Quote:
|
Originally Posted by Soul-Trader2004
That's why I laugh when I see people posting that they are consistently profitable after a few months or even a couple of years - they may be, but it wont be for long. I think that even if you say this in chat rooms and on forums like this you know the truth yourself.
|
I've been live trading for 4 months. I am consistently profitable, was from day one of live trading, and know for a fact I will continue to be because my trading method is based on price in real time, not backtested systems.
I have a lot to learn and am not making the kind of money I will make in the future after I have more knowledge and experience, but I enjoy an extremely high percentage of winning trades. I won't even state it here because no one would believe me, since most people on this forum believe they can make money with 51% wins by "cutting their losses short and letting their profits run." (Although like you said, I think they know the truth themselves -- or at least they soon will.)
I have personally met a couple of professional traders who make serious money. They don't trade from mechanical systems and they shake their heads and roll their eyes if you ask them about backtesting.
I was lucky. I learned how professionals trade while I was still trading a
demo, and I never had to go through all the sh** you mention. I 100% agree that you're in trouble if trading is a source of excitement, but I enjoy trading and I'm very interested in the business -- the economic, political, cultural, and psychological issues that impact the market value of a currency.
When I contrast my experience with the burnout that occurs from untold hours of backtesting systems, I'm doubly grateful. I wouldn't want to earn my living from a job that bores me.
But I have to tell you, I've never heard a professional claim they can kick back on the beach and let a mechanical system make money for them. In fact, people like Linda Bradford Raschke and other well-known successful traders go to some trouble to disabuse newbies of the notion.
When newbies hear these claims, it encourages them to continue seeking the holy grail system instead of knuckling down and learning how to trade currency. Consequently, 90% of them will fail, just as the pundits predict.
Just my opinion.