (trading CFDs on leverage). He spent about 1 hour a day monitoring his trades (adjusting stops etc) and worked full time. I watched him make many $5,000 trading days and over a 2 week period just over $50,000 in one good stretch. He also had some bad days but on average made a lot of money. Only used mechanical trading systems.

I then realised that the goal of trading is to make money, not spend 12 hours a day analysing the markets. For me his results were a real wake up call.

Having confidence in positive expectancy trading systems is a traders goal.
 
Re: Who trades fulltime?

I trade full time and am a 'day trader'. I rely on the income to survive. I do not mean that if I did not trade I would go broke. I have substantial assets and trade because I love the challenge. It is not possible to be a 'part time' day trader because if you take your eye off the markets, you will miss the opportunity you have been waiting for. Research is vital and this must be done 'out of trading hours' which takes time. You need to have a mentor which enables you both to consult and exchange ideas.

The mentor may also bring you back down to earth when you think you are on a winner. You must remember that for every trade there is a winner and a looser. The best thing about trading is pressing the sell button for a profit.

No one likes to tell people about their losses...they feel like dills, but the truth is we all make losses. Protecting you investmnet is the most inportant issue. Read the 'posts' and tell me how many people talk about their losses?

Do your research, learn, read, and read again, do your research, continue to read every day. Be patient and do not jump in where fools are welcome.

Trading (as opposed to investing) is hard work. You can make money but only if you understand the 'mentality' of the market. If you can master the expectations of the heard mentality, you have a chance.

Get yourself a mentor who has been trading successfully for at least 5 years (preferably 40 years) and 'suck his brains'.

Best of luck. If you happen to ignore my advice, then I welcome you to the world of share trading, because I cannot exit without people like you.
 
Re: Who trades fulltime?

I don't consider myself a full time trader as I trade an end of day mechanical system on the asx, but i do consider it to be my second profession.

Basically my day consists of getting up, looking what the the OS markets did overnight, for interests sake. Go to work, have a look at the market on open if i'm at a computer. Get home and spend roughly 30mins putting on the trades for the next day and having a look at how things are performing.

I have tried 'playing' the markets for a short while on a more full time basis, but for me, trading an end of day system while sitting watching the market (and dabbling in day trading) is impossible. I do not have the mental strength to trade the system as designed while I'm watching the market all day. I don't think i ever will, and It's probably a good thing - It's not necessary.

I didn't find that i could live a healthy lifestyle during this short period of full time trading. I think that psychologically, it's much healthier to trade part time initially, and probably for quie a few years, before making trading a full time job. I think you need to be able to totally separate the money aspect in trading from trading itself before making trading your full time day job.
 
Re: Who trades fulltime?


You are SPOT ON mate!!! Im taking up the challenge Full Time in 2010. One I look forward to.
 
Re: Who trades fulltime?

sydney_hawka said:
You are SPOT ON mate!!! Im taking up the challenge Full Time in 2010. One I look forward to.
Click to expand...
I'm interested to know how long you have had experience in share markets? The reason being is I myself failed at full time trading because I lacked the experience/knowledge to do so. Simple as that. I'm assuming years upon years.
 
Re: Who trades fulltime?


G'Day BC,

You sound like you know what your talking about, what do you trade and how long have you been at it ?

How does a newbie get a guru for mentoring purposes, does it cost a lot of coin or will the guru do it for free ?
 
Re: Who trades fulltime?

Wysiwyg said:
I'm interested to know how long you have had experience in share markets? The reason being is I myself failed at full time trading because I lacked the experience/knowledge to do so. Simple as that. I'm assuming years upon years.
Click to expand...

I've been Trading for a number of Years in Stocks, Options & Futures. Most of them unsuccessfully. I started Trading Futures this year. I have a Mentor with over 25 Years experience, who Manages a very large Futures Fund. This particular Gentleman has shown me the way. I developed my own strategy, which is a bastardisation of his + a couple of added extras, and so far has proven to be a big winner. So much so, that Im going full time in 2010.
 
Re: Who trades fulltime?

sydney_hawka said:
I have a Mentor with over 25 Years experience, who Manages a very large Futures Fund.
Click to expand...

Hi sydney,

I asked BC a similar question,

How did you get hold of a mentor, is it costing money or is he/she doing it as a favor ?

BTW, what the name of the futures fund ?
 
Re: Who trades fulltime?

wayneL said:
I chat on the internet full time. Trading is a sideline.
Click to expand...
I've changed my profession.

I'm now a full time gardener (foolishly, I'm in a house with lots of hedges ), dog walker and wine quaffer. ( I live two minute walk from the nearest vineyard )

La Dolce Vita ('cept for all the hedge trimming )

Trading still a sideline.
 
Re: Who trades fulltime?

sydney_hawka said:
I've been Trading for a number of Years in Stocks, Options & Futures. Most of them unsuccessfully. I started Trading Futures this year.
Click to expand...
Oh okay. One sure has to know what they are doing before hand. I can't get over how much there is to know about the securities markets. Like one long learning curve. This is my 4 th year of full immersion in the industry and refining my trading system is where I'm at.
 
Re: Who trades fulltime?

Wysiwyg said:
I'm interested to know how long you have had experience in share markets? The reason being is I myself failed at full time trading because I lacked the experience/knowledge to do so. Simple as that. I'm assuming years upon years.
Click to expand...

Wysiwyg,

What/how did you trade when you when went full time (futures, stocks, fx)? How long had you had experience in market before you gave it a crack?

cheers
 
Re: Who trades fulltime?

Wysiwyg said:
I'm interested to know how long you have had experience in share markets? The reason being is I myself failed at full time trading because I lacked the experience/knowledge to do so. Simple as that. I'm assuming years upon years.
Click to expand...
Like wise. How long for you? I mean before you tried out 'full-time'. I've considered it too but know I defo need many more notches under the belt before beginning this journey.

edit: should have refreshed before posting, already answered.
 
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