adaseb wrote:I don't tell people either because they will think that since I made money doing it, so will they and they want me to teach them.
And I hate teaching people anything.
You don't know how many people are out there with unrealistic expectations who want to make $200 a day (typically what their job pays) with a $5000 account and no experience what so ever.
One guy said he will probably start trading AAPL (Apple stock) fulltime because he looked at the charts and everyday it has dips, and he will just buy at the dips. But I don't know what crystal ball he has laying around in his closet that will tell him which dips will be the swing lows.
When I got started in trading it was all fun and games. It was fun backtesting and demo trading and s**t. But now trading full time is a real bitch and sometimes really stressful. Sure you can make thousands a day but you really have to work for it. And I mean REALLY work for it. You have a very small margin for error. And the market is so dynamic with time that what works today might not work in the future.
I hate it with a passion when some noobs ask "How much can I make trading" or "how much do you make trading" or "what is the win rate with this method"
I really think that more people would succeed in trading if they just stopped browsing forums looking for indicators that plot an up arrow or down error when to enter/exit trades. Most people spend way too much time browsing forums and backtesting or demo trading when in fact they should be watching the markets live. If they just watched the live market for a couple weeks, I guarantee that they would find a few ways to make profit from the market. Backtesting and Demo trading is like masturbation, you will learn nothing from it.
But a lot of people think that watching the market live is a waste of time because looking at charts in hindsight is no different. What they don't understand is that its a waste of time trying to look for patterns however if they looked at a chart and learned market dynamics they would be much ahead of the herd.
For example, say the Euro breaks upward, after a 15 pip pullback it consolidates, and then drops another 15 pips, then consolidates some more and start going up, stalls, and goes back down and drops another 10 pips, causing a massive downward spike and then rallies all the way up 45 pips and breaks to a new high. If you stared at these types of moves in real time you would know exactly where the amateurs and where the pros enter and how you could profit from it. You would know exactly where noobs put the stops and you could runs the stops with the pros, and then after 2 attempts when most amateurs give up buying the dips, you'd have a good risk/reward entry. You don't learn stuff like this by demo trading or backtesting.
So enough ranting, and time to get some sleep. Goodnight everybody.